Building a portfolio with the new assets of PrimeXBT step by step | Local News I Racine County Eye


This month, PrimeXBT announced the launch of seven new altcoin assets, each of which has the potential to add even more reward to an already profitable investment portfolio, while potentially reducing risk.

Such a portfolio is only possible on an award winning platform such as PrimeXBT due to the wide variety of trading instruments available from a single account, all under one roof.

Here is a step by step guide to building a successful portfolio with PrimeXBT.

What is portfolio diversification?

Portfolio diversification involves allocating capital and positions across a number of assets and markets, with the aim of reducing overall risk and improving the chances of success. Investors and traders are less susceptible to losses associated with poor performance of an asset with a diversified portfolio.

Granted, this causes the same investors and traders to miss the occasional reward of going all-in on a winner, but loss prevention is more crucial to capital growth than successful trades.

Portfolio diversification can also be used strategically by taking positions in uncorrelated or uncorrelated sectors. For example, crypto investors and traders should also consider gold and silver for the same reasons they love Bitcoin and Litecoin. In this scenario, adding reliable and more stable assets alongside highly volatile speculative assets can help limit the risk of a crypto-heavy wallet.

In the reward example, simply by accessing all the advantages of stock index trading, forex, oil, gas, gold, silver and crypto currencies as part of a highly diversified portfolio, traders can make sure they never miss the action no matter what market or industry it is in .

The last way PrimeXBT traders can diversify their portfolio is to open long and short positions, even simultaneously on one of the more than 50 trading instruments offered on the advanced trading platform. This allows traders to create hedging positions when signals seem mixed or the market takes a sudden and unexpected turn.

PrimeXBT Adds New Diversity Possibilities With Seven Altcoins

PrimeXBT includes:

  • All major forex currency pairs, as well as minor and exotic currencies.
  • The best stock indexes like the S&P 500, the Nasdaq and the FTSE.
  • Commodities such as oil, gas, gold and silver.
  • Bitcoin, Ethereum, Litecoin and EOS cryptocurrencies.

But recently, they also added Cardano, Chainlink, Dogecoin, Uniswap, Solana, Polkadot, and XRP to the already star-studded lineup. The seven cryptocurrencies represent some of the most influential technologies in the blockchain industry and the best performing financial assets of recent years.

Most parts included on the listing outperformed Bitcoin 500% or more in many cases. In fact, almost all altcoins beat Bitcoin in 2021, proving why portfolio diversification is a must, regardless of asset class. Mixing asset classes is an even better way to spread risk, in particular.

How to build a portfolio with PrimeXBT

To get started with PrimeXBT, visit the award winning trading platform directly by typing in the website URL in the Internet browser of your choice – desktop or mobile. Bookmark this page and respect this link to avoid any infringement.

Then sign up with an email address, location, and very little more. Confirm an email address and sign in. Once logged into the easy to use interface, it is possible to make a deposit directly from the main account section. Deposits can be made with no minimum in BTC, ETH, USDT and USDC. The same section can also be used for withdrawals and to exchange one base margin currency for another for margin trading.

With a funded margin account, visiting the margins section allows traders to tackle the markets with long and short positions, stop losses, profit orders and more. But, before a trader takes this step, an optional but suggested pit stop in the analysis section is possible with TradingView’s built-in charting software.

With support and resistance drawn and targets measured, traders can find much more success when they are long or short, regardless of the asset. Now this is where the fun begins. With over 50 different trading pairs to choose from, a portfolio can begin to be built.

Mix traditional markets with digital assets and all new Altcoins

When it comes to specific strategies on how to build a portfolio, it ultimately depends on the individual and the assets they are interested in and the research they have done. Adding traditional assets to a crypto-heavy wallet is one way to reduce risk, or adding digital assets to an index-focused portfolio might spice things up a bit.

For traders who are only interested in crypto, diversity is always possible with the latest new altcoins. While traditional investors and traders still struggle to touch Bitcoin, Litecoin, and Ethereum, those who have been using these assets for a while may start to occupy certain positions for these riskier but more profitable altcoins.

PrimeXBT also offers a very unorthodox way to diversify your portfolio by putting capital behind other more experienced traders through the covesting copy trading module. Covesting allows subscribers to copy strategy manager trades to build a strong portfolio.

By following multiple skilled strategy managers, anyone can hedge against themselves with their own trading portfolio and bet on someone else instead. Going forward, accessing DeFi protocols through Covesting Yield Accounts will offer investors and traders another way to modify it.

Conclusion: Advanced portfolio diversification options from a single account

Managing a portfolio is the next challenge to consider. PrimeXBT offers a free smartphone app for Android and iOS devices so users can stay on top of positions from anywhere in the world, wherever they go, anytime.

24/7 live customer support chat is also always available, along with a personalized experience with a dedicated account manager. A help center and company blog also offers several tips and guides, as well as useful information for traders to learn more about the brand, the platform and the financial markets.

Are you ready to start building your portfolio with PrimeXBT? The possibilities are endless, as is the potential for profitability.


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