Tutorial PrimeXBT, How to use PrimeXBT? Beginners guide

­­The PrimeXBT trading platform was introduced in 2018. It enables users to benefit from the possibility of trading Bitcoin and some of the other significant cryptocurrencies by leveraging. Moreover, there’s also the PrimeXBT Forex trading, not to mention that you can also trade indices and commodities on this site.

PrimeXBT has swiftly become a key participant in the margin trading sector, competing with titans like BitMex.

The exchange intends to address issues common on some other platforms, such as lengthy KYC approval procedures, unanticipated downtime, low liquidity, issues with trading on failed markets, restricted order types, expensive trading fees, and poor user experiences.

However, if you want to stick with the product for a long time, you can verify your identity to ensure better property rights, you can see the article “How to verify Primexbt Account

PrimeXBT Leverage Trading

PrimeXBT trading provides incredible leverage, an interface that’s very user-friendly, and enormous liquidity and trade volumes. If you want to know how to trade on PrimeXBT, keep on reading.

Expert traders often seek for leverage, but as far as cryptocurrency trading goes, many platforms provide very little in the way of leverage. However, the Primexbt trading platform offers a leverage of up to 1:200 for both BTC and ETH, and up to 1:100 for altcoins and commodities and indices. Forex pairs have a leverage of up to 1:1000.

primexbt max leverage forex

This implies that you could acquire or sell $100 worth of goods for every $1 when trading at 1:100 leverage. In essence, you are offered almost unlimited access to larger market positions, allowing you to generate even higher profit but also losses.

Leverage is amongst the primary and vital characteristics of the PrimeXBT trading platform. On the PrimeXBT trading website, you are also provided with a thorough explanation on what leverage is so that you fully understand the notion. Let’s take BTC/USD as an example.

If each Bitcoin costs $10,000 and that throughout your investment, its price increases by 5%, with no leverage on a conventional exchange, you could purchase 10 BTC for the $100,000 money amount.

Your BTC would then be $10,500 apiece if its price increased by 5%. This means that if you got to sell them, you would have made $5,000 with an investment of $100,000.

By comparison, if you made the identical transaction on PrimeXBT with the 1:100 leverage, the spending would need to be only $1,000 in the beginning and 1% of the $100,000 stake.

primexbt leverage example

This indicates that under the identical circumstances, you would have invested just $1,000 and still made $5,000. In other words, beginning with he same amount of cash, you may greatly double your earnings.

  • The opportunity to increase earnings, gearing possibilities (the capacity to free up funds you may utilize for a different investment), and your chance to profit from market falls are some of the benefits of leverage trading on PrimeXBT.
  • The PrimeXBT trading platform allows you to easily calculate your purchasing power depending on available capital by using a handy leverage calculator.
  • Just bear in mind that although utilizing leverage expands your money potential reach while boosting your chance of profiting, it also expands your chance of suffering losses.

As a result, you should exercise caution whenever you use the highest level of leverage provided by PrimeXBT. Leverage is a very helpful tool for traders who have expertise and trust in their strategies.

How does the PrimeXBT Platform looks like and How to Use It?

Before opening a PrimeXBT account, you need to understand that the “Positions” area at the bottom of your screen is the only place where there is a difference. A list with positions for columns such as symbol, time and date, position ID, P/L, and others would be visible if you had a live account.

This part is obscured because in preview, you don’t have an account, and you may log in or register above it. See this post to know how to sign up on primexbt

The PrimeXBT trading site is precisely what you would anticipate overall since it resembles the trading pages seasoned investors are used to. A cryptocurrency pairings list may be seen at the screen’s top left position.

primexbt trading chart

  • BTC/USD, LTC/USD, EOS/USD, XRP/USD, and ETH/USD are a few examples. You may check the ask and bid price, or you can look for change. Such figures have either the white, red, or green color scheme. As it would be predicted, green denotes a rise and red, a decline.
  • Any of the pairings shown here may be click to take you to a page where you can purchase or sell the relevant cryptocurrency. It will show the purchasing and selling prices, but also the pair’s low and high prices.
  • The Order is located below this area and on the left side of the screen. SELL and BUY are separated in the corner of the chart is very convenient to enter orders. The inclusion of graphs in green and in red in the backdrop of the Order, added to the description of the amounts and pricing, is a wonderful touch. You can quickly see trends this way.
  • The real chart, which occupies most of the trading page and is located immediately to the cryptocurrency listings and the Order’s left side. This is the Prime XBT website’s primary component. The trade pair it represents is shown in the chart’s upper-left corner.

To change this, either click on the box where it is mentioned and type in the new pair (you will get autofill choices) or click on the left side pair with the cryptocurrency listings.

How to Use PrimeXBT Trading Charts?

The trading chart’s default option on the PrimeXBT trading platform is a candlestick chart that features pricing on vertical and time on horizontal, being color-coded in green and in red. Any candlestick chart may be highlighted to display the time, date, open, low, high, close, or value.

By altering the graph for time just underneath your PrimeXBT trading main chart, you may change the shown time range. Most settings are located at the chart’s upper area.

You may modify the candlesticks intervals using a special drop-down menu. The default should be 5 minutes, but you may also choose 1 or 15, and even 30. You can also set the time for 1, 2, or perhaps 4 hours too, but also for a day; a week; or a month. The option to change the candlestick chart and turn it into a line bar graph is at the left.

indicator tools primexbt trading chart

You may choose from a variety of crosshair settings. Additionally, you may choose short or long, as well as a lot of different indicators, tools, and lines to add. These include, among other things, the trend line, a trend channel, bollinger bands or Fibonacci Rays.

The Studies area, which may be accessed by clicking on the left side test tube’s icon and at the right side of choices just mentioned, is of interest to more advanced traders. You may upload your own research or choose from the several dozen that are already available. If you want to trade, you should read this article “How to Trade with PrimeXBT Platform

On the PrimeXBT trading platform, you may trade using one of 2 techniques. To fill out the box that displays, click on the pair that appears on the left. Alternately, you may utilize the section in the chart’s upper left corner, just below the pair’s name.

 

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