The cryptocurrency industry is evolving faster than the blink of an eye, with new projects launching daily, old projects coming to fruition, and industry leaders making critical changes for the betterment of the greater cryptocurrency and trading community.
The award-winning CFD trading platform PrimeXBT recently added new multi-currency accounts, letting traders utilize margin accounts based on ETH, USDC, and USDT, alongside the BTC-based contracts that the platform built its reputation on.
Here’s why the company says it made such a move and why the changes are a huge benefit to traders whether they realize it or not.
Why Stablecoins Surprisingly Are The Stand Out Of The Update
At first glance, it might seem that all that has happened was that PrimeXBT had expanded its margin accounts to include Ethereum and stablecoins, but there’s so much more both at the surface and under the hood.
But even more important than the new features themselves, the addition of stablecoins is rather revolutionary for the platform in terms of overall risk management for users. In the past, traders who relied on the ultra-fast trading infrastructure to profit from BTC-based CFDs on forex, crypto, commodities, stock indices, and more, were subject to extreme market volatility due to Bitcoin being the sole account base currency.
PrimeXBT says by introducing stablecoins Tether (USDT) and USD Coin (USDC), traders can benefit from a base account currency and capital that doesn’t fluctuate significantly due to market conditions. This makes any expected PnL and position planning …
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