Is PrimeXBT the Best Option for Crypto Margin Traders?

Traders are spoiled for choice in 2020 as the number of crypto trading platforms has increased from dozens to hundreds over the span of a few short years.

As with any kind of competition the customer always benefits, as platforms have to compete in order to provide new and better forms of value for the market.

And it hasn’t just been with crypto platforms in general, but specifically the cryptocurrency margin trading industry has exploded with a range of new platforms that offer varying features.

So taking this into account, is the world's leading cryptocurrency margin trading platform, PrimeXBT, the best option for crypto margin traders, and if so, why?

How Has Crypto Margin Trading Developed

Margin trading started out in the cryptocurrency space as an extremely niche sub-sector of the market, with a tiny fraction of all crypto traders using margin trading, and its influence on the market as a whole being minimal.

At the same time however, margin trading has been an integral part of traditional asset markets such as global stock markets and currency markets, and cryptocurrency users begin to see the discrepancy in the services that were available in the cryptocurrency space compared to elsewhere in the financial world.

What began as a small sector within the cryptocurrency market has today grown to become the way that a majority of trades are executed every day, with margin trading today being an integral and core part of the market.

What’s Different About PrimeXBT and Other Platforms

The growth of the largest crypto margin trading platform in the world, PrimeXBT, has been unprecedented throughout the history of cryptocurrency, and has led many to run analyses of exactly what it is that led to the exponential growth that this platform has seen.

For many years in the cryptocurrency space, all but one margin trading platform offered limited leverage of up to a maximum of 5X, and with jarring and outdated user interfaces and charting technologies being a consistent theme for these platforms.

The one platform that has been the long-standing leader in the crypto margin trading space and provided higher leverage, Bitmex, has suffered a huge number of scandals in the past 2 or 3 years that have led to a mass exodus of millions of cryptocurrency traders from the platform in the process.

Where others have failed, PrimeXBT has succeeded by providing higher quality tools and services, listening to the demands of the market, and creating multiple two-way communication channels with both it’s users and with the rest of the cryptocurrency market, encouraging dialogue and feedback, and building a reputation for being a trading platform that cares about the quality of its services.

PrimeXBT Voted Best Margin Trading Customer Service

One factor that has contributed significantly to the growth of PrimeXBT has been the positive reputation the platform has built for its interactions and communication with clientele and crypto users as a whole.

In 2019, PrimeXBT‘s commitment to excellence in their customer service was recognized during a study that compared the top 5 cryptocurrency margin trading platforms on metrics which were speed of response, politeness, helpfulness and the number of support channels available.

PrimeXBT outperformed all other platforms apart from one significantly, and still outperformed that platform as well by being the only one of all 5 trading platforms assessed to receive high schools in all metrics.

A Wide Range of Features, More Ways to Profit

While many of PrimeXBT’s competitors provide a limited range of features, there has been a continual string of releases of upgrades and new features on the world's number one crypto margin trading platform.

Whether it’s been the reduction of the minimum required size of trades on the platform, the introduction of a range of new asset classes from the traditional market, the release of iOS and Android apps, or partnerships with other major brands in the cryptocurrency industry, PrimeXBT’s users have been provided with almost monthly updates.

Most recently, PrimeXBT has launched its peer-to-peer investment funds platform, the Covesting module, which allows traders to partner with each other in order to socially trade, and to collectively increase the profit of the activities of all of those involved in a group.

4-Tier Referral Program Another Option

As well as providing a range of ways that traders can generate profit in the crypto markets themselves, PrimeXBT also has one of the leading referral programs in the industry.

Cryptocurrency enthusiasts can create revenue streams using PrimeXBT’s 4-tier referral program, and unlike most referral programs which only provide rewards for direct referrals, PrimeXBT’s program provides rewards for direct referrals, as well as indirect referrals from those referrals, for 4 levels deep.

As a result of the enhanced profitability of the revenue streams that are created using PrimeXBT’s referral program, the top 3 affiliates in 2019 generated more than $1 million in rewards.

Final Thoughts

While there have been a number of large cryptocurrency margin trading platforms in the market for years that have dominated, PrimeXBT has supplanted them as a result of providing advanced services and features suitable for today’s sophisticated cryptocurrency traders.

While other major crypto margin trading platforms have endured scandals and controversies and have seen the users cut to a fraction of what they were at their peak, PrimeXBT’s trade volume has increased exponentially over the past 3 years and looks to continue to do so for the foreseeable future.

For more information and details on the margin trading features available at PrimeXBT, check out this link.