PrimeXBT Review — An Honest Look At The Future of Crypto Trading
Following the disastrous leak of tens (or potentially hundreds) of thousands of traders emails by Bitmex, I decided to permanently move away from the market leading exchange based on one reason alone: my identity (and subsequently my security) is worth more than a pretty UI. There are many different options when looking for opportunities to short bitcoin and cryptocurrencies and what sets these exchanges apart can lead to financial freedom or ruin rather quickly. I decided to try out three of the newer exchanges in the cryptocurrency market: Deribit, bybit, and PrimeXBT. This article lays out exactly why I chose to move the majority of my trading with PrimeXBT.

Please Note: This is an independent review of the cryptocurrency derivatives exhange PrimeXBT. I am in no way affiliated with the platform and have not received any financial compensation for writing this exchange.
PrimeXBT was born out of the need to solve many of the issues that plague the cryptocurrency market, mainly: low liquidity, unexpected down-times, and the oh-so-dreadful KYC approvals. Let’s take a look at exactly what sets this exchange apart from its competitors.
NO KYC REQUIREMENT.
Yes, you read that right. The number one complaint among crypto traders is that KYC rules inherently place the non nefarious actors in the space at huge risk. PrimeXBT has explicitly stated that they will not ever require a trader submit KYC in order to deposit, trade, or withdraw from its platform. Anonymity is the #1 ally to those within the cryptocurrency space — CHERISH AND PROTECT IT!
GROWING LIQUIDITY.
Over 150,000 traders signed up to trade on PrimeXBT’s platform prior to opening its exchange to the public. Generally plagued by a lack of liquidity on the order books, PrimeXBT has rapidly grown since its inception and currently ranks in the top 10 at just over $190,000,000 traded over the previous 24 hours. As more and more traders leave Bitmex due to scandals, PrimeXBT well positioned to see a gradual increase in traded volume and could land within the top 5 very soon.

HARDWARE THAT SUPPORTS HEAVY TRADING.
PrimeXBT, as well as many of the other new 4th generation cryptocurrency exchanges, were built with high volume in mind. Where exchanges like Bitmex routinely suffer from hardware failure leaving traders at the mercy of “server overloads” and other facetious acts, PrimeXBT (as well as competitors such as bybit) seem to have seamless order execution and low latency even during volatile times in the market. If you’re an experienced trader, you understand the repercussions of an exchange that may or may not intentionally implement faulty hardware.

LEVERAGE UP TO 100X.
One of the biggest downfalls when looking at other exchanges was that the amount of leverage provided seemed inadequate compared to Bitmex’s 100x standard. PrimeXBT offers up to the same 100x leverage that veteran crypto traders have become accustomed to. That means that every trader is able to trade with up to $10,000 per $100 they invest.
TRADE CRYPTOCURRENCY, FOREX, AND CFDs.
My personal favorite aspect of trading at PrimeXBT is the opportunity to trade across three major markets. As every cryptocurrency trader knows, bitcoin and altcoins tend to move up or down very violently, only to then have volume taper off and price remains stagnant for an undisclosed amount of time. When volatility tapers off, opportunities within the crypto market tend to dry up, and over trading becomes the #1 enemy. The introduction of multiple FX and CFD pairs within the same exchange allows a trader to diversify his or her risk and seek profits in other markets.

MAKE PASSIVE MONEY USING THE REFERRAL SYSTEM.
PrimeXBT has hands down the best referral system that an exchange has ever implemented. The team has done an amazing job at incentivizing its traders to help popularize the exchange (in turn, growing the liquidity organically) while giving back to its core clients. The referral system is set up in a tiered system, giving its customers a 20% cut of all trading fees paid by the traders who directly signed up under them. Not a bad way to create some passive income!


INVEST IN YOUR FAVORITE TRADERS FUND.
Traders have been looking for a way to trade along with their favorite traders since the cryptocurrency market was born. Many different iterations have started and fizzled out for various reasons but PrimeXBT is looking to create an industry standard through its recent partnership in Covesting. Covesting allows anyone to create a fund on PrimeXBT which tracks its performance and allows traders to allocate a portion of their portfolio to actively trade along with them. They even pay back a part of the fees to the traders who run the funds! Just another amazing way to build some passive income within PrimeXBT.

To wrap this up, there are definitely many factors as to the fast growth of PrimeXBT. With Bitmex’s client-base becoming extremely disgruntled and looking for alternatives, it’s no surprise that PrimeXBT has leveraged that to their advantage & thus exploded onto the scene. Throughout an extremely small time-frame, they have turned into a fully functional exchange with enough liquidity to combat exchanges such as Deribit and bybit. I hope this article helps you in “doing your own research” towards seeking an alternative to Bitmex.
You can sign up for PrimeXBT by clicking my referral link (which will pay me a nominal amount and start your own referral tree): https://primexbt.com?signup=129720
Happy trading!
Crypto Hamilton
