The main property of PrimeXBT It comes with the ability to work with a wide variety of market options that are available to users in more than 150 countries worldwide without any restrictions.
Cryptocurrencies have brought important opportunities within the business environment, especially for those who see these assets as an investment opportunity due to their technological benefits and the high volatility to which their prices are subject.
However, there are currently very few platforms on the market that offer this opportunity for people interested in a large number of countries. These ultimately implement very rigid mechanisms and controls that hinder the experience, and they also lack security guarantees to keep user resources safe.
For this reason, we present the platform below PrimeXBT, a market service that mainly works with Bitcoin, This gives users the ability to perform a variety of commercial operations, including leverage options for those who want to make a bigger profit with a minimum investment.
Some facts about PrimeXBT
PrimeXBT is a platform based on the use of BTC, This offers users different trading options for different types of digital assets, fiat currencies and stocks in traditional markets.
Therefore, the service has officially started operating in 2018 and is currently operating in more than 150 countries. It offers a solid bargaining system that takes into account the needs of both people who take their first steps and those with more experience. PrimeXBT It is characterized by the management of a solid infrastructure, the operations of which are carried out by the servers Amazon AWS, Rely on multiple suppliers’ high liquidity to ensure accurate pricing and availability of trading orders for available assets.
According to the side of PrimeXBT, A key focus of the service is on the security of operations and user assets. Therefore, they use two-factor authentication systems, a system with multiple signatures and cold rooms to ensure the integrity of the housed funds.
How do I work with PrimeXBT?
To start the operation PrimeXBT First of all we have to open an account on the platform. To do this, we have to go to the button in the top right corner marked as “To register” and click there.
Once this is done, the service will ask us for an email address and password. A message with a confirmation code will then be sent to this email. This is an important aspect PrimeXBT does not request personal data or does not implement any measures KYC (Know your customer), so there are no restrictions for those who want to create an account.
After you’ve done all of this, all you have to do is specify the country of residence and the account is available for trading.
Deposit of funds
Before starting business it is very important to have funds within the platform as this is the first step for those who want to use the services they offer. PrimeXBT.
If we just opened an account with PrimeXBT, The service automatically recommends that we go to the deposits section to deposit funds into our accounts. If not, just click the button in the top tab “Account” and then select the option from the menu on the left “Deposit”.
Because the platform only works with funds Bitcoin, We will have two alternatives:
- Those who have money BTC, You can store it on the platform using the QR code / the address assigned to the wallet it contains PrimeXBT.
- Those who have no money BTC, You can buy them through the associated extension Changelly through the use of credit cards. The equivalent in Bitcoins will be shipped in the wallet inside PrimeXBT Once the purchase is complete.
Important NOTE: The minimum deposit for commissioning must be at least 0.001 BTC.
As soon as the money was deposited BTC, we can see them in the section “Account overview”, where the information regarding the balance of the wallet, the trading account and the history of the operations performed will be available.
Working through PrimeXBT
If you want to start commercial operation, simply click on the button “Trade”, is in the top tab.
Arrived there, PrimeXBT It leads us to a section where all the assets we can trade are available, as well as our respective balances, both of which are expressed in BTC as in USD.
The window on the left of the screen shows information about the different trading pairs that are activated for operations in PrimeXBT, including cryptocurrencies (such as Bitcoin, Ether, EOS, Litecoin and XRP), Fiat currencies (USD, AUD, CAD, CHF, NZD, GBP and JPY) and other products from traditional markets (Dow Jones, NASDAQ, S&P 500, oilamongst other things). We also find information on the best buy / sell offer and the percentage of fluctuations between the two orders.
On the right is a graph that shows the commercial development of the selected pair, whereby the development of the market can be checked at different times.
Types of commercial operations
Before proceeding, the platform provides users with information on some basic concepts that should be clearly understood and that are directly related to the operations that we can perform PrimeXBT.
