Knowing About PrimeXBT and Some of its Outstanding Features

PrimeXBT is not one of the oldest crypto platforms and yet it is one of the most popular and outstanding exchanges in the market. It was founded in 2018 and now extends its services to around 150 countries across the globe.

PrimeXBT trading platform is one of the most well-known exchanges and offers numerous asset classes for the users to choose from. It is a crypto-to-crypto exchange that also supports the trading of numerous other assets.

If you want to use this exchange you will have to first purchase Bitcoin as you can only fund your account with the flagship crypto asset.

Here are some outstanding features of the platform you should know about. Check out the detailed Bitcoinsensus Prime XBT review.

Currencies Available on PrimeXBT

This is a remarkable platform that makes trading crypto assets quite easy for both beginners and experts. On this platform you can trade major and minor forex currency pairs.

The forex currencies that are available on the exchange are as follows:

  • Australian Dollar
  • British Pound
  • Canadian Dollar
  • Euro
  • Japanese Yen
  • Swiss Franc
  • US Dollar

Security Offered by the Exchange

One of the most commonly asked questions is β€œIs PrimeXBT legit?”. It is indeed, considered to be one of the safest trading platforms in the market. This is because PrimeXBT prioritizes the security of its users and makes use of leading-edge security systems to ensure the funds and digital assets of the users are kept safe. The available security features reduce the opportunities for fraudsters to carry out any kind of hack or scam.

Some of the security systems available on the exchange are:

  • Use of cold storage wallet
  • Secure servers that are specific for the web platform
  • Two-factor authentication (2FA)
  • Secured Socket Layer (SSL)

Fee Charged by the Exchange

In this PrimeXBT review you will get to know that the exchange is known for charging one of the lowest service fees in the market. This is one of several reasons for the popularity of the platform.

PrimeXBT enables the users to trade assets such as Forex, commodities, indices and digital currency pairs and charges a commission per trade.

If you use the exchange to trade digital currencies such as Bitcoin you will be required to pay a flat trading fee of 0.05%.

This exchange also follows the market maker and taker model. According to this model, the market makers are required to pay a fee of -0.025% while the market takers are required to pay 0.075% fee. As a user of the exchange you should also consider the withdrawal fee.

This fee is usually the same, however, it can vary based on the platform you choose. If you withdraw Bitcoin from this exchange, you will only be required to pay 0.0005 BTC, which is quite low as compared to the industry which is 0.000812 BTC.

PrimeXBT in the USA

If you are in the USA and you want to know β€œCan I leverage trade on PrimeXBT in America?” then you should know that the exchange is not available in the States. The trading platform refrains from offering its services in U.S. due to complications with regulations.

This is an important question and every crypto investor or trader should ask before they decide to choose a platform. Every platform does not offer its services to all countries around the world due to regulation problems. Therefore, before the interested parties finalize a platform they should check if it is available in their country and region or not.

Covesting Feature

As mentioned above, PrimeXBT is a suitable exchange for beginners as well as experts. This is one of many reasons why the platform is so popular and in the list of most crypto enthusiasts, both potential and existing.

One of the ways, this platform makes trading crypto easy for the novice parties is through its Covesting feature. This allows people with no prior experience of trading to copy the trades of the experts. This is called copy-trading and helps beginners in trading digital assets. It is also a useful feature for people who have insufficient time and a demanding schedule, but still want to do crypto trading.

Final Takeaways!

PrimeXBT is a relatively new crypto exchange but it has achieved tremendous growth since its establishment. It works on offering convenience and ease to beginners and experts alike who want to step into the world of crypto and start crypto investing or trading. Therefore, whether you are new to the crypto space or not, you can consider using the exchange. As a potential user, you should know the highlighting factors of the trading platform as mentioned above.