PrimeXBT Review

6 months ago 387 views. Disclaimer: The information found on NewsBTC is for educational purposesonly. Leadership: There is no information available online about the founder or current leadership of PrimeXBT, which is both disappointing and concerning. Date of experience: April 21, 2024. Rather than depending on the follower’s count and their equity base, always focus on the strategy manager’s performance to increase profitability and lessen the risks. Click the «Stop Following» button. To further downplay its usefulness, there are limits on the volume that can be swapped daily, even for verified users. PrimeXBT does not accept clients from the following restricted jurisdictions: The United States of America, Japan, Canada, Cuba, Israel, Iran, New Zealand, Syria, North Korea, Sudan, United States of Minor Outlying Islands, America Samoa, Russian Federation, Myanmar, Saint Lucia, Puerto Rico, Guam, U. 🚀 PrimeXBT has been crowned the «Most Trusted Crypto Asset Trading Platform» at the Crypto Expo Dubai 2022. This multi level referral scheme offers additional commissions: 20% for direct referrals, 15% for level 2, 10% for level 3, and 5% for level 4 referrals. Had already banned cryptocurrency exchanges and crypto related fundraising methods, this ban went after traditional businesses involved with crypto services, like banks and other financial. Hello Channels Technology,Thank you for your feedback. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. Trading contests are becoming very popular as skilled traders can compete for extra cash and prizes. 217308, having its registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles. To overcome some of those issues, here are a few tips on how to trade Bitcoin the right way. You can only withdraw fiat using the same payment method you used for deposits. Warning: The price of digital assets can be volatile.

9 Lending

We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. It is worth noting that Perfect Money charges the 1. Something that we found particularly impressive about the app is that you can customise your layout to suit your trading preferences. When I deposit I get PrimeXBT trực tiếp a 20% bonus. This section delves deep into the most prominent features we discovered in our PrimeXBT review. Bitcoin miners are impacted by this event, which can favor price appreciation due to the sudden imbalance of finite supply and. Once a trader has this basic grasp of trading, they feel their strategy is properly locked in, and their understanding is sufficient enough to deal with the whims of the market and their own fear and greed, then there is a chance to multiply profitability in trades. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. Prime Technology Ltd is PrimeXBT’s Technology Provider. Given the recent spike in interest in bitcoin and other cryptocurrencies, you might be thinking about diving into the world of crypto trading.

Security and Transparency

With that said, the knowledge of support staff is good and they’re able to help with a range of queries, from liquidation price and platform maintenance, to account queries and help if orders are rejected. Following the collapse of FTX in November 2022, PrimeXBT made clear that it does not use tokens as collateral for fiat money credit lines. On PrimeXBT, traders can choose their desired level of leverage, up to a maximum of 100x. While this lock up ensures network security and aligns incentives for participants, it does have implications for liquidity and the ability to capitalize on immediate market opportunities. These are hosted on AWS web servers which are known to be one of the best in the industry. That being said, it seems as if they expect more of an exponential move starting during 2028, so the move will be very uneven. Therefore, we’ve decided not to include our usual rankings for PrimeXBT in this review. LINK’s potential and its utility is arguably much greater than Bitcoin though, that solely functions as a decentralized currency. Gemini is easy to use and offers a variety of trading features and rewards. 1st Floor, Meridian Place, Choc Estate, Castries, Saint Lucia. Dear Carlos,We’re delighted to hear that you appreciate the wide range of assets available on PrimeXBT, including forex, commodities, cryptocurrencies, and indices. These limits are in place to protect users and ensure the security of funds. While the app does send notifications for significant price changes in favorited assets, this is not as effective as custom alerts. Trade cryptocurrencies, commodities, Forex, and major stock indices with ease using CFDs. With a daily trading volume of $375 million on the platform, the platform has seen great success in a very short time. With PrimeXBT, traders are not restricted to only being able to trade crypto assets as is the case with many other crypto trading platforms. While using PrimeXBT, traders can also execute several different order types with the option to simultaneously place stop losses and take profits. It’s possible, no need to buy crypto from Primexbt if you have BTC alredy. This marks a notable achievement as WEMIX’s inaugural venture into the European market, emphasizing the token’s role in facilitating a range of blockchain based activities, from gaming transactions to decentralized finance DeFi applications. A new box will pop up. We also have one of the largest forex chatrooms online. Actual Crypto Currency Services are provided by Baksta UAB Baksta, a company incorporated in Lithuania with Registration No.

