Ethereum

Cryptocurrency

Covesting

GOLD

Note

<p>Cryptocurrency is one of the hottest asset classes in the world right now – the market is expanding and innovation is frequent. The number of trading services has increased over the years and many, especially beginners, might find it hard to decide whom to do business with. That’s why we reviewed a leading trading service – PrimeXBT – so that you, irrespective of your experience level, can determine whether this service is for you. Read on to learn in-depth about PrimeXBT, about its services, fees, unique aspects, advantages, disadvantages, and more.</p>
<h2 class="wp-block-heading" id="strong-is-primexbt-a-registered-company-strong"><strong>Is PrimeXBT a Registered Company?</strong></h2>
<p><a href="https://www.thecoinrepublic.com/2022/12/21/primexbt-secure-affordable-and-reliable-crypto-exchange-for-beginners-and-professionals/" rel="noopener noreferrer nofollow">PrimeXBT </a>is a legally tight company. Don’t take our word on this one if you don’t want to, you can check their website, where they have displayed all registration-related information, including license details, and jurisdiction among other information. Per their website, Prime Technologies Ltd., the company that owns PrimeXBT is registered in the Republic of Seychelles.</p>
<p>The service boasts users in over 150 countries. Due to regulatory conditions, clients in many countries including the United States of America, France, Russian Federation, France and some other countries are not served by PrimeXBT.</p>
<h3 class="wp-block-heading" id="strong-trading-services-strong"><strong>Trading Services</strong></h3>
<p>PrimeXBT’s services include contract-for-difference (CFD) trading, copy-trading, buying crypto, and trading on margin. Copy trading is a special feature about which we’ll talk about later.</p>
<p>CFD trading allows you to make money via margin trading. This means that you can benefit from the price movement of the cryptos – you can hold the crypto till its value goes up and then sell it, booking profits.</p>
<h3 class="wp-block-heading" id="strong-important-note-strong"><strong>Important Note</strong></h3>
<p>Please note that PrimeXBT is not a forex broker despite providing users the opportunity to benefit from the forex market. This is also one of the special things about this trading service, it gives users exposure to high-value markets without the hassle that comes with engaging in these markets in the traditional way.</p>
<h3 class="wp-block-heading" id="strong-copy-trading-aka-covesting-strong"><strong>Copy Trading AKA Covesting</strong></h3>
<p>PrmieXBT has multiple trading features that fit the profile of any leading crypto trading service, but one feature that we believe is a game-changer is Copy-trading or Covesting. Covesting is the brand or official name of this unique feature. Here’s what it is and why we think it’s super cool:</p>
<p>Copy trading or Covesting is the act of copying someone else’s trading strategy. This means that you can trade exactly the way seasoned traders trade. <a href="https://www.thecoinrepublic.com/2024/06/23/top-platforms-to-purchase-telegram-games-cryptocurrency-notcoin/" rel="noopener noreferrer nofollow">Cryptocurrency </a>is an overwhelming asset class, perhaps more than stocks and other traditional assets. Beginners find it hard to identify assets that are suitable for them due to a lack of experience. Following experts and veterans is a great way to not only make money straight away, but also to learn about the assets.</p>
<p><strong>Here are the steps to covest on PrimeXBT:</strong></p>
<ol>
 <li>Register a new account;</li>
 <li>Deal with account settings to make it more customized;</li>
 <li>Weed out poor strategies;</li>
 <li>Study the remaining ones.</li>
 <li>Click the “Follow” button.</li>
</ol>
