Daily Withdrawal Limit
PrimeXBT Withdrawal Fees
PrimeXBT Withdrawal Fees Discount
Possible, personal discounts
Proof of Reserves
PrimeXBT Exchange KYC and AML
PrimeXBT Restricted Countries
United States of America, the province of Québec in Canada, Algeria, Ecuador, Ethiopia, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan
PrimeXBT is a crypto exchange registered in the Seychelles. Out of the exchanges listed in our Exchange List, only a few others have their registration there (e.g. BitMEX, BitForex and Huobi). However, the crypto market is truly global in its nature and as such the locality of the exchanges doesn’t matter that much to the users.
PrimeXBT is a cryptocurrency derivatives exchange. That means that you can essentially choose between two things: going long or going short. Going long means that you bet that a particular cryptocurrency will go up in price, and going short means that you bet that a particular cryptocurrency will go down in price. See more about the nature of this type of trading below under Leveraged Trading.
The exchange emphasizes a number of advantages with its platform on its website. For one, you can create an account here anonymously and the exchange requires no personal information. Also, the exchange has a multilevel security system which they argue is industry-leading. You can also do leveraged trading with up to 100x (more on that below).
On the date of first writing this review (2 February 2019), PrimeXBT informed that they had a 24 hour trading volume of almost USD 60 million. This is indeed a decent liquidity. On the date of last updating this review (17 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume had increased more than 20 times to USD 1.33 billion. This is a remarkable improvement and USD 1.33 billion is really an absolute world-class trading volume, not far from BitMEX at all.
PrimeXBT offers leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain crypto’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD if you simply held Bitcoin. Now, as you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, there is potential for huge upside but also for huge downside…
This picture from PrimeXBT’s website has another useful way of showing the benefits of leveraged trading in a bull market:
According to info we have received directly from the exchange, US-investors are not permitted to trade here. However, they are permitted to take advantage of the affiliate program (see more about the affiliate program below under the Affiliate Program).
PrimeXBT Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at PrimeXBT:
Turbo trade :
Different exchanges have different options for option trade even few top exchanges not have a website view. but comparing other tab trade its best we can get up to 65% profit within 10 min. I just tried 1 st trade and got profit with little amount of BTC
— 𝕋𝕒𝕞𝕚𝕝₿𝕋ℂ 𝔾𝕝𝕠𝕓𝕒𝕝™🇮🇳 (@tamilbtc) June 4, 2020
PrimeXBT also has a lucrative affiliate program, with four different tiers. This means that you not only make revenue from the people you refer directly, but also from their referrals’ referrals’ referrals! The below picture explains a little bit more clearly how it works:
Classic CPA offers are also available. If you own a website, a YouTube channel, have a newsletter or some other marketing channel, you can earn as an affiliate via a Profit Share or CPA scheme. Join it now here (http://my.primexbt.com/signup?ref=1360)
PrimeXBT Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a very low flat fee: 0.05% per trade. This is indeed a competitive fee. The majority of exchanges offering derivatives trading actually charge 0.075% in taker fees. So, PrimeXBT has slashed a third of the industry average taker fee for crypto derivatives exchanges.
PrimeXBT Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn). It varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is 0.000812 BTC when you withdraw BTC. PrimeXBT only charges you 0.0005 BTC. Accordingly, their BTC-withdrawal fee is approx. 40% lower than the global industry average.
At PrimeBTX, you can’t deposit via wire transfer but credit card deposits are perfectly fine. As credit card deposits are accepted, PrimeXBT qualifies as an “entry-level exchange”.
However, if you for some reason need to deposit fiat currency via wire transfer, you can find one by using our Exchange Finder.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security.
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