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PrimeXBT Review: Forex, Crypto, Commodities, and Indices at 1000x

PrimeXBT is a trading platform that is perfect for professionals, as well as first-time traders, and it’s crafted with a foundation of experience in traditional markets, which are presently going through a period of record-breaking volatility. Because of the platform’s roots deeply ingrained in traditional markets (although it got its start as a cryptocurrency exchange) it features a large list of traditional assets, and the tools available are more typically seen within traditional trading platforms. This reveals PrimeXBT as a unique proposition for traders, especially during the current economic conditions. Let’s see if the trading platform is worth signing up

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PrimeXBT is a trading platform that is perfect for professionals, as well as first-time traders, and it’s crafted with a foundation of experience in traditional markets, which are presently going through a period of record-breaking volatility.

Because of the platform’s roots deeply ingrained in traditional markets (although it got its start as a cryptocurrency exchange) it features a large list of traditional assets, and the tools available are more typically seen within traditional trading platforms.

This reveals PrimeXBT as a unique proposition for traders, especially during the current economic conditions. Let’s see if the trading platform is worth signing up for in this detailed and in-depth review.

PrimeXBT General Information and Details

PrimeXBT is registered and based in Seychelles but is available to any and all global traders.  The platform is highly safe, ultimately secure, and recently won a number of Forex Awards and the ADVFN award for Best Bitcoin Margin Trading Platform.

Registration is fast, and takes less than one minute tops. It also asks for no personal info and doesn’t require a KYC process.

Making a deposit is simple and easy; the smallest possible deposit acceptable is 0.001 BTC. Bitcoin may be deposited to a BTC address and wallet from any external account, or by using a third-party module and service known as Changelly.

After finishing the process in the Changelly widget, you may then transfer the newly-deposited BTC to your trading account and begin trading at your earliest convenience.

After your trading account is funded, select the Trade section to open the trading terminal to begin taking advantage of the platform’s advanced trading utilities.

Withdrawing funds can be done by visiting the Account section and making an internal transfer from their trading account back to the personal wallet. After an address is added to the BTC address whitelist and confirmed via email a withdrawal can be made.

Fees are very competitive and are as low as 0.001%. Most markets are open and available for nearly 24 hours, Monday through Friday, and cryptocurrencies trade around the clock, and even on weekends.Traders can work at reducing their fee impact and save more capital through a progressive fee discount system. Traders with 300 BTC trading turnover up to 600 BTC turnover, get 25% off, and those with more than 600 BTC turnover are offered 50% savings.

Outstanding Variety of Assets and Advanced Trading Tools

The variety of assets offered by PrimeXBT, all under one roof,  is simply incredible.

  • Over 50 assets across commodities, cryptocurrencies, forex, and stock indices
  • Many different commodities and a dozen of the globe’s most important stock indexes
  • Gold, silver, natural gas and oil
  • S&P 500, DAX, Dow and more
  • Over 25 major forex currency trading pairs: USD, JPY, AUD, etc.
  • 5 of the most important cryptocurrencies: BTC, ETH, etc.

The platforms that offer the greatest variety of trading instruments, also provide the greatest amount of profit opportunities and the best possible diversification of your asset portfolio.

The trading engine is rock solid, offering fast order completion and up to 99.9% uptime with very few outages reported to date.

The user interface is highly customizable and has serious aesthetic appeal. An intricate support center is brimming with helpful guides and useful tips.

The website is highly secured and passwords are encrypted. Bank-grade security protects all user accounts and data. Additional safeguards through address whitelist, email confirmation, and two-factor authentication further keep funds safe. And with no info ever required, your personal and private data is safe from leaks.

Leverage is offered at up to 1000x for forex currencies, and up to 100x on the remainder of assets on the platform including commodities, cryptocurrencies, and stock indexes.

Long and short positions are available, even at the same time allowing the building or hedge positions. Advanced order types such as stop-loss or take profit orders can be added when an order is placed or afterward if preferred.

Built-in charting tools round out the offering, but may be the most valuable tool of all. Traders can plan accordingly, then place orders directly by clicking on the chart itself.

PrimeXBT regularly introduces new innovative features, such as synthetic short-duration Bitcoin contracts called Turbo, and a new feature called the Coveesting Fund Management module.

Turbo lets traders take a break from stagnant markets and instead take short-duration trades consisting of just an UP or DOWN contract. These short-duration contracts can provide up to 90% profits in 30s seconds.

Covesting was just released in beta form, letting investors inject capital into the funds of top traders. These top traders take positions and profit from markets, letting the investors get a piece of the pie.

