While there are various exchanges that exist, there is only a handful that offers a valuable experience. One example of such a platform is the award-winning PrimeXBT Exchange.
The world of finance is constantly evolving. The traditional concept of a platform or exchange has been adapted and transformed to meet the needs of modern traders. Specifically those interested in cryptocurrency and digital assets.
In addition to approaching operations with a user-centric focus, PrimeXBT is a multi-asset trading platform where users have access to over 50 assets. These include cryptocurrencies, forex, commodities, and indices. A full list can be found below.
Based in the Seychelles and founded in 2018, PrimeXBT is a decentralized exchange with a trust score of 10. Over 436,000 traders are active on the exchange. It currently has a 24-hour trading volume of around 22,772,67 bitcoin (BTC) from five coins and 11 trading pairs.
The platform is an innovative space for traders at all levels. For the more experienced, the wide reach of markets is particularly alluring. PrimeXBT’s software, user-friendly interface, infrastructure, and advanced security set this platform apart from others.
PrimeXBT aggregates feed from twelve industry-leading exchanges and feed providers. This provides elevated liquidity opportunities as well as instant order execution. Traders have access to real-time market data and an array of tools to assist in analyzing trades. At the core of PrimeXBT’s capabilities, security and privacy are top priorities.
Overall, PrimeXBT want traders of all levels to have a reliable, safe and streamlined experience.
Staying true to the platform’s commitment to dynamism and innovation, PrimeXBT underwent an upgrade in March 2021. The V2.0 upgrade enables the platform to support new account digital currencies such as bitcoin (BTC), ether (ETH), tether (USDT), and USD coin (USDC).
Fiat currencies like the U.S dollar and the euro are potentially in the pipeline too. The platform’s interface and user experience have been upgraded and enhanced to support these new currencies.
Users familiar with the platform will see the new main section boasts a full view of all account data, balances, Covesting, and more. There is a new reports section too, that includes detailed account transaction information on trading. Information about transfers made to other accounts of wallets will also be available here.
Covesting and PrimeXBT
Covesting, a peer-to-peer trading module, is exclusively available on PrimeXBT. Covesting connects its followers with strategy managers to create a profitable relationship. Covesting offers a wide variety of software solutions to both retail and institutional clients.
Followers have access to an informative five-star rating system and an international leaderboard that provides insight to various success and risk metrics. These enables the individual to choose which strategy they want to back.
Hundreds of strategies are accessible on Covesting, which are provided by traders themselves. Essentially, followers are able to mimic leading trader’s behaviour to earn returns.
For traders, Covesting provides a transparent platform where they can share their results with users and openly compete with other traders. A benefit here is that traders can earn a second income should they receive success fees from their following. More followers mean more profitable trades.
The Covesting token (COV)
The COV utility token provides holders with a plethora of benefits. The coin is an ERC-20 token built on Ethereum. COV offers numerous incentives and benefits such as trading fee discounts within the Covesting platform.
Designed to be used by members in the Covesting ecosystem, COV tokens allow holders to receive various benefits and discounts. The demand for COV is then related to the amalgamation of activities on the various supported platforms.
Users are able to access three membership status levels when locking COV tokens. These are: advanced, premium or elite. With each status there are particular benefits within available within the Covesting products. Holders are also able to stake their coins into DeFi liquidity pools where they will earn daily interest.
Covesting has a token burn program to ensure COV’s scarcity by minimizing the total supply. The platform are also working on a way to allocate a portion of all earnings to a methodical token burn program. A full list of COV burn transactions can be accessed here.
Another exciting development is that COV holders will soon have access to a Covesting yield account. This feature will see token holders earn 2x their return.
How to register and trade
First users need to enter an email address and password to register.
Security, anonymity, and safety are top priorities at PrimeXBT and while there are no KYC questions, users will need to verify their email address.
Once in, PrimeXBT will ask for a country of residence.
After this, a welcome message will appear followed by the option to fund your account. Users will receive a welcome bonus of $350 once a deposit has been made. This offer is valid for 24 hours after you register.
