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PrimeBit Review

PrimeBit is a cryptocurrency margin trading exchange with several excellent features, such as perpetual trading contracts in BTC, Litecoin, and Ethereum, with up to 200x leverage. Traditional assets like stocks, currency, and commodities are also tradable on the site. 

PrimeBit was founded in 2019, and its headquarters may be found on the beautiful island of Saint Vincent and the Grenadines. Since it is a newcomer in the Bitcoin futures market, the platform has a little history to draw upon. However, the vast majority of comments on the internet about the service have been positive.

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Accepted Countries

PrimeBit is available in most countries across the world. But its services are only available in some countries because security, data security, derivatives trading, and other laws make crypto trading illegal. The United States, Japan, Yemen, Canada, Cuba, Pakistan, etc., are all on the list of nations without funding.

Trading Platform

  • You’ll get access to the MT5 trading platform when you utilize PrimeBit.
  • MetaTrader 5 (MT5) is the most advanced trading platform. It was made as an update to MT4 and is now the best.
  • Regarding trading techniques, programming capabilities, and available options, PrimeBit MT5 has more advanced systems than its competitors.
  • PrimeBit has a more significant number of indicators, chart time frames, and server settings
  •  that the user can change.
  • If you download the PrimeBit app (Web Trader), you can get the PrimeBit Mt5 client.

The PrimeBit Web Trader and the MT5 trading platforms can be used on smartphones like iPhones, iPods, Androids, and other tablets.

Leverage

PrimeBit leverage trade not only offers the most significant 200x leverage available, but it also functions slightly differently than other platforms. PrimeBit is different because your holdings will only be terminated at the liquidated price if you have a negative balance. The risk of losing money due to market fluctuations is lower than its rivals since it does not employ an insurance fund. Since then, PrimeBit has become one of the most trustworthy margin trading platforms.

Available Cryptocurrencies

PrimeBit, a broker for cryptocurrencies, has a web platform where you can trade pairs of cryptocurrencies. Because they are futures contracts, PrimeBit’s cryptocurrency pairings are classified as perpetual contracts. However, these contracts do not have an expiration date.

The following pairs of cryptocurrencies are now available:

  • BTCUSD
  • BTCUSDT
  • ETHUSD
  • ETHUSDT
  • LTCUSD
  • LTCUSDT

PrimeBit Fees

There is no cost for making deposits or withdrawals on Primebit. Primebit charges a network fee according to the volume of the Bitcoin blockchain whenever Bitcoin is withdrawn. In the case of the blockchain, this amount is 0.0005 BTC.

When compared to other crypto exchanges, Primebit’s trading costs are reasonable. Fees for trading Bitcoin, Ethereum, and Litecoin are all calculated using a maker & taker method. Primebit’s decision on the trading charge levied will be based on the kind of order made.

PrimeBit Fees

PrimeBit stores 99 percent of investor cash in offline cold storage for security reasons. Hot storage is only one percent of the entire fund and is utilized to respond to investor withdrawal requests immediately. 

Because PrimeBit’s cold storage is disconnected from the internet, it is safe from any online hacking attempts. PrimeBit further offers rapid processing for investor withdrawals of funds. The security of your funds with PrimeBit may be further investigated at this link. The app PrimeBit makes it easy to monitor your funds.

PrimeBit Regulations

The financial authorities of St. Vincent and the Grenadines have no jurisdiction over the company, even though it is headquartered there. PrimeBit’s status as a no-KYC exchange is a factor. The trader benefits from this arrangement because they don’t have to send in too much paperwork.

Promotions and Rewards

The margin trading broker always thinks of new and exciting ways to encourage trading on their platform and promote its most dedicated traders. If you’re a trader, you should join PrimeBit on Twitter, where the company mainly announces these future events

Customer Service

  • You will find a few user reviews or forum posts about how good PrimeBit’s customer service is, which is to be expected from a cryptocurrency exchange that is still relatively new.
  • The website’s massive collection of lessons and the FAQ portion, sorted by categories, are the first things you can notice when it comes to helping.
  • There is no support desk where you can talk to someone about your problem. PrimeBit’s support team may be reached through email at support@primebit.com, where inquiries are often responded to within a few days.
  • Users of PrimeBit often rely on the company’s social media networks as a primary means of staying informed. 
  • PrimeBit’s tech support is accessible through direct messages on Reddit, Facebook, and Twitter; these platforms are mentioned in the introduction.

Registration

Following these instructions will allow you to create a Primebit account:

  • Go to the site of Primebit, enter your information into the registration form, and validate your account when you are through.
  • Have a conversation with your broker’s advisor, complete the necessary KYC paperwork, and put the deposit into the account.
  • Become comfortable with the trading process using the demo account before moving on to the real thing. After you have gained some familiarity with Primebit, you can switch back to the primary account.
  • Establish your trading criteria, including your stop-loss and other constraints.
  • Choose the auto trading option, and then wait for your initial transactions to be executed.

PrimeBit Pros and Cons

Pros

  • The registration process takes a few seconds to complete.
  • Anyone, regardless of prior experience, can use Primebit Profit.
  • A selection of CFD investments and trading brokers is available.
  • Primebit Profit is available in a variety of locations around the world.
  • Easy-to-navigate user interface
  • Creating an account is quick and straightforward to do.
  • A selection of different trading pairings from which to pick.
  • Contracts that last forever for the cryptocurrencies Bitcoin, Ethereum, and Litecoin
  • Leverage on trade assets of up to 200 times their initial value
  • TradingView provides charting software.
  • Fees for trading that are both competitive and appropriate

Cons

  • In places where CFD trading is not allowed, you can’t use the Primebit Profit platform.
  • Users may need help getting in touch with customer service.
  • One of the least reliable ways to purchase and sell assets is through the use of trading bots.

Conclusion

PrimeBit has established itself as a valuable asset in the trading world. Traders can make significant profits with minimal effort. PrimeBit makes it easier to get into the trading market than day trading, which takes a lot of time and is hard to do. Users have a lot of faith in this organization because of how quickly and effectively they can spot promising investment possibilities and use them.

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