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PrimeXBT — A Review

Platform Name: PrimeXBT
URL: https://primexbt.com/
Company: Prime Digital Instruments LLC
Address: First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown
Location: St Vincent and the Grenadines
Founded: 2018
Registration No.: 221LLC2019
Supported Languages: 16
Deposit and Withdrawal Currency: Bitcoin
Minimum Deposit: 0.001 BTC
 
Social Channels:
Twitter: https://twitter.com/primexbt
Facebook: https://www.facebook.com/primexbt/
Medium: https://medium.com/primexbt
Telegram: https://t.me/primexbt
Reddit: https://www.reddit.com/r/primexbt
Overview
PrimeXBT is a reputable cryptocurrency platform that has been around for over 2 years. In a very short span of time, the platform has already managed to build a strong community of users in over 150 countries around the world. PrimeXBT is also known for its capability to support ultrafast order executions, easy-to-use features, top tier liquidity and a range of trading tools.
The latest offering on PrimeXBT that has gained the industry’s attention is the new PrimeXBT Turbo feature that allows rapid trading with contract durations of under one minute.
PrimeXBT Turbo
The PrimeXBT Turbo feature is a one-of-the-kind solution available in the cryptocurrency market that involves synthetic contracts for simplified trading and high-speed profit generation. The platform is known for the ability to handle orders of specific, short durations ranging anywhere between 5, 30 and 60 seconds for lightning-speed profit generation. The PrimeXBT Turbo platform is said to be capable of offering up to 90% profit in 30 seconds.
Features
Some of the salient features of PrimeXBT that make it valuable to the cryptocurrency community include a robust, highly flexible trading system that perfectly suits the requirements of both beginner and experienced traders with ease. Its tried and tested trading infrastructure can handle extreme loads with ultra-fast order execution and low latency.
With an average order execution time of close to 7 ms, the platform relies on Amazon Web Services to ensure uninterrupted trading service to its users. It takes less than 2 minutes from signing up to start trading. The responsive, user-friendly interface combined with easy BTC deposits and withdrawals, high leverages and simplified fees also adds to a great experience.
The latest addition – PrimeXBT Turbo further pushes the limits of crypto trading by offering a rapid, leveraged profit-making opportunity for professionals.
Trading
The platform offers a whole suite of trading products starting with leading cryptocurrencies like BTC, ETH, XRP, LTC etc., to popular indices like S&P500, FTSE100, JAPAN and more. It also offers forex trading features with 25 Forex majors and an attractive 1000X leverage.
The platform also takes pride of its Bitcoin Leverage Trading with a 1:100 leverage that offers traders the easiest option to maximize their profits without having to make a much higher upfront investment. Armed with 100x leverage, traders can choose to either go long or short and profit from both upwards as well as downwards movement of the market.
Professional traders can also make use of the Covesting feature available within the PrimeXBT platform to create their own fund where others can make investments. Through Covesting, traders will be able to trade with the received investment and earn fees from profitable trades, leaving everyone involved in the arrangement happy and rich. Through Covesting, more than 50 instruments can be traded, including all the PrimeXBT supported asset classes like crypto, forex, commodities and more.
The PrimeXBT Turbo feature can be aptly described as a trading solution on steroids as it can speed up trading by enabling specific, short-duration contracts of 5, 30 and 60 seconds. Many of the assets listed on PrimeXBT are also available on the PrimeXBT Turbo platform, enabling adventurous traders to make up to 90% profit in under a minute. The turbo feature is ideal, especially for the highly volatile markets like cryptocurrencies, where the changes are much more rapid compared to conventional markets.
Payments and Fees
PrimeXBT implements a straightforward pricing strategy with well-defined transparent price slabs based on the assets and trading instruments. Being a Bitcoin-based trading platform, means that all deposits made into the user account, and withdrawals will be in BTC. The minimum deposit to be made to start trading on PrimeXBT is 0.001 BTC, along with floating leverage of 1000x. At any time, if the user doesn’t have BTC, they can always purchase it using the integrated Changelly extension.
There are two types of fees on PrimeXBT – trade fee and overnight financing fee. The average trading fee is set at 0.001%. Similarly, the overnight financing fee ranges between 0.00411% to 0.00417% depending on the currency pair. It is also worth noting that the platform also has a withdrawal fee of 0.0005 BTC.
Meanwhile, those who are trading on PrimeXBT Turbo can place orders as small as $1, however, in order to do that, they will have to fund the account from their main PrimeXBT wallet.
Privacy and Security
PrimeXBT boasts of a highly reliable and secure platform that pays a lot of attention to the privacy of users’ data. It takes as little as 40 seconds for new users to create an account and start trading on the platform as PrimeXBT doesn’t implement KYC during the signup process.
With customers’ best interest in place, PrimeXBT periodically conducts stress tests and security audits of the trading platform, so that any security or usability related issues can be readily identified and fixed before it worsens. In addition to compliance with the strictest security standards, the platform also implements two-factor authentication, mandatory bitcoin address whitelisting, multisig secured cold wallets, FIPS PUB 140-2 Level 3 rated hardware security models., encrypted SSL, cryptographically hashed passwords, and Cloudflare solutions to prevent security breaches and DDoS attacks.
The multilayer security features ensure that the user information, as well as their funds are secure at all times.
Customer Support
PrimeXBT has a robust customer support infrastructure in place which is available 24/7 to users from around the world. It also has a comprehensive help center where almost all the queries as well as responses are listed. In addition to writing to the customer support team on [email protected], users can also use the live chat at the bottom of the page or use the PrimeXBT Telegram Support Bot to connect with the support team directly.
Conclusion
There is no doubt that PrimeXBT is one of the worthy trading platforms in the cryptocurrency sector. Being a Bitcoin-based exchange and trading solution, it definitely has an advantage over platforms that settles in other crypto or fiat denominations in terms of reliability as well as relative volatility. The addition of PrimeXBT Turbo feature further makes the platform worth trying by those planning to place lots of profitable trades.
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