you guys may not know this but bit Mex could be in big trouble they're having to shut down in countries all over the world due to an ongoing CFTC investigation and there's an outside chance it could get shut down we're gonna show you an alternative to bit mechs when it comes to leverage trading and how to use it hey guys welcome to big-boy crypto don't forget to smash that like button and subscribe to the channel if you like the content you see here so okay guys bit Mex is in some trouble there's no doubt about it now how big is this trouble we just don't know yet but there is an ongoing investigation by the CFTC on bit Mex now they've already had to shut down US accounts they've already had to shut down accounts in Quebec in Canada and more recently they've even had to shut down in their home country of Hong Kong also in Bermuda and in Seychelles now if you don't know Seychelles you can sell seashells by the seashore but you can no longer leverage trade there so we're looking today at a alternative for leverage training which is prime xbt so prime xbt did sponsor this video so thank you to them for sponsoring if you guys would like to sign up for prime xbt if you like anything that we show you here today and i think that you might now you can sign up by going to prime dot bit boy dot live and you help support the channel so here we go guys we are on the prime xbt website now if you did not know xbt is an alternative ticker symbol to BTC so when it says prime xbt you would actually read that prime Bitcoin it would be the same if it said prime BTC a lot of the more institutional focuses in crypto are kind of siding with that xvt ticker as opposed to BTC not really sure why but that's something that we are saying so leveraged trading we see that as well bit mixed uses that some other lever trading platforms use X BT as opposed to BTC so here we go guys let's take a look at what you can trade here now first I would like to say the fees on prime X BT are very low it's got very high liquidity and it also has a very high level of security so those are three things that you always want to see in an exchange now if you're interested in trading other things than just Bitcoin now there are crypto currencies you can trade such as aetherium x RP litecoin and eos with a hundred x leverage and the lowest fees indices which if you didn't know is the plural of index I'm just teaching you guys so many things today access the most popular indices such as SMP 500 FTSE 100 and Japan much more also so on forex trading is very interesting so you can go short on 25 forex majors but you can actually trade up to 1000 X when it comes to forex so 1000 X with forex trading so commodities speculate on the prices of high-profile commodities such as oil and gold and profit from their growth and decline it's great to make money on both ends of the spectrum which is why people like leverage training with just regular training or ha tooling a either situation you know you're really a slave to the market like you want the price to go up when it goes down of course we say buy the dip and things like that but you really need the price to go up in order to make money however with leverage trading you can actually make money at the top of the market or the bottom of the market so you can go long or short so long means you're gonna bet the price is gonna go up short means you're gonna bet the price is gonna go down now these are things I had no idea about before I got into crypto I didn't do any kind of trading before you know I really got involved in crypto currency and things like that so if you're new to this and those are terms that you didn't know then once again there you go we gave you something maybe that you'll learn today so when people are talking about going long they're talking about betting on the price going up going short you can bet you can gamble on the price going down so here we go guys this is kind of your account summary so I've actually put just a little bit in so like I said the or I haven't said this yet the minimum that you can deposit is point zero zero one Bitcoin and so you can see I deposited just kind of the minimum to get in here and to learn and that's just everybody does that before you really jump full force into a platform unless you're a very experienced trader which leveraged trading is more for the experience but hey if you point if you put point zero zero one Bitcoin in there and you're not for maybe a third-world country that's not that much money you know so if you got in here and you lost your ten bucks which is basically what that is not financial advice but it's probably not gonna kill you so I put some in here and I've been you know playing around with it just a little bit okay so you can see here we have available margin ninety three point one four percent if you hover over anything that's got those little dotted lines under it it'll show you what it is so it says total amount of funds available for trading represented and percent available margin equals available margin slash equity or divided by equity times 100 socially your available margin and things like that so if you want to deposit this is the way it works you have to go here to deposit you click here on the left and you had to put money in your account so it's really cool what they have here how you can put money in your account you can do this through the change Lea widget here now I believe the minimum that you can deposit through the change Lea widget is a hundred dollars so if you deposit another way you can put ten dollars a Bitcoin in here from another wallet if you want to try it out but if you want to buy with a credit card you can do it right here on the website through this change Lea widget this is not a screenshot here this is an active widget so you can choose what you want to deposit or what you want to buy here through change Li and then it'll go straight to your wallet so if you want to go straight to the change Lea website you could do that as well by clicking there and do it that way but I do like the way they have it right there on the site so okay guys so once you do that okay once you have money in your wallet which I don't have any right here because mine's in my trading wallet so this says trading account here you can see it talks about what this is you have to transfer your money to your wallet and then withdraw to to your trading account so all you got to do is when you have wallet balance over here it'll say like you know point one Bitcoin or whatever you would just click fund trading account here and it's pretty much instant it takes two or three seconds to move it over here to your training account so that's kind of a security feature that keeps you from you know accidentally gambling in a way with too much of your money in your wallet if you only want to keep some backup money in your wallet in case you used all your margin and you get liquidated which means you lose all your money and you know in your account for a trade then that's what this will allow it to do now another cool thing here is when you go to withdraw when you go to a draw it's got a security feature here we talked about they have high security you can add a destination address so this would be where you would withdraw funds to you have first