PrimeXBT Review – A Recommended Cryptocurrency Broker

PrimeXBT Review

Although there are so many trading platforms present in the market, there is one that stands out the most: PrimeXBT. Many people have not heard of this trading platform, but that is okay because we will be discussing it in the PrimeXBT review to give you a better idea about its services and features. Now, why is it that a lot of people have not heard of this trading platform? One reason is, like I said, that the market is filled with so many trading platforms that it has become extremely difficult to look for a decent platform.

If we go back in time to when cryptocurrencies were introduced in the market, it was then that the market experienced a huge influx of both traders and platforms. Why was this? Because before cryptocurrencies were introduced, online trading was not very popular. Yes, some people used to trade and invest, but the number of traders was not massive. And people were also hesitant because they used to think that trading was for the elite class, and you can say that there was a lack of awareness due to which people refused to trade. But after the introduction of cryptocurrencies, it all changed.

People realized that there was scope, which is why they started to invest in making high returns. But when cryptocurrencies were first launched, it was not so popular, as people were hesitant to invest in it and did not trust the concept of digital currency. This was because people didn’t understand the benefits digital currency provided, and they thought it would not be a successful investment. And because of this fear, people realized very late that cryptocurrency was indeed the future currency. As a result, Bitcoin was the first cryptocurrency to be introduced in the market, and as I said, it was not a success at the start.

How was this obvious? Well, bitcoin’s market value was so low that everyone thought it would not last a long time, but then in 2017, the few people who had invested in it became millionaires overnight. That is when the cryptocurrency craze began, and ever since then, people have been racing to get even the tiniest amount of Bitcoin or other altcoins. When everyone realized that Bitcoin was a success, more cryptocurrencies started to get introduced in the market. And if you check out the market now, you will find over 5000 cryptocurrencies, some of them are popular whilst others might be here for a short time. But the reason why cryptocurrencies are very popular is because of their nature and features.

The system for cryptocurrency is called a decentralized system which essentially means that no one controls it. Still confused about what decentralized means? Think of it like this: the normal currencies we use, called fiat currencies, have a central authority, such as the government, but cryptocurrencies have no central authority. This means it is not monitored or controlled by any company or individual. This is a feature which people take as a benefit and as a disadvantage both, it just depends on how you want to look at it.

Some people are still hesitant to invest in cryptocurrencies because they do not trust them due to the unregulated system. And because scams have gotten very common, many traders have become extra careful and avoid any asset or company that is not regulated. But at the same time, there are thousands of people who prefer investing in cryptocurrencies due to them not being regulated, and this is because it helps them buy or sell without having to deal with a third party. Other than that, cryptocurrencies are also very volatile, and you have to keep this in mind before you decide to trade it or not. When an asset is volatile, nature is very sporadic, and the market value can fluctuate suddenly due to it. Therefore, some traders would be able to handle it whilst others would find it too risky.

This is why it is always important to research and be aware of things before you get into it, such as the trading platform you choose. If the decision is not made carefully, you could be jeopardizing your entire career, and it would affect you massively. This includes researching a trading platform before choosing it, and why do I keep on repeating this? Because I had mentioned earlier, the modern era has evolved, which has caused a rise in the number of scams in the market. But with time, cybercriminals have gotten very smart too, and there are so many that pose as brokers or exchanges to trap customers. Just like that, there could be a scammer behind a trading platform and is only fooling you so it can steal your money.

I am sure that you do not want that like no trader wants to lose their money or information, and in that case, you have to make sure to choose the trading platform wisely.  I also know that traders these days struggle a lot to find decent brokers, and that is why I decided to share my experience with PrimeXBT. This is a trading platform that is so distinct from the rest, and it still surprises me that I was so lucky to come across it. Trading through such an excellent trading platform is much different than when a platform is of average quality. And you will realize the difference, too, when you read the full review. In this review, we have discussed the services of PrimeXBT, which are outstanding and will offer you a great time in the trading world.

About PrimeXBT

Like I had said earlier, researching a trading platform before making things official is a must, and that is why I will give you a brief overview of this company. This is a company that was first established in 2018. PrimeXBT was introduced in Seychelles, and it was by the name PrimeXBT Trading Services. Ever since it was created, the company has become so popular, and people have loved what the platform offers. This is what led to its expansion internationally, and you will be able to access it from 150 countries. But in 2019, this company settled in St. Vincent and the Grenadines. This company is also huge as it has three different offices, which around 40 employees manage.

Trading Platform At PrimeXBT

A trading platform is a feature that cannot be ignored as it is very significant to the trader’s career and experience. But it always seems like people are not aware of this since they continue to ignore what training platform is being provided. There are many brokers which you will find on the web who deliberately neglect the needs of their customers, and they choose to offer an average trading platform. But that is not helpful for the traders, and you might question what a trading platform is? This is software provided by the broker or exchange, whichever you work with, and it is used for many different trading activities. For instance, if you want to trade, they will be executed through the trading platform, and similarly, you will get access to the market through the platform.

