PrimeBit Review (Update 2021)

Details

Broker PrimeBit
Website URL https://primebit.com/
Founded 2019
Headquarters St Vincent & Grenadines
Languages English
Trading Platform WebTrader and MetaTrader 5
Minimum 1st Deposit No minimum Deposit
Bonus No KYC, MT5 Trading
Leverage Up to 200X
Free Demo Account Yes
Deposit Methods BTC Wallet
Withdrawal Methods BTC Wallet
Number of Assets 5
Types of Assets Cryptocurrencies
Trading Currency Cryptos
Account Currency BTC
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 72

Pros

  • No KYC Required
  • Stable webTrader platform, & MetaTrader 5
  • Up to200x leverage, low trading Fees
  • fast execution, no requotes
  • 12 languages

Cons

  • New Startup Company without proven quality
  • Unregulated Trading Broker
  • Unknown CEO
  • Few Trading Instruments only based in cryptos

Is PrimeBit a trusted cryptobroker?

Established in April of 2019, PrimeBit is a P2P crypto-products trading platform. In other words,  PrimeBit is another way to trade cryptos with leverage such us BitMex and Bybit.

PrimeBit brand is operated by PrimeBit Ltd, a company registered in Saint Vincent and the Grenadines with Company Registration Number: 25433 BC 2019 located in Griffith Corporate Centre, Beachmont, Kingstown VC0100, Saint Vincent & the Grenadines.

PrimeBit operates under domain https://primebit.com/

 

Sign Up, Deposit and KYC Requirements

  1. It is very easy to sign up to PrimeBIT.
  2. You visit their website through this link, and click the sign up button.
  3. Then you will need just an email account. When you register your email next step is to verify your email and select a password.
  4. That’s it, you are now ready to deposit your account with bitcoins and start trading.

PrimeBit accepts only Bitcoin Deposits. You cannot deposit fiat currencies such as dollars or euros, the only way to deposit is through a bitcoin wallet. If you have bitcoins under your ownership then no problem, you just move them to your PrimeBit trading account! If you dont have bitcoins, then you have first to buy bitcoins in a bitcoin exchange such as Coinbase, Kraken, Gemini, Bitstamp, LocalBitcoins etc.

There is also the option to use a PrimeBit third party affiliate to buy Bitcoins, a service called Match2pay.

Another important fact in PrimeBit is that there is no minimum deposit. You can deposit whatever amount of Bitcoins you like, which is very good for amateur traders.  The company also offers fats withrawls charging just a small fee (Only 0.0001 Bitcoin). In comparison PrimeXBT is charging a 0.0005 Bitcoin Fee, while Evolve Markets charges no fee, but the minimum withdrawal  amount is 0.005BTC.

For now, there are no KYC requirements that apply to PrimeBIT.

You do not have to provide the company your personal ID and other sensitive data such as home address, credit card details, utility bills etc.

However this is going to change in the future. All countries are starting procedures to regulate the crypto market and uncover the real identity of crypto holders. It is obvious that such a huge market cannot stay without surveillance.

 

Platfoms, Trading Experience & Fees

PrimeBit offers 2 platform trading solutions:

  1. PrimeBit WebTrader – An easy-to-trade web platform, suitable for newbies and experienced traders. PrimeBit Web Trader uses the tradingview chart, probably the best online charting package for technical analysis. More or less the platform interface is similar to other cryptobrokers such as PrimeXBT and XBTFX.io. Of course, PrimeBIT Web Trader contains the Trading Risk Management Tools (Limit, Market, Stop Loss etc).
  2. MetaTrader 5 – MT5: MetaTrader 5 is a very famous trading software among Traders. PrimeBit offers MetaTrader 5 platform both in a web browser or a download version. preferable is the download version because of its functionality (Faster, more secure). The MT5 Trading Platform is available on Windows, MacOS as well as on Linux Operating System. MetaTrader 5 Software has great charting tools, such as Fibonacci, trendlines, RSIs, oscillators etc, that take technical analysis at a stage of the art level. Note that MT5 platform accepts Expert Advisors (Automated Trading Software), for traders that want to trade through Software.
  3. PrimeBit Web Apps: For Mobile Trading, PrimeBit offers

 

Summary about PrimeBIT

PrimeBit Review (Update 2021)

  • No KYC Required, only email sign Up
  • Stable webTrader platform, & MetaTrader 5
  • Up to200x leverage, similar trading Fees to Bybit and BitMEX
  • fast execution, no requotes
  • 12 languages
No KYC, MT5 Trading
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Although PrimeBit is a baby startup fintech derivatives exchange company with no proven experience in the market, they manage to provide a stable trading enviroment with WebTrader Platform and MT5 Platform.

PrimeBit sounds a great option for a trader that wants to stay anonymous and use the famous MT5 platform


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