Cryptocurrency exchange Prime XBT

Prime XBT – a professional cryptocurrency exchange

In an era of uncertainty in the cryptocurrency market, investors are looking for different ways on how to trade the profit placed in digital assets, while not converting them into FIAT currencies – which entails paying the 19 percent “Belka Tax”, on capital gains. This need is met by the Prime XBT platform, which offers both cryptocurrency trading and speculation in Forex and derivatives. However, it differs from other brokers in that deposits can be made with cryptocurrencies.

Prime XBT – multiply your cryptocurrency portfolio in the traditional market

The platform offers its clients the opportunity to speculate on many types of CFDs. A position can be taken on Forex, for example – Prime XBT offers trading on 51 currency pairs. Traders are also provided with contracts on eleven of the world’s most important stock market indices. Therefore, our crypto portfolio can swell thanks to movements on the DAX, NASDAQ or SP500, among others. Besides, on the platform we can still benefit from the multi-percentage-point sharp movements that characterize the cryptocurrency market. At Prime XBT, it is possible to trade on 7 crypto pairs to BTC and to the US Dollar. Within these pairs, trading is available on BTC, ETH, LTC and EOS.

Main advantages

The main advantage of Prime XBT is the ability to use high leverage, which in the right hands allows you to multiply your profits. Interestingly, by “high leverage” here we should not mean a leverage of 1:100. This is the maximum leverage we can use in trading cryptocurrencies, oil and indices. Gold and silver contracts open up the possibility for clients to trade – at a maximum – at a leverage of 1:500. PrimeXBT’s largest leverage is 1:1000 and can be used when trading forex.

The platform is further divided into three modules, three types of accounts. The first is the standard PrimeXBT. The second is the “Turbo” variant – for the most experienced and demanding traders. The third is Covesting, which is worth devoting a separate paragraph to.
The first two types of accounts mentioned above are basically separate platforms, which are tailored to the needs of different customers. The basic PrimeXBT platform is simpler, intuitive and equipped with the necessary indicators and technical analysis tools. Turbo, on the other hand, is the answer to the needs of advanced market players. Thus, it is a good place where to buy cryptocurrencies.

Like many brokers, PrimeXBT has also dropped support for such trading platforms as MetaTrader4 and Metatrader5. Instead, customers get two modern, much less complicated platforms and a mobile app for those who are more comfortable making money in front of a smartphone screen.

Covesting – what is it?

In short, it is the ability to copy the movements of the best traders. Covesting is the first platform that allows you to plug in under the most successful traders and earn (or sometimes lose) along with them. A client of the platform can “hook up” to the strategy of the best traders on the platform or create a strategy on his own to make a profit. Each trader who shares his strategy receives 20% extra profit on the earnings generated by other platform clients using his method.

Covesting also means deposits! This module will be launched in the third quarter of this year. If at some point we get the feeling that it is not the best time to take up the gauntlet that the market throws at us, Covesting Yield Accounts will save our funds from – cruel to their value – inactivity. Funds that we do not use will be able to be transferred to a Yield Account, so that there they can undergo the DeFi protocols. Our funds will be used for cryptographically secured loans to other Covesting users. The temporary freezing of funds is, of course, rewarded accordingly – with interest at a variable percentage, which is regulated by DeFi protocols. The minimum deposit in the Covesting Yield Account is $100.

Commissions in Prime XBT

The platform’s trading costs are very low compared to the commissions that other brokers charge. The highest fee will be experienced when trading cryptocurrencies, but it is still incomparably lower than what traditional crypto exchanges charge. The cost of transactions on cryptocurrency pairs is 0.05%.

For transactions on forex and instruments such as gold or silver, the fee is 0.001% of the transaction value. A higher fee will be paid by trading on two varieties of oil – WTI and Brent – and gas, 0.01%. The same commission applies to stock market indices.

Deposits

0.001 BTC/0.025ETH/50USDT/50USDC

Btc, eth, usdt, usdc, cov (proprietary token, based on covesting platform).

Fiat deposits via third-party services such as Coinify, CEX Direct or Paxful, which allow you to buy BTC via bank card or wire transfer (SEPA).

50% bonus on deposit for readers: gieldakrypto50

A 50% bonus on your deposit – for example, when you deposit 0.5 ETH – you get 0.25% ETH for trading – you can’t withdraw this bonus, but the profits you will have using it you can withdraw. This is a very good thing, because you don’t risk your capital. The minimum deposit is 0.001 BTC, the maximum deposit is a total of 1 BTC for the bonus to work. The bonus works on each deposit for 90 days. As you can see, this cryptocurrency exchange has a lot of possibilities and interesting solutions, so you should consider setting up a free account there.

Is Prime XBT regulated?

The subsidiary company responsible for the platform – Prime XBT Trading Services LLC – is registered in the archipelago of the islands of St. Vincent and the Grenadines. In this jurisdiction, a license to provide financial services is not required. Prime Technology Ltd, on the other hand, is registered in the Seychelles. The company is also seeking to obtain a license from the Australian Securities Commission – ASIC.