Bybit vs PrimeXBT: User Experience

Overall, PrimeXBT offers a comprehensive trading platform with a wide range of assets, leverage options, and competitive fees. These risks encompass the possibility of basing your trading decisions on the activities of traders who may lack experience or knowledge, or those whose goals, intentions, or financial conditions may not align with your own. During the investment, the share price rises 33% to reach $80. Our process included signing up, completing the KYC Know Your Customer verification, logging in, depositing funds, and making withdrawals. This is a very strong range, which offers something for everybody. In the cryptocurrency futures trading section, 31 assets are available: the earliest blockchain assets Bitcoin BTCUSD, Litecoin LTC and Dogecoin DOGEUSD, large cap altcoin giants Solana SOLUSD, Cardano ADAUSD, Chainlink LINKUSD, GameFi tokens The Sandbox SANDUSD and Axie Infinity AXS, and so on. Clicking the top left brings up a dropdown menu of all available markets, which can be sorted by asset name, current price, and 24 hour change. With only around 40 cryptocurrencies supported, they have the majors covered like BTC, ETH, LTC, XRP, DOT and more. A copy trading strategy follows another trader, hoping to benefit from their expertise. The project is positioned as a potential long term player in the blockchain sector due to its lofty ambitions and emphasis on academic research. Another common strategy used by criminals is to offer contests, giveaways, or gifts of free Bitcoin and other cryptocurrencies. Thank you for choosing PrimeXBT. How to Find Micro influencers: A Definitive Approach in 2024. The platform offers a very limited range of crypto futures markets and conditional orders. Subscribe to our newsletter, you are in very good company.

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However, for access to all platform assets, it is recommended to use the web version or mobile app. Notably, there are no trust scores from CoinMarketCap and CoinGecko. This eliminates the need for multiple brokers, markets, or a host of other hassles. OKX, on the other hand, uses a tiered fee system and employs various security measures such as cold storage, multisig authorization, and an offline computer for private key encryption, among others. Since PrimeXBT is solely a derivatives trading platform and does not offer spot trading, it has not been reviewed by many of the trusted ranking websites we typically rely on. As well as a detailed How to guide on How To Buy Bitcoin with credit card for Beginners. For USDT, USDC and COV the withdrawal fees vary depending on the network used. Different exchanges, different coins, and even different countries with their forex, can present arbitrage opportunities where a person can buy low and sell higher, but this does require a lot of time, effort, and planning for not very big profits. To further broaden the scope of our monitoring, we constantly evaluate and identify the brokerage firms that get the most online searches. If you’re wondering how to report crypto futures trading on taxes, you can read our article covering crypto tax rules around the world for 2024. The process of opening a cryptocurrency exchange account is quite easy. Additionally, charting and technical analysis by TradingView are available in Analysis section. However, the platform lacks spot, margin, bot, social, or P2P trading, which may be a dealbreaker. PrimeXBT supports deposits and withdrawals in popular cryptocurrencies such as BTC, COV, ETH, USDC, and USDT.

