After more than four years in the cryptocurrency market and surviving two crypto winters, PrimeXBT has cemented itself as a leader in the industry. Over this timeframe, it also introduced so many new features, platform improvements, updates, products, and services that the platform has since completely transformed.
In addition to the award-winning margin trading experience, PrimeXBT also has pioneered crypto copy trading in partnership with Covesting, launched weekly competitions, and much more. What else does PrimeXBT have to offer at this point in its lifecycle?
A Major Player In The Margin Trading Apace
Looking back, the conditions that PrimeXBT launched under were some of the most extreme. The margin trading platform debuted during the 2018 bear market. While most other crypto exchanges struggled to keep the lights on, PrimeXBT picked up new users at an increasing pace as users looked to recoup losses by shorting crypto or were simply looking for a way to profit during a downtrend.
Coinbase, Binance, you name it at the time, they all focused on spot trading exclusively. When the market turned, spot buyers could only hold or sell. Meanwhile, PrimeXBT traders had the total freedom and flexibility of long and short positions and the power of leverage behind every trade. PrimeXBT’s trading tools were designed by professional traders for professional traders. There are even built-in technical analysis tools with more than 50 of the most used indicators and oscillators used today.
PrimeXBT, over the years, began to expand its list of trading instruments crypto. It started with a small list of traditional assets like stock indices, gold, oil, etc., but has since turned into a massive list of forex currencies, commodities, metals, and more. Users are instantly drawn to the fact they can build a diversified portfolio of uncorrelated assets and open hedge positions consisting of longs or shorts.
The Pioneer In Crypto Copy Trading
The first significant change to the PrimeXBT platform was the introduction of the Covesting copy trading module. Covesting is a European-based DLT services developer that shifted its business model toward B2B relationships. PrimeXBT saw this as an instant competitive advantage and formed an exclusive partnership where Covesting services would launch first on PrimeXBT.
The Covesting copy trading module is a peer-to-peer community of strategy managers and followers. At the center of the experience is a fully transparent global leaderboard system that ranks the performance of all strategy managers. Followers can use the intel to pick which strategies to follow. Once following, all trades will be automatically copied, win or lose. Followers can follow several strategies to build a risk-averse and highly profitable trading portfolio.
The entire Covesting ecosystem has since been introduced on PrimeXBT, consisting of copy trading, the COV utility token, My COV section, and APY-generating yield accounts. The COV token is the native utility token to the Covesting ecosystem of products and services. Activating a COV token membership enables exclusive benefits such as up to a 2x APY boost in yield accounts and a number of utilities for copy traders.
Compete For Free Capital With Contests
The newly added PrimeXBT Contests lets users compete using risk-free virtual funds in weekly competitions for a chance to win crypto prizes. The simulated market environment also lets traders backtest trading strategies or practice before taking a position.
New competitions are added each week and are an ideal way to jump-start your career in trading without any starting capital. Contests offer prizes ranging from 1,000 USDT to as much as 100,000 USDT or exclusive NFTs. Certain conditions must be met in order to be eligible for the prize, so be sure to pay close attention to the requirements.
Traders can pick up the skills they need to compete, practice, and win consistently by taking a pit stop over at the PrimeXBT trading academy educational website. PrimeXBT trading academy is led by expert trader Dirk Hartig, who lends advice on how to navigate turbulent markets and make money at the same time.
Everything But The Kitchen Sink
What makes PrimeXBT unique is the fact that so much is packed under just one roof. Traders don’t need to go to dozens of platforms to manage positions across this many markets, nor do they need to have two screens open to perform technical analysis while taking positions. PrimeXBT does it all in one place through its award-winning account dashboard.
All of the most important products and services offered by the reliable and trustworthy trading platform are also available via the free smartphone app for Android and iOS devices. This means that managing positions across crypto, commodities, forex, or stock indices is possible while on the go, from anywhere in the world.
With so much to choose from and a track record of consistently having happy customers and winning traders,PrimeXBT is the perfect choice for any type of trader.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
