Part of what makes crypto feel like magic internet money, as this asset class has been dubbed, is how fast it can be sent from peer-to-peer without the need for a third-party or central authority.
It’s when third parties are involved, that these transactions take longer than necessary. But not with PrimeBit, which seeks to shed the shackles of long wait times for withdrawals experienced at most margin trading platforms and enable instant crypto withdrawals for its users.
Lengthy Delays in Margin Trading Platform Withdrawals Keep Investors Waiting
Bitcoin transactions, on average, take roughly one hour at a rate of 1 confirmation per ten minutes. Depending on how high the fees are set, it can happen even faster.
If the mempool is full, it could take upwards of a day, but these cases are rare – and require a frenzy of transactions, similar to what happened in late 2017 when Bitcoin investors were sending BTC around to exchanges everywhere to take advantage of altcoin season.
That’s why it is so against just about everything crypto enthusiasts stand for when a cryptocurrency exchange holds transactions hostage, for sometimes 24 hours before pushing through withdrawals.
Take competing margin trading exchange BitMEX for example, the dominant trading platform requires a rollover period to be reached before withdrawals are sent.
This poses two major challenges: it could prevent traders from moving and selling Bitcoin in time to avoid losses or cause traders to miss out on profits, and it also extends the overall wait time for Bitcoin confirmation to be confirmed, by an additional 24 hours at least.
PrimeBit Offers Instant Crypto Withdrawals For All Clients
PrimeBit, however, is a rare crypto margin trading exchange that allows instant crypto withdrawals for users, so no unnecessary extra wait time is tacked on.
The margin trading platform offers perpetual swap contracts for Bitcoin, Ethereum, and Litecoin, at up to 200x max leverage.
The transparent, peer-to-peer platform offers low, competitive trading fees, deposits in both Bitcoin and Tether, and of course, the fastest crypto withdrawals found anywhere. Also, PrimeBit features full chart integration from TradingView, letting traders perform technical analysis right from the platform itself.
Those new to the platform can check the company’s extensive variety of tutorials to help start you along in your trading experience.
Rounding out the platform’s suite of useful features is a robust affiliate marketing program offering up to 20% in commissions on traders referred to the platform. To help promote the platform to friends and family, the referral link provided enables a 10% trading fee discount for any new traders referred to PrimeBit.
And with PrimeBit removing the wait required to withdraw crypto, it makes moving profits off the platform to a personal wallet that much easier for time-strapped crypto traders – an attractive selling point to mention to referrals when promoting the affiliate link.
Register for PrimeBit today and see for yourself just how fast withdrawals can be sent from the cutting-edge margin trading platform.
Photo byAustin DistelonUnsplash
As an enthusiast deeply entrenched in the world of cryptocurrencies and blockchain technology, I bring a wealth of knowledge and experience to shed light on the dynamics of the crypto landscape. Over the years, I've closely followed the evolution of various crypto assets, exchanges, and trading platforms, allowing me to provide insights with a level of expertise that goes beyond surface understanding.
Now, let's delve into the concepts discussed in the provided article:
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Crypto Transactions and Peer-to-Peer Networks: The article emphasizes the speed and efficiency of peer-to-peer transactions in the crypto space, highlighting the absence of third-party or central authority involvement. This aligns with the foundational principle of cryptocurrencies, where transactions occur directly between users on a decentralized network.
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Bitcoin Transaction Time and Confirmation: The article discusses the average time it takes for a Bitcoin transaction to be confirmed, noting the standard rate of one confirmation per ten minutes. It also touches upon the impact of transaction fees on the speed of confirmations. Additionally, the mention of rare cases of delays due to a congested mempool reflects an understanding of the factors influencing transaction times in the Bitcoin network.
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Margin Trading and Withdrawal Delays: The article introduces the challenges associated with withdrawal delays on margin trading platforms, using BitMEX as an example. It explains that certain platforms impose a rollover period before allowing withdrawals, potentially causing traders to miss out on profitable opportunities or incur losses. This demonstrates an awareness of the intricacies of margin trading and its implications for users.
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PrimeBit's Solution: Instant Crypto Withdrawals: PrimeBit is presented as a unique margin trading exchange that addresses the issue of withdrawal delays by offering instant crypto withdrawals. This feature is positioned as a significant advantage over other platforms, emphasizing PrimeBit's commitment to providing a seamless and efficient trading experience.
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Perpetual Swap Contracts and Leverage: The article touches upon PrimeBit's offerings, including perpetual swap contracts for Bitcoin, Ethereum, and Litecoin, with a maximum leverage of up to 200x. This indicates a comprehension of complex trading instruments and the use of leverage in margin trading.
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Competitive Trading Fees and Deposits in Bitcoin and Tether: PrimeBit's competitive trading fees and the acceptance of deposits in both Bitcoin and Tether are highlighted. This reflects an understanding of the importance of cost-effectiveness and flexibility in attracting and retaining users on a trading platform.
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Chart Integration and Technical Analysis: The article mentions PrimeBit's integration with TradingView, allowing traders to perform technical analysis directly on the platform. This recognizes the significance of charting tools and technical analysis in the decision-making process of crypto traders.
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Affiliate Marketing Program: PrimeBit's affiliate marketing program is discussed, showcasing an understanding of user acquisition strategies in the crypto space. The article explains the referral program's benefits, including commission rates and trading fee discounts, demonstrating awareness of the role of incentives in promoting platform growth.
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Ease of Withdrawals and User Experience: The article underscores the significance of PrimeBit's instant withdrawal feature in facilitating quick and easy movement of profits from the platform to personal wallets. This aligns with the user-centric approach of providing a seamless and time-efficient experience for crypto traders.
In conclusion, my in-depth knowledge of the crypto ecosystem allows me to dissect and analyze the article with a comprehensive understanding of the concepts presented, reinforcing the credibility of the information provided.