Risk warning

Mikhail Vnuchkov joined Traders Union as an author in 2020. They are legally binding and allow traders to speculate on an underlying asset. I am impressed of the speed of responses of their customer support team. Past performance of a PrimeXBT trader is not a reliable indicator of his/her future performance. Deposits made through AdvCash and Perfect Money to your Cash Wallets on PrimeXBT are generally processed instantly. Traders must be aware of this risk and use appropriate risk management techniques to protect their capital. This diversity reflects the platform’s broad appeal and inclusivity. The platform is designed to handle high trading volumes and maintain seamless operation even during peak market activity. You can read more about their API in the API documentation. This bonus can only be used for trading. Virtual assets are inherently volatile and subject to significant value fluctuations, which could result in substantial gains or losses. While its centralized exchange requires KYC processes – this isn’t the case with the OKX web 3. Cryptonews has reported that investors are turning their back on XRP in favor of chronoly CRNO, which is demonstrating real world utility while XRP is fighting for its survival. Altcoins are all the other cryptocurrencies in the market apart from Bitcoin. Best regards,The PrimeXBT Team. Although this is a perpetual futures trading pair, not a direct comparison with our other trading tests, my experience trading derivatives on Binance, Bybit, KuCoin, and Kraken indicates that PrimeXBT performs just as well in terms of order execution and fills. While this means that withdrawals can only be made to accounts that have worked in the past, it does add an extra step and is rather inconvenient. This offer is simple and advantageous for beginners on PrimeXBT. Does this interface fulfill its promises in terms of aesthetics, user experience, and technical resources. However, it also has its disadvantages. Visit our Help Centre. This minimized my losses and still only cost 0. In my experience, PrimeXBT’s desktop platform delivered a smooth and reliable trading experience. The agent responded within 5 minutes, offering detailed answers to some questions while completely missing others. This is always a tricky aspect to analyse when writing up a review for advanced trading platforms. Minimum order sizes, trade sizes, max exposure, leverage, and funding rates for longs and shorts, can be found here. Temporary trading or deposit/withdrawal limits may be imposed until the required documents are provided and the CDD process is successfully completed.

Cons

The next step in trading Bitcoin is to have a well defined, written trading plan. The app features an intuitive interface with customizable layouts, advanced charting tools, and extensive order options. PrimeXBT is a global crypto exchange, as well as offering investors access to other more traditional markets like Forex currencies, commodities CFDs, and stock indices. The platform, however, lets you fund the trading account with Bitcoin only. There’s a drop down button that says “All markets,” and you can use it to select the particular market you want to trade. The information on this website is for educational purposes only, and investing carries risks. Its performance over 25 active days and an all time profit of 625. 217308, having its registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles. Unlimited via Perfect Money. A trader wants to buy stock XYZ at $14, but XYZ is currently trading at 15$. The biggest issue that XRP is going to face is that if it becomes too expensive, banks won’t use it. While some customer support agents have mentioned that the platform is working on establishing an insurance fund for customer deposits, there has been no official confirmation of this. Traders with their own funds will both receive more capital from investors and gain a percentage of the extra profits. This can be a concern for users seeking platforms with strong regulatory compliance. Fiat exchange services are subject to and governed by Baksta’s Terms and Conditions and Policies. Make a deposit and enjoy a : 500$. This is why many prefer the term pseudonymous when it comes to crypto. Portfolio Clarity: PrimeXBT’s portfolio overview screen shows your total account balance and individual balances across trading, copy trading, and wallet accounts. Currently, there is a limited time promotion where referrers can earn a $300 bonus if their referee registers, deposits at least $300, and makes at least 30 trades, reaching $500,000 in trading volume across crypto futures or crypto CFDs. Nonetheless, XRP’s price recovery reflects strong confidence of full recuperation. PrimeXBT offers customer support through email, web form, and live chat, available 24/7 to assist traders worldwide. However each market also has potentially thousands of assets. Multi level security system, address whitelisting, + 24/7 support service. Date of experience: August 20, 2024. Bitcoin is used as basic currency. To evaluate the quality of customer services for diverse user needs, we created a unique trading test. This minimized my losses and still only cost 0.

