PrimeXBT is an elite margin trading platform born during the last bear market that gained quick fame and popularity due to offering leveraged short and long positions. It is 2022 and crypto winter is back.
Therefore we wanted to revisit PrimeXBT to understand how much the award-winning margin trading platform has advanced over the years. In this review, we’ll outline what’s new, what has been updated since, and much more.
PrimeXBT is an all-in-one solution for traders offering access to crypto, commodities, stock indices, and forex currencies under one roof alongside several cryptocurrency-based products and services. Margin accounts can be funded in a variety of digital assets including BTC, ETH, USDT, USDC, and COV.
More than 100 different trading instruments let traders build a portfolio that can withstand any market conditions, providing unrivaled flexibility and control over positions. Users get free access to a native smartphone app for Android and iOS devices that let them manage those portfolios and positions while on the go — there is no longer a need to be tethered to a trading desk to access world class trading tools.
The growing list of assets and launch of the app are just two updates in recent months. What grew from a small list of cryptocurrencies has expanded into traditional assets and more recently, many new altcoins were added from categories like GameFi, Metaverse, DeFi, and meme coins. The app is also constantly updated to reflect whatever is new using the browser-based experience.
The biggest new addition since the last bear market is no doubt the Covesting copy trading platform. A B2B partnership led to the launch of the tool on PrimeXBT and the rest is now history. The Covesting copy trading module is a pioneer in the crypto space for copy trading. Other companies have also tried to mimic the winning formula but have ultimately failed to replicate the same success. The magic is in the peer-to-peer copy trading community itself, which is filled with high performing strategy managers that can be followed to automatically copy the strategy manager’s trades.
Strategy managers are required to have their performance tracked within the fully transparent Covesting leaderboards, which gives followers all the insight they need to pick and choose the right accounts to follow. Followers can opt to follow several different strategies at any given time to build a diverse portfolio of top performing traders. Past strategy managers have earned up to 90,000% ROI.
The Covesting ecosystem has also since grown on PrimeXBT to include APY-generating yield accounts, COV token memberships, and is prominently featured in the mobile app. COV token memberships activate benefits such as up to a 2x APY boost in yield accounts, up to a 20% trading fee discount, increased followings, and more.
What’s New: Trading Academy, Contests, And Buy Crypto
The PrimeXBT Trading Academy educational website is a new development that teaches novice traders the ropes and enhances the foundation for pros, thanks to video tips on how to start trading designed exclusively by expert trader Dirk Hartig.
Users can put these strategies to the test or backtest technical indicators using PrimeXBT Contests. Contests introduces weekly trading competitions that users can enter for a chance to win impressive crypto prizes. All competitions take place using risk free virtual funds so no capital is ever at stake, but you could potentially win some if your skills are good enough.
Popular digital assets can also be purchased on PrimeXBT in just a few clicks — another new feature. Cryptocurrencies can also be exchanged from one type to another.
PrimeXBT 2022 Review Summary
Even with all of the above we are still barely scratching the surface of what’s available in the full suite of advanced trading tools offered by the award-winning PrimeXBT.
There is 24/7 customer support chat, bank grade infrastructure, a four level referral program, and much more. If you haven’t checked out PrimeXBT since the last crypto winter, with crypto winter here again, and so much innovation has occurred on the platform, it’s once again time to try PrimeXBT.