During the last year, PrimeXBT’s user base has skyrocketed, and the platform’s trading volume exploded in growth. And it’s not uncommon while browsing crypto Twitter or any of the Reddit cryptocurrency subreddits to see traders clamoring about the ROI generated using the platform’s trading tools.
But what are the reasons behind the rapid growth and traders raving about the platform’s trading tools? Here are five of the most likely reasons.
Bitcoin is now over decade old, and the crypto hype bubble that made the first-ever cryptocurrency a household name is now well over two years ago.
Those that got in early during the bull market, or those that were swept up in the late-cycle FOMO, have now been in the crypto market for two full years or longer. Those recently entering the market since are already accustomed to the more mature crypto market that exists today compared to then.
Oftentimes, people get their start in the crypto space by buying their Bitcoin at Coinbase, or via the Square Cash App. But once these “investors” experience the volatility of Bitcoin and other cryptocurrencies first-hand, they quickly realize the fastest way to profit is by trading these assets on an exchange or trading platform.
They usually will at first try their hands at spot trading on more traditional platforms, but before they have a chance to build their skillset or develop a successful trading strategy, they realize that the bulk of the little profit they generate ends up going toward high trading fees, making the small price movements on spot exchanges feel somewhat useless.
As soon as traders begin trading on a margin platform, the profits begin to pile up. But even that eventually loses its luster and as traders become more comfortable, they also desire to experiment or utilize more advanced techniques and tools to truly improve their ROI.
Few platforms across the cryptocurrency industry offer a professional toolset that satisfies top traders, however, PrimeXBT was built on decades of traditional market experience, so it offers the features that traders crave most. The platform includes built-in charting software so traders always have an immediate edge, without having to rely on a third-party service.
Cryptocurrencies like Bitcoin were long a goal of a group of privacy-focused computer activists called Cypherpunks, who sought to use cryptography to create uncensorable, private, digital money that could be sent and received without the need for a trusted third party.
Their work began far before the advent of Bitcoin or Ethereum, but today, privacy is becoming an ever-increasing concern. Cybercrime is expected to cause as much as $6 trillion in damages annually by the year 2021, and cybercriminals aren’t just attacking individuals, but they’re holding entire city infrastructures ransom, demanding Bitcoin or the privacy-focused cryptocurrency Monero as payment in order to unlock their grasp.
A Google security expert says that cryptocurrencies are like catnip for cybercriminals because cryptocurrencies can help cybercriminals hide their identities, creating much-added risk for those who trade crypto assets.
It’s commonly advised to never disclose how much crypto assets you hold, and take several steps to bolster one’s personal security.
Other safety tips include two-factor authentication, or address whitelisting, two of many security features amiable on PrimeXBT. But the real reason crypto traders worried about asset safety or personal privacy prefer PrimeXBT, is because the platform doesn’t require KYC (know your customer) so no personal information is ever given, therefore no personal information could ever be leaked or exposed via a hack.
The privacy issue came to a head across the cryptocurrency space last November, when a popular margin trading platform failed to blind-carbon-copy its user base in an email blast, exposing the personal email accounts of most of the platform’s traders, putting them at substantial risk.
Hackers quickly began using the information to crack passwords and steal funds, causing widespread fear and uncertainty about the platform.
It’s not just this particular broker, either. Each passing day another crypto platform is hacked, or an exchange’s CEO goes missing with the private keys of all the crypto assets contained on their platform. Exit scams are everywhere. Those that are legit, oftentimes experience flash crashes and other issues, or regularly have downtime. With people’s assets at stake, you’d think these platforms would invest more in their infrastructure to provide a stable, safe experience.
As BitMEX’s reputation falls apart, PrimeXBT’s reputation in the space remains spotless and only continues to shine.
In an independent review conducted by a cryptocurrency trading influencer, PrimeXBT received top remarks ahead of four other competing cryptocurrency platforms, including BitMEX, Binance, Deribit, and Bitfinex – notably for their 24/7, friendly, live support staff.
PrimeXBT also recently launched a Telegram bot, regularly offer free Bitcoin to winners of social media competitions, and provide traders with free detailed market reports to give them an edge.
The regular support, updates, and presence witnessed across social media and other platforms legitimizes PrimeXBT over many others that lack the care or support teams necessary to properly assist their customers base.
Buzz surrounding the upcoming launch of the Covesting Module on PrimeXBT – a full-scale, peer-to-peer asset management module – has also caused an increased interest in the platform as of late. The new service is expected to launch soon, according to a recent blog update.
And one of the final reasons that more and more crypto traders are turning to PrimeXBT is because the platform also offers traditional assets alongside cryptocurrencies Bitcoin, Ethereum, Litecoin, Ripple, and EOS.
During 2019, Bitcoin went on a rally alongside gold, causing much discussion around the cryptocurrency’s use as a safe haven asset, just like gold is used for today. As economic tensions rise, more and more people move their capital into gold, causing its price to rise and become more volatile.
Crypto traders became increasingly interested in gold specifically, due to its similarities to Bitcoin. Bitcoin is often called gold’s digital counterpart, after all.
But it’s not just gold that crypto traders are interested in. Traditional markets like the S&P500 and the NASDAQ have also been rallying, and oil took off following the recent attacks on Iran from the United States. There’s never been a better time to trade the variety of assets listed on PrimeXBT, which include stock indices like those listed above, commodities like oil and natural gas, gold and silver, and forex currencies.
PrimeXBT has a squeaky clean reputation for doing all they can for their users to increase their ROI, including offering low fees, a progressive fee discount system with up to 50% off fees, advanced trading tools, built-in charting software, and much more.
Their customer service is second-to-none, and offers industry-best leverage that beats BitMEX, all without the risk of corruption or closure. No information is ever stored, so none can ever be leaked, keeping not only assets but personal privacy safe at all times.
As the crypto market matures and comes to the realization that traders require a more professional experience, it’s likely that PrimeXBT’s reign only continues to grow from here.
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