need to take it from your trading account to your regular wallet and then you would withdraw to a white listed address so this would be a Bitcoin address that you choose and this is a security feature because if somehow you know prime X BT were to get hacked a hacker could not send funds out of your account to any address that's not on this whitelisted you know account list so that means that the only place they could send it to if they got into your account was to you know one of your addresses that you've already whitelisted so obviously hackers when they get into exchanges that are trying to do things in masse very quickly and so this little complication here would make it much more difficult for you to get hacked which is kind of cool so let's talk a little bit about their affiliate program so I am a part of the affiliate program like I said you guys go to prime dot big boy dot live the link is right over here you can just click or well you can't click it if you click the screen it's going to pause it and I know you guys like to hear me talk so let's not do that put this in the address bar of your browser prime dot big boy dot live and you can go sign up that is my referral link no the cool thing about the referral program is then I'm trying to sell you on their referral program is that it is a a tiered system so you would get 20% of the training fees of people you refer but the people that they refer you would get 15% and the people that those people refer to you get 10% and then so forth down the line all the way to 5% at tier 4 now if you have a tier 4 and they refer other people then you know the pyramid just kind of starts over again for them and you get left out of that but I think with 4 levels below you I think you'll be probably pretty good so it does have a really cool really robat robust affiliate program if you'd like to sign up for that you can once again go to the link here so okay guys let's look at the platform itself so one cool feature about the prime xbt the platform is you can add a little widget so if I got rid of this here you can just hit an X and just get rid of things and you come here to widgets and you can add things so if I wanted if I had a watch list and there's something that I wanted to to kind of watch the specific price on an asset I could do that there if I click dashboard um that'll add there and then for the dashboard I can add things that I want to see too so by one day I have like coin compared to Bitcoin if I wanted to know like coin compared to u.s. dollar I could do that as well and put that there and you can just kind of create as many things as you want to see you want the Bitcoin prize compared to the US dollar this is a good way to watch how assets are performing against each other so there's other witches you can put in here as well you can put positions obviously I've just have one little position here that I've taken out the fill price up to point zero one and you can kind of see the current price so I'm actually doing pretty well I'm up about $200 on the Bitcoin price not on as you can see I had a very small amount just kind of testing things out here okay you guys have to remember I'm not a professional leveraged trader so I like to get in and try things before I really you know go go ham on something but I do like bacon better than him but current trades I can click on that now once you fill up these top three spots then or top four spots we added one more thing well I thought it would add to the bottom here you can actually move these to the bottom as well and I don't know why it's not doing it here but there are other ways that you can lay this out is along in the short of it you can put things at the top you can put things at the bottom you can move it down see so if I take this here it's kind of like a website like a website designer like Wix or something you just click and drag so see now I've got it over here if I wanted this to be kind of three-tiered I could put this here and look now I've got three things down here I got my chart you can lay this out however you want to lay this out which is something I really like so if we were actually to do a trade we would go up here we click on what we want to trade so here's Bitcoin vs. US dollar so you just click trade right here and you can do a market order which is something that you know gets triggered when something reaches a certain amount or that's the that's the limit order excuse me a market order is gonna trigger right away so whatever you set over here however you want you know to trade or whatever asset you're trading if you do a market order it's gonna go right away it's gonna trigger because it's gonna go at the exact market price of whatever you are trading if you do a limit order then you can kind of set the place you want to trigger if you want to buy and then the price is gonna have to be lower if you want to sell the price is gonna have to be higher so this is kind of buying dip selling profits that's why you would want to do limit it's same thing in a regular trading exchange you can set a stop loss as well so let's say you got a trade that's going well let's say Bitcoin you're longing Bitcoin it goes from 10,000 to 11,000 you say there's some resistance there I want to make sure that you know I want to take some profit when it gets to 11,000 you can set your stop your take profit there your stop-loss you can set it if the price starts dropping you don't want to drop below a certain amount and then you can also do Osio trades which are kind of conditional trades a little more complicated than what I like to do honestly when it comes to lever trading but you do have that available to you so overall prime xbt in my opinion is a good trading platform I am you know as you guys can see I got 93 percent available margin over here so I can kind of go ham and make some money I've already made a dollar and 91 cents so it's unrealized though I could lose it all and get liquidated or I could take my profits that's a pretty good profit right there I mean if you think to yourself like okay let's say instead of putting the minimum into kind of try things that my balance was 1,300 dollars instead of $13 then you know what I would have made $200 which is a pretty good gain you know over a short period of time so leverage rate is something we're gonna be talking more about on the channel that something I'm very interested in I'm trying to do more I'm never gonna give you guys advice on how to leverage trade because personally myself I'm still learning but there's a very beginner friendly platform and I really do like that I like how it shows everything I'm at the top you're available margin and things like that so hope you guys enjoyed this review drop me a comment below and let me know which trading platform you would like to see me a review you would like to see me look at when it comes to leverage trading or which one that you like the most and you know a lot of people use by bit obviously some people are still using bit mechs but I think the prime xbt could be a good option for you so thank you very much for watching this video bit boy out
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Prime XBT Tutorial For Beginners (Leverage Trading)
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