Registered in Seychelles, Prime XBT is one of the most famous names in the crypto exchange world. The holding company title “Prime XBT Trading Services” is available in the public domain, underlining its legitimacy in the cryptocurrency trading world.
This crypto exchange company has opened its books in the market since early 2019 to be precise. The company has also opened its office in the city of St. Vincent & The Grenadines and has shifted their cryptocurrency trading infrastructure to Switzerland.
Prime XBT has claimed that they have over 30 employees on board currently and is boasting over $375m in their daily volume. Unlike any other crypto trading company in the world, Prime XBT’s core selling point is that it has leveraged crypto trading for several different kinds of assets.
These assets include 6 unique cryptocurrency pairs, having maximum leverage of 100x and various forex and commodity assets that leverage up to a whopping 1000x! Another core selling feature of Prime XBT is that it also makes use of the liquidity offered by large exchanges and market leaders in the cryptocurrency industry.
The company has “pooled” its liquidity from over 12 different crypto exchanges in the market. Unlike many other cryptocurrency exchanges, Prime XBT has traders trading from over 150 different countries around the globe.
Having said that, there are a few different countries that Prime XBT doesn’t accept trades from; they are Quebec in Canada, the USA, and a few other countries around the world.
Prime XBT Review: The Fees
When it comes to the fees, Prime XBT is one of the few exchanges that are actually on the lower end. Prime XBT is one of the few companies that do not charge any amount as deposit fees from traders.
The catch here is that the user will be charged a small amount of 0.0005 BTC on every withdrawal.
This fee is quite feasible and is the standard fee in the Bitcoin cryptocurrency market. Some of its top alternatives in the market, such as BitMEX also charge a similar small fee for covering all BTC transactions in their system.
You can also make use of the integrated and unique feature of Prime XBT called “Buy Bitcoin”.
This instant feature allows you to make purchases or deposit bitcoins directly into your platform via Changelly integrations. This integration completely simplifies your complete transaction process and allows you to purchase bitcoins directly using your VISA or MasterCard bank card.
This is one of the easiest methods in the market to do bitcoin transactions and charges a standard bank card transaction fee, somewhat close to a 5% Changelly, as well as a 5% Simplex fees. This fee sums up to a whopping 10% of the complete bitcoin transaction amount fee.
There are a few other principal fees involved here, such as the Trade Fee and the Overnight Financing charge. The following percentage of charges is charged from all traders every time a position is opened or closed:
Prime XBT Review: The Deposit and Withdrawal Methods
All of the top crypto exchanges have a defined minimum deposit. The same is 0.001 BTC on Prime XBT. In case a trader decides to use leverage, Prime XBT will allow you to open up to 0.1 BTC worth of positions. You can also do a top-up of your bitcoin wallet with the offered Changelly integration.
This integration allows you to buy bitcoin in just a few clicks using your credit or debit card.
On Prime XBT, there is no limit on the number of concurring withdrawals a trader can do. The only restriction is that the amount should not be any higher than your pre-configured Bitcoin network transaction fees, which is 0.0005 BTC.
The platform only processes withdrawals only once a day, mostly between 12:00 and 14:00 hrs UTC. All of your withdrawal requests before 12:00 UTC will be processed on the same day, as mentioned on the official website of Prime XBT, and any withdrawal requested after 12:00 UTC hrs will be processed the next day.
How to Sign Up and Trade on Prime XBT?
Getting started with Prime XBT is one of the easiest in the business. You can summarize the complete process in just three simple steps. Signing up on Prime XBT takes only a few seconds and the steps you’ll need to follow includes:
1. Register on Prime XBT: Sign up and create your account on Prime XBT. The platform would require you to sign up with your email and confirm it. Simply follow the signup steps and log into the Prime XBT platform.
2. Top-Up Your Account: The next step would require you to add bitcoins to your platform. You can simply buy bitcoins using your debit or credit card via the Changelly integration.
3. Begin Your Trade Now: At this point, you would have completed your account setup and funding of your account on Prime XBT. Now you can start trading your cryptocurrency, Forex, commodities, and other indices with a maximum of 1000x leverage.
Why Prime XBT?
If you are looking to boost your bitcoin ( BTC ) holdings, Prime XBT has some of the most amazing features in the whole crypto market. Some of the major ones here include:
Bitcoin Exclusive Exchange: One of the core features and USP of Prime XBT is that you can only deposit Bitcoin cryptocurrency.
Margin Trade Assets: Another core feature of Prime XBT includes margin trade of the assets. The platform allows you to margin trade traditional assets as well as all the top cryptocurrencies.
The list of trade assets available on Prime XBT includes names like Bitcoin, Litecoin, EOS, XRP, S&P 500, Gold, Silver, Crude Oil, Natural Gas, Forex, JAPAN, NASDAQ, and so on.
Customizable Widgets: Another popular feature of Prime XBT includes customization. Prime XBT is considered a powerful and well-designed platform for crypto trading.
Users get over 12 integrated liquidity providers to choose from in Prime XBT. All of these liquidity providers are capable of executing up to 12,000 orders in a single second. It also makes sure that your average order is complete in less than 7.12 ms.
Privacy: The privacy features and security offered on Prime XBT are unparalleled to any other cryptocurrency trading platform in the world. Prime XBT is also known as a pro-privacy platform.
This simply means that traditional checks such as Know Your Customer check ( KYC ) are not required.