PrimeXBT is one of the popular exchanges out there. It is an online exchange that can be used for trading crypto, forex, stock indices, commodities, and more. And it gives you access to more than 70 asset pairings.
The platform is widely popular for allowing users to trade crypto with competitive trading fees and advanced trading features. So the question is, how to trade crypto on PrimeXBT?
If you have a similar question, then I am here to help you out. In this article, I will talk about PrimeXBT and how you can get started with it.
So here we go:
What Is PrimeXBT?
PrimeXBT is one of the popular crypto trading platforms out there. It allows you to access the global market in an easy way.
You can use PrimeXBT for buying, selling, holding, and trading crypto in the easiest way. Also, it offers you fast registration, fast order execution, low trading fees, and more.
Moreover, the best part is that you can deposit and start crypto trading for as little as $5. Also, it offers you high liquidity and tight spreads across all markets.
PrimeXBT also offers you tons of other features. Like you will get access to secure multi-currency wallets, integrated crypto exchange service, access to a variety of markets, advanced trading tools and features, powerful charting software, and more.
PrimeXBT Fees and Supported Cryptocurrencies
PrimeXBT is not only allows you to trade crypto. But you can also trade different trading instruments like forex or stock indices. However, it is heavily focused on cryptocurrency and it allows you to trade in 5 differnt cryptocurrencies like BTC, ETH, LTC, XRP, and EOS. Plus, it supports 9 different trading pairs.
Features of PrimeXBT
PrimeXBT has lots of interesting features that make trading super easy on the platform. Some of the key features are:
- PrimeXBT allows you to use Bitcoin only accounts. You can deposit using Bitcoin, Tether, Ethereum, USD coin and other tokens. However, trades get executed on PrimeXBT in Bitcoin only.
- PrimeXBT offers a well designed, innovative platform where you can customize the widgets. It comes with 12 integrated liquidity providers who are capable of executing over 12000 orders a second. Also, it enables the average market orders to be executed right away.
- You get to enjoy complete privacy while trading with PrimeXBT. There is no need to go through any mandatory KYC process before you even start trading. PrimeXBT is a self regulated service. But it also partnered with a bunch of anti-money laundering authorities around the world to offer you a safe trading experience.
- PrimeXBT module is combined with other crypto social trading platforms that allow the traders to track their trade. Also, they can automatically copy the trades of other successful traders and use them for their benefit.
PrimeXBT Fees
PrimeXBT mainly charges you two types of fees which are trade fees and overnight financing. PrimeXBT charges you trade fees on the trades executed. Also, there is an overnight finance charge that you need to pay for holding a position open overnight. However, this fee varies from one trading pair to another one.
As far as the PrimeXBT fees are concerned, the platform offers you lower trading fees. Also, there is no fee for a deposit. But it does charge you for withdrawals which are about 0.0005 BTC, which is a standard fee to cover the Bitcoin transaction cost.
Moreover, a trading fee is charged when a trader opens or closes a position every time. For instance, for crypto trades, there is a 0.05% commission charged, for indices and commodities, there is a 0.01% fee, and for forex, the charge is 0.001%.
Deposit and Withdrawal Methods
For deposits, PrimeXBT only supports Bitcoin as a payment method. This makes it crypto to crypto exchange.
Also, the exchange only transacts with cryptocurrencies. It has a widget in its deposit section where the user can buy Bitcoin through a credit or debit card. In case you already have Bitcoin in your wallet, then you can transfer them to your PrimeXBT to start trading.
Talking about the withdrawal process, it is a pretty simple and straightforward process. The user needs to input the quantity and a personal bitcoin address to proceed with the process. However, there is a 0.0005 BTC charge that you have to pay for all your Bitcoin withdrawals.
How to Trade Crypto on PrimeXBT in 2022?
1. Register
To start trading on PrimeXBT, you need to register on the platform first. Since it is a no KYC exchange, there is no need to submit your government ID for identity verification.
Instead, simply head over to PrimeXBT.com’s website and register yourself. Also, while registering, you can use PrimeXBT promo code from here. This will give you a 35% bonus on your Bitcoin deposit. So make sure to try it out.
2. Deposit
Once you are done registering on the platform, the next step is to deposit funds. Simply head over to the Deposit section from the navigation menu. Over here, you will get to see a Bitcoin address. Simply transfer your BTC funds from your wallet to the address and wait for PrimeXBT to confirm your deposit.
3. Trade
Lastly, after depositing funds into your PrimeXBT wallet, simply move to the Trade section. Over here, you will find a bunch of trading pairs. Simply choose any of your preferred trading pairs and use the buy/sell window to place orders, and you are good to go.
Is PrimeXBT legit?
Yes, PrimeXBT is absolutely a legit platform to trade crypto and other tradable products. It comes with an extensive cyber security framework that ensures that users’ funds are always protected. Also, their trading engine is designed to meet the highest online trading industry standards.
What is the minimum deposit in PrimeXBT?
The minimum deposit for a PrimeXBT account is 0.001 BTC. However, there is no other currency that can be used for funding your account, not even fiat.
Does PrimeXBT require KYC?
No PrimeXBT does not require you to go through the KYC process. PrimeXBT respects your privacy. As a result, they don’t ask you to submit your personal documents and expose your information. It only requires you to submit your email.
Final Words:
So that was all for your question about how to trade crypto on PrimeXBT. Now go ahead and check out the platform, try out their welcome bonus and see how it is working for you. Also, if there is anything you wish to ask, drop a comment below.
