As the cryptocurrency arena has matured, investors have moved on from pure exchanges like Coinbase and Gemini seeking more well-rounded platforms. Today, the most talked-about names include heavy hitters like PrimeXBT, FTX, and ByBit. Each of these platforms provides its audience with more than just buying and selling crypto assets and consists of a variety of cryptocurrency-centric products and services.
Because each platform is respected, reputable, and has extensive features to boast, we are breaking down which platform offers what and picking a winner among who has the best all-around solutions that best cater to the always-evolving needs of today’s crypto trader.
The Heaviest Hitters Of Crypto Trading
We picked the most enormous beasts in the crypto industry and put them head-to-head, battle royale-style, and are going to select an undisputed champion based on who has the very best solutions all-around.
Take a look at the comparison below and decide for yourself:
PrimeXBT, at its core, is an award-winning margin trading platform with an impeccable track record of customer service and platform stability. However, that margin account system lends itself to a vast array of products and services that greatly enhance the experience for users.
The entire journey as a crypto trader begins with PrimeXBT. Users can buy crypto, make a deposit to a highly secure cryptocurrency wallet system, then access the powerful advanced trading tools offered by the platform. Long and short positions, hedge positions, and more make flexibility across a comprehensive portfolio of trading instruments possible. More than 100 of today’s most popular and volatile trading instruments are listed here, such as gold, oil, forex, Bitcoin, and stock indices. Max leverage reaches up to 200x on cryptocurrencies. Everything can also be managed while on the go from a free iOS or Android mobile application.
The most significant competitive advantage PrimeXBT has over every other platform on the market is the Covesting copy trading module. The Covesting copy trading module is a peer-to-peer copy trading community centered around a fully transparent global leaderboard system. Strategy manager accounts, when opened, have their performance tracked within these leaderboards so followers can view metrics and make safe decisions about who to follow. When following a strategy manager, all trades are automatically copied so the follower can sit back and let the strategy manager do the heavy lifting. Less experienced traders can leverage the experience of these more skilled traders.
In fact, PrimeXBT offers tons of tools for inexperienced traders to step up their games and boost their skillset at no risk or cost. For example, the PrimeXBT Trading Academy educational website stands out as something no other platform offers and can mean a major difference as new traders get started and begin to make money. In addition to the massive database of guides, tips, and more, users can test them out in real-time using no-risk virtual funds within the PrimeXBT Contests section. In this area of the platform, users can compete for prizes or simply practice their skills in a simulated market environment. Built-in technical analysis tools arm these traders with everything they could need for success. Yield accounts let users earn income passively and generate a variable APY on idle crypto assets by connecting to DeFi staking protocols right from within the PrimeXBT dashboard.
ByBit does provide a spot trading environment in addition to derivatives, with a wide range of digital assets to choose from. There is also a launchpad program where ByBit provides users with exposure to early access token launches. However, these carry a high level of risk similar to ICOs. Derivatives trading reaches a maximum of 100x leverage on contracts. ByBit also offers a free mobile application for all users.
ByBit’s experience begins at two different starting points: getting started as an inexperienced user or as someone who already knows the ropes and simply wants to get started. The fact the platform caters to both novices and professionals this way is helpful and welcoming for all. The user interface is simplistic and easy to get the hang of but does lack the serious depth found in competitors.
ByBit begins to stand out from others with its Earn program. Like PrimeXBT, ByBit offers an easy way to connect to DeFi protocols. Earn also provides additional features like a flexible savings account, liquidity provisioning, and a unique program called Launchpool that lets users stake and farm for new tokens at no cost at all. ByBit also started to dip its toes into the NFT waters and has launched a separate NFT marketplace. While an excellent addition, it doesn’t quite serve the fundamental crypto trading community as the rest of their platform does.
FTX is another big player that has grown considerably in a short amount of time. The platform’s CEO has gained a lot of fame around the cryptocurrency industry as both an early investor and as the leader of a top crypto exchange, which has helped bring the brand added visibility. Adding to this, FTX has partnered with several high-profile celebrities like NFL Quarterback Tom Brady who is helping to bring users to the brand in droves.
At its core, FTX is a crypto exchange and derivatives trading platform with a maximum 20x leverage. FTX built its reputation on high leverage, exotic trading contracts but has since pulled back on the leverage scale due to its connections with global financial regulators. FTX has business operations inside the US and globally, which has created a disjointed experience for users who arrive expecting one thing but are given another.
For global users, FTX does have the full gamut of crypto services, like an NFT marketplace, a crypto payments service called FTX Pay, and the FTX Card. There is also an OTC trading desk and several other unique features. The company also does offer a mobile app that syncs with the Blockfolio crypto portfolio tracker application. Another interesting initiative is the company’s FTX Climate website, where FTX outlines its plan to become carbon neutral. It has pledged to spend more than $1 million a year on green initiatives.
Conclusion: The Best of The Best All-Around Solutions
Fighting climate change is a noble goal, and adding things like an NFT marketplace does make platforms appear more robust from the outside looking in. But when it comes to the most valuable features, the best all-around solutions go to PrimeXBT.
Without all the filler, PrimeXBT provides crypto traders with everything they need for trading, along with the best set of complementary cryptocurrency-focused products and services. All platforms have plenty to offer, but when looking for the best of the best – hands down, the nod goes to PrimeXBT. Register for a free account today and see for yourself why we chose PrimeXBT over these other heavy hitters in crypto.
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