Multicurrency accounts and how they work
Updated over a week ago

Multicurrency accounts

On PrimeXBT traders can deposit multiple cryptocurrencies to their corresponding account Wallets. Each currency will have a separate Wallet:

This means that Traders can also have multiple Margin trading accounts and allows Copy-trading Strategy managers and Followers to create and manage multiple Strategies and multiple Followings simultaneously in different currencies:

Each separate Margin account, Copy-trading Strategy and Following will be denominated in the currency initially chosen upon their creation.

Thanks to COV token utility, COV-denominated Margin trading accounts are automatically provided with a 25% trade fees discount.

Examples of multicurrency accounts

I deposit BTC to my BTC Wallet:

I can now create and Follow Strategies, and trade with Margin accounts denominated in BTC:

My Strategies (BTC)

Followings (BTC)

Margin account (BTC)

Accordingly, I will NOT be able to create Strategies, Followings, or Margin accounts in other currencies until I have deposited the corresponding currency:

Each separate currency can be used only in Margin trading accounts, Strategies and Followings denominated in the SAME currency. For example, BTC can be used in a Margin trading account denominated only in BTC, while ETH can be used in a Margin trading account denominated only in ETH.

If you wish to open a Margin trading account, start a Strategy or Following in a particular currency, make sure to deposit the same currency.

Alternatively, using our in-wallet Currency Exchange feature allows you to exchange BTC, ETH, USDT, USDC and COV amongst each other, directly between your PrimeXBT account Wallets.

To learn how to create and switch between your Margin accounts, see our tutorial: How to create and manage Margin accounts.

To learn how to create and manage multiple Copy-trading Strategies see our tutorial: How to create your Strategy.

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