- Leverage: Type of funding in which the user will be able to conduct commercial operations with margins larger than those covered by their capital for a given investment, leaving room for a higher margin of profit or loss. This allows an initial investment to be multiplied by a certain amount and higher profits to be made based on a fixed profit percentage.
- Long position (Long): Set a limit on buying an asset at a low price and then marketing it at a higher price, if that value coincides with market developments.
- Short position (Short):: Similar to the case described above, only here a sales price for the sale of an asset is set, which is generally high and opens another to buy it again at a lower price, provided that the value matches the development of the market in question.
Type of orders
Against this background, we describe below the type of trading orders that PrimeXBT enables its users to do the following from the platform:
- Market organization (Market organization):: System in which the platform searches for the price at the time of the asset of interest so that the exchange can be carried out immediately and the amount of capital to be invested is determined.
- The limit order (Limit order): Here, the user has the freedom to set the price that he considers fair for the asset in question, regardless of the policy given by the market. This order will be executed if it coincides with a counterparty that meets the specified criteria.
- Stop order (Stop order):: System in which an asset is bought or sold as soon as the value matches a fixed price.
- The OCO command (OCO order): This implies the creation of two jobs of the same or different types, where the moment one of them is executed, the other becomes invalid.
To create a trade order, the user simply searches for the desired trade pair and clicks the button. trade is in the screed.
Next, you need to specify the type of order you want to place (among those described above), the amount of capital to invest, whether it is for sale or purchase, and whether there are execution restrictions.
All that remains is to click on the button to match the criteria “Send order”.
The order and positions are displayed at the bottom of the screen until they are run based on the criteria you set. To keep track of them, we just have to click on one of them and we see detailed information about them, with the ability to make changes, cancel or close, return the funds or the gains / losses on the balance sheet and trading history.
Important: We recommend that you go much deeper in terms of leverage, the nature of the commercial operations and the development of the main markets before doing any commercial operations that take these specifics into account.
Withdraw money through PrimeXBT
Taking that into account PrimeXBT is a platform whose operating model is based entirely on the use of Bitcoin, Users can only withdraw money BTC as long as they are available in the account wallet and are not subject to an ongoing commercial order.
To withdraw the relevant money, users must click the button on the top screen “Account” and select the option in the left menu “Withdraw”. Here you will find the account balance in your wallet and you can enter a destination address with which a label can be linked.
Select the respective address and determine the amount to be withdrawn. On the right side you can see the data associated with the transaction. The amount requested, the associated commission (which depends on the degree of network congestion) and the final amount will be sent to the specified address.
After the information has been checked, all you have to do is click on the “Send for withdrawal” button and confirm accordingly to validate the process. It is important to note that all user withdrawals are processed once a day between 12:00 and 14:00. If the order is received after this period, it must still be carried out the next day.
In the end PrimeXBT offers its users the opportunity to create an affiliate system that enables them to generate additional income based on the activities of the people who enter the platform under a personal link associated with each account.
The affiliate system is divided into up to four levels, where users earn profits from those who arrive via their link and from those who enter the platform through the links of their contacts.
Access to the link Affiliate, just click the top screen of the button “Account” and select the option in the left menu “Income as a partner”. There you will find the corresponding link and buttons that you can release in your accounts Facebook, Twitter and telegram provided you grant the appropriate permissions.
We remind readers that the PrimeXBT It is available in Spanish and 15 other languages. In return, there are segments in which more information about the markets, trading modalities and technical aspects of the platform are offered.
If you want, you can also download the application from PrimeXBT for smart devices that is available for Android e iOS
More information about PrimeXBT We invite you to visit their official channels (Twitter /. Facebook /. medium /. Reddit) or if you want you can check their website directly.
Disclaimer: This is a sponsored and informative article. DailyBitcoin conducted small tests on the platform but did not use it for commercial purposes. It is also not advertised for this or a similar service. We also recommend that you review the laws of your country of residence before using this type of investment service.
Sponsored Article / DailyBitcoin
Images taken from the platform PrimeXBT