In an industry such as the cryptocurrency market, the prevalence of a large number of deceptive platforms and other kinds of nefarious activity means that people within the industry are understandably vigilant when it comes to newer platforms entering the market.
This is why it is platforms that prove their trustworthiness and a commitment to providing high-quality services that garner substantial levels of success within the industry, and why users flock to platforms that have a proven track record for professionalism.
We’re taking a look at one such platform, margin trading platform PrimeXBT, and breaking down some of the reasons that the platform has managed to be able to grow an unprecedented level over the past few years and build the reputation that it has during this period of time as well.
Joining the Crypto Valley Association
The Crypto Valley Association is one of the central bodies of the cryptocurrency industry that has a membership of the most integral platforms, startups, and businesses from throughout the cryptocurrency space.
PrimeXBT was inducted into the Crypto Valley Association in March 2019, in a step which showed the level of validation that PrimeXBT had earned over a very short period of time of operating.
Today PrimeXBT remains a member of the Crypto Valley Association, and for many users this confidence that has been placed in PrimeXBT has being a positive indicator of the integrity of the platform.
Continual Communication with the Crypto Community
One thing that causes traders and investors in the cryptocurrency industry to lose confidence in a platform faster than anything else is poor communication, or in many cases a complete lack of communication, and this resulting in thousands of people being left in the dark about the direction that the platform is moving in.
PrimeXBT has effectively used social media and its own blog in order to have weekly and even daily updates of the new features and developments of the project, as well as building a huge following throughout social media across a number of different platforms that have themselves become self-sustaining communities.
In one study that was done on the 5 largest cryptocurrency margin trading platforms, for example, PrimeXBT was found to have the best customer service, and to be the only one of the 5 platforms that got a high score in all metrics such as speed of answer, helpfulness, politeness and range of support options.
Implementing Bank-Grade Security on the Platform
One of the largest cryptocurrency trading platforms, Binance, lost more than $40 million worth of the users funds in early 2019 as the result of a huge hack, and it is not just them, there is an ever present risk to cryptocurrency trading platforms and their users that hackers can strike at any time if security is not a major focus.
From its inception, PrimeXBT has placed a heavy amount of attention on ensuring that the funds of its users are safe, and that hackers cannot have access to the platform.
A wide range of bank-grade security measures have been implemented at PrimeXBT which include mandatory Bitcoin address whitelisting and the cold storage of digital assets with multi-signature technology.
It has been because of this focus that has been placed on security by PrimeXBT that it has robustly protected the funds of its users, continuing to build trust amongst the market, and ensuring that the platform has never been hacked or breached.
Never Being Hacked and Having a Perfect Security Track Record
PrimeXBT has a perfect security track record, which is no mean feat for any cryptocurrency trading platform in 2020, with the threats of hackers and other malicious parties being as real as ever.
PrimeXBT’s platform has been built from a security-first point of view, not just implementing a few features after the fact, but instead building advanced security features into the core of how PrimeXBT functions.
This is particularly encouraging considering that we have seen so many other major cryptocurrency trading platforms being hacked in the past few years, with these hacks sometimes ending up with traders even permanently losing their funds as a result.
PrimeXBT takes a professional approach to protecting the funds of its users on the platform, and this has helped the reputation of PrimeXBT to grow in relation to the security that it provides.
Providing a Range of Ways to Fund Accounts and Trade
Trust is not only about trusting that the funds that are deposited by traders and investors will be safe, but also trust that a platform has the foresight and care to be able to understand what is important to traders, and to listen to these demands and respond accordingly.
One of the most important considerations for many traders and investors in the cryptocurrency market is having a range of different ways to be able to fund their accounts, with a particular focus being on being able to use methods that are fast, safe, and cost effective.
In response to the demands of the market, PrimeXBT has implemented a wide range of different ways for users to be able to fund their accounts, including direct BTC payments, funding with a wide range of other cryptocurrencies, and also finding directly with credit cards and debit cards using PrimeXBT’s Changelly integration.
In Summary
PrimeXBT has quickly risen to become a leader in the cryptocurrency space, and since it’s launch has pushed the boundaries of what cryptocurrency trading actually is and how users can engage in it.
Where many other cryptocurrency trading platforms have failed to listen to the demands of the market, PrimeXBT has been particularly good at understanding what traders and investors want, and quickly and efficiently responding to this and implementing it in the tools and features available on the platform.
Find out more about PrimeXBT, as well as taking a deeper look at the features that are available on the platform, by checking out this link.