PrimeXBT: stock trading with BTC

By alturn | CoinXBT | 18 Dec 2020


PrimeXBT is a trading platform with a detail that makes it unique: it allows you to trade on stock markets as well!
The platform can be reached via their website or via App that can be downloaded on the play store or app store.

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It is also possible to act on the platform without KYC (Know Your Customer).
The site has more than 30 assets, including forex as well, but mainly deals with cryptos.
Like other crypto trading platforms, it allows various order types, including market order, limit order and stop order.
You can also customize the charts as you like and the layout is fully customizable, inserting charts, market data, set orders and open positions.
The company also provides particularly secure portfolios: in fact, you can withdraw, deposit and store assets in your portfolio which is fully protected by the offline storage system.

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Leverage
PrimeXBT is not a European broker, so it does not follow ESMA regulations and therefore allows you to act with a much higher leverage even for retailers: in fact the maximum leverage is no longer 2:1, but 100:1.
The leverage on PrimeXBT is automatic, because to open a position you will not be able to decide how many BTC to use in the transaction, but you will decide how many contracts to buy: for example on NASDAQ100 the minimum fraction of contract that can be bought is 0.01 (here you can find the rates and minimum orders for each market).
Short Trading
On the platform it is possible to go short on the available assets, i.e. "bet" that the market will go down and therefore earn also from the down phases.
Commissions
On PrimeXBT there are two types of costs:
Trading Commissions: commissions to be paid at the opening and closing of a position; they are incredibly low, in fact they amount to 0.01% of the position;
Overnight Funding: commission to be paid in case your position remains open at night; be careful though, this commission will be paid for each night your position remains open, so I strongly advise against letting your positions remain open for too long (there is the effect of compound interest that is against you in this case).

Personal opinion
I state that this article is simply a personal opinion of the platform, and that I have not been paid in any way by the company, because if so I would have no reason to hide it.
Having said that, for me it remains an excellent alternative to multiply your BTC, the goal is to accumulate as many BTC as possible, taking advantage of those that are less volatile markets (compared with the crypto world) as the stock market, but without neglecting the markets a little more volatile as that of crypto or FOREX (with a much higher leverage, it is clear).
Another advantage is the complete customization of the layout that allows you to create an interface to your liking.
As negative aspects there are the fact that it is not a European broker and that it does not allow you to choose the leverage, which can create enormous damage in inexperienced hands.

A little advice: if you aren't an experienced trader, better not to act, or act with little, otherwise you will only lose money; do not be fooled by those who tell you that with trading you can become rich overnight! The process to success and wealth is slow and hard, and requires a lot of preparation.

 

Did you know about the platform? Let me know what you think in the comments!
If you appreciate my content, don't forget to follow me and leave me a thumbs up ;)
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If you're thinking of signing up for the platform and want to give me a little something, without taking anything away from you, I'll put the referral link below ;)


https://primexbt.com?signup=299613

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alturn
alturn

Hey there, I'm a crypto investor and a stakeholder passionate about finance and technology. In particular, I'm a telecommunications engineer specializing in Radar technologies. I hope you enjoy my content and don't forget to support me.


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