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PrimeXBT crypto futures: A comprehensive review 2023

The continuously evolving crypto market has given rise to numerous platforms for buying, selling, and trading digital assets. PrimeXBT, established in 2018, has seen considerable growth in popularity due to its extensive selection of financial instruments. 

With PrimeXBT rolling out its new crypto futures product, let's once again explore PrimeXBT in 2023 in-depth, taking you through the process from registration to making a trade.

Getting started with PrimeXBT

To get started with PrimeXBT crypto futures platform, you'll first need to visit their official website. Here, you'll find a user-friendly layout with plenty of information about the services they offer. Click the "Register" button located on the top right corner of the homepage to open your account. You'll need to provide your email address and create a strong password. Make sure to agree to the terms and conditions before clicking "Register."

After registration, it's advisable to activate two-factor authentication (2FA) for additional account security. You can find this in the account settings. A prompt to confirm your email will follow, and once that's done, you're all set to start using PrimeXBT.

Depositing funds

After successful registration, the next step is depositing funds. Click on the "Deposit" button on the dashboard. PrimeXBT allows you to deposit in multiple cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and others. You can also deposit fiat currencies such as USD and EUR through credit or debit cards.

Choose your preferred method, then follow the prompts to complete the deposit process. Remember to consider the blockchain transaction fees and the time it takes for the deposit to reflect in your account.

Exploring the PrimeXBT dashboard 

PrimeXBT offers an intuitive and user-friendly dashboard, complete with customizable interfaces, advanced charting tools, an order book, and a range of order types. The platform enables you to set up and customize your trading workspace according to your preferences. Traders can access a variety of charts, indicators, and tools to analyze price action and really make it their own.

Choosing cryptocurrencies

PrimeXBT offers a broad selection of cryptocurrencies for futures trading, from major ones like Bitcoin, Ethereum, and Litecoin, to a variety of altcoins. You can explore the available pairs and select the ones you want to trade, which include:

• Cardano (ADA)
• Algorand (ALGO)
• Cosmos (ATOM)
• Avalanche (AVAX)
• Axie Infinity (AXS)
• Binance Coin (BNB)
• Dogecoin (DOGE)
• Polkadot (DOT)
• Elrond (EGLD)
• EOS (EOS)
• Filecoin (FIL)
• Fantom (FTM)
• Helium (HNT)
• Internet Computer (ICP)
• Klaytn (KLAY)
• Chainlink (LINK)
• Decentraland (MANA)
• Polygon (MATIC)
• NEAR Protocol (NEAR)
• The Sandbox (SAND)
• Shiba Inu (SHIB)
• Solana (SOL)
• Theta (THETA)
• Tron (TRX)
• Uniswap (UNI)
• VeChain (VET)
• Stellar (XLM)
• Monero (XMR)
• Ripple (XRP)
• Tezos (XTZ)

Trading crypto futures on PrimeXBT

Once your funds are ready and you've selected your desired crypto pairs, you can start trading. You can place market, limit, and stop orders, and the platform provides the option to add stop-loss and take-profit orders for greater control. PrimeXBT’s sliding leverage system allows traders to adjust the level of leverage they wish to use, up to a maximum of 200x for cryptocurrency futures. 

This is particularly useful as it provides traders with a high degree of flexibility and control over their risk exposure. Traders can set higher leverage for lower-value trades and reduce the leverage for higher-value trades, thereby managing their overall risk. However, while the use of leverage can significantly increase your potential gains, it's important to note that it can also amplify losses. Higher leverage involves higher risk, as even a small adverse market movement can lead to substantial losses.

CFDs

Contract for Difference, popularly known as CFDs, is another trading instrument offered by PrimeXBT that has gained substantial interest. CFDs allow you to speculate on the rise and fall of fast-moving global financial markets, or instruments such as indices, commodities, and currencies. 

Forex currency trading pairs include:

• AUD/CAD
• AUD/CHF
• AUD/JPY
• AUD/NZD
• AUD/USD
• CAD/CHF
• CAD/JPY
• CHF/JPY
• EUR/AUD
• EUR/CAD
• EUR/CHF
• EUR/GBP
• EUR/HKD
• EUR/JPY
• EUR/MXN
• EUR/NZD
• EUR/SGD
• EUR/TRY
• EUR/USD
• EUR/ZAR
• GBP/AUD
• GBP/CAD
• GBP/CHF
• GBP/HKD
• GBP/JPY
• GBP/MXN
• GBP/NZD
• GBP/SGD
• GBP/TRY
• GBP/USD
• GBP/ZAR
• NZD/CAD
• NZD/CHF
• NZD/JPY
• NZD/SGD
• NZD/USD
• USD/CAD
• USD/CHF
• USD/CNH
• USD/JPY
• USD/MXN
• USD/SGD
• USD/THB
• USD/TRY
• USD/ZAR

Commodities include: 

• XAG/USD
• XAU/USD
• BRENT
• CRUDE
• NAT.GAS
• COPPER
• LEAD
• NICKEL
• ALUMINUM
• ZINC

Indices include:

• DOWJ
• EUR50
• FRANCE
• GER30
• SP500
• SPAIN
• NASDAQ
• HK-HSI
• AUS200
• JAPAN225
• UK100

PrimeXBT continues to expand its CFD offering over time. In 2023, it introduced trading for base metals, including Copper, Nickel, and Aluminum, further widening the opportunities for traders. These base metals often act as indicators of global economic health and can be an essential part of a diversified trading portfolio.

PrimeXBT's unique features

PrimeXBT offers several unique features like copy trading, where you can follow and replicate the trades of top performers on the platform. This can be especially beneficial for beginners. Additionally, the platform hosts weekly trading competitions, allowing traders to pit their skills against each other for prizes. The Trading Academy is also a valuable resource, providing extensive educational material for traders at all levels.

Support and security

PrimeXBT takes the security of its users seriously, employing robust measures such as cold storage for user funds, 2FA, and encrypted data storage. For any inquiries or support, PrimeXBT offers 24/7 live chat and email support, as well as an extensive knowledge base.

PrimeXBT mobile app

To cater to the growing number of traders who prefer to trade on the go, PrimeXBT also offers a well-designed and user-friendly mobile application. Available on both iOS and Android platforms, the mobile app provides a seamless trading experience that matches the full functionality of the desktop version.

From the ease of registration to executing trades, all the features are meticulously streamlined in the mobile app. In addition to trading tools, the app also provides real-time market data and allows users to monitor their open positions, check account balance, deposit and withdraw funds - all with just a few taps. 

Summary

PrimeXBT is an attractive choice for those interested in cryptocurrency futures trading. With a user-friendly interface, a wide range of trading pairs, and unique features like copy trading and competitions, it caters to traders of all experience levels. As with all trading, remember to do your due diligence and trade responsibly.

For those on the fence about joining PrimeXBT, the platform offers a welcome bonus that might tip the scales. As a new user, once you've completed your registration, you're eligible for a welcome bonus of up to a $100 bonus after a $500 deposit during the first 48 hours after registration. 

This bonus can provide a significant boost to your starting trading capital and offer you more flexibility in managing your trades. Keep in mind, though, that terms and conditions apply. The bonus is not instantly withdrawable and needs to be used for trading on the platform.