Prime XBT Cryptocurrency Trading Platform Review | UseTheBitcoin

Prime XBT Cryptocurrency Trading Platform Review

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Prime XBT is one of the most advanced cryptocurrency trading platforms in the industry. Established in 2018, this company has been offering trading services for over 30 different virtual currencies with an average daily trading volume of $545 million. 

The firm is now operating with more than 40 employees and three offices located around the world. They are currently offering leveraged trading for Bitcoin (BTC), the largest cryptocurrency in the market, and other altcoins. These digital assets include Ethereum (ETH), XRP and Litecoin (LTC), which are also recognized as some of the largest in the world. 

Prime XBT is also offering clients with access to liquidity and several trading tools that aim at helping users to execute their trading strategies as planned. All the solutions provided by the platform are built on top of security standards that help individuals feel safe and enjoy efficient systems. 

Easy-to-Use and Clear Interface for Traders

One of the most important things for users is to have a clear and easy-to-use platform. This includes an interface that has been developed to make users have a clear usage of the platform. The easiest it is to find all the necessary tools to trade, the better the overall experience for the user. 

In addition to it, they have 100% anonymous accounts for the user without KYC verifications. This is good for many traders that want to avoid providing information to many platforms in the space. 

The platform is also offering CFDs, forex and other indices. There are major and minor currency pairs available. Furthermore, there are several indices, including the FTSE 100, or the S&P 500, among others. This would provide individuals with the possibility to trade in several markets rather than just in cryptocurrencies. 

Users would need to provide an email and a password in order to register themselves on this platform. You will have the possibility to start depositing your funds and managing your wallet in just a few simple steps. Other exchanges require their support teams to control the documents provided and the pictures presented. 

This is why Prime XBT must be considered a great and easy to use platform for traders and crypto users. Indeed, the exchange says that users can start trading in as short as 40 seconds after being registered. 

In the left part of the screen, traders will have all the necessary information related to the different trading pairs that are available for trading. This is great to search for the most important trades and have an overview of the general prices in the cryptocurrency market. The interesting thing about it is that you can have both FX trading pairs and digital assets all in the same interface, which makes it very useful for professional traders that trade with different pairs and markets. 

In the centre of the screen, we will have a chart that can be modified according to each user needs. This is great for technical analysts that need and require several tools to operate. With all the tools available in this platform it would be certainly comfortable for individuals to start planning their trading strategies and place the trades they need. 

The main screen will also share with traders all the information related to their Balance, the equity they have, unrealized PLN, the used margin and the available margin, among other things. This, and all the trading and technical tools available for traders would make Prime XBT one of the most advanced platforms to trade digital assets and in other traditional markets. 

Prime XBT is also working with commodities. This is a great thing considering it became one of the only few platforms that offers a large number of tools for traders to improve their trading strategies. 

Some of the commodities that can be found on Prime XBT include the following:

  • Natural Gas
  • Brent Oil
  • Crude Oil
  • Gold
  • Fees

Prime XBT Technology and Trades

Both newcomers and professional traders in the crypto market can enjoy the top services offered by Prime XBT- Users will have highly reliable market data which can also be reflected in the performance of this platform. 

The team of experts behind this exchange has developed an ultra-fast order execution system that allows trades to be executed in < 7.12 ms on average. This is one of the fastest execution times in the entire cryptocurrency industry, which has several exchanges and platforms to perform trading activities. 

Furthermore, they are also offering traders a trade engine that has a real-time risk management implementation that is supported by Amazon AWS’s infrastructure. Due to the fact the exchange is connected to a large number of liquidity providers, there is low latency and the prices are reliably displayed on the platform. 

According to data provided by the exchange, 74.1% of clients’ market orders were executed at the price they were expecting. This is much higher than traditional crypto exchanges, which can offer less efficient matching systems. 20.8% of the users experienced a positive quote for their market order and only 5.1% resulted in a negative result. This is one of the lowest numbers in the whole market. 

Each of the trades performed by users will have fees that would help the exchange make money with the services they provide. The trading fee is minimal, equal to 0.05% for most of the trading pairs, including BTC/USD, ETH/USD, LTC/USD, XRP/USD and EOS/USD. 

Long positions that use leverage would have to also pay fees. However, the fees are different according to the digital assets traded. Moreover, if you are short in the market, the financing per day would also be different than if you open a long position. 

In addition to it, there are withdrawal fees that would be paid by users using their funds on the exchange. At the moment, users can only deposit Bitcoin to Prime XBT wallet. The same happens with the withdrawals users make. 

Users will also have the possibility to get rewarded through the affiliate program. The more users get referrals, the better for them to earn more money. The first direct referrals would provide you with 20% earnings, 15% earnings the second level of referral, 10% the third level of referral and 5% the last one. This is one of the best ways of promoting the platform and also earning some funds with the exchange. 

Constant Investment in R&D and Security

Prime XBT has been investing in R&D and new solutions for users. This is one of the things that make this platform one of the best in the market.

As they explain on their official website, they show how dynamic they are and how they are always working to serve the best interests of their clients. Furthermore, they want to move forward in the coming years as the most innovative platform in the world, redefining their services on a regular basis and allowing traders to have their needs fulfiled. 

Exchanges have been many times affected by hacks and attacks from malicious parties. The crypto industry had very poor security standards in the past, this is why exchanges have been investing large sums of money in order to become safer for traders and investors. 

Most of the funds that are held by the platform will be stored in cold storage. This means that they cannot be affected by hackers online and that the funds are secure from malware and other phishing scams. The hot wallet used by the exchange is just funded with some coins to provide liquidity to traders. 

They are also using Cloudflare’s technology so as to avoid Distributed Denial of Service Attacks (DDoS) that have been very common in the crypto industry in the last years. 

Basically, the exchange is taking all the necessary measures to protect users and their funds from malicious attempts of attacks and hackers. This must be considered a very positive thing compared to other exchanges that continue to hold large amounts of digital assets on their online wallets. 

Furthermore, they have an SSL encryption that would protect all the information that you send through the exchange. In this way, it would not be possible for malicious parties to take advantage of it or steal your data. In addition to it, the page is using a “bcrypt” algorithm so as to reduce the negative effects of an external attack. 

It is always recommended to activate the 2FA in order to reduce the possibilities of a third-party having access to your account and consequently to your funds. Although this is a standard security feature in nowadays’ exchanges, not every platform offer this solution. 

Conclusion

Prime XBT is one of the most advanced exchange platforms that has been developed in the cryptocurrency market for traders. Users will have the possibility to enjoy the best services provided by this exchange. Moreover, users will also have the possibility to enjoy one of the most advanced trading matching systems that would provide users with the best exchange services. 

Finally, they have also developed a great security system for traders to be safe about the funds they deposit on the platform. Exchanges have been affected by hacks and other issues and Prime XBT is taking all the necessary measures to reduce these issues. 

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