Competition amongst trading platforms has begun to heat up like never before, with each platform or exchange offering a wealth of new services, features, and more. However, one Bitcoin-based trading platform built on decades of real-world market experience is at the forefront of innovation and stands out from the pack as the best in the market, and one that will only improve and further become the most dominant in 2020.
Founded in 2018, PrimeXBT has already become an industry leader, offering among the most advanced trading tools and widest variety of assets in any market. However, it’s what the fintech company has in store for the future that is certain to take the trading community by storm.
Most traders are keenly aware of the power of trading on leverage. Leverage allows for any initial deposit to be multiplied substantially – depending on the amount of leverage applied – for greater profit potential.
PrimeXBT provides traders with up to 500x leverage on forex currencies, and up to 100x leverage on all other assets, including Bitcoin and the rest of the most popular cryptocurrencies. Traders are able to maximize their profit potential using industry best leverage and grow their capital at a much faster rate than through spot trading alone.
There is risk associated with trading using leverage especially when trading highly volatile assets such as cryptocurrencies, however, PrimeXBT also makes it simple for traders to minimize any risk associated with margin trading by offering some of the most advanced order types anywhere.
The trading platform lets traders not only set a stop loss to prevent the market going against your position to the point of loss, but take profit orders can also be applied to the market, limit, or stop orders. Beyond this, PrimeXBT also offers OCO orders that are both a stop and a limit order in one, where if the stop is hit, a limit order of the opposing kind is also triggered. This ensures traders are able to take advantage of trend changes or if strong support or resistance is expected at a certain price range.
Traders can also take advantage of the platform’s robust, built-in charting tools for technical analysis, complete with helpful indicators, oscillators, and the ability to draw trendlines and place orders directly from the chart itself.
Beyond the trading tools themselves, PrimeXBT has repeatedly shown why it is miles ahead of the competition. PrimeXBT requires no KYC or private information ever from their clients, preventing issues such as what occurred on Binance in 2019.
Binance suffered a data leak where personally identifying photos and important documents were uploaded to a Telegram channel by a hacker who obtained the photos from a loophole in Binance’s KYC process. Since PrimeXBT never requires this information there is never a risk of personal data falling into the hands of criminals on the dark web, or elsewhere.
Traders have also been flocking to PrimeXBT in droves after the mass exodus from BitMEX following a probe by the United States CFTC. Between traders fearful of what happens next to BitMEX, and the ongoing issues surrounding order submission errors and accusations from economist Nouriel Roubini that BitMEX regularly trades against its users, traders have been looking for greener pastures.
Not only does PrimeXBT offer all of the assets and features that BitMEX and others are known for, such as 100x leverage, long and short positions, and a large variety of assets, there are dozens of more reasons traders are regularly choosing PrimeXBT over BitMEX and others.
With global markets in chaos, there’s never been a more exciting time as a trader, and everyone is watching for what will happen next in 2020 – a year where much volatility is expected across all markets. Traditional markets such as popular Stock Indices like the SP500 have started to pull back and could be at risk of falling further amid growing concerns around a US-China trade war. At the same time, fears of a recession have caused safe-haven assets and precious metals such as gold and silver to rise.
Even cryptocurrencies such as Bitcoin have been extremely profitable in 2019 and is expected to reach a new all-time high in 2020 as the asset moves closer and closer to its hard-coded “halving” – a repeating cycle that digitally reduces the supply of Bitcoin miners are rewarded with, throwing off the delicate balance of supply and demand. In 2019 alone, Bitcoin has brought investors over 300% returns at yearly high, and next year is expected to be even more profitable as demand overwhelms supply.
Unlike investors, traders can profit during falling prices and growing markets alike, by taking either a long or short position. Only PrimeXBT combines all these various assets under one roof and exposes traders to this many asset types that are uncorrelated, or even anti-correlated.
By gaining exposure to so many markets on one trading platform, traders can short falling markets while taking a long position in others, hedging their portfolio and further minimizing risk. With PrimeXBT, traders never have to leave an opportunity on the table.
PrimeXBT also recently reduced overnight financing fees on crypto assets, and reduced the trading fees on forex currencies, gold, and silver, putting even more profit back into the pockets of traders taking advantage of the platform’s tools successfully.
The timing of extreme market volatility ahead lines up perfectly with investors showing increasing interest around cryptocurrencies. Investors have seen Bitcoin skyrocket in the past, have witnessed the 300% gains it’s generated thus far in 2019, and do not want to miss out in 2020 when Bitcoin’s halving is expected to drive up the price exponentially.
PrimeXBT also serves as the best platform for this new wave of inexperienced traders, who can quickly learn how to take full advantage of the advanced trading tools offered by PrimeXBT by going through the extensive tutorials and tips offered by the trading platform. For those that would rather take a shortcut to profits, PrimeXBT has prepared a full scale peer-to-peer fund management module designed to take the guesswork out of trading and provide easy access for new traders interested in cryptocurrencies to get started.
PrimeXBT throughout the year has expanded upon its asset offering and continues to hone its feature set to become the most attractive platform for traders, and in 2020, will only continue their track record of innovation and wild success.
In August, PrimeXBT launched a live preview of the Covesting module – a massive-scale peer-to-peer fund management module, complete with public online rankings, and much more. Bringing together all of the features and assets offered by PrimeXBT, the Covesting module is the result of a partnership with third-party platform Covesting, and lets skilled and experienced traders create funds for less experienced investors to invest capital in.
Top traders who show repeated successful trading strategies and a high rate of return over time, and who market their funds effectively can grow the capital they trade with to incredible heights by attracting more and more investors to the fund. Investors receive a portion of the success fees generated by these top traders. The end result is new and experienced traders earning alongside one another, growing their profit margins and capital.
The cutting edge tool will be ready soon, and in 2020 will have amassed a large following of traders filling up the public rankings with winning trades. Traders will market themselves to the trading community at large, bringing in more and more investors and traders to the platform who seek to take advantage of the benefits the Covesting module offers.
The platform has already grown exponentially in 2019 due to word-of-mouth spreading like wildfire about the platform’s advanced trading tools, unmatched asset offering, an unwavering commitment to client privacy and safety, and through a lucrative referral and affiliate program that has helped the platform go viral.
With no signs of slowing down the unstoppable growth, more features and assets being added on the regular, and with the emergence of the Covesting module, it’s clear to see why PrimeXBT will be the most dominant trading platform of 2020.
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