Is PrimeXBT a scam or a trustworthy platform?

PrimeXBT trade desk

Every new platform that is growing fast usually have acquisitions for being a scam. Just like PrimeXBT, a leverage trading platform with high leverage of 100x. If you search on the web you can find many posts that blame it for being a scam. But let’s not forget that competitors in the space hire people to do black PR marketing.

Of course, the platform is trustworthy and has an amazing interface with a unique take on leverage. The design here is different and handling your positions and margin is handled differently compared to that on Bitmex or Bybit.

Where is PrimeXBT registered?

Many think that Prime is an unregistered business, but the truth is far from that. With the recent move to Switzerland, they have made it clear that they are planning to stay for the long term.

You can check for this information on their Medium page here.

The B2B partnership with Covesting

PrimeXBT partnered with Covesting so they can add copy-trading to the options available on the platform. Why is this partnership so important? Covesting is regulated and has a DLT license from Gibraltar plus 3 additional licenses from Estonia:

  • FVR000225 – Providing services of exchanging a virtual currency against a fiat currency
  • FRK000188 – Providing a virtual currency wallet service
  • FFA000263 – Operating as a financial institution

If PrimeXBT was a scam or untrustworthy platform such a regulated entity like Covesting would never get themselves on that B2B partnership deal. This proves to us that this unique leverage trading platform is serious.

Why PrimeXBT is important?

PrimeXBT is not a scam, it is quite the opposite, a leverage trading platform with big potential. You will find a unique take on leverage which is innovative and suitable for every taste.

Don’t trust everything on the web

If you search the web for bad opinions for any company or platform, you are going to find that there is a lot of bad stuff. Black PR marketing is a common thing especially since we have the internet. Don’t trust everything you read, especially if you are in the crypto industry. Do your own research so you can make an unbiased opinion on an exchange.

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