PrimeXBT is an award-winning multi asset trading platform that has become among the hottest in the space since its inception.
Although the platform’s reputation often precedes itself or speaks for itself, we’re breaking down all the key reasons why the platform is synonymous with long and short positions on a variety of CFDs has earned a nod as one of the hottest around.
The Hottest Selection Of Trading Instruments Around
PrimeXBT was born during the crypto bear market and during that time earned itself a reputation for shorting Bitcoin and other of the altcoins listed. There would often be chatter about profits made and the amount of BTC stacked during the downtrend.
When the market began to move sideways prior to Black Thursday, PrimeXBT turned its efforts toward growing its lineup of CFDs on traditional assets, with a vision of creating a one stop shop for professionals and novices alike.
Forex trading pairs were added, first as majors, then minors and exotic trading pairs. Major stock indices were also added from each region, such as the S&P 500, DAX 30, FTSE, and several others.
Gold and silver were added as the safe haven narratives began to take hold across finance. Finally, contracts for Brent and Crude oil, and even natural gas were included for wider portfolio diversification.
With such variety across both digital and traditional assets, PrimeXBT traders were able to trade the stock market and gold’s new all-time highs, the Black Friday selloff, then trade crypto and stocks back to new all-time highs. With so many markets under one roof, there is no missing out on any opportunity.
The Hottest Trading Tools For Professionals And Novices
The next major evolution in the PrimeXBT timeline was when the platform became not only a Bitcoin-based trading platform, but an Ethereum trading platform also. In fact, the PrimeXBT V2.0 upgrade introduced multi asset support, bringing ETH, USDT, and USDC margin accounts to live alongside BTC.
BTC, ETH, and the ERC-20 versions of the two top stablecoins can all be used as account collateral for leverage on more than 50 different CFDs. Traders can profit from whichever direction the market turns using long and short positions. Both positions can be open at the same time for strategic hedge positions.
The support for ERC-20 tokens and the Ethereum blockchain also laid the groundwork for support for COV token staking, and recently COV token purchasing was made available through the PrimeXBT exchange tool located in the wallet section. But more on that later.
The flexibility of the platform, the positions, the assets and possible portfolio diversification is what draws so many different users to the platform and allows it to grow so rapidly.
Because users are spreading the word across each individual market community – crypto, forex, stocks, and more – the company’s reputation is far reaching, stretching across various industries.
Adding support for additional assets for margin further opened the floodgates as traders with different types of capital or trading styles can take advantage of the advanced trading tools.
The Hottest Innovations Anywhere In The Market
Since we touched on the COV token and the related staking feature, the next logical feature to highlight is the Covesting copy trading module. Currently, the Covesting copy trading module is exclusive to PrimeXBT as part of a whilte label agreement and ongoing partnership with a licensed software developer from Europe bearing the Covesting name.
The COV token is the native utility token to the Covesting ecosystem. Users can stake the COV token to unlock additional benefits within the Covesting copy trading module, and an up and coming Covesting Yield Account system.
The Covesting copy trading module connects followers with strategy managers. Strategy managers must impress followers with their total profits, adherence to risk management strategies and more.
Followers must choose from a massive list of strategy managers all ranked by profits. Current profits reach as much as 20,000% total profits at the time of this writing, and such stats aren’t uncommon for the number one trader on the platform.
With Covesting copy trading, followers can copy the trades of these experienced strategy managers, making money with less work overall. Strategy managers earn a cut of the action too, but get a profit share from their followers’ success fees. The house also takes fees, but this is just one of the ways that COV token staking can reduce the overall impact for traders.
COV token staking unlocks one of three account memberships, Advanced, Premium, and Elite. Strategy managers get a trading fee discount of 10%, 20%, and 30% respectively, while followers get more intricate benefits. Followers eliminate any initial follower entry fees, improve the profit share in their favor, and increase follower limits.
COV token staking will also unlock up to a 2x APY boost when Covesting Yield Accounts launch later this year. What fees that do go to the house, may ultimately get burned thanks to the Covesting team’s sound tokenimics integrated into the COV token.
A portion of COV tokens are burned systematically, with a million tokens burned approaching. With a supply already lower than Bitcoin’s that is constantly decreasing, there is an interesting value proposition for token holders of all kinds.
Covesting Yield Accounts are also another reason that has the market buzzing about PrimeXBT. When the tool arrives later this year, it will connect top DeFi protocols with the account dashboard for the easiest access to up to 30% APY through an innovative yield-generating tool.
Users will be able to stake idle crypto assets stored in a secure crypto wallet and earn the highest variable rates around.
The Hottest Around Keeps Getting Hotter
With a free mobile app, extensive social media interaction through official channels, a company blog with tips, a four-level program, and so many other factors, the list could go on and on.
This many features jam packed under one roof is the real reason that PrimeXBT has become the hottest platform around, and with new innovations always popping up and more coming soon, the award-winning trading platform could stay hot for a long while to come.