Can Beginners Easily Trade Crypto on PrimeXBT?

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PrimeXBT trading
PrimeXBT trading

In order to determine if PrimeXBT is a suitable exchange for crypto trading or not for beginners, you need to take a look at the features and services supported by the exchange. It is a good and helpful practice to explore the features offered by an exchange before you choose it, especially if you are new to the crypto space. Knowing the available features can make it easy for you to determine if they are according to your criteria and requirements or not.

This is one of the best ways to choose an exchange that is secure and suitable for you, especially if you are new to the crypto space. The PrimeXBT trading exchange is one of the newer Bitcoin trading platforms and offers support to numerous asset classes and investment options.

This is a crypto-to-crypto exchange that was founded in 2018 and offers services to users from more than 150 countries all over the globe. It has a customer-centric business model and offers some of the most impressive features to the users.

If you are new to the crypto space and want to use this exchange then here are some details you should know about.

Level of Security Offered by PrimeXBT

Choosing a safe and secure exchange is one of the most important and helpful things you should consider if you are new to the crypto space. This is because there are some security risks in the crypto space that cannot be completely eliminated but can be reduced if you choose a secure exchange.

This PrimeXBT review highlights the fact that it takes the security of the users very seriously, which is why it uses numerous high-end security systems. These security features protect the users’ funds and accounts from any kind of cyber threat or failure.

Here are some of the security systems that are used by the exchange.

  • Use of cold storage
  • Dedicated server for web platforms
  • Two-factor authentication system (2FA)
  • Secured Socket Layer (SSL)

Forex Currencies Supported by the Exchange

As mentioned earlier, PrimeXBT offers support to various asset classes such as CFDs, digital assets and forex currencies.

This exchange also offers support to the trading of major and minor forex currency pairs. Some of the forex currencies that are available on the exchange include:

  • Australian Dollar
  • British Pound
  • Canadian Dollar
  • Euro
  • Japanese Yen
  • Swiss Franc
  • US Dollar

Trading with Leverage

One of the most important things people ask is, “Is PrimeXBT legit?”. Considering the safety systems mentioned above in this review, it can be seen that it is secure and safe.

This makes it one of the best reasons why you can choose the exchange if you are interested in leverage trading because it supports this form of trading. Leverage trading, or margin trading, is also one of the most popular forms of trading.

Even though there are several exchanges that support leverage trading, you need to carefully choose an exchange that is secure and suitable.

This exchange offers one of the highest leverages but it varies from one asset class to another. Here are the details you need to know about.

  • 1:1000 leverage for traders looking to trade forex commodities and indices
  • 1:100 leverage for traders looking to trade digital currencies

Therefore, the amount of leverage you get depends on the asset class you choose to trade.

Fee Structure of the Exchange

The fee charged by an exchange is one of the most important aspects one needs to know about before they use that exchange. PrimeXBT is one of the exchanges that is known to charge one of the lowest and most competitive fees structures.

The fee charged by the exchange can help you determine if it is according to your criteria and requirement or not.

Choosing an exchange with a low and transparent fees structure can make the overall experience easier. Here are the details of the fee charged by the exchange.

  • Low flat fee of 0.05%
  • Withdrawal fee of 0.0005 BTC

User-friendly Interface

Another outstanding aspect of the PrimeXBT trading exchange is that it has a user-friendly interface. This is one of the most impressive features of any exchange because it can determine what kind of experience new, intermediate and expert traders and investors.

This is one of the best trading platforms that is powerful and is also easy-to-navigate. This trading platform, therefore, caters the need of every kind of trader, which makes it an outstanding option.

Key Takeaways!

PrimeXBT is one of the most popular and powerful trading platforms in the crypto space. It offers some of the best features and services to the users. Therefore, if you are new to the crypto space then you need to know the details mentioned above.

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