Recapping PrimeXBT’s Best Benefits

PrimeXBT is an ADVFN award-winning Bitcoin-based margin trading platform offering up to 1000x leverage on commodities, stock indices, forex, and cryptocurrencies.

Here are the platform’s primary benefits and features:

  • One minute or less registration, with no personal data required
  • 001 BTC minimum deposits, alternative deposit methods available
  • Bank grade security with additional protection features; reliable trading engine
  • Long and short positions and up to 1000x leverage on forex, crypto, stock indices, commodities
  • Built-in charting tools with technical analysis indicators 24/7 live customer service
  • Innovative tools such as Turbo and Covesting
  • Free mobile app for iOS and Android

Conclusion: Sign Up For PrimeXBT Today

The security is uncompromising, and privacy is a focus for the platform that doesn’t require a KYC process, or personal info. Because of this, signing up is quite fast.

Once you get started with a free trading account, the platform offers everything a trader needs to become profitable, including charting software, risk mitigation tools, a help center, and so much more.

Due to all of this and more, PrimeXBT is highly recommended for traders of every experience level and background.

This is a sponsored post. As it’s related to crypto trading, you should also read our risk warning. Read more in our editorial policy.

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Source: https://bitcoinsinireland.com/primexbt-review-forex-crypto-commodities-and-indices-at-1000x/

Blockchain

Shiba Inu’s days in the sun may be over; here’s why

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In a market full of investment-worthy coins, there are a few meme-coins such as Shiba Inu that do not offer much value, be it in terms of use-case or a strong network. Thanks to its strong community though, SHIB managed to surprise the entire crypto space.

However, it seems the community is not what it used to be anymore.

Shiba Inu sees a dump

On September 16, SHIB got listed on Coinbase pro, and people went into a frenzy. The meme-coin witnessed a 28.87% growth in 1 day.

This is the highest single-day growth since May and even then, SHIB could not breach its long-established resistance level of 0.00001010. SHIB has been stuck under it since May.

Shiba Inu’s price rose by 28.8% 48 hours ago | Source: TradingView – AMBCrypto

But that did not stop the SHIB supporters from reacting strongly. Within 48 hours, over 6.04 trillion SHIB was bought out of the market, figures that were last seen on July 26. This further led to the supply on exchanges falling to a 4-month low.

Shiba Inu’s supply on exchanges at a 4-month low | Source: Santiment – AMBCrypto

Why you should stay away from SHIB?

This kind of behavior is the exact reason why SHIB is an untrustworthy asset because it is literally treated like a pump and dump asset. The instances observed yesterday are similar to what we saw at the beginning of the July rally.

Its own community does not take it seriously and only appears during a price rise to cash out as much as possible. Active addresses and transaction volumes remain dormant and pretty low, regularly, and rise only when there is a price rise.

Shiba Inu’s transactions volumes | Source: Santiment – AMBCrypto

In fact, long-term holders cash out at the first sign of profits, too. Yesterday over 3.3 quadrillion coin days were destroyed, levels similar to which were earlier noticed, in July, showing the movement of old coins. If they had kept their holdings instead, the price would have remained stable.

Shiba Inu’s coin days destroyed | Source: Santiment – AMBCrypto

Adding to the pump and dump narrative, is the fact that in less than 24 hours, MVRV fell. Down from the strength of 2.0 into the negative zone at press time.

Shiba Inu’s MVRV in the negative zone | Source: Santiment – AMBCrypto

Simply put, there is no real value coming into the coin from the very loyal SHIB community as of now. However, due to its fanbase and hyped DOGE, it will keep blipping on the crypto radar every now and then.

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Source: https://ambcrypto.com/shiba-inus-days-in-the-sun-may-be-over-heres-why

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Blockchain

Making sense of Solana’s ‘extremely rapid’ growth

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When Solana experienced a crash right after hitting a new all time high on 9 September, traders and experts tried to make sense of the event. On “The Best Business Show,” investment expert Anthony Pompliano interviewed Kyle Samani, co-founder and managing partner at Multicoin Capital, to discuss the rising star-turned-meteor, that Solana has turned out to be.

From 4 cents to over $200

Pompliano began by discussing Multicoin Capital’s investment in Solana. He calculated that the initial investment had gone up roughly 3750 times since the initial round, when one SOL had been at $0.04.

For his part, Samani said,

“Solana today is growing at an extremely rapid pace. Users being on-boarded, assets being issued, stablecoins going into it – all of these things. Look at the last nine days: it’s just a vertical line from, call it a billion in assets to like 10 billion.”