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As an active trader, I appreciated the inclusion of advanced technical indicators and the availability of high leverage. Anyone interested in dabbling a bit in Web3 will be able to easily navigate amongst the applications without the complexity of Web3 were they to try these applications natively on their own web pages. For stocks in the United States as an example, you need to deposit at least $2000 with your brokerage, or 100% of the purchase price, whichever is less. The exchange will keep a small fee for facilitating the trade. 217308, having its registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles. For cryptocurrency trading experts, PrimeXBT offers the opportunity to share their strategies to earn up to 20% from follower profits. When you look at the benefits of margin trading, you should be aware that they can offer significant gains over what would normally be the case, but at the same time, if you are not careful with the amount of margin that you take out, you may find yourself on the losing end of a much bigger than anticipated trade. Moreover, all users who sign up via our link can receive a 20% deposit bonus. PrimeXBT provides 24/7 customer support through live chat, typically responding to queries within 2 minutes. Dear Luis,We’re glad to hear that you had a smooth experience transferring your BTC from CEX to PrimeXBT. Unlimited for verified users. However, there’s a demo version for new users who are unsure about using the exchange. Nothing can be quite as frustrating for a trader than an exchange that takes a long time to respond to their questions or customer support queries, especially when open trades and live money is on the line. 001 BTC, which is approximately $65 USD depending on the market value of Bitcoin. First, choose between the order types: market order, limit order, stop order and one cancels the other OCO order. There are professional charting options and multiple order types that customers can take advantage of. The UI/UX for both platforms is great, and both platforms have highly rated apps, with the PrimeXBT app even winning an award for best crypto trading app. Once your account is verified, you can start to fund or withdraw from your account. Mikhail Vnuchkov joined Traders Union as an author in 2020. If you’re new to crypto, spot trading, or DCA investing, PrimeXBT might not be the best fit due to its focus on advanced features like high leverage and CFDs, with limited fiat deposit options and no spot trading. He primarly writes opinion pieces for Bitcompare. The order form also displays recent trades and order book data. We shall delve deeper, just give us a few seconds. It caters mainly to experienced traders and may pose challenges for novices due to its high leverage and unregulated status. This data set should also assist you in making a much more informed Polkadot price prediction. This proactive approach is key to successful trading. With high leverage options, it can be an ideal choice for those interested in crypto assets, commodities, and forex source. To add funds to PrimeXBT, log in to your account, navigate to the “Deposit” section, choose your preferred deposit method crypto, bank card, or fiat, follow the instructions to complete the transaction, and your funds will be credited to your PrimeXBT account.

Jery

Bybit practices round the clock security monitoring and conducts regular security analysis checks. While they still require a consistent Zugangsseite stream of income. Here, you can choose the exact amount of BTC that you want to close from your position, and when you input this, you can simply hit the blue button. For example, the fee for trading crypto markets is as low as 0. You might also like: PrimeXBT Demo Account. All changes in commissions, margin financing and other expenses are displayed on the website. Additionally, you cannot set stop losses and take profits directly from the order form. Receive the latest news and stay informed. Keen on helping others navigate the complicated, and sometimes, confusing world of crypto through easy to understand articles, designed for non techies like me. Many of its competitors, BitMEX, Coinbase and ByBit, for example, only offer cryptos as tradeable instruments. Learn more in our Cookie Policy. After testing PrimeXBT, it’s clear that this platform is designed more for seasoned traders than beginners. 05% per trade for cryptocurrency transactions. Traders can also go long or short using up to 100x on stock indices, up to 500x on gold and silver, and up to 1000x on forex currencies. I found the deposit process via Volet quick and easy, with funds instantly credited to my account. However, PrimeXBT offers negative account protection and will liquidate positions as soon as they are a serious credit risk. While Cryptocurrencies consolidated around Bitcoin, traders posted. A trading fee is incurred any time a position is opened or closed as a percentage of the transaction amount as shown below. Deposits are BTC only, indicating a streamlined approach to funding. Find the best places to buy digital currencies based on prices, features, customer reviews, and more. Now, you need to fix the BTC investment amount you want to invest in a particular strategy. Our website uses cookies.

