PrimeXBT Honest Review - The Bitcoin-Based Crypto Trading Platform

Pros

• Quick sign-up process

• A demo account available

• A user does not need to submit to KYC procedures.

• Lower trading fees, maximum leverage, competitive trading conditions, and competitive service fees.

• Trades can be executed super-fast

• It offers margin trading in traditional assets and cryptocurrencies. Offers 1000x leverage of up to 1:1000.

• Minimum deposit is 0.001 BTC.

• Both new and experienced traders can use the platform.

• Trade cryptos, foreign currencies, major stock indices, and commodities

• Affiliate Referral system

• Novel covesting feature

• Copy trading platform

• Turbo trade

• Robust technical analysis tools and charting

The principal fees at PrimeXBT are Trade fees and Overnight Financing. PrimeXBT charges trade fees or commissions on the trades executed.

The trading platform also charges overnight finance fees for holding a position open overnight, but this varies from trading pair to pair.

PrimeXBT offers lower fees, and it does not charge any fees on deposits. Withdrawal fee is 0.0005 BTC, which is a standard fee to cover the Bitcoin transaction cost.

A trading fee is charged when a trader opens or closes a position every time. This exchange transacts only with cryptocurrencies. It has a widget in its deposit section where the user can buy Bitcoin through a credit or debit card.

If a user already has bitcoins, it is simple to deposit them into their account through the bitcoin deposit address. Funds withdrawals is a simple and straightforward process.

A user needs to input the quantity and have a personal bitcoin address to proceed with the process. PrimeXBT platform provides address whitelisting, with already preset addresses that can be used for withdrawals.

PrimeXBT is a good trading platform designed for both new and advanced traders and provides a hassle-free online trading experience.

Even though it has several advanced trading features, it offers a browser-based platform that does not require installation or software downloads.

The crypto trading platform offers more trading chart types and analysis tools, 50 technical indicators, etc. The platform’s interface is fully customizable and provides various execution methods, trading histories, and visualization tools.

PrimeXBT offers a Turbo trading platform and allows the users to take the position of an asset for a defined gain. If the trader’s prevailing market price prediction is correct after a certain amount of time, they get a fixed payout.

Users have three choices regarding the duration of trades, like 30 seconds, 1 minute, and 5 minutes. Presently, PrimeXBT trading platform supports trading pairs like BTC/USD, GBP/USD, ETH/USD, EUR/USD, EUR/JPY, USD/JPY, etc.

PrimeXBT affiliate program offers generous rewards to its customers. It provides marketing tools and affiliate links to become a partner. Through referrals, an affiliate partner gets a small percentage as commission.

For example, if a trader brings in a new customer through the affiliate program and executes a trade worth $1000 in BTC, PrimeXBT trading fees are $50 or 0.05%, and the affiliate partner gets 20% which is $10 as a reward.

The PrimeXBT referral model has a four-tier payout system. You receive rewards not only for direct referrals you bring to PrimeXBT but for their referrals as well. It's like a multi-level marketing plan.

Prime XBT exchange has an extensive and powerful cybersecurity network to ensure that strict practices and measures are put in place for their customers to protect assets against any threats.

The platform also conducts periodical tests and audits, and provides a platform with strict security standards. PrimeXBT trading platform has been designed to meet the highest industry standards. The trading systems are uniquely coded to increase order execution, speed and to minimize latency.

It automatically monitors all the risks associated with an order size, buying power factor, maximum position size, profit or loss, and executes complete risk management when an order is placed.

This platform offers wallet security where the customer’s digital assets are stored in their offline cold storage. Further, only a portion of digital assets is held in their best crypto wallet, hot wallet, or online trading wallet.

PrimeXBT trading platform uses multi-signature, also known as “Multisig” to prevent unauthorized access and provide tolerance and attacks for losing access to their key by removing single points of failure.

Fund transfer from the storage to wallets is manually handled, and it requires collaborative work. PrimeXBT uses a dual-factor authentication that requires an in-depth verification process. This offers a higher level of protection than using single-factor methods, where it only requires a password.

PrimeXBT is one of the most popular and secured bitcoin-based exchanges that offer their users leveraged trading and the required tools to trade in the crypto market.

It is one of the best crypto exchanges. It is also self-regulated and provides its users with high-security systems and privacy. PrimeXBT is the best platform if you want to trade cryptocurrencies with lower fees.

How do you make money on PrimeXBT?

Open a Trading account. You can start earning interest on your crypto by joining PrimeXBT. The process takes less than 40 seconds.

Stake. Simply deposit funds, select the amount you want to stake and click “Stake now” button.

Get paid. Sit back and enjoy passive income. You can add or withdraw funds at any time.

Extremely limited number of trading pairs. PrimeXBT offers among the fewest trading pairs when compared to some active global exchanges.

Most digital exchanges offer dozens if not hundreds of crypto trading options for users to choose from. It's unusual and unclear why PrimeXBT would choose to offer so few options.

There is no access for residents of several countries including the U.S. The site lists 14 countries in its "prohibited jurisdictions" including Canada, U.S., and Japan. There is no additional explanation for the blocked access in these regions.