Because of the massive boom in cryptocurrencies and the lack of regulations, there’s been an explosion in trading platforms across the market. Newcomers are popping up by the day, and the old guard is failing to keep up with the times.
Over the last few years, however, PrimeXBT has become established and now has enough time in the market to have proven if the platform is all the company – and its users – say. Here are the top five reasons to choose the award-winning cryptocurrency trading platform over others.
Go Long, Short, Or Even Open Hedge Positions
We’ve included this reason right up front to start the list because so many crypto investors learned the hard way recently that normal cryptocurrency exchanges don’t provide the tools needed to get the most out of Bitcoin and Ethereum’s notorious volatility.
Speculative assets like crypto have wild price swings, often unexpectedly, which leaves long-term holders exposed to losses. Losses can last several years depending on when the investor buys in relation to the overall trend.
The only way to prevent losses on spot trading platforms and crypto exchanges, is by selling crypto assets into cash. But that leaves no opportunity to profit from when the market is rising instead and can leave investors behind if the market moves too quickly in the opposite direction.
To combat the characteristic cryptocurrency volatility, traders can rely on PrimeXBT’s CFDs to open long and short positions across crypto, forex, stock indices, commodities and more. More than 50 different trading instruments are available for deep portfolio diversification. The platform allows both types to be open at the same time to build hedge positions for even greater control and capital management.
Built-In Technical Analysis Tools From TradingView
Accessing TradingView requires setting up an account and higher account levels need a premium to access. PrimeXBT includes built-in technical analysis software from the industry standard TradingView, for absolutely free.
Traders can find support and resistance, draw trend lines, and review indicators and oscillators to look for signals that can help them predict which way the market turns next. These same tools can tell a trader when to go long or short, or where to place a stop loss protection order.
The software includes all of the most popular technical indicators, such as the Relative Strength Index, MACD, Ichimoku, Parabolic SAR, and much more. Technical analysis when used in combination with fundamental analysis, sentiment analysis, and skills can lead to regular success.
Covesting Copy Trading And COV Token
For those that can’t quite get the hang of chart patterns or are getting stopped out left and right at a loss, maybe it is better to leave the trading to the pros. Fortunately, with PrimeXBT, anyone can become a follower and instead of trading on their own, they can copy the trades of strategy managers.
Followers can pick which strategy manager to follow based on their past success, which is tracked and ranked by performance and profits on a fully transparent global leaderboard system. Followers make money from winning copied trades, while strategy managers earn a cut from trading with follower funds.
The COV token unlocks unique account utilities within the Covesting copy trading module on PrimeXBT, which can lower trading fees, increase the profit share of success fees, and much more. COV tokens are available at other crypto platforms like Kucoin or Uniswap.
Revenue Stream Via Referral Program
Part of the appeal of PrimeXBT is the four-level referral program and how much the platform lends itself to simple promotion. There’s an easy to use referral URL to share with family and friends, a marketing kit, and more.
Bringing in users earns the referrer a commission, and each new person they bring in also earns the referrer a commission – at up to four levels. That means building a large referral network that drives regular revenue can be as easy as sharing on social media regularly.
If you are a large trader with a following, there’s also an ambassador and CPA program. Top earners have brought in more than $1.8 million and millions more have been awarded to those who spread the word about the platform.
Reputation For Safety, Security, And Success
Recommending PrimeXBT to others as part of the referral program is something you can feel good about, as you’re setting them up for success and sending them to one of the safest and most secure platforms around.
The reliable trading engine has never experienced any significant downtime, and there’s never been a hack due to the unique cold storage process for storing client funds. A commitment to customer safety keeps withdrawals to just once per day, but in exchange the account system is hack-proof.
In addition to the clean history free of any issues or controversy, PrimeXBT has also been recognized with several industry awards, noted for its client-focused approach. The company creates tools that benefit the users more than the broker itself, which has earned the platform a strong reputation.
More Reasons Are On The Way
As no stranger to innovation, PrimeXBT and its partner Covesting have all corners of the crypto industry covered. If there weren’t enough reasons already, more reasons to choose PrimeXBT are already in the works.
An already announced Covesting Yield Account system slated for later this year will introduce yield-generating DeFi protocols to the PrimeXBT user base for the first time. The tool will connect users to top DeFi protocols like Uniswap and Pancakeswap to access the industry’s best variable rates.
Covesting Yield Accounts are scheduled to go live in Q3 2021 according to a blog post revealing the upcoming feature. DeFi has become extremely popular, but can be complicated to understand technically for newcomers. Covesting once again has made a solution for new users and pros alike, and it will once again live on PrimeXBT.
There’s a growing waitlist to join to secure an introductory APY boost, which can be accessed within the PrimeXBT dashboard.