PrimeXBT Review 2023 – All You Need to Know
Foreign exchange is certainly a key part of the product offer at Prime XBT. There are a number of pairs on offer, all of which are major pairs. It is worth noting, however, that this broker does appear to offer fewer than many other brokers in the market – some of which offer closer to 50. One potential advantage of choosing this broker in particular to trade forex is that there is no ‘Know Your Customer’, or KYC, requirement – this means that the process of signing up and getting started with trading can be speeded up somewhat. PrimeXBT is a cryptocurrency trading platform that allows the trade of global markets including crypto, commodities, and forex. It is based in Victoria, Seychelles. The PrimeXBT cryptocurrency exchange is a one-stop-shop trading platform that supports trading cryptocurrencies, most major stock indices, commodities, and foreign currencies.
PrimeXBT only accepts crypto-currency deposits (using Bitcoin, Ethereum, Tether or Circle). However, you can buy crypto with a bank card or a bank transfer. At Prime XBT, all assets are traded via the central platform, which is bitcoin-powered. This means that bitcoin, either directly transferred from a wallet or paid for using fiat currencies and a credit card, is used as capital. However, as this Prime XBT review will show, it certainly does not mean that the only assets available to trade are cryptocurrencies. A range of assets are on offer at Prime XBT. Some forex pairs are available, though there are only 25, which is fewer than some other brokers. Commodities and indices are also available. As is to be expected with a bitcoin-friendly platform, there are also cryptocurrencies on offer to trade – these include bitcoin itself, ethereum, litecoin and EOS. Let’s now review Prime XBT in full. PrimeXBT strives to provide the highest level of security to its platform users. It claims an extensive, multi-layered cyber security framework. This framework ensures strict measures and practices are in place to protect customer assets against any threat or cyber attack.
PrimeXBT cryptocurrency selection-
PrimeXBT offers seven cryptocurrency trading pairs. This includes:
1) Bitcoin (BTC)
2) Litecoin (LTC)
3) Ethereum (ETH)
4) USD Coin (USDC)
5) Ripple (XRP)
6) Tether (USDT)
7) EOS (EOS)
Top perks:-
1) Robust multi-level, referral program.
2) PrimeXBT offers leveraged trading up to 100x.
3) Advanced technical analysis tools, without leaving the website.
PrimeXBT review:-
All users will benefit from being able to trade different kinds of assets including cryptos and major stock indices. This cryptocurrency exchange is a good fit for: Experienced users looking for advanced features and opportunities designed to increase profitability. New users will enjoy the ability to copy the trades of experienced traders.
Pros:-
1) The trading platform is well laid out, with three clear columns, each containing different important information.
2) Robust technical analysis tools and charting.
3) Trade cryptos, foreign currencies, major stock indices, and commodities.
4) The minimum deposit is very low at just 0.001 BTC.
5) Referral system.
6) There are many different security methods in force to protect users, such as cryptographic hashing and Secure Sockets Layer (SSL) technology.
7) Novel covesting feature.
8) The platform is available in lots of different languages, and users can toggle between them with ease.
9) Turbo trade.
10) The broker recently won an award, which suggests that it is respected within the industry.
PrimeXBT is right for you if:-
1) You’re not interested in lending or borrowing features.
2) You don’t live in the U.S., Canada, or 12 other no-go countries.
3) You like the idea of multiple passive revenue streams.
4) You’re a trader at any level: beginner to veteran.
5) Cybersecurity is important.
6) You don’t need a wide selection of cryptos to trade.
What could be improved –
PrimeXBT has a Extremely limited number of trading pairs. It offers only seven, which is among the fewest offered by an active global exchange. What makes it odd is that the exchange does not currently accept any reserve currency deposits from bank accounts or credit cards. It’s unusual and unclear why PrimeXBT would choose to offer so few options.It only accepts crypto transfers but barely offers any crypto trading choices. Most digital exchanges offer dozens of crypto trading options for users to choose from. It only accepts crypto transfers from other exchanges or digital wallets in:
1) Bitcoin (BTC)
2) USD coin (USDC)
3) Covesting (COV)
4) Tether (USDT)
5) Ethereum (ETH)
Is your cryptocurrency safe with PrimeXBT?
PrimeXBT runs random stress tests and security audits to ensure its network stays secure. This framework ensures strict measures and practices are in place to protect customer assets against any threat or cyber attack. PrimeXBT strives to provide the highest level of security to its platform users. It claims an extensive, multi-layered cyber security framework.
Its specific security measures include:
1) The PrimeXBT environment is hosted on Amazon Web Services (AWS). AWS has a proven track record of industry-leading digital and physical security.
2) All passwords are encrypted using the bcrypt hashing function
3) Two-factor authentication (provided by Google) to prevent unauthorized access to users’ accounts
4) Ongoing IT security assessments are run to stay current with new potential vulnerabilities
5) Encrypted secure sockets layer (SSL) to encode and protect website traffic
6) PrimeXBT uses Cloudflare to prevent potential distributed denial-of-service (DDoS) attacks
How PrimeXBT works-
PrimeXBT does not have a wallet separate from the main exchange. These are the only cryptocurrencies that can be transferred to the platform for trading. It has five separate embedded wallets within the exchange. Direct crypto deposits from your personal crypto wallets to your PrimeXBT account Deposits through third-party services, such as Paxful, Coinify, Xanpool, CEX.io, which allow you to buy crypto using a bank card.
Each wallet is designated for a specific cryptocurrency:
1)BTC
2)USDC
3)COV
4)ETH
5)USDT
CUSTOMER SUPPORT-
Those who might not yet be customers but who are looking to offer a business proposal, meanwhile, also have a dedicated email address. There is also an extensive help centre that contains a wide variety of frequently asked questions and information. The customer support options that are on offer at Prime XBT are somewhat mixed. On the plus side, there are several email addresses from which to choose. One is for general information and another is for technical support.
WEBSITE – https://primexbt.com/