While listing out possible factors for Solana’s success, Samani cited Solana’s speed and network, its NFT platform Metaplex, the rise in SOL’s price, and the stablecoins issued.

Network > Price

Inevitably, Pompliano brought up Solana’s crash – though he admitted calling it so was “hilarious,” in the context of the alt coin’s growth. However, Samani’s answer was a surprising one. He claimed that he tried to ignore prices and didn’t refer to Coin Gecko or Coin Market Cap. Rather, he preferred to focus on Solana’s network and its growth. He further explained,

“Our time horizon is measured in years, not weeks or months. So the question we will always ask ourselves, is you know, is this network compounding at a sufficiently fast rate? And if you really go dig into developer activity, user on-boarding, dollar flow in the system. . .all of those things right now are compounding at an astounding rate and I don’t think that’s going to slow down.”

Furthermore, the following infographic presents data on Solana transfers.

Could Solana kill Ethereum?

Samani spoke about Metaplex and how the NFT platform came during the NFT Boom of summer 2021. He noted Ethereum’s high gas fees and how many users saw Solana as a faster alternative. Even so, Samani admitted that he thought it was “improbable” for Solana to displace Ethereum. Instead he suggested the two would likely co-exist.

Samani also addressed a common criticism aimed at Solana, regarding the its centralized nature, due to the number of validators and the expensive hardware required to run it.

Samani called the criticism “valid” but “irrelevant,” pointing out that the trade-off meant better performance for users, reiterating the network’s rapid growth.

At press time, there were between 974 and 1000 validators on the Solana mainnet. Samani’s assessment of the alt coin was simple but memorable. He said,

“I don’t think there’s going to be another Solana.”

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Source: https://ambcrypto.com/making-sense-of-solanas-extremely-rapid-growth

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Blockchain

Will Bitcoin make a pitstop at $85,000, before racing to $100,000

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Even though Bitcoin has been making no major moves of late, the market’s bullishness on the coin continued making headlines, and all for the right reasons. After all, the king coin surprised the market before, with massive its moves that rendered skeptics silent. 

Bitcoin to $100K, by the end of the year is a much-anticipated move by the market. As we enter the last quarter of this year, Bitcoin is expected to push towards that major psychological barrier. However, even though Bitcoin presented a solid recovery from the May crash, at the time of writing, the effects of the September 7 flash crash hadn’t completely worn out. 

Nonetheless, as BTC presented around 3% daily gains and traded at the $48.5 level at press time, the market once again eyed BTC for some major moves. But before Bitcoin actually makes a move towards the $100K, its last stop would be the $85K mark which will confirm an upward move to $100K. 

The above observation was part of a market report by trading platform Decentrader ,which presented bullish signals in the near term, for BTC. It presented how we it could be setting up for a major run that first reaches $85,000 before breaking through the psychological barrier of $100,000, thereby making for an explosive Q4 2021. 

BTC looking hyper bullish 

In spite of BTC trading below $50K throughout the week, on-chain metrics have led analysts to stay bullish on Bitcoin price action. A report stated that the constantly decreasing supply of BTC on exchanges put upwards pressure on price in the medium term. With demand increasing as supply reduces, the price would go up. 

Further, another factor that contributed to Bitcoin’s bullish mid-term trajectory was its SOPR which presented a similar trend to the months that followed the March covid crash. After the summer crash where SOPR was heavily printing green candles, some minor selling at a loss was observed on this pullback from $50,000 too. Thus, SOPR flashed a sort of buy-the-dip opportunity as final sellers get flushed out before it moves higher, as was observed in Q4 2020. 

Additionally, Active Address Sentiment Indicator had reset with price change lower than active address change. With a pullback in prices alongside constant network growth, the market will look to catch up with network growth by noting price gains. 

Thus, the report presented a hyper-bullish possibility of Bitcoin reaching $85K by the end of Q4. However, Bitcoin’s options market didn’t look too big on gains at the moment with funding rate flashing negative signs. Further BTC’s global open interest by expiry indicated year-end expectations of around $65K which is almost $20K less than the target of $85K. 

So, is $100K too far?

Well, not really. The reason being that, from the July local low of around $30K Bitcoin registered almost 75% gain to reach the multi-month price high of over $52K. Notably from the current consolidating prices, another 75% price gain would land Bitcoin to $85K. So a rally like that over the next three months won’t be a big surprise. 

Thus, while BTC was consolidating, a squeeze upward should characterize the remainder of this year, similar to events from 2020. 

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Source: https://ambcrypto.com/will-bitcoin-make-a-pitstop-at-85000-before-racing-to-100000

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