PrimeXBT – Hype or Actually Good? Reviewing this Popular BTC Trading App

Last updated on October 16th, 2020 at 10:22 pm

Reading Time: 6 minutes

PrimeXBT is one of the most successful Bitcoin trading exchange platforms in the world. Launched in 2018, this platform has come a long way in less than two years. In 2020 it was recognized by the ADVFN as the Best Crypto Trading Platform/App of the year. It is a centralized leverage trading exchange. Users are provided with leverage options for exchanging cryptocurrencies. Users can also trade other commodities like stocks, contracts for difference (CFDs), Forex, and Indices without investing too much money of their own. Plus, there’s zero interference from any central authorities.

Prime XBT Trading Platform

Understanding the App’s Popularity

Prime XBT has gained immense popularity in the crypto community because it is user-centric. Features like multi-layer security systems and anonymous registering attract cryptocurrency users who want to trade privately. Overall, PrimeXBT offers the complete package for amateur traders who’re on the lookout for low-risk and high-return investments. Users of the app can earn a lot in short periods.

PrimeXBT is popular because it’s different from any other cryptocurrency exchange platform. The key differentiators include –

  • No ‘Know Your Customer’ obligations. Users can trade anonymously.
  • High-liquidity.
  • Easy to use interface.
  • Minimal fees for trading.
  • Users won’t suffer from fund shortages since most investments are low-cost and offer high returns.
  • Compared to other BTC exchange platforms, this app offers the best security.

PrimeXBT is headquartered in Seychelles but regulated by the Australian Securities and Investments Commission.  

Here’s a closer look at PrimeXBT key features

Easy to Start Trading

People who wish to use PrimeXBT must first create a secure Bitcoin wallet. Users can source their BTC from other exchanges. Users are only allowed to make payments using BTC. Unlike other retail trading platforms, the process of loading funds in an account is different.

  • Users must first register on the platform
Signup form
  • They only have to share an email ID and a password.
  • Then, they must verify their account using the link sent in their email address.
  • Access to the members’ area will then be granted after completing the login process.
  • No other identification processes are involved.
  • Users can use the ‘personal digital wallet’ in the members’ area to launch their trading account.
  • To use PrimeXBT’s digital wallet service, users will have to deposit BTC from their preexisting wallets.
  • Clicking on the ‘Deposit’ link in the members’ area will lead to a page full of information on how to complete the transfer.
  • Users can transfer BTC from their external wallets to their PrimeXBT wallets.
  • Users who don’t have BTC can directly purchase some on PrimeXBT using their credit cards.

The process of buying or transferring BTC to PrimeXBT wallets is very easy. The deposited BTC can be used to fund the users’ trading accounts. Users have complete control over how much BTC they deposit or send to their trading accounts.

Withdrawing BTC from PrimeXBT wallets is just as simple. Users can oversee such transactions from their ‘accounts’ tab.

Click on ‘withdraw’ to transfer BTC from trading accounts to external wallets. After a few transactions with a user’s external BTC wallet, the platform automatically ‘whitelists’ future transactions. The route to trading is very simple and frictionless. Traders who wish to stay anonymous can use secondary email accounts to launch their PrimeXBT accounts. There’s no need to disclose any other personal information.  

Trading on PrimeXBT

PrimeXBT’s trading process is very easy and full of interactive features and tools. The platform is optimized for seasoned traders, but even amateurs will find the user-friendly interface easy to grasp.

Most features on PrimeXBT are self-explanatory. There’s a ‘help me’ section for FAQs. Users can even watch tutorial videos. The UI is completely customizable. Users can customize every element of the PrimeXBT workspace.

Some of the orders that users can make instantly after signing up on the platform include –

  • Market orders
  • Limit orders
  • Stop orders
  • One-cancels-the-other orders (OCO)
  • Protection orders

The trading time charts are completely customizable. Users can see the rise/falls in crypto prices exactly as they happen. The platform allows users to place trades directly on the charts. Users can choose from bar or line graphs. Overall, trading on the platform is super-simple!

Covesting Module

One of the standout features of the PrimeXBT platform is its Covesting Module. This new and innovative peer-to-peer asset supervision and investment fund platform enables all users to team up with other traders and increase their overall profitability. The top traders on the platform have ample experience and knowledge to set up funds and increase their profitability.

New traders on the platform can now use the same systems used by these experienced trading experts to reduce the risk of losses. Essentially, PrimeXBT’s Covesting Module enables all traders on the platform to coordinate with each other and profit more as a team. No other crypto trading platform in the world offers this module.

Covesting Module for followers
Covesting Module for Traders

Traders interested in investing in peer-to-peer funds in the Covesting Module can do so by –

  • Visiting the Covesting Module from the navigation bar  
  • Click on the ‘Ratings’ section on the new page.
  • View and assess all the Covesting Module funds on display. Each fund will be rated on the basis of its performance, the number of common investors, fund equity, and period of activity. Users must assess these details to make an educated decision.

For amateur traders, the Covesting Module is a godsend. They can follow the path of seasoned traders using the Covesting Module on PrimeXBT.

Leverage

PrimeXBT offers a leverage of 1:100 for trading crypto. No other trading exchange platform offers such high leverages. With the ratio of 1:100, users who invest $10 in the exchange can either make a profit of $1000 or take a loss of $1000.

Pros:-

  1. Advanced Tools & Trading Features from Prime XBT
  2. Simple and Easy to use Interface
  3. No verification required on signup, only short form
  4. Platform for Professional & New Trader

Cons:- 

  1. No demo is required, you need to do the live trading 
  2. Service not available in USA & Canada

The Prime XBT Affiliate Program 

Prime-XBT-Affiliate-Program

Join Prime XBT Affiliate Program and earn up to $1250 CPA for every trader. You will get paid as per the type of affiliate you sent to Prime XBT

  1. Classic

Earn upto 70% of trading fees paid by the trader to Prime XBT.

2. Popular

You will be paid between $40 – $1250 for every qualified trader who deposit to Prime XBT Platform.

3. Classic (CPA + Revenue Share)

That’s a hybrid model where you will be paid for every eligible lead + revenue share whenever referral trade.

Users can advertise their personal trading accounts to attract other users. Top PrimeXBT affiliates currently earn over $10,000 a month.

Imagine earning that kind of money just by referring people to the PrimeXBT platform! Here’s the payment structure for PrimeXBT affiliates –

  • Direct referral – Another user directly starts trading on the platform using your link. You receive 20% of the user’s trading fees.
  • Level 2 referral – The customer you referred becomes an affiliate. You receive 15% of the trading fees for the new sign up. Level 3 and 4 referrals earn 10% and 5% of trading fees. 

Who can join Prime XBT Affiliate Program ?

  1. Affiliate Marketing Professionals from Forex & Gambling industry
  2. Media company, Review site , Telegram/Facebook group
  3. Influencers running Instagram, Twitter, Youtube account with min 5K followers can directly contact Prime XBT team
  4. Earn by sharing your referral link on your social Media community
  5. Forums

Final Conclusion

Overall, trading in PrimeXBT is very easy and highly lucrative. Users must have some knowledge of BTC before they start using the platform’s advanced trading tools and features. The minimum trading limit is only 0.01 BTC, so anyone can get started!

Leave your comments and share your experience if you have already used Prime XBT