What the Hell is PrimeXBT and Why are 125,000+ People Already Signed Up & Waiting to Trade on it?

Recently I’ve been hearing and seeing a lot of posts about a new cryptocurrency trading platform called PrimeXBT. So my crypto curiosity kicked in and I went and did my research to see what all the fuss is about.

The core feature of the new trading terminal is the ability to utilize up to 100x leverage on all types of positions, be they long or short. Such high leverage and the ability to short bitcoin (or any other crypto for that matter) is yet a rare possibility on the majority of crypto exchanges, with maybe a handful of legitimate providers.

So is trading with leverage a good idea?

One of the reasons that leverage is not commonly offered to crypto markets is largely due to its volatile nature in comparison to forex or equity markets. However, some the most popular crypto-assets like Bitcoin, Ethereum, Ripple, Litecoin, EOS, etc., have now been around long enough and demonstrate a history that follow typical market trends and patterns. Plus with enough volume and activity in these markets, traders can actually use this volatility to their advantage when used in alliance with high leverage to profit from relatively small but predictable price movements. To make the same kind of profit you might do over the course of weeks or months in traditional fiat markets, you can potentially make in just one day with crypto.

Trading Bitcoin with leverage vs. no leverage

As an example, say you want to buy 2 BTC at a price of $5,000. To open such a trade on a traditional crypto exchange you would need to pay $10,000. If the Bitcoin Price goes up by 5% (to $5,250), so those 2 Bitcoins are now worth $10,500. If you choose to then sell them to secure your profit, you’d have made $500 from your original $10,000 investment.

Now let’s compare that to 100x leverage on Prime XBT. Here you would only have to pay 1% of $10,000, or $100 to open the same trade. If Bitcoin’s price rises by 5%, you will still have made the same profit of $500, but at a considerably reduced cost.

What happens if you lose in a trade with leverage?

Using this same example, if the trade was unsuccessful and the market turned in the opposite direction than what you had predicted, all you stand to lose is your 1% margin, not 100x your position. Furthermore, stop-loss and limit orders can be implemented to premeditate when you want to enter and exit a trade and limit your loss potential based upon what you’re willing to risk/can afford.

Shorting with leverage

As mentioned, leverage can be applied to any kind of trade on PrimeXBT, including short positions. This means that traders can profit from a crypto-asset as its price is declining by placing a bet against it. This is done by lending from the platform in order to sell a certain amount of the asset, with the intention of buying back the same amount, but at a lower price. The difference in the sell and buy price is the traders profit, once the initial loan in paid back to the platform.

So say Bitcoin’s price fell by $100, and 100x leverage was applied, a trader would profit $10,000. This is great news with the recent state of the crypto market, having been in a bearish phase for the majority of the last 12 months. Just as stock and forex traders have done for centuries, crypto traders can now trade with the trend with PrimeXBT, rather than sitting back and waiting out for the next market rally.

The best part… Liquidity and no KYC!

PrimeXBT is the first platform to effectively aggregate liquidity, and from 12 of the leading exchanges. This means that Prime XBT traders will get the best possible price across all of the most popular exchanges without having to leave the one platform. Prices are in real time, so order execution is lightning fast, as a result mitigates the risk of slippage.

There are no KYC requirements; sign up takes less than a minute.

Available pairs for trade are: BTC/USD, ETH/USD, XRP/USD, LTC/USD and EOS/USD.

PrimeXBT goes live in less than a week, on the 4th Feb 2019. With what I’ve come to learn, it’s no wonder there are over 125,000 traders ready and waiting for the platform to launch.

Find out more at PrimeXBT.com.



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