You might be confused about the difference between a good and a bad trading platform. A good trading platform is advanced, has a high speed, and has many tools and services that traders can access. On the other hand, the type of trading platform which all traders should avoid is slow and lags. And you will find so many platforms that do not take it seriously; therefore, they provide the customers with access to a trading platform that lacks good quality and many other things. So is it not better to avoid that altogether? The only reason traders have to choose a firm carefully is that their trading experience does not get ruined, and that will happen if the training platform you use is outdated and slow. It will affect your trade execution and will slow down your profits. And if there is a platform with all the best qualities except for a good trading platform, it is still not good enough to avoid working with it.

Now, if we talk about PrimeXBT, it’s a great firm to work with, and it considers all its customers’ requirements. That is why it has been so successful till now because it has always catered to the needs of its customers. The trading platform of PrimeXBT is amazingly so advanced and reliable that customers would never have a problem with it. You will have access to some of the best and most recent trading tools, which will help your performance increase. Suppose you are interested in checking the market updates and executing orders after that. In that case, this trading platform will help you even more because it is so advanced, and it has tools that specifically help analyze the market data.

Another great feature that customers can access is customizing your platform’s layout, and it may not seem like such a huge deal to you now but trust me, it is. This feature allows customers to customize everything to their preference, which means choosing how you want your platform to look, which will be different from other traders. In addition, you can select the type of market data to show and what tools to make it more accessible. So this indicates that PrimeXBT is all about providing you with ways to create ease and comfort in your trading experience.

Other than that, you can also access the professional charts, which are extremely beneficial in trading as they help you use trading indicators and other drawing tools. You will also get the chance to have multiple order types simultaneously, and this is a way for traders to work on their trading strategy. Through this feature, you can choose a more flexible method for you when it comes to trading.

Asset Index

The next thing customers should be very concerned about is the asset index of a trading platform because this determines what types of assets you will be trading and how successful your trading experience will be. And I get that you might think that an asset index and a trader’s career success rate are not linked, but trust me, they are. Since every trader is different, you cannot expect them to want to trade the same asset, and that is why if a trader is interested in exchanging cryptocurrencies. Still, that option is not available, and they are bound to choose a second-best option. But this might not make them so happy, which will mean they are not motivated to trade, and it can lead to them quitting the field or just losing all their investment.

But this is something that many trading platforms fail to understand, and they group all the traders into one category. This leads to the general belief that all traders would want to trade a similar product which is completely false. Every trader has different needs and goals, and whatever asset they choose to trade depends on those factors. For example, let’s say that a trader signs up with a platform, and they only offer the user to trade cryptocurrencies since it’s the most popular choice. Who is to say that the trader would be interested in trading cryptocurrencies? Maybe the trader cannot afford to invest a huge amount or is scared of investing in such a volatile asset. Yes, this can be possible even though cryptocurrencies are one of the most popular and successfully trading assets globally.

So to cater to multiple types of traders, a platform has to ensure that the asset index is pretty big and would consist of varying options. Not all traders are interested in only the most popular assets, so many prefer smaller trading assets that are not that popular. Another thing that many trading platforms forget is that traders grow out after a while, and no one wants to trade the same asset their whole life, which is why it is always recommended to keep your options open. This means that the more variety a platform has in assets, the better it is. Many traders are interested in broadening their trading portfolios, and how do you think that happens? By diversifying your investments which can only happen when you invest into multiple trading assets.

Diversification of investment also saves traders from suffering huge losses, and they can instead get lucky and make huge profits. You can try this out with PrimeXBT since it has a major trading index that includes options like cryptocurrencies, indices, commodities, and forex. Now each of these is different, and they all have other properties, which is why you should be careful when choosing the asset you want to trade in.

Security Is Unbeatable

When a platform has all the qualities you are looking for, it becomes important to check the security measures taken by the platform so you can make up your mind if it is the right option. I say this because if there is one feature you cannot ignore and compromise on, it is security. The minute you forget the security measures taken by a trading platform, it will be as if you do not mind getting your money and private information stolen. Both of these things are very important to a trader, money and information, and if they ever get into the wrong hands, it is almost impossible to do something about it.

This is why I think that rather than getting scammed and losing everything you had, it is better to be cautious and research before choosing the trading platform. This would also help you to ensure that the experience is good for you. Although it is easy to say that a trader wants security, it is not easy to get it. You already know that the trading market has become online, and during that process, many security risks have arisen due to which traders got scammed etc. The best way to stay protected is by choosing a secure platform such as PrimeXBT. This is one of the few trading platforms which takes security very seriously, and to protect its customers, it has invested in some security protocols.

PrimeXBT has used a really good cybersecurity framework that is effective and makes sure that everything is done to protect a customer’s assets from getting accessed or stolen. The trading platform has also incorporated SSL encryption, which helps protect all the information entered by traders on the site. This has proven to be very helpful and has prohibited hackers, scammers and many other cybercriminals from accessing sensitive information. What encryption does is convert all the sensitive data into codes that are impossible to decode, and then hackers have no use of this information.

PrimeXBT also encourages the users to use the 2FA, which is one of the easiest and best ways to protect your account from any hackers or scammers. It makes sure that no unauthorised person or third party can access your account. Other than these things, PrimeXBT has also used cold storage to provide customers with protection further. Cold storage is a safe way to protect traders’ assets, and since it is an offline storage type, hackers and scammers cannot access it since there is no web or internet attached to it.

Conclusion

If you are a trader that wants to start trading with the best experience, then do consider PrimeXBT as it will never neglect your needs, nor would it ruin your trading experience.