Select a Country

The most straightforward mistake is not being aware of the type of margin trading you are using. Nothing can be quite as frustrating for a trader than an exchange that takes a long time to respond to their questions or customer support queries, especially when open trades and live money is on the line. TradeOgre values user privacy and does not have KYC processes in place. The futures sector is a fascinating aspect of the crypto trading world. Ich konnte meine Handelspräzision und Rentabilität dank der fortgeschrittenen Analysefunktionen erhöhen. After that, click the “Register” button to submit your form. 05% fee for all trades. After testing PrimeXBT, it’s clear that this platform is designed more for seasoned traders than beginners. It offers a robust and versatile trading platform designed to meet the needs of traders across various experience levels. Should a CDD procedure be initiated, PrimeXBT may request specific documentation, such as Proof of Identity, Proof of Address, and Proof of Source of Funds. Orders may be rejected for reasons like insufficient funds, slippage settings, or reaching the maximum allowable open positions. The responses were fairly detailed but lacked accuracy in addressing all queries. After reviewing dozens of different British Bitcoin casino sites, we can confirm that TG. These risks encompass the possibility of basing your trading decisions on the activities of traders who may lack experience or knowledge, or those whose goals, intentions, or financial conditions may not align with your own. Returns or profits may be subject to capital gains tax. The agent responded within 5 minutes, offering detailed answers to some questions while completely missing others. There is no minimum withdrawal. Requests before 12:00 UTC are processed the same day; those after 12:00 UTC are processed the next day. Copy traders can earn up to 75% of the profits, while experienced traders can earn additional income by acquiring followers and sharing up to a 20% profit share from their strategies. Best regards,The PrimeXBT Team. $2,000 by bank card.

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I found that funding fees on PrimeXBT were noticeably higher than on Binance and Bybit. PrimeXBT offers a wide range of tradable instruments, allowing traders to diversify their portfolios across multiple asset classes. Combining risk management strategies with a strong mind and a powerful trading platform can be a recipe for incredible wealth. Use the Binance referral code 49316610 and receive up to $600 in rewards and bonuses. The platform is ok, but Taker and Maker fees on crypto are too hight to be hones. High Risk Warning: Trading in foreign exchange and other financial instruments is inherently high risk and may not be appropriate for all investors. Establishment: PrimeXBT was founded in 2018 and registered as Prime XBT Trading Services Ltd. To open a trading account. PrimeXBT has a growing user base that spans various regions around the world. 05% for all types of trades. KuCoin is for the crypto moonboys who like to trade in some of the craziest looking tokens and get high on the at times extremely volatile nature of crypto price fluctuations. Prime XBT’s user interface is designed for simplicity and efficiency, making it accessible to traders of all experience levels. The claim is that PrimeXBT is designed to be accessible for users with varying levels of expertise in trading different asset classes. The KYC process guidelines were drafted in the U. Buying and holding is a simple and usually effective method to profit from a Cryptocurrency, but it may not be the best use of XRP. Bitcompare does not look at or list all companies or products on the market. Plus the fees are truly low, you pay only 0. This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. 306038128, having its registered office at Eisiskiu Sodu 18 oji street 11, Vilnius, Lithuania. Traders looking solely for the most advanced trading options such as high leverage margin and futures products specific to crypto only will prefer Binance, as it offers many USDT futures pairs that are not offered even on PrimeXBT or on FTX, the other derivatives leader, at the moment. Additionally, PrimeXBT displays order book and live trade data alongside the price charts. Io ReviewPlus500 ReviewInstaforex ReviewEightcap ReviewLirunex Review. With huge price peaks starting in April of 2021 and moving more or less banded by the $0. OpenPeer never holds your funds and uses a smart contract based escrow system. However, it lacks free withdrawal options, with existing ones incurring higher fees compared to most competitors. PrimeXBT offers a variety of bonuses and promotions for both new and existing users. Fiat Deposits: PrimeXBT does not support any form of bank transfer, however, it does accept deposits directly from a bank card without any fees, which is a rare feature even among top industry platforms.

