This guide will walk you through the essentials of starting your crypto trading journey and unlocking profits on one of the most forward-thinking platforms in the market.

What is PrimeXBT?

PrimeXBT stands out with its sleek, user-friendly interface that doesn’t compromise on offering robust tools for the most seasoned traders.

Established in 2018, PrimeXBT has consistently provided traders around the globe with state-of-the-art financial technology, enabling them to capitalize on market opportunities effectively.

PrimeXBT aims to become a world leader in online trading, spanning diverse financial markets from cryptocurrencies to commodities. The brand strives to be recognized for innovation and quality, solidifying its role as a dependable partner for traders everywhere.

PrimeXBT’s vision is to grant easy and immediate market access while offering comprehensive education and tools for success, irrespective of one’s financial background. The platform is committed to empowering individuals with full control over their financial ventures.

Key Offerings:

• CFDs and Forex: Engage in trading over 100 markets, such as EUR/USD and SP500.
• Cryptocurrency Purchases: Seamlessly buy over 60 cryptocurrencies using Visa or Mastercard.
• Crypto Futures: Trade in cryptocurrency futures contracts, including BTC and ETH.
• Copy Trading: Enhance your trading strategy by following the insights of expert traders.

How to Trade Crypto on PrimeXBT

Go to PrimeXBT and sign up

If you already have an account, simply sign in.

Make sure you use this link to claim bonuses: https://u.primexbt.com/decentralisednews 

• Up to $7000 deposit bonus
• 25% discount on commissions
• 20% deposit bonus | Limited offer

Make your first deposit immediately because the codes are valid for a limited time. 

You can deposit fiat through different payment provider channels depending on your jurisdiction.

Alternatively, you can transfer crypto from an external wallet to your exchange wallet. 

For this demonstration, we are going to deposit $50 USDT on the Binance Smart Chain to our USDT wallet on the PrimeXBT platform. 

You’ll get a notification as soon as your deposit is received in your PrimeXBT account. 

You can see how much you have in your different wallets or across the different products on the exchange easily from the dashboard. 

How to Trade Crypto Futures on PrimeXBT

Crypto derivatives are essentially trading contracts that are based on the future price of a cryptocurrency, such as Bitcoin.

There are various types of futures, but let’s focus on the two primary ones: futures contracts and perpetual contracts. Futures contracts are agreements to buy or sell crypto at a predetermined price on a specified future date. Perpetual contracts are similar but do not have an expiration date and involve funding fees to maintain balance. PrimeXBT offers perpetual contracts, allowing traders to hold long-term positions.

Why are these interesting? They allow leverage, which means you can control a larger position with a smaller amount of capital. This can amplify your profits, but it can also amplify your losses. Keep in mind that crypto derivatives carry significant risk, so only invest what you can afford to lose.

To get started, transfer funds into your futures account. 

Now we can proceed to place a trade. 

You can execute ‘Market or Limit’ orders using ‘Cross or Isolated’ margin.

Fees for futures trading on PrimeXBT are very attractive to traders.

An important aspect of growing a small account is being able to take losses when you’re wrong and moving on. This way, you minimize your losses and live to fight another day. The name of the game is capital preservation.

Traders need signals to enter or exit a market. There are literally hundreds of indicators out there, including momentum, trend, volatility, and moving averages. While there isn’t a best or magic indicator, applying technical analysis formed using these indicators is a way to identify opportunities.

A stop-loss automatically closes your trade at a predetermined level to limit potential losses. This risk management tool is essential. I like to place a stop order so the predetermined level is already set.

What I really like about the PrimeXBT platform is that they have great charting tools that enable you to analyze market trends using technical indicators.

These indicators can assist you in identifying potential entry and exit points for trades. However, keep in mind that technical analysis is not a crystal ball. It should be used in conjunction with other research and risk management strategies.

If you’re unsure about making trading calls yourself, PrimeXBT offers Copy-trading, where you delegate funds to an established trader who trades on your behalf using a defined strategy. It’s a great way to gain exposure to the market and potentially profit from the strategies of others.