Finally, after making a deposit or choosing to do it at a later stage, users will be taken to their customizable trading landing page.
PrimeXBT’s mobile app allows traders to manage their portfolio and positions seamlessly. Anyone active on the PrimeXBT platform will have free access to the app. The app is available on iOS and Android.
The app is not far off from the desktop version, creating a coherent experience when using both interchangeably. The app is also accessible anywhere, anytime so users have no constraints.
The pinnacle of financial security
PrimeXBT handles their client’s asset with top-tier security features. PrimeXBT confidently offers the highest level of asset security. the platform has experts in financial security and strict manual procedures in place, versus an automated systems that can be hacked.
Other security features include:
- All assets are stored in a cold storage wallet.
- Pending withdrawals are processed once a day between 12:00 and 14:00 UTC.
- Withdrawal requests made before 12 will be processed on the same day, any made after this time will only be processed the following day.
- Each transfer is processed manually, where a team will check the transactions for risk scoring, money laundering or other suspicious activity.
- Security infrastructure is bank-grade
- Compulsory address whitelisting
- Two-factor authentication
- Cloudflare DDoS protection
- SSL encryption
- Cryptographically hashed passwords
- And more
PrimeXBT’s referral program
PrimeXBT has a four-tier referral program, offering clients four earning levels. Depending on the account holder’s currency of choice, payouts can be made in BTC, ETH, USDC or USDT. These are immediate and paid directly.
To date, PrimeXBT’s top earners have generated over 100 BTC. Through the referral program, any new referrals and users these referrals make, will earn the original client commission.
Cost-per acquisition offers for traders
A cost-per acquisition commission may also be earned on referred users. For active traders, these start at $250 and can reach $1,250.
Among the various benefits that exist for this CPA offer, partners are given promotional codes, discounts and other promotions in order to entice new users to join.
Low fees and a progressive discount system
Another appealing features of PrimeXBT is the competitive fees and the discount system in place for traders. The fees are inclusive of both trading and overnight financing fees. These can be reduced through the discount system in place.
PrimeXBT rewards its traders by cutting fees for those that have the highest level of trading turnover. Fees can be reduced by up to 25% for those who reach a turnover of 300-600 BTC. For fees reduced up to 50% off, traders will need to have a turnover of more than 600 BTC.
Users are able to track the progress they make toward each discount level and can then adjust their strategy to take advantage of the reduced trading fees.
As previously mentioned, the available Instruments on PrimeXBT include:
- Brent oil
- WTI crude oil
- Natural gas
- Germany 30
- US Tech
- Hong Kong 50
- Australia 200
- Japan 225
- UK 100
- Europe 50
- France 40
- Spain 35
- Wall Street 30
- U.S dollar
- Australian dollar
- Pound sterling
- Swiss franc
- Japanese yen
- New Zealand dollar
- Singapore dollar
- Turkish lira
- Russian ruble
- Mexican peso
- South African rand
- Hong Kong dollar
- Chinese yuan renminbi
- Thai baht
- Spot silver U.S dollar
- Spot gold U.S dollar
PrimeXBT is en-route to being a top trading platform
Discounts on trading fees creates an environment that both motivates and supports traders to perform optimally. The diversity of instruments available on PrimeXBT attests to the forward-thinking approach to trading and expands the platform’s trader reach.
The partnership between Covesting and PrimeXBT attests to the fact that the platform is user-centric, inclusive, and dynamic. Through this, PrimeXBT are also shaping an element of crypto-education in the sense that it is designed encourage newbies to familiarize themselves with the trading world.
PrimeXBT are evidently on their way to being one of the world’s top trading platform. From the user-friendliness, making the platform accessible to all skillsets, to the strong focus on security: PrimeXBT lives up to its trustworthy and reliable reputation.
Register here on PrimeXBT to start trading. Using the code BeIn50 you’ll receive a 50% capital trading bonus on your first bitcoin deposit.