PrimeXBT, an award-winning crypto trading platform, takes the Forex Awards’ best crypto trading app trophy home this year. Widely known for its high-level leveraged trading with a wide range of crypto trading-related functions on its app, PrimeXBT continues to stand out from its competitors. Here’s everything you need to know about the best and award-winning trading app.
Crypto trading has become quite popular over the past few years. The rise of Web3 and NFTs has boosted the crypto market to new high levels, making it one of the most valuable industries around the world.
With the popularity of crypto, trading platforms have also emerged to facilitate investors and traders in building their portfolios via advanced tools and functions.
Crypto trading apps like Coinbase, Binance, or Kraken have been commonly used among various users to fulfill their trading needs. Among them, PrimeXBT emerges as a competitor giving advanced facilities that no other platforms offer, making it an award-winning trading app.
Forex Awards has given PrimeXBT an overall rating of 3 stars for giving the best trading services to its users. PrimeXBT now prides itself as one of the leading leveraged trading platforms in Web3.
What is PrimeXBT?
PrimeXBT is a crypto trading platform founded in 2018 and launched in 2019 that offers 100x leveraged trading that provides support to over 30+ assets including, cryptocurrencies, stock indices, commodities, and foreign traditional currencies from one, Bitcoin-based account.
It is basically an all-in-one solution platform for new and experienced traders to gain profit and build perfect portfolios.
PrimeXBT offers aggregated liquidity from multiple liquidity providers and trading analysis tools to users while maintaining its liquidity, security, and easy-to-navigate trading environment.
The PrimeXBT app is free on the Apple store and Android store, so users can easily download and explore the world of trading on the app.
PrimeXBT app is an easy-to-navigate platform for new traders and investors. To open an account is a very simple process with a very low minimum deposit amount. The app requires no experience and you can start trading as soon as you register and deposit money.
The Home section is filled with a detailed look at the user’s active wallet, available assets, and any active margin accounts. It also contains the exchange module facilitating users to swap cryptocurrency from one token to another.
If you click on any wallet, the app will load all the transaction history of that wallet in one go. Furthermore, you can also withdraw or deposit funds within the wallet on the app.
PrimeXBT has been making an effort to make its app more competent to meet its users’ needs. Seeing the security concerns raised by many traders regarding the security issues, the app’s recent update has added a cold storage process for every withdrawal within 24 hours to protect clients’ funds.
The app also offers other one-click options such as settings, 24/7 customer service support, trading history, transaction history, account profile view, and more.
PrimeXBT for beginners
PrimeXBT was given 4 stars for educational rating by Forex Awards for facilitating new users who have no experience with trading. By making the sign-up process easy and quick, PrimeXBT offers a wide range of tutorials and guides to its users.
There is a proper library of video tutorials on how to navigate through each section on the platform or app and also guides on how to use variously advanced tools and other functions within the platform. Users can also find videos on PrimeXBT’s official YouTube channel.
Furthermore, they also have a 24/7 customer service live chat available so traders can ask any questions they have regarding the platform anytime they want to.
PrimeXBT trading options for serious traders
Experienced and high-profile traders are always looking for a trading platform that can save time and provide advanced tools to make trading easier. PrimeXBT has made a good reputation among serious traders for providing quick and advanced level trading options that other apps lack.
Some of the trading options offered by the PrimeXBT trading app are:
PrimeXBT prides itself as a crypto trading app for leverage or margin trading. According to Forex Awards, PrimeXBT leverages with an overall ratio of 1:1000 with up to 500x leverage on forex currencies and 100x leverage on crypto assets. This aspect enables users to double their earnings substantially and profit even with low volatility.
The advanced tools are built to prevent loss and help traders profit in bull and bear markets through long and short positions. The platform tries its best to give users a low-risk rate, making it an ideal trading app for serious traders.
PrimeXBT’s covesting platform is made for traders to see other traders’ activity and learn from them to profit. Users can view any of the best-performing traders ranked by ROI from the list and see their whole trading activity, then allocate some funds for the method adopted, and follow trading.
For experienced traders, it is a great way to monetize one’s trading strategies. Since the covesting platform ranks by ROI, the more ROI you have, the higher you will be ranked. Based on current rankings, top managers have earned over 90,000 ROI, and 5,700 ROI in present bear market conditions.
In a way, traders can make side money by becoming a trading influencer through PrimeXBT.
The users can do Covesting on the Copy Trading section on the PrimeXBT app.
Wide range of assets
PrimeXBT doesn’t just allow crypto trading. In fact, it is an all-in-one place app where users can trade both in traditional and digital markets. As mentioned above, PrimeXBT offers a wide range of assets including cryptocurrencies, foreign currencies, and stock indices.
The biggest feature that makes it stand out for Forex Awards is the Bitcoin-based margin trading for the 18 largest forex currencies and 5 biggest cryptocurrencies with USD and BTC trading pairs.
Trading charts and tools
PrimeXBT trading app offers a separate Trade section just beside the Home section. This section contains 6 categories: Account, Markets, Chart, Positions, Orders, and History, widely used in trading.
The Account is where users can manage the margin trading for their wallets, the Market gives an overview of the current global market trends divided by asset class so that users can set a margin or profit from the market position. The Chart contains easy-to-navigate tools and technical analysis indicators that you can choose based on preferences.
The Positions give an insight into the market’s long and short positions. The users can also observe the open positions to modify their portfolios. The Order lists down all the limit orders in waiting so that traders can turn them into profit when the opportunity arises.
History is where you can view all your trading gains and losses in trades. The app offers a graphical presentation of their PnL to share on social media.
Margin account collateral
On the PrimeXBT trading app, there is a Deposit section on the same row as the Home section. Here users can deposit Margin account collateral using BTC, ETH, USDT, and USDC.
Additionally, the platform has its own Covesting ecosystem with its native utility token, COV. Users can top up using COV as well.
All these above-mentioned trading options are offered on one platform. PrimeXBT ensures that its users get maximum trading options and is always updating its features on the app to improve liquidity, security, and track volatility to prevent its users from a major loss in trading.
Why did Forex Awards pick the PrimeXBT app?
According to Forex Awards, the PrimeXBT app is the best crypto trading app of 2022.
After reading all the trading options and facilities it offers, there’s no doubt in saying PrimeXBT is the best trading app with almost every trading service that an experienced or beginner trader would need, all in just one app.
Compared to other trading apps, the PrimeXBT app is designed to help users navigate easily without any complications so even if you aren’t much educated on trading terms and strategies, you can still get a chance to become an expert with PrimeXBT.