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PrimeXBT Exchange logo

PrimeXBT Reviews 2021 - Is It Safe?

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Country: International
Launched: 2018
Site: primexbt.com
Pairs: 10
Mobile app: iOS, Android
Expert Review
Dec 08, 2020

Crypto trade that is able to provide you with digital currencies along with well-known monetary tools as foreign exchange market, Nasdaq and S&P500. This all is about Prime XBT, which allows you to exchange digital currencies and conventional monetary instruments. Commodities, indices, stocks, fiat money, and cryptocurrencies within one account is a dream of every active trader.. Many fruitful decisions can be made as the exchange is amazingly easy for operating. The leverage levels are 100x and raising to 1000x for foreign exchanges. Prime XBT platform can be accessed by brokers from over 150 countries around the world.

  1. What Is Prime XBT?
  2. Main Features
  3. Fees & Costs
  4. What Is Turbo For Prime XBT?

What Is Prime XBT?

Prime XBT is an exchange that allows users to trade multiple kinds of assets including cryptocurrencies. The platform was launched in 2019. Prime XBT is enabling users to operate various resources such as cryptocurrencies, foreign exchange market, amenities, and many other.

This will give dealers another intriguing option to diversify their portfolios with new classes of assets. It is attempting to acquire a part of instruments and intermediaries working in the economy like Futures and CFD.

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The marketing strategy within PrimeXBT focuses on utilizing the exchange within various intended resources. Prime XBT users can take advantage of margin trading with the 100 and 1000 leverage. This feature is available for 6 currencies. These are going to be examined in detail in this article.

Main Features

Prime XBT is a brilliant cryptographic cutting-edge trade platform for brokers searching for an opportunity to get a closer acquaintance with digital money and earn via cryptocurrencies. Some remarkable features of this exchange:

Bitcoin-based. Giving an opportunity to store and trading different top cryptocurrencies. Generally, the platform is designed for the BTC-based trades if we speak of cryptocurrency trading.

Margin trading supporting fiat and crypto. Capacity to edge exchange conventional resources just as top digital currencies. The platform upholds in excess of 50 resources to unite customary and cryptographic financial realms. 

High speed. The exchange has a huge liquidity that guarantees swift trade transactions. Moreover, the dev team provided the platform with a powerful matching engine to ensure that the normal request to be performed within a few milliseconds.

Support of social (or copy) trading. The exchange incorporates straightforward connections that helps users to be united with other crypto social platforms, so customers can follow and consequently duplicate the activities of top-notch brokers.

Low fee rates. The platform is incredibly straightforward when it comes to fees and gives probably some of the least expensive rates, reduced expenses to be overseen.

Safe mode and protection. The platform is supportive as a secure place, implying absence of compulsory checks like KYC (know your customer) prior to exchanging. However the case might turn out, the platform lacks organizations together with different enemies of illegal tax avoidance specialist co-ops. 

Fees & Costs

Discussing charges or expenses, Prime XBT is one of the top-performing here. The exchange is yet to charge costs for the storing, but it does not, yet for the withdrawal to charge you for more than 0.0005 BTC – this is how much it costs to deal with your Bitcoin trade. Then again let us take BitMEX, which is another renowned cryptocoin subordinate trading platform, moreover it is said to be of charge only for a part of costs when speaking of BTC cost for trading, notwithstanding, some of users have believed that it was going to pose a charge to 0.001 BTC or more, which still can’t be regarded as something costly. 

Some other main expenses characteristic of “Prime” are connected with the fee for trading, as well as financing overnight. 

You will be charged this trading fee for each situation when there is a position opening or closing:

  • 0.05% as per cryptocurrency deals 
  • 0.01% per records or items 
  • 0.001% per foreign currency positions

Some of the rival platforms come up with discounts necessary for marketing specialists, the Prime XBT exchange can be regarded as a go-between reliably paying the demand for giving it to the provider of liquid payments. 

Noticeable are some of other conditions for trading like that of trading within the exchange can be regarded like that.

Caused exactly to follow is that overnight financing, connected with an empty position to be passed on into one more period. The session for trading at the platform is over at 00:00 UTC. On the condition that there is a position for opening and closing during a comparative trading day, there is still no Overnight Financing cost to be charged for all those means. 

