August 9, 2020

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Over the past 2 years, more than 220 different trading platforms and cryptocurrency have appeared on the cryptocurrency market exchanges, 90% of which are hardly worthysites. Most often, exchanges were created as a notorious scam in order to collect customer funds and close the exchange or to “pump” ICO tokens with junk. A huge number of exchanges does not have liquidity at all, the volume of trade does not exceed $ 100,000 per day.

Despite such a huge number of fraudulent sites, cryptocurrency trading is only gaining popularity, while traders are already more cautious in choosing a cryptocurrency exchange.

Today we will compare Prime XBT, the sensational at the beginning of 2019, innovative cryptocurrency trading platform and one of the first trading platforms - BitMEX.

registration

Registration on both platforms does not requireprocedures for verifying the identity, at the same time, it is not entirely clear why BitMEX displays the region, where the registration comes from, and why it offers to enter the name and surname if there is no need for it.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Registration on both platforms is fast enough. You need to do basic actions (enter your username and password and confirm registration), and you are registered.

After confirming registration on BitMEX, youredirects to the trading page. It is worth noting that an unprepared person, a beginner in trading, can push away the abundance of blocks in the BitMEX trading terminal. Together with the lack of design, it looks too sophisticated, difficult and unlikely for novice traders.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Yes, of course, having overcome banal laziness, a beginner will be able to read a couple of guides and understand trading on BitMEX, but the first impression always plays a significant role in choosing a platform.

After registering for Prime XBT, you are thrownto the page of your personal account, in which you can quickly and easily navigate. The process of getting acquainted with the site begins gradually and in stages. Everything is intuitive here, no extra buttons and blocks stuffed with each other. Unlike BitMEX, the Prime XBT interface looks very friendly and straightforward.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Balance replenishment

You can top up your balance on Prime XBT directly atbitcoins, or with conversion to bitcoin more than 130 cryptocurrencies, dollars and euros through an integrated partner Changelly. On BitMEX, replenishment is possible only in bitcoins.

The minimum deposit on BitMEX is 0.001 BTC, on Prime XBT - without limits. At both sites, each user is provided with a personal BTC address that needs to be replenished. Also, at both sites, customer funds are stored in cold wallets, which protects them from potential theft by intruders.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Withdraw funds</strong>

When withdrawing funds, BitMEX and Prime XBT havesimilarities, but there are also significant differences. With both sites, withdrawal is possible only in bitcoins without restrictions. The conclusion is made manually, by the economic department and once a day, which helps to avoid various hacker attacks and theft of funds.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

At Prime XBT on security issuesCustomers approached more seriously. It is impossible to withdraw funds to the specified BTC address if it is not in the White List (Whitelist procedure). What is this procedure?

Before you withdraw funds, you need toadd a BTC address and confirm it via the email to which you registered on the platform. To do this, you need to click “Add new address”.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

In the pop-up window, specify the name of the address and specify the address itself. After which it remains to go through two-factor authentication and confirm the addition of a new address via e-mail.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

What is this procedure done for? So that in the case of an intruder entering your account, he could not easily withdraw funds simply by entering his BTC address. To do this, you need to add an address to Whitelist, so that it becomes possible, it will have to hack your email and somehow intercept the pin code from Google Authenticator. In another way, it is impossible to steal funds from your balance.

Trading terminal

The only similarities between BitMEX terminals andPrime XBT are stretchable blocks. You can open or close the blocks of interest to you, stretch them or squeeze. In a word - to optimize the workspace. This is where the similarities end and significant differences begin.

BitMEX has a very “aggressive” terminal, where it doesn’tit’s immediately clear how to open deals, why there are so many blocks, why such a small chart, where to put widgets that are needed, but do not fit into the screen. If a professional or an experienced trader understands this without any problems, then a beginner will most likely run away without having understood how to figure it out.

BitMEX uses the chart of the TradingView trading platform, and liquidity is represented by only 1 supplier.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Prime XBT uses a trading terminalown development. Liquidity on the platform is represented by 12 suppliers, which provides instant execution at the best price, without brakes and slippage.

The terminal is intuitive. To open a deal, you can click on a trading pair from the list, the “Buy” and “Sell” buttons will appear, or you can click on the corresponding buttons directly on the chart itself.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Next, a popup window will appear where you canchoose the type of order, market or limit, adjust the volume of the transaction, specify Stop Loss and Take Profit. In the end, it remains to click Send Order and the transaction will be open.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

If you do not have enough of one working window, youcan create a new one. Just click the “+” button next to the existing window, name the new window and insert the necessary widgets there. Moreover, the Prime XBT trading terminal supports multiple monitors.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

On Prime XBT and bitmex, traders canmake money not only in a growing, but also in a falling market, hedge risks by opening opposite positions for one trading pair at a time. This is a significant advantage for traders, as it provides flexible trading and maximum profitability.

Trading Commissions

Trading Commissions, below on Prime XBT. There they are unchanged and always make up 0.05% for all trading pairs, regardless of whether it is a market order or a limit one.

Prime XBT and BitMEX: the battle of the year for the title of the best trading platform

Trading commission on BitMEX with a limited execution is less, more precisely, in BitMex you are paid extra for limits. Market orders - will cost 0.075 Prime XBT and BitMEX: the battle of the year for the title of the best trading platform


Total:

BitMEX and Prime XBT are direct competitors, they have a lot in common, but take a closer look and it becomes clear that Prime XBT is a more innovative, convenient and secure platform.

When developing a trading terminal, in Prime XBTThey tried to create a workspace that would meet the needs of professionals and at the same time would be intuitive for beginners in trading, which would allow them to quickly learn and earn money.

Moreover, Prime XBT has a qualified support service that answers customer questions 24 hours a day, 7 days a week.

Mobile applications for devices based on iOS and Android operating systems become a cherry on the cake, allowing traders to trade anywhere, anytime, without reference to the workplace.

Therefore, it is not surprising that already inthe first few days after the pre-registration was opened, more than 150,000 people applied for Prime XBT. Already in the first week of trading, the volume of trading operations exceeded $ 60 million.

Registration on Deribit (10% discount on commission)</p>

Register for Prime XBT

Registration on Bitmex (10% discount on commission)