PrimeXBT is a Bitcoin trading platform which specializes in Bitcoin margin trading. The broker platform was founded in 2018, and after exponential growth by spring 2019, it already has a customer base of users in over 150 countries.
In essence, this Bitcoin Broker is not about simply buying or selling Bitcoin for Fiat money, but about price betting on a rising or falling price in the form of long trades and short trades.
So you can’t just send Bitcoin to PrimeXBT to sell it to someone and get the money paid out. On this professional margin trading site you perform long trades and short trades only, with the aim to record the price difference of rising or falling prices as a profit in BTC.
Trading On PrimeXBT
Trading performed on PrimeXBT is collateral-based, available only in bitcoin. To trade, firstly, you have to deposit some BTC, after which the platform will calculate your USD balance as well as available margin.
Keep in mind that by trading on CFD based crypto broker, you are not buying the underlying asset. In short, as a buyer performing a trade, you are entering into an agreement with the seller on the future price of a given currency pair.
Because of that, you will be not only able to enter long but also short positions with a maximum leverage of x100. What is more, by depositing bitcoin, you will be able to trade all available pairs, which is not possible in traditional, asset-backed exchanges.
Products Offered By PrimeXBT
One of the strongest PrimeXBT sides is the number of available markets. As a customer, you will be able to trade not only the most popular crypto against USD but also many currency pairs, indexes, and commodities: crude oil, natural gas, and more.
By depositing bitcoin, you can also trade many supported currency pairs, featuring AUD, CAD, CHF, JPY, EUR, GBP. PrimeXBT supports 18 different currency pairs with the same, x100 leverage.
By depositing bitcoin you can also trade many supported currency pairs, featuring AUD, CAD, CHF, JPY, EUR, GBP. PrimeXBT supports 18 different currency pairs with the same, x100 leverage.
As a PrimeXBT customer, you will be able to capitalize on many commodities: gold, silver, oil, and natural gas. All commodities are traded against USD, with the same margin calculated from your BTC deposit.
Deposits are made exclusively in Bitcoin (BTC), as are withdrawals. This principle allows the broker a very simple registration process for traders, as there are no regulations for pure crypto brokers regarding registration processes, as there are for brokers who deal with banks and payment institutions by exchanging Fiat money.
To make a deposit you simply have to send BTC to the Bitcoin address given in the account under “Deposit”.
In order to make it easier for users who do not yet own Bitcoin to participate, PrimeXBT has integrated a kind of quick purchase option. Users can directly use an interface to the Bitcoin Exchange Changelly in their PrimeBTX account, via which they can buy BTC with credit card and then send it directly to their BTC address in the PrimeXBT account. This means that even traders who do not yet own BTC can make a Bitcoin deposit within minutes.
The minimum deposit is 0.001 BTC.
As already mentioned, payments are made exclusively in Bitcoin (BTC).