<p>Covesting is a highly customizable module of this exchange. With an entry fee of 1% and a deposit of 0.001 BTC, you can enter this special module.</p>
<p>Note that Covesting PrimeXBT is registered under the juridiction of the Gibraltar Financial Services Commission as a digital provider of distributed ledger services. That is, it’s not only an arm of the exchange, it’s a dedicated and registered service.</p>
<h3 class="wp-block-heading" id="strong-deposits-and-withdrawals-strong"><strong>Deposits and Withdrawals</strong></h3>
<p>One of our primary parameters to evaluate exchanges is the deposits and withdrawals facilities. These are super basic features of any exchange. Deposits and withdrawals should be simple, hassle-free, transparent and reasonably priced.</p>
<p>PrimeXBT scores well in terms of security. Note that a minimum account balance of 0.001 BTC will have to be maintained for conducting operations.</p>
<p>One issue with the exchange is that the methods to deposit funds are limited. Deposits can be made only via Bitcoin (BTC), Ethereum (ETH), Tether (USDT) &amp; USD Coin (USDC). Also, the deposits can be made either to your PrimeXBT wallet or the CFD Trading or Crypto Futures trading accounts.</p>
<p>An exciting feature available as we write this review is the welcome bonus. This could well be a temporary offer. A bonus of $100 is available as a welcome bonus upon a minimum deposit of $500 into your CFD and Forex accounts on the exchange. You will have to register on PrimeXBT to avail this offer.</p>
<p>Regarding withdrawals, it’s a straightforward affair on this exchange. The process is simple, there’s no minimum amount and there’s no restriction. However, withdrawals can only be made between 12 pm and 2 pm.</p>
<h3 class="wp-block-heading" id="strong-primexbt-fees-strong"><strong>PrimeXBT Fees</strong></h3>
<p>Asset Market Commission</p>
<p>BTC/USD Crypto 0.05%</p>
<p>ETH/USD Crypto 0.05%</p>
<p>EUR/GBP Forex 0.0001%</p>
<p>EUR/USD Forex 0.0001%</p>
<p>USD/JPY Forex 0.0001%</p>
<p>NASDAQ Index 0.0001%</p>
<p>EUR50 Index 0.0001%</p>
<p>CRUDE Commodity 0.0001%</p>
<p>NAT.GAS Commodity 0.0001%</p>
<p>GOLD Commodity 0.0001%</p>
<h3 class="wp-block-heading" id="strong-summary-of-pros-cons-strong"><strong>Summary of Pros &amp; Cons</strong></h3>
<p><strong>Here’s a tl;dr version of the article:</strong></p>
<figure class="wp-block-table aligncenter">
 <table>
  <tbody>
   <tr>
    <td>Pros</td>
    <td>Cons</td>
   </tr>
   <tr>
    <td>Customizable trading software</td>
    <td>Shortage of methods to replenish your accounts</td>
   </tr>
   <tr>
    <td>Easy to navigate the platform</td>
    <td>Restricted timeframe to claim the withdrawal</td>
   </tr>
   <tr>
    <td>Both market and limit orders are available</td>
    <td>High leverage is risky</td>
   </tr>
   <tr>
    <td>High leverage</td>
    <td></td>
   </tr>
   <tr>
    <td>Access to multiple markets beyond crypto</td>
    <td></td>
   </tr>
   <tr>
    <td>Rich trading academy</td>
    <td></td>
   </tr>
   <tr>
    <td>Lucrative bonus for the first deposit</td>
    <td></td>
   </tr>
  </tbody>
 </table>
</figure>
<h4 class="wp-block-heading"><strong>Final Thoughts</strong></h4>
<p>PrimeXBT is a savvy exchange offering services both beginners and pros can rely on. Our favorite feature is covesting. We feel that covesting is a fantastic opportunity for those new to this highly volatile market. Via covesting, beginners can rely on the experience of others to profit from a market that promises high rewards (and risks).</p>
<p>Other features on PrimeXBT, including CFD trading, Futures trading, buying and selling cryptos, and even holding cryptos are noteworthy. While the methods to deposit funds on this exchange are limited, that shouldn’t be a major problem for most investors.</p>

PrimeXBT: A One Stop Trading Exchange For Beginner and Pros Alike

Table of Contents

Thecoinrepublic.com

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