Intended as self-evident, the service for traders has so far the prime, reduced costs accessible for trading, making this very exchange an extraordinary finding trading for advanced money, as well as several more edge instruments for financing. 

This platform is inconceivably clear concerning some of the charging costs, as well as simplified content necessary to be sorted out – still no mysterious charges. 

What is Turbo for Prime XBT?

The regime called Turbo is the uttermost feature which users can boast of in connection with the extension of their “Prime” accounts. It grants customers betting opportunities for both assets and different timing borders. Accordingly, a user is able to gain 90% or more for his betting level understanding the speculative price for this or that interval. With this mentioned, on the off chance that you get some misguidance, one is able to forget all contributed aggregates. For each and every Turbo regime module asset there is some peculiar payout opportunity and understanding terms. 

Besides, Turbo gives you a free 1 Bitcoin demo account, so you can offer it a chance without taking a risk with any resources. If you decide to offer it a possibility with certifiable money, realize that this thing suggests a high peril of quick capital mishap. 

Is Prime XBT Safe? 

Security is all around the most fundamental piece of any exchange website. Prime XBT has not been hacked at this point, which is one of the reasons to believe that the service has a strong protection. Given the consistently developing information on cutting edge cash trade hacks, conceivably the essential considerations for the merchant is security. This is also one of our essential outline models concerning assessing a trade.

A colossal piece of the bitcoins put away on the exchange's wallet are kept in cold wallets – secure breaking point shot away withdrawn to confine the odds of unauthorized access. Assets that are needed to cover standard withdrawals are being held in a hot wallet. The exchanging between the hot and fresh wallets ensures utilizing multi-signatures, which is viewed as a standard protection effort in the business and assists with working with the dangers of having a solitary spot of disappointment. 

Other security features applied by the Prime XBT team include joining the Cloudfare's certification against Distributed Denial of Service Attacks (DDoS). The platform's staff has been working with Amazon Web Services partners, giving it adequate ability to run its unprecedented and fit exchanging mechanism.

All the information shared among you and the exchange is encoded utilizing full SSL encryption and is basically difficult to break.

On the client side of things, or, as it is called, concerning client security, Prime XBT licenses you to get your record utilizing a solid email despite there is another strong security measure namely Google Authenticator-based 2FA (2-factor confirmation). Furthermore, it ensures your baffling articulation and security by hashing them utilizing bcrypt with an expense factor of 12 and scrambling any overabundant sensitive information.

In like manner, there is a region whitelisting highlight, which grants you to pull out assets for pre-upheld areas from a certain point of view. This can assist you with impeding moves to unapproved wallets, which is profitable in the event that anybody gets unapproved authorization to your exchanging account.

Prime exchange’s security gives huge props for ensuring their client's protection, as well. It doesn't compel you to pass any fundamental KYC (know your customer) checks and doesn't interface your information to your initial name, which is an enormous achievement for their clients' security ordinarily. You can't be subjected to focused hacking if nobody can remember you.

Additionally, the Prime XBT exchange allows users to see if any unauthorized activity is taking place in the account — whether it is suspicious signups, trading activity or withdrawal attempts. By large, Prime XBT can be considered as a safe exchange. Notwithstanding acting typically directed, it makes up for that by offering its clients all-around security to the degree record security and affirmation.

Conclusion

With everything considered, a forceful part of the exchange lies in the rich trade opportunities. Still presumably expected to be going on expanding committed customer base and for becoming a head objective for edge dealers, newcomers and veterans, paying attention to convenience, security, and continually creating arrangements for progress.

Our Score
Functionality 5 / 5
Reputation 4 / 5
Security 4 / 5
Support 4 / 5
Fees 4 / 5
Our Score
4.2 / 5

pros

Diverse functionality

Margin trading

Strong security

cons

Not regulated

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User reviews
Martin Alekseevich 13 May, 1:33 PM
4.0

Decent exchange

Country: International
Launched: 2018
Site: primexbt.com
Pairs: 10
Mobile app: iOS, Android