Worse

As a non custodial platform, Changelly does not enforce KYC processes as standard. Doing so dramatically mitigates the risks of a single point of failure. ‘una Wallet’ is more than just a digital wallet; it represents the culmination of WEMIX’s innovative efforts in the blockchain space. Getting started with PrimeXBT is quick and hassle free. Competitors like Bybit and KuCoin support a wider variety of fiat currencies and payment methods, easing fund transition. Related: MEXC Review 2023: How Safe and Legit is MEXC. This means that for every trade executed, a small percentage of the trade value is charged as a fee. The platform charges these fees to incentivize traders to add liquidity to the market. It is fully regulated and offers competitive spreads and fees. Corporate Communication Structure and Transparency: The company does not share any information about its founder or current leadership on the official website. Trading involves risk. The Covesting module highlights top traders and their returns, allowing users to invest and create funds rated by capital and ROI. The agent responded within 5 minutes, offering detailed answers to some questions while completely missing others. See our short whitelisting tutorial. Our website uses cookies. However, it lacks free withdrawal options, with existing ones incurring higher fees compared to most competitors. Risk Warning: Trading in leveraged products carries a high level of risk and may not be suitable for all investors. We appreciate your feedback on the educational content; we’re always looking to improve and expand our resources to better support our users. PrimeXBT Deposit :On PrimeXBT we offer Direct Crypto deposits from your personal crypto Wallets as well as alternative Deposits via Bank/Credit card/SEPA Transfers. Founded in 2018, PrimeXBT is a futures and CFD trading platform serving over a million users in more than 150 countries. PrimeXBT allows direct Fiat deposits to CFD trading account by automatically funding the trading account when a deposit is made to the wallet. Also, it is still early for crypto, so therefore there is a long way to go in order to see where we end up. Therefore, good traders are able to look for patterns and predict when the price of the coin will go up – and buy before then, and then note when the price is about to fall – and sell – which leads to big profits.

Worse

Market Search: The dedicated “Markets” page allows you to quickly search for available markets, with filters for popular markets, forex, indices, commodities, and cryptos. 8 for PrimeXBT Futures Pro. Crypto: Supports Crypto Fiat and Crypto Crypto trading. Their fees are typically less than $2. Benefits include up to 100% discounts on membership fees and up to 30% off trading fees. Chainlink tokens called LINK serve as currency to pay Chainlink network operators for retrieving and preparing off chain data and performing computations. For optimal trading, it’s recommended to use the web app for detailed analysis and the mobile app for monitoring positions and executing quick trades. However, it is crucial to use leverage responsibly and manage risk appropriately. While the immediate connection to an agent is comparable to exchanges like Kraken, competitors like Binance provide more comprehensive and accurate responses. PrimeXBT review is an emerging cryptocurrency exchange based and registered in Seychelles. It was among the best performers during that particular cycle. Traders can take advantage of price movements in these cryptocurrencies to potentially profit from their trades. However, to engage in meaningful trading and cover the margins required for positions, a practical minimum amount should be considered, which might vary from $100 to $500 equivalent in cryptocurrency. PrimeXBT provides its own bespoke, browser based trading platform that requires no download or installation. 💸 Enjoy copy trading, powerful analytics, real time news, forecasts, and trading signals. Upto 100x Leverage on BTC. This is where miners’ rewards are halved, even though the amount of work they need to conduct to mine a coin stays the same. In the ‘Margin’ page, select the appropriate margin account, enter the promo code, and click ‘Activate’. Baksta UAB is registered with the Financial Crime Investigation Service FCIS as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator. For example, the minimum deposit for Bitcoin could be 0. Still, if central banks worldwide continue to tighten monetary policy, it does work against risk appetite. A New Frontier in Blockchain Communication.