Online trading platforms have always been a part of our lives. In fact, during the global confinement due to the COVID-19 pandemic, they have been alternatives to generate income from home. That is why it should not surprise us that they are constantly evolving and adopting new technologies such as cryptocurrencies. Today we are going to talk about the only Bitcoin-based margin trading platform that offers instant access to more than 50 assets – PrimeXBT .
PrimeXBT is a trading platform that allows experienced users to trade at the highest level, as well as beginners to invest in professional traders through its copy-trading module Covesting. Within the platform, more than 50 assets can be traded between digital assets such as cryptocurrencies, as well as traditional ones since it has a wide range of financial assets from around the world, from Forex, to indices, through raw materials.
When we talk about essentially online services, the first thing to check is that we are dealing with a registered company with all the corresponding licenses. In the case of PrimeXBT we are dealing with a consortium of companies registered in various jurisdictions such as Australia, the Republic of Seychelles and Saint Vincent & the Grenadines. Strategic regions that favor end users to obtain the best market conditions.
So that its transparency is never questioned, its website has a whole section with the company’s legal conditions, to be analyzed by the investor whenever they want.
We are facing a trading platform… What can we operate on? The answer is broad, but it can be summed up as: the most important assets on the planet!
Perhaps this is what we are most used to from our experience in the world of crypto. Here you can trade with the main digital currencies.
For those who do not know, Forex means Foreign Exchange. In other words, here we are trading with the main world currencies.
And many more.
It is the name given to the main raw materials in the world, which of course can be traded and are listed on world markets.
Here we can trade with the benchmark indices of the main world stock exchanges. (An index is a weighted aggregate of the main stocks in that corresponding market).
Of course, more assets will be incorporated in the future, but in its commitment to quality and transparency, PrimeXBT only trades with the assets with the highest volume and liquidity in the world, as a guarantee that no manipulations or arbitrations harmful to the client take place. .
By having a wide range of financial instruments to operate with leverage, the opportunities to generate profits increase exponentially.
When an investor conducts an analysis, and his conclusion is that the market will go down, he can sit still, waiting for the dips to buy at attractive prices, or he can take advantage and invest in the downturn period as well. This multiplies the time in which we can operate, since we can earn money when the asset goes up and when the asset goes down.
How do you get it? Example if someone lends you their assets, you sell them on the market, you wait for it to go down, and when the price is low, you buy it back at a lower price. As you sold high and bought cheap, you keep the difference money, and return the asset to its owner. The principle is the same as always: buy low and sell high, only the order in which the actions are carried out changes, here you sell first and buy back later.
Leverage is something like getting a loan that is only valid for investing in a certain asset. For practical purposes it is achieved that we have more investment “power” than using only our money. For example, with x100 leverage, we would be investing $ 1,000 as if it were $ 100,000. That makes a small increase of 2% for us a gain of 200%. Of course, you have to be very careful when analyzing the instrument and managing the risk, as not only the gains can be multiplied, but also the losses.
PrimeXBT is not only a platform to do trading operations. It is a very powerful source of information and a provider of solutions to market demand thanks to its copy trading Covesting module. In the educational field, they have extensive explanations about the concepts we are dealing with, such as leverage, short operations and so on. But above all, it has the most advanced chart generation systems so that operators can have more information and thus help them make better decisions since each chart can be analyzed to exhaustion with hundreds of indicators and chart figures.
As can be expected on a platform of its level, PrimeXBT is at the forefront in security and puts all the necessary measures so that we are calm. They protect their platform with SSL, Cloudfare, encrypt passwords, do periodic security audits, etc. Being a Bitcoin-based platform, they store most of the cryptocurrencies in cold wallets and have address whitelists to prevent malicious activities and avoid withdrawals to wrong addresses.
The servers are hosted on Amazon Web AWS, with all the security and reliability guarantees that this entails.
But they do not only intend to provide the best products on the market and a high quality service for users. If not all the desire to support local crypto projects in Latin America.
PrimeXBT collaborates with innovative quality projects that help the development and growth of the Latin American economies. A not too distant example is the alliance established between PrimeXBT and the Colombian BeerMoney, which developed a token backed by craft beer. It is to be expected that new alliances will be released in the coming months.
Quoting the Vice President of Operations for LatAm:
“Cryptocurrencies are gaining popularity around the world, with special force in Latin America. PrimeXBT, along with select partners like BeerMoney, aim to be at the forefront in supporting the next great innovation. And if we help by supporting a local Latin American project, then the profit is double “Ivan Marchena
Definitely yes. There are several ways to earn income with this platform and not necessarily by investing, since PrimeXBT offers you an affiliate system through which you can generate profits by simply sharing information about your products and services.
And if the desire to trade is great, but you do not have the necessary knowledge, then the Covesting copy-trading module is the solution. Which is neither more nor less than following the professionals and copying their profitability, in exchange for a part of the profits generated… Everyone wins!
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