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PrimeXBT 2022: Platform, App, Education, Copy Trading & More

Max Clark by Max Clark
August 19, 2022 - 11:55 am
in altcoins news, Market
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PrimeXBT pitches itself as a one-stop-shop for all things investing and trading and has secured a dominant spot in the cryptocurrency market. 

The award-winning multi-asset margin trading platform provides access to educational materials, expert trading advice, a peer-to-peer copy trading community, built-in technical analysis tools, interest accounts, and a mobile app where essential features can be accessed while on the go.

Check out the following detailed review for a closer look at each of the most important competitive advantages exclusive to PrimeXBT.

About PrimeXBT And Its Origin Story

The cryptocurrency-based margin trading platform first got its start in 2018 during the onset of the crypto bear market. Although the timing of crypto winter would otherwise be unfortunate for most newcomer platforms, PrimeXBT’s leveraged short positions quickly helped the platform gain notoriety during a time when BitMEX was all that mattered.

Years later, BitMEX fell, and PrimeXBT took the crown. No other margin trading platform provides as much leverage on top cryptocurrencies like Bitcoin, Ethereum, and others, with up to 200x leverage. Even its next closest competitors at most offer 100x – PrimeXBT is raising the bar across the industry in nearly every way.

Long and short positions are only a tiny part of the toolset traders get access to with no minimum deposit. Account collateral accepted includes BTC, ETH, USDT, USDC, and COV. These cryptocurrencies can be used for margin trading, copy trading, staking, and much more. There are also more than 100 different trading instruments, all under one roof.

Trading Instruments And Tools For A Complex Portfolio

The expansive list of trading instruments is constantly growing, with the company listening to customer feedback and paying close attention to ongoing market trends. In addition to the aforementioned Bitcoin and Ethereum, there is a wide range of altcoins from popular categories across the crypto market. Traditional assets include world stock indices like the S&P 500 or FTSE, commodities like gold and oil, and a vast array of forex currencies across major, minor, and exotic pairs.

Professionals can use the variety in these markets to strategically diversify a trading portfolio to gear it more toward protecting one’s capital. For example, positions in safe haven assets like gold or certain currencies can counter a risky-heavy position in crypto. Long and short positions also provide a wide range of hedging strategies.

Built-in technical analysis tools mean traders don’t have to leave the platform to review crypto price charts and get a good read on the trend, its strength, momentum, and more. Using drawing tools, users can create trend lines that form the boundaries of chart patterns like triangles and flags or call attention to support and resistance. There is also an abundance of trading indicators like the Relative Strength Index, MACD, Stochastic, and others.

Investing Time In Education And Put Your Skills To Work

If you aren’t keen on how to utilize such tools effectively, PrimeXBT has your back. In addition to the powerful trading tools, there is an entire educational website dedicated to trading tips, strategies, tutorials, and more called PrimeXBT Academy. Expert trader Dirk Hartig hosts the university-like program and provides periodic market updates and advice.

More trading tips can be found on the company blog, where it also announces new product launches, features, and platform updates. The most recent announcement is regarding a $100,000 bug bounty contest that just completed. There is also a Help Center, 24/7 customer service, and a dedicated account manager for fully personalized services.

The PrimeXBT Contests section is a venue for weekly trading competitions and crypto-based rewards. Traders compete using risk-free virtual funds in a simulated market environment for a chance to win prizes and be crowned the top trader in each competition, boosting capital levels for trading and other services. Even better, the no-risk setup means that newcomers can practice trading, and pros can backtest trading strategies and hone them to perfection.

All About The Covesting Ecosystem

Both types of traders – novices and professionals – can also benefit from the Covesting copy trading module. Covesting copy trading allows skilled traders to become strategy managers and rise the ranks of the fully transparent leaderboards. They come together to generate synergistic profits.

Strategy managers make a profit from any followers who copy their trades. In contrast, followers get to make money from any profitable trades the strategy manager makes without doing the heavy lifting themselves. Strategy managers must perform well to rank high and attract followers. A five-star rating system also helps followers find the safest and least-risky followers to add to their portfolio.

Both strategy managers and followers can also benefit from COV token membership, which can improve profit shares, reduce trading fees, and much more. Advanced, Premium, and Elite COV token memberships can also increase the variable APY in Covesting yield accounts by up to 2x. The tool offers daily payouts in crypto rewards at up to a 14% APY on staking idle crypto assets for an ideal passive investing setup.

PrimeXBT App Connects Traders With Global Markets From Anywhere

The PrimeXBT mobile application also deserves its own callout and has won its own set of awards. The free smartphone app is available via the Apple App Store for iOS devices and the Google Play Store for Android and offers anywhere access to your PrimeXBT account.

The app lets users do everything from buy crypto to trade cryptocurrencies and traditional assets – and stay on top of positions or a trading portfolio while on the go. There is great attention to the user experience and the familiar platform experience has been slightly modified to better fit a mobile screen and taps and swipes.

The app regularly gets updates, most recently including mobile Covesting strategy management, the addition of the platform’s exchange tool, and the ability to share ROI on social media. Sharing ROI might come off boastful, but it is a great way to attract more users to follow a Covesting strategy or leverage PrimeXBT’s referral program to earn a commission on any users who might sign up.

Review Conclusion: Try PrimeXBT Today

The PrimeXBT platform has a lot going for it. The all-in-one, one-stop-shop claims stand through and through. From active trading to passive investing or education, the company offers a ton of value under one roof. 

A free mobile app, highly regarded customer service and industry accolades help make the platform one of the most appealing in the crypto space currently, and it could stay that way for some time due to constant development evolving the platform over time.

Registration is free, and there are no minimum deposits on margin trading. Try PrimeXBT today and get access to education, copy trading, a mobile app, and much more.

Tags: AltcoinsEducationMarketTrading
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Max Clark

Max Clark

Max Clark is a content writer specialising in the cryptocurrency space. He is very enthusiastic about altcoins, NFTs, and the Metaverse. Max is convinced that the network is capable of replacing the existing global monetary system and granting financial independence to billions of people all over the world. Max loves to go on adventures, play sports, and read books when he has free time outside of work. He has also worked in the financial industry before, so he knows how the world's banking system works and how to deal with clients in the tech and finance industries.

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