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PrimeXBT Debuts Polkadot Trading, Adds Other New Crypto Assets

Price Predictions
Sat, 09/18/2021 - 11:00
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Kim Chua
PrimeXBT Lists Polkadot And Other Popular Crypto Assets
PrimeXBT Debuts Polkadot Trading, Adds Other New Crypto Assets
Cover image via U.Today

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As the entire cryptocurrency and blockchain industry expands, the need to interconnect each individual ecosystem to interoperate with one another is increasing. Thus Polkadot was created, promising to enable cross-blockchain transfers of any type of data or asset, not just crypto tokens.

Since the start of 2021, Polkadot (DOT) has outperformed even Bitcoin – the top cryptocurrency by market cap – with a nearly 500% ROI. The substantial returns have caught the attention of traders across the globe and have prompted PrimeXBT to list the asset alongside six other new altcoins.

Here is the complete list of assets, along with why Polkadot could be the most significant of the bunch.

PrimeXBT Reveals Listing Of Seven New Crypto Altcoins

Revealed as part of a press release focusing on new asset listings, PrimeXBT has added Polkadot, in addition to Solana, Cardano, Dogecoin, Uniswap, Chainlink, and XRP. These altcoins were added as part of ongoing expansion plans and a continued effort to supply users of the platform with a wide range of portfolio diversification options. Plus, PrimeXBT and partner Covesting are always pushing industry innovation forward with each new compelling feature added. 

DOT, SOL, ADA, DOGE, UNI, LINK, and XRP are all available to trade using BTC, ETH, USDT, and USDC-based margin accounts, with up to 1:20 leverage. Covesting strategy manager accounts must adhere to a max of 1:10 for added safety for followers due to how volatile these altcoins can be. But that very volatility brings strategy managers and followers both much more opportunity than ever before. 

Volatility is why these altcoins are also so sought out by traders across the trading community. However, that isn’t the only reason. These crypto assets are the crypto tokens to some of the most interesting new technologies the crypto industry has seen since the last market cycle.

Putting The Spotlight On Polkadot: The Parachain Platform and DOT

Polkadot focuses on three key pillars: security, scalability, and innovation. It also boasts some of the best tokenomics around. 

Ease of development has also helped support the fast growth of the network. Developers can easily create custom blockchains using the Substrate framework or connect a chain for cross-chain operability. 

Polkadot is constantly evolving and able to be upgraded without the need for hard forks. This makes implementing bug fixes or critical changes and updates that bolster future performance a breeze. A highly sophisticated governance system gives token holders a way to vote, ensuring any upgrades to the network reflect the desires of the overall community that matters most.

The protocol was designed by Ethereum co-founder Gavin Wood, and like Ethereum, utilizes a proof-of-stake consensus algorithm. The DOT governance token can also be used for staking to secure the network or to bond new chains. By staking DOT tokens and contributing to the network, a user can receive DOT tokens as a reward.

According to the official website, “as the network grows and more parachains are added,” Polkadot speeds should increase, potentially reaching up to “a million transactions per second.”

Polkadot Momentum Could Only Be Picking Up, Trade Now With PrimeXBT

With so much behind Polkadot for momentum fundamentally, and it being only just the early days for the young blockchain focused on interoperability, DOT prices could continue to soar as price discovery mode rages on. If they do, traders can now go long on DOTUSD and DOTBTC via the award-winning multi-asset trading platform PrimeXBT. Should DOT begin to tumble, traders can trade with the trend and go short using the same trading pairs. 

This type of flexibility is only found on PrimeXBT, which also offers similar synthetic contracts on forex currencies, stock indices, oil, gold, and much more. With some of today’s most fundamentally solid altcoins alongside traditional assets and some of the most advanced features around: personalized service with dedicated account managers, the highest level of asset protection, advanced order types, built-in charting tools and the Covesting copy trading module –  the opportunities are nearly endless. 

The platform is also known for regularly bringing its clients new solutions to critical challenges facing the industry. For example, the upcoming Covesting Yield Accounts will make DeFi much easier to access by removing the need to connect clunky blockchain wallets and simply stake the assets stored within the secure PrimeXBT wallet system.

Stay tuned to the company’s official blog to see what they cook up next.

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About the author

Kim Chua is an institutional trading specialist with a track record of success that extends across leading banks including Deutsche Bank, China Merchants Bank, and more. Chua later launched a hedge fund that consistently achieved triple-digit returns for seven years. Chua is also an educator at heart who developed her own proprietary trading curriculum to pass her knowledge down to a new generation of analysts. Kim Chua actively follows both traditional and cryptocurrency markets closely and is eager to find future investment and trading opportunities as the two vastly different asset classes begin to converge.