Crypto

Tutorial: how to use Prime XBT? – CoinTribune

Presentation

PrimeXBT is a Bitcoin based derivatives trading platform that allows you to trade cryptocurrencies and traditional financial instruments such as Forex, S&P 500 and Nasdaq composite indices, commodities such as crude oil and natural gas, etc., from one accounts.

Despite the variety of options, PrimeXBT is extremely easy to use. Even a beginner can open an account and deposit bitcoins into it in minutes. The platform also allows more experienced traders to trade using leverage in the currency of your choice.

PrimeXBT has over 1.2 billion daily volumes, which is proof of the platform’s success among cryptocurrency traders, whether they are newbies or a little more experienced.

The process is very simple and, above all, very fast, as KYC does not directly verify identity.

Go to PrimeXBT and click the “Register” button in the upper right corner of the screen to access the form. Site in French.

You will need to fill in 2 pieces of information, neither more nor less:

  • Mailing address
  • Phone number

On each of them you will receive a confirmation code.

You will also need to create a strong password.

In a few minutes, you’re ready to plunge into the deep end!

The presence of 2FA also allows for additional security of the platform.

This is a simple procedure. On your toolbar, click the “Deposit” button in the “Total funds” field or directly on your chosen cryptocurrency.

You can deposit Bitcoin, Ether, USDT, USDC, or Covesting.

A window with a QR code and the address of your deposit will open. This is the address that you must enter as the destination address.

The money will be credited to your wallet. You will need to move them to your margin account in order to be able to trade.

Please note that it is possible to buy BTC on the platform. PrimeXBT uses third party services Cex.io and Coinify for this operation. You should check the commission before choosing this solution.

PrimeXBT offers leveraged margin trading. If you don’t know what this means, it is best to learn before using them.

What is leveraged trading on PrimeXBT?

The leverage effect allows you to increase your investment ability and limit the capital invested in a trade.

If you want to open a 1 bitcoin position on a classic exchange, you must actually invest 1 bitcoin.

On PrimeXBT, the leverage is 1: 100 or 1%. Therefore, you will need to deposit 0.01 BTC in order to increase your locked margin and receive an available margin of 1 BTC. It is the platform that differentiates them from each other.

This way, you can significantly increase your earnings with less capital investment. If the value of the asset increases by 5%, your profit will be 0.05 BTC, but with only 0.01 BTC of your capital.

ETH, USDT and USDT margin trading is also available.

However, losses are also multiplied. If Bitcoin drops and your deposit is insufficient to cover the margin, you will need to add funds or close your position to limit losses.

It is important to have a rigorous risk management strategy in order to venture into this type of trading, more intended for experienced traders.

Covesting, copy trading PrimeXBT

PrimeXBT offers a feature that many investors love: co-investment. This feature allows everyone to offer their own trading strategy and to everyone who wants to follow it.

When you follow a trader, you will make all of his trades the same with a maximum of 0.1 BTC at a time.

PrimeXBT provides a complete interface allowing you to choose among the many strategies available with clear statistics to make your choice.

The covesting module has generated a lot of talk lately after the remarkable story of a trader who won 1800% in just a few weeks.

Another important detail is the presence of a COV token, quoted on Kucoin, which significantly reduces the cost of managing strategies!

Our opinion on PrimeXBT

Platform fee

Trading commissions of 0.05% are among the lowest prices charged by cryptocurrency exchanges. No deposits will be charged. You can see details of PrimeXBT commissions and limits on this page.

PrimeXBT platform security

PrimeXBT makes up for the lack of regulation with security measures that position it as one of the safest exchanges on the market.

Funds are stored in hard wallets, and the site is protected from DDOS attacks. SSL certificate provides high-performance data encryption.

The platform at the service of its customers

The platform was developed primarily for the convenience of users. With its various features, PrimeXBT allows any trader, novice or experienced, to have only one reference platform. And this is a huge advantage.

PrimeXBT attaches great importance to usability. For this reason, support is available 24/7 to answer any issue or question.

Moreover, the platform has won numerous awards:

  • Best Crypto and Forex Broker by Forex Awards
  • ADVFN International Financial Awards Best Margin Trading Platform

Plus, PrimeXBT wants to stay closer to its community through a variety of social media platforms in all languages! For French we have:

In short, you will understand, we love in the editorial office!

In conclusion, margin trading requires very good experience to limit capital losses. However, thanks to the variety of functions, PrimeXBT it is a platform designed for both beginners and experienced traders! And for those who want to, you can get your hands dirty with a demo account available for Turbo BTC features. This feature allows you to place bets on the rise or fall in the price of bitcoin within a very short period of time. Unfortunately it is not available for France except with a demo account. But it can be a good workout! And in any case, the many other features available on PrimeXBT are more than enough to satisfy you! The platform is intended for users, and it shows! Plus, with the code COINTRIBUNE50, you will receive a 50% Trading Bonus on your first Bitcoin deposit!

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