PrimeBit is a P2P cryptocurrency contracts exchange that’s growing in popularity. PrimeBit has two killer features. First, it offers users unlimited profit (multiplied by a leverage if necessary) with a capped risk of loss. Second, it’s the easiest and most intuitive way to trade cryptocurrency contracts.
Unlimited Profit with Capped Risk
PrimeBit contracts are so attractive because they give you unlimited profits with limited loss. It’s a great win that limits the risks the traders take. If you are on the right side of the market you keep on profiting as PrimeBit contracts don’t expire. At the same time, if the price goes against you, your losses cannot exceed the deposit.
Additionally, PrimeBit offers the highest maximum leverage on all the major cryptocurrency pairs: BTCUSD, ETHUSD, or LTCUSD. This is also true for Tether account pairs: BTCUSDT, ETHUSDT, and LTCUSDT.
How to make profitable trades with PrimeBit
To make things easier, we divided PrimeBit WebTrader into three sections. They represent traders’ flow.
- Analyze the chart,
- Check out the market Depth, Order book, and contract details,
- Make a New order.
In the first section, you can use all the technical analysis drawing tools and indicators to come up with your trading strategy. Once you know whether there’s an opportunity in buying or selling the cryptocurrency contract, you can check the offers placed by other PrimeBit users.
The most attractive prices are in the center of the Order book (see the screen below). The numbers in red (1) are SELL offers, so the lower the price the more attractive the offer for a buyer. The numbers in green (2) are BUY offers, and here the higher the price the better the offer for a seller.
Once you click any order in the Order book (step 1 below), it appears in the New order window. You can match it by clicking the BUY button (step 2) for sell offers (red) from the Order book or by clicking the SELL button for buy offers (green) in the Order book.
You can see your Open Orders in the window below the chart.
You don’t have to match the offer from the Order book. You can ask for a better price (lower for BUY and higher for SELL). In this case, your “Buy limit” order will appear in the “Order book” of all the PrimeBit users, and also will be visible for you in the Pending Orders tab (screenshot below).
You can also make Market orders, which are going to be matched instantly against existing orders in the Order Book. Just pick the side (see the screen below), select the “Market” type (step 1), and the number of contracts you want to buy (step 2), and click the BUY or SELL button (step 3). These orders are matched instantly, and you can see them in the Open Orders tab.
The Open Orders are active until you decide to close them. You can do it clicking on the “x” icon in the order row or by placing the opposite order.
The position may be also closed automatically when your account’s margin level drops to 50% or below. In this case, the liquidation process for your positions is activated.
For any kind of contracts, you can also see your position in the auto deleveraging (ADL) queue. Once all the squares are green, your position will likely be reduced automatically.
Watch your profit or loss (PNL) in the table below the chart. The first column measures your gains with reference to the PrimeBit’s Fair Price, while the second column with reference to Order Book prices.
That’s it. Trading with PrimeBit WebTrader is very easy. We are sure you are going to love it.