PrimeXBT is one of the youngest brokers on the cryptocurrency market. Check out the company’s offer and see if it’s worth using its services.
PrimeXBT was founded in 2018 and has been rapidly expanding since then. Enough to say that it has clients in more than 150 countries, and this number is still increasing. The company offers its services to both novice and experienced investors. Clients can choose from a variety of financial instruments ranging from Forex, cryptocurrencies and commodities to stock market indices. So far, the company has won several prestigious awards in categories:
- best Forex and cryptocurrency broker (Forex Awards),
- best leveraged trading platform (ADVFN International Financial Awards),
- best cryptocurrency trading application (Forex Awards).
PrimeXBT.
Description of Tool PrimeXBT, key information
The broker offers two proprietary platforms: PrimeXBT Platform and Turbo Platform. The first one is designed for beginners and experienced traders, it contains more than 50 technical indicators, including MACD, moving average, Ichimoku, Bollinger bands and more. The second one has been designed for more advanced users.
PrimeXBT Turbo helps to profit from small, short-term price movements. All you need to trade on this platform is $1. You can also try out the demo version. However, the PrimeXBT platform is not equipped with a demo version.
A great advantage is the possibility to execute trades using mobile devices through a special application. However, the mobile version doesn’t offer access to all assets that can be managed on a computer. The broker also gives its clients access to Covesting – a module that allows them to duplicate the trades of other traders.
Registering and logging into PrimeXBT
Registering for an account on PrimeXBT is incredibly easy. All it takes is for you to fill out the contact form, which should include your basic details: email address, phone number and login. You will also need to create your own password, which will be used to log in to the website.
After submitting the form, you will have your e-mail account verified. Once this is successfully completed you will gain access to the trading platform. PrimeXBT, unlike many other brokers, doesn’t require users to divulge confidential data that allows identifying the client’s identity. The company doesn’t use KYC or AML procedures – so it’s a fully anonymous exchange, ideal for people who value their privacy and are skeptical about exposing their confidential data.
This solution prevents possible identity theft, which can occur on poorly secured cryptocurrency exchanges.
How does Tool PrimeXBT work?
PrimeXBT offers many different tools, among which the most useful and interesting seems to be the Covesting module – so we will briefly focus a few words on it. Covesting is the first platform on the cryptocurrency market that offers a copy trading service. The company was founded in 2019 and quickly established a partnership with the broker PrimeXBT.
In a short time, both companies developed a module integrated with the PrimeXBT platform, which was launched in 2020 and quickly gained popularity among novice traders. Here’s why.
In addition to the ability to create your own investment strategy, Covesting also offers the feature to track the actions of other users. This allows each investor to have an additional source of income in the form of 20% of the profits generated by people who use their strategy. Users’ results are available to the public, so observers can choose traders who have the most promising statistics.
Once you choose a trader, you need to specify the amount of money you want to allocate for the development of the strategy – and that’s it. Now you just need to click the “follow” button. Rates of return depend on the chosen strategy, but you can also choose several traders with different strategies.
PrimeXBT – forum opinions and reviews. Is it a scam?
Although there are many such products on the market, PrimeXBT has the best reviews.
Just search the web for reviews about PrimeXBT to find out that this is a top shelf product that is extremely popular.
PrimeXBT is an ideal solution for all consumers who are demanding.
Judging by the online reviews, the broker has won the trust and favor of many users. In less than two years of its activity, it has gained clients in about 150 countries, which has been widely echoed in the professional press. So far, the company’s activities have not met with any objections either from the media or from its clients.
However, considering the short period of activity and the place of registration of the company (Seychelles), it is advisable to be cautious when using its services.
Deposits and withdrawals in PrimeXBT
You can deposit funds into your account on PrimeXBT platforms either with bitcoin or with a bank card. It is impossible to deposit funds via wire transfer or in cryptocurrencies other than bitcoin. The minimum deposit is 0.001 BTC and the withdrawal price is pretty low (0.0005 BTC). Once you create an account, you will be provided with a free cryptocurrency wallet.
If you store your bitcoins in another external wallet, you can easily transfer them to PrimeXBT wallet. To do this, simply scan the QR code or copy the address of your new wallet, then open your previous wallet and paste the copied address in the appropriate box.
What if you don’t have bitcoin? Then use the Changelly exchange integrated into the broker’s platform where you can buy BTC. Simply enter the amount of the currency you wish to exchange and you will see its exchange value in BTC. After clicking the “exchange” button, you will be taken to the Changelly exchange page.
Withdrawing funds in PrimeXBT is also simple. After logging in:
- click the “withdraw” button in the “accounts” tab,
- transfer funds from the investment account to your wallet,
- enter the destination address and amount of funds,
- click “submit to withdraw”.
To withdraw money, you need to add your external wallets to the whitelist.
Is it worth using PrimeXBT?
PrimeXBT offers useful trading tools that will be beneficial to both beginners and experienced traders. Some of them are unique instruments that may prove to be a precedent in the cryptocurrency industry. For this reason, the company’s offer is worth considering, regardless of your investment experience.