They have a leaderboard of copy traders sorted by their percentage gains, including stats such as 24-hour gains, time as a copy trader, and so on.

The copy trading fee structure is quite good on PrimeXBT. 

How to Trade CFDs on PrimeXBT

CFDs empower traders to benefit from price shifts without needing to own the asset in question. By not possessing the underlying asset, CFD traders can sidestep some of the limitations and expenses associated with conventional trading.

Trading CFDs (contracts for difference) allows speculating on financial markets without buying or selling any underlying assets. When traders agree to trade CFDs, they enter into a contract with the broker. The trader, or “buyer,” and the broker, or “seller,” speculate on the price of an asset in market conditions. While the trader speculates on financial products, it’s important to note the key distinction between CFDs and regular trading.

To get started, open a CFD account. If you already have an account then simply go to the CFD trading interface.

You need to fund your CFD trading account. In this demonstration, we’ll transfer funds from our Futures account to the CFD trading account. If you want to claim the bonus, deposit a minimum of $500. 

Choose the market you wish to trade e.g currency pairs  or commodities. 

You can select the order type, the amount and also place a stop loss or take profit. 

CFD trading fees on PrimeXBT are attractive and competitive in the market.

PrimeXBT has regular, ongoing trading contests to keep you engaged. 

In addition, you can also join the affiliate program or participate in their referral system which can be highly rewarding. 

How to Withdraw Funds from PrimeXBT

Withdrawing Funds

What is the minimum and maximum amount for a withdrawal?

There is no minimum or maximum required withdrawal amount. However, it should be more than the withdrawal fee for the asset you wish to withdraw.

What is the withdrawal fee?

The withdrawal fee is a flat fee, meaning it remains the same regardless of the amount being withdrawn.

• Crypto withdrawals:

  • For BTC: 0.0005 BTC

  • For ETH, USDT, USDC, and COV, fees vary depending on the network used:

    • ERC-20 network:

      • ETH: 0.002 ETH
      • USDT: 10 USDT
      • USDC: 10 USDC
      • COV: 5 COV

    • BEP-20 network:

      • ETH: 0.00007 ETH
      • USDT: 0.8 USDT
      • USDC: 0.8 USDC
      • COV: 2 COV

    • TRC-20 network:

      • USDT: 0.8 USDT
      • USDC: 0.5 USDC

• Cash withdrawals:

  • For Advcash and Perfect Money: 5 USD

Are there any limits on withdrawals?

• Crypto withdrawals:

  • Each account has a daily withdrawal limit of 20,000 USD, or its equivalent in other currencies for all submitted withdrawals. This limit can be removed by verifying your account.
  • The current daily withdrawal limit of your account can be viewed in the ‘Settings’ section of your account.

• Money withdrawals:

  • You can withdraw money only using methods (Volet, Perfect Money, or other alternative methods) that were previously used to make a deposit.
  • If you’ve made a deposit using a Bank Card, you must first withdraw funds back to your Bank Card before using other methods (such as Volet, Perfect Money, or other alternative methods).

You can withdraw your funds or profits by simply transferring funds from your trading accounts to your wallet. 

Withdrawals requested before 12:00 UTC will be processed on the same day. Any withdrawals requested after 12:00 UTC will be processed the next day.

Confirm the withdrawal by providing the code sent to your email. 

You can see the status of your withdrawal on the dashboard. 

Conclusion

So far, PrimeXBT has certainly lived up to the hype. This platform makes it very easy to capitalize on crypto’s volatility in a smart, calculated way.

From research and analysis to order entry and execution to position management, every step feels refined and built specifically for traders looking to optimize their edge.

It’s clear why PrimeXBT has cultivated such a devoted trader community. They genuinely prioritize providing an empowering, transparent experience from start to finish.

I highly recommend checking out PrimeXBT and seeing how their leveraged products can potentially supercharge your results.

Just be sure to implement all the risk management principles we’ve discussed and never over-leverage yourself.

Originally published on Decentralised News.

Start using on PrimeXBT: https://u.primexbt.com/decentralisednews