As a customer-focused trading platform, PrimeXBT is always looking for new ways to improve the platform experience, design and offering across all possible trading instruments and much more. As such, it has recently added margin accounts that support multiple coins, so Bitcoin margin accounts for which the platform has won awards are not the only option.
The winning formula now extends to ETH, USDC and USDT margin account coins as well. For traders who own BTC and want to be exposed to these other accounts, or want to use stable coins or other assets as part of a capital growth strategy, they can now trade coins on the go quickly and easily with PrimeXBT’s new feature Exchange.
Why exchange coins with PrimeXBT?
PrimeXBT is an award-winning margin account trading platform that debuted for the first time with Bitcoin-based CFDs. This means that coins contracts, stock indices, commodities and more can be traded but settled in BTC.
Starting with a basic account, PrimeXBT focused on honing its experience and developing innovative trading tools. However, as the crypto coins ecosystem has grown, the demand for other base account currencies has also grown.
PrimeXBT met this demand with a V2.0 infrastructure update, which introduced ETH and the ERC-20 versions of USDC and USDT. These other cryptocurrencies were joined by the BTC as options to fund margin trading accounts on the platform.
Risk-averse investors prefer to trade stable coins as the base coins of the account, as this has less impact than the coin itself in PnL. An example of this: if a trader has a successful open sale, he can lose the entire account value if the Bitcoin price is falling hard enough. If the trader had used a stable coin based margin account, he would only have made a profit.
On the other hand, when Bitcoin was at its peak, earnings from long positions were compounded by Bitcoin price appreciation for a synergistic effect on ROI. The benefits are clear.
How to take advantage of new Exchange functionality
Although the platform is packed with all kinds of advanced trading tools, using the platform is surprisingly simple. Ease of use is a crucial factor in bringing users back to the platform. That’s why exchanging cryptoactive account currencies to and from an asset couldn’t be simpler.
On the same main dashboard page that was added with the PrimeXBT V2.0 update, a new Exchange button has been added, which opens a pop-up window with entries related to each crypto coins and values.
Users just need to select from the offered assets, enter a value and the module will display updated calculations every 15 seconds to get the most up-to-date exchange rates. What the module shows is what you will get. The amounts will be automatically deducted from the portfolio of the first asset and the new asset will be deposited instantly.
Trades are included in transfers in the reports section, which is another new area added along with multi coins support and the V2.0 update. The trading service also offers an easy way to trade other cryptoactives obtained through the PrimeXBT referral program without having to leave the platform, one more step towards becoming the best one-stop shop for traders globally.
