All across the cryptocurrency industry, the bear market has caused companies to crumble under pressure. More than anything, it has exposed the businesses with the least-savory practices, who have misused customer funds and taken extreme risks with capital.
The most recent in a string of sad situations involved the cryptocurrency exchange FTX. Customer funds are frozen and unable to be withdrawn, and the company is at risk of insolvency if a buyer doesn’t step in.
Considering the lack of trust everywhere across crypto, it was time to call attention to a reliable crypto trading platform that genuinely knows what it is like to survive a bear market and coincidentally provides access to the very best tools to do so as a trader or investor.
Here is everything you need to know about PrimeXBT and crypto winter survival.
Recapping The Last Crypto Winter And The Birth Of PrimeXBT
Unlike most platforms that know only prosperity in the cryptocurrency market, PrimeXBT was initially launched during the 2018 bear market. The company’s founders had deep experience in traditional markets, allowing the company to build a strong foundation and grow its user base despite the struggling market conditions.
An essential factor in PrimeXBT’s initial growth turned out to be the downtrend itself. Competitors like Coinbase, Binance, and others back then typically only offered the ability to buy and sell cryptocurrencies, with little-to-no margin trading to speak of. That means that there isn’t a way to be profitable during crypto winter on these platforms, allowing PrimeXBT to capture substantial market share by offering short positions.
Few other platforms provided access to shorting Bitcoin, Ethereum, and other top cryptocurrencies at the time. The other alternative was BitMEX. The once king of trading has disappeared from the cryptocurrency industry because trust was always an issue.
While PrimeXBT maintained its growth, it has also been the subject of no scandals, there has never been a hack, and the platform has repeatedly received industry awards that suggest it is exceptionally trustworthy. In fact, the most recent honor received was by Crypto Expo Dubai, naming PrimeXBT the Most Trusted Crypto-Asset Trading Platform of 2022.
The Current Bear Market And How PrimeXBT Avoided Crypto Contagion
Fast-forward to today, and once again, the big brands that blew up during the bull market are falling hard. What appeared to be the start of huge new empires are now facing bankruptcy. Company CEOs that were once hailed as the next Warren Buffett are now facing public backlash and personal financial destruction.
While company after company has dropped like dominoes, one after another, one platform continues to stand strong and experience no issues with liquidity, never suffers any outages, has never been part of a scandal, and there have been no reports of hacks. The award-winning PrimeXBT trading platform has proven through time in the market that there is simply no comparison.
The platform utilizes bank-grade security procedures and follows strict safety and compliance guidelines. Customer funds are protected by a proprietary cold storage process that only allows withdrawals just once per day for added protection. PrimeXBT also works closely with Covesting, a licensed European fintech firm that supplies the copy trading technology that is exclusive to the margin trading platform.
The company also has a strong presence all across social media, regularly participating in giveaways and contests and engaging with the cryptocurrency community. A help center is offered on-site, as well as an official blog where users can get updates directly from the source. There is 24/7 customer support staff should anything come up.
Innovative PrimeXBT Crypto Winter Survival Tools Explained
We haven’t even yet touched on how PrimeXBT also prepares traders with what they need to survive crypto winter themselves. The margin trading platform provides powerful tools, such as long and short positions, leverage, stop loss protection, and built-in technical analysis software. Traders get access to this entire arsenal from either the website or mobile app for Android and iOS devices.
In addition to cryptocurrency trading via Bitcoin, Ethereum, and dozens of top altcoins, PrimeXBT also offers exposure to traditional assets like stock indices, commodities, metals, and forex currencies. Using a wide range of more than 100 trading instruments under one roof, traders can build a portfolio geared toward capital protection and prevent bear market losses.
Users can do everything from buying crypto to earning interest by staking idle crypto assets and much more. PrimeXBT is also home to the Covesting copy trading module. In this peer-to-peer trading community, followers can automatically copy the trades of other top-ranked traders called strategy managers. It is a great way to get passive exposure to markets without all the hard work and stress.
There are still more features to consider. The PrimeXBT Trading Academy can teach important tips on how to stay profitable during downtrends or how to bolster risk management strategies. PrimeXBT Contests is a venue for weekly trading competitions using no-risk virtual funds. A four-level referral program can also provide additional income streams for traders with a large following.
Fortify Your Financial Foundation This Crypto Winter With The PrimeXBT Trading Platform
PrimeXBT spent an entire crypto winter building its foundation and, due to that, is strong enough to not only survive this recent bear market but continue to thrive during it. More importantly, with the innovative trading tools and cryptocurrency-based products and services offered, investors and traders will also have everything they need for crypto winter in one place.
Between hedge positions, portfolio diversity, and plenty of other ways to gain exposure to the market, be among the last traders standing by trading with PrimeXBT.