Archives: Crypto

Trading options in the Bitcode Prime trading platform

The trading platform is suitable for both intermediate and advanced users and offers a wide range of trading options. In addition to leveraged margin trading, Bitcode Prime also offers the following order types:

  • Market
  • Limit
  • Halt
  • Trailing stop
  • Fill or kill
  • One cancels the other (OCO)
  • Post-Only Limit Order
  • Hidden order

Because the exchange attracts high trading volume and has a high degree of liquidity, bid/ask and order counting are resolved in real time, giving members more flexibility in choosing the best time to place an order.

What does trading cost at Bitcode Prime? – The fees

Fees on Bitcode Prime are listed in their fee schedule and are based on trading volume over the last 30 days, as well as Maker or Takler status.

  • Maker fees are paid when you add liquidity to the order book by placing a limit order below the ticker price when buying and above the ticker price when selling.
  • Taker fees are paid when customers do the opposite and remove liquidity from the order book by executing an order that is already in the order book.
  • Maker fees range from 0.1% to 0.0%, while taker fees range from 0.2% to 0.1%.
  • The higher rates cover trading volumes of up to $500,000 per month, while clients must accumulate trades worth more than $30 million per month to qualify for the lowest fee rates.
  • All cryptocurrency deposits are free, but withdrawals are not, and there are a variety of different fees depending on which cryptocurrency you wish to withdraw. There is a 0.1% fee for bank transfer deposits.

Conclusion on my Bitcode Prime experience: Reputable trading platform

Bitcode Prime is one of the most established exchanges in operation today, offering a service tailored to experienced traders and institutional investors. So far, I have had nothing but good Bitcode Prime experiences.

As a result, the exchange has high USD liquidity, while offering extensive orders and trading options, and is the largest BTC exchange in terms of traded volume.

However, Bitcode Prime has courted controversy on several occasions and is not a very transparent company. After learning of its history, some potential users may be put off by any security concerns, although the exchange has repaid all losses from its 2016 hack.

With that in mind, we recommend anyone using Bitcode Prime to keep only a small balance in their exchange account at all times, make sure you withdraw your currencies to your own wallet, and take advantage of all the security features available to you on the site.

Overall, I would not recommend Bitcode Prime to beginners because of the high minimum deposit, but traders with intermediate to advanced skills can use Bitcode Prime without any problems.