Competing in the world of cryptocurrency exchanges and trading platforms is no easy task. PrimeBit is a very different service provider compared to regular platforms. It is fully peer-to-peer, and offers some features that one won’t find anywhere else.
An Introduction to PrimeBit
Trading cryptocurrencies often done through centralized exchanges, trading platforms, and brokers. The degree of convenience provided by those service operators comes with several downsides. Centralized platforms require users to trust third parties, and the end user has no direct control over the funds at any given time.
PrimeBit operates on a very different level. It is considered to be a more fair way of trading cryptocurrencies. In fact, the service relies on exchanging cryptocurrency contracts, which introduces some crucial benefits. There is no middleman to trust, as users exchange value in a peer-to-peer manner. This is very different from other platforms, as it empowers the end user, regardless of whether they want to buy or sell.
Plenty of Powerful Features
Trading cryptocurrency contracts allows for tapping into new revenue streams. PrimeBit gives its users all of the necessary tools and options to maximize their revenue at any given moment. Catering to risk-averse traders and users with a healthy appetite for risks is one of the main aspects that sets this platform apart from other exchanges.
PrimeBit offers many core features that make it very intriguing. Most of these options have to do with the placing of orders and the duration of contracts. Since this is not the trading of cryptocurrencies directly, such aspects should never be overlooked by any means.
First of all, PrimeBit contracts have no expiry dates. That means that any cryptocurrency contract bought or sold through the platform will live on forever. For those who expect the market to rise in value significantly, holding on to the contract for an extended period of time is a worthwhile option to explore.
Secondly, PrimeBit prides itself on being fully transparent. This applies as much to market depth as it does to the price model and overall platform fees. Speaking of fees, Priembit maintains low fees, allowing clients to generate even more profit from successful trades. The potential for profit is virtually unlimited.
Perhaps the most intriguing feature is the unprecedented leverage traders can attain. Any contract can be traded at 200 leverage. As such, the total value of the contract is 200 times higher than one’s actual balance. The associated profits – or losses – will also be 200 times higher.
Speaking of potential losses, PrimeBit offers the tools to protect user liquidity as much as possible. Making the most of the stop loss and stop-out order types if crucial when trading with leverage. It is crucial for traders to set stops accordingly to prevent any form of liquidation.
Last but not least, the contracts themselves. Every contract – BTCUSD, ETHUSD, LTCUSD, or their USDT variants – is priced fairly and in a transparent manner. Information regarding individual contracts and how the price is calculated can be found on this page. It is very easy to understand everything, both in terms of going “long” or “short” for any of these assets.
It is also worth noting that unrealized profits can be used to open new orders on the platform. Most platforms won’t allow their traders to do so unless they effectively realize their profits. It provides an extra option for advanced traders, although newcomers may want to take note of this option as well.
User Interface and Mobile Support
PrimeBit makes use of the WebTrader interface. Not only is this a great experience for desktop users, it also translates nicely to mobile devices. Being able to place orders regardless of one’s device is crucial to maintain a profitable portfolio. Mobile users may also opt for the mobile application, should they prefer that option.
Enhancing the experience can be achieved through the integrated MetaTrader 5. This “golden standard” among traders across different industries unlocks many new opportunities. With over 40 languages supported, as well as mobile availability, this integration allows for a high degree of interface customization.
Users willing to explore the PrimeBit platform can deposit funds in two ways. Either they deposit Bitcoin, or Tether’s USDT. Both options will grant access to the contracts of their choosing. Funds can be withdrawn in a similar manner as well.
PrimeBit has experienced major growth in a short span of time. Most of that growth can be attributed to the core features provided by this peer-to-peer trading platform. It offers many benefits that one won’t find anywhere else.
There is also a rewarding affiliate program. Affiliates can earn up to 20% of taker fee revenue from their referred users. For the referred user, there is a 10% discount on taker fees to benefit from during the first six months. Earning nearly 50% more affiliate revenue compared to other platforms is another great reason to check out PrimeBit.