Prime XBT is a platform for online Bitcoin exchange that works with CFDs & cryptocurrencies for trading. The Prime XBT business was founded in the year 2018 in Seychelles. It has only been 2 years since the inception of Prime XBT but within such a short span it has gained huge prominence and witnessed an exponential growth attracting customers from more than 150 different nations across the world.
The Company focuses on creating a platform which offers all the essential and important tools that are needed for trading activities on a daily basis. These tools are appropriate for all intermediate as well as beginner traders.
Prime XBT – Hyped out or the Correct Choice?
Prime XBT has a wide collection of tools that are used by traders. It has also implemented the norms and industry-standard security practices which help to protect from cyber threats and attacks. Prime XBT is highly customer centric and it has a customer support desk which works 24X7 to help out all its traders and provide them with assistance on every query and at any time.
There are 6 languages available on their website which includes Chinese, Spanish, Russian, Portuguese, English and Korean.
Features of Prime XBT
Prime XBT has an amazing customer care service where their teams offer their sound expertise to mitigate all problems and provide apt solutions to all queries. Their customer service is truly commendable. Here are more interesting features of Prime XBT that make it the right choice for traders.
- Prime XBT provides 20 currency pairs, 3 commodities, 5 crypto assets and 7 indices for their traders. The process of account opening is also seamless, and it requires an email with a secured password. The process for opening is simple and hassle-free.
Bitcoin is also the only accepted currency for all payments.
- Prime XBT also offers cryptocurrency assets, CFDs, Indices and Forex for trading activities. It allows both brokerage and exchange and availability of the below assets are witnessed:
- Cryptocurrencies: Litecoin, Ripple, Bitcoin, EOS and Ethereum are the crypto assets which are available with Prime XBT.
- Forex: Prime XBT offers trading for all minor and major currency pairs. Fees are charged as commissions for trading activities.
- Commodities: Traders also have an opportunity to speculate of different commodities like gold, oil, etc.
- Indices: With Prime XBT you can trade with the most popular indices including S&P 500, FTSE and many more.
- Prime XBT has leveraged trading with different assets and this is one of their most lucrative trading strategies that make it key-selling. This basically includes the 6 pairs of crypto-currency and a range of commodity/ Forex assets having up to 1000X leverage.
- It also uses the liquidity supplied by industry’s larger exchanges. It aggregates or pools their liquidity from nearly 12 separate exchanges.
- It has traders from more than 150 nations and there are a few countries from which traders may not be accepted. This includes Quebec which is one of Canada’s provinces and a few more.
Prime XBT uses Bitcoins which is also the suitable payment currency for its crypto-crypto exchange and brokerage. This system of using cryptocurrencies has an impact on the withdrawal and deposit process of funds and how the trading activities are carried out by all trading resources.
Traders who are associated with Prime XBT need to acquire a stable Bitcoin wallet which is used for crypto-crypto exchanges or for source Bitcoin exchanges by buying other cryptos or fiat currencies. A Very strict wallet protection is also imposed on the funds to maintain its security and safety.
Prime XBT Fees
Trading fees or the commission has a direct impact and influence on your trading profitability. These fees basically add up on a cumulative basis and hence if you keep trading a great deal, it helps you gain a huge volume in return.
There are 2 forms of fees and these overnight fees and trade fees. Trade fee is a commission paid for joining a position while overnight fees are for funding a position. These trading fees are however dynamic and keep on changing. You can visit their official fees section and check the break-up of these fees and witness the fluctuation.
Is Prime XBT Secured?
We all are generally concerned about the safety and security of such cryptocurrency platforms that are prone to cyber threats and malicious attacks. Security is a major concern for all traders and given the growth in cryptocurrency exchange hacks, certain questions involving security are raised.
Secured Exchange – There is a huge bulk of coins kept at the Prime XBT and in their cold storage. This keeps them away from all kinds of internet connections and hence away from the danger of online hacking possibilities and threatening environments.
- It also operates a hot wallet to service all their current payments and withdrawals. However, a minimum amount of coins are kept for this purpose and transactions.
- It uses the concept of multi-signature so that transfer can be made from the cold to hot wallet when needed without any compromise of security.
- Multi-Signature implies that consent and permission would be needed from different people who hold the keys so that the transaction can take place safely. It basically decreases the risk of failure from a single point since multi-level scrutiny is involved.
- It also makes use of Cloudflare’s technology to minimize the risks from security areas.
- Apart from the above, Prime XBT follows a sophisticated hardware module which is hosted on their AWS web servers and considered to be the industry’s best asset.
Prime XBT supports an end to end and full SSL encryption which is similar to the ones used in most of the financial sites and exchanges currently. This also ensures that there is proper encryption of all correspondence which is sent by you as an exchange. It becomes nearly impossible to intercept and stays protected from all threats and malicious attacks.
Prime XBT has all the equipped facilities and strategies that provides an uncompromised security and reduces the changes of exposure to threats and attacks.
Prime XBT comes with a 2-factor authentication such that in a situation even if a hacker holds your password, it will have to go through Google authenticator to get approval and login to your system. This 2-factor authentication is highly useful but it is not a mandate. It is recommended to every user that they enable their 2FA on their respective devices.
The process to activate the 2FA is simple and can easily be done from Security Settings in the account management options. A QR code is generated and a backup key is also presented by Prime XBT. There is absolutely no compromise on the security end.
Conclusion for Prime XBT
Prime XBT is a best trading platform for exchange of cryptocurrencies that offers multiple trading benefits to all its customers. It opens up a plethora of options for all its traders which includes Forex, cryptocurrencies, commodities, etc.
It has highly secured and safe operation standards and works with a complete customer satisfaction methodology. It also provides interesting alternatives and options to all its traders which have proved useful for both beginners and experts in trading.