PrimeBit Cryptocurrency Broker Service Review. Invest in Crypto perpetual contracts on PrimeBit MT5 with 1:200 high leverage.
Transfer Bitcoin or Tether to invest in Cryptocurrency pairs on PrimeBit Web Trader and MT5.
- What is PrimeBit?
- Summary of PrimeBit’s Service Conditions
- Why invest in Cryptocurrency market with PrimeBit?
- Trading Account Types of PrimeBit
- Fund Deposit and Withdrawal with PrimeBit
- How you are protected by PrimeBit from risks
- Transparency with Market Depth and Order Book
- PrimeBit MT5 (MetaTrader5) trading platform
- What you can invest with PrimeBit?
What is PrimeBit?
PrimeBit is a Cryptocurrenncy Exchagne broker.
By signing up with PrimeBit, you can invest in the following Cryptocurrency pairs: BTCUSD, BTCUSDT, ETHUSD, ETHUSDT, LTCUSD and LTCUSDT.
You can transfer Bitcoin (BTC) or Tether (USDT) to start investing online with PrimeBit.
PrimeBit’s Web Trader and MT5 provides you with perpetual contracts of the Cryptocurrency pairs.
With 1:200 high leverage, easy to use platforms and convenient conditions such as Auto-Deleveraging (ADL) system and negative balance protection, PrimeBit provides you a great opportunity to use Bitcoin and Tether to invest online.
To open an account with PrimeBit and start trading, all you need is your email address and PrimeBit does not require any personal information or account verification.
Summary of PrimeBit’s Service Conditions
PrimeBit isn’t a traditional Forex, CFD and Cryptocurrency broker.
We have summarized the service conditions of PrimeBit below.
|Available Financial Instruments||BTCUSD, BTCUSDT, ETHUSD, ETHUSDT, LTCUSD and LTCUSDT|
|Available Cryptocurrency with PrimeBit||Bitcoin, Tether, Ethereum, Litecoin|
|Trading Platforms||PrimeBit Web Trader (App) and MT5 (MetaTrader5)|
|Accepted Deposit Currency||Bitcoin (BTC) and Tether (USDT)|
|Negative Balance Protection (NBP)||Applicable|
|Required Minimum Deposit Amount||None|
|Withdrawal Fee||0.0001 BTC|
|Fund Safety with PrimeBit||Offline Cold Storage for 99% of fund|
|Trading of Forex and CFDs||Not available|
|Mobile Trading||Fully Compatible|
Note that PrimeBit accepts only Bitcoin and Tether deposit, but fiat currencies such as USD, EUR and GBP are not accepted.
In order to start trading with PrimeBit, all you need is your email address and fund to invest with.
Go too the registration page from below to get started.
Why invest in Cryptocurrency market with PrimeBit?
PrimeBit is a new innovative Cryptocurrency broker which differentiate the service from other brokers.
Why you should choose PrimeBit as your broker to invest in Cryptocurrency market?
We have picked up some of the reasons for investors below.
- Invest in Perpetual Contract with PrimeBit
The Cryptocurrency pairs that you can trade on PrimeBit Web Trader and MT5 are of perpetual contract, thus there is no expiration date for these financial instruments.
- PrimeBit offers up to 1:200
Trading of Cryptocurrency pairs are often available with low leverage, but PrimeBit has achieved to offer them with high leverage up to 1:200.
- No Minimum Deposit to start trading
PrimeBit does not set the minimum requirement for deposit, so you can transfer any amount of Bitcoin and Tether to start investing online.
- Low Cost of trading and funding
PrimeBit does not charge commissions for deposit. For trading, the cost is only the spread with no extra commission. For fund withdrawals, the fee is only 0.0001 BTC.
- 99% Offline Cold Storage
PrimeBit keeps 99% of the total funds in the Cold Storage which is offline and eliminates the possibility of hacking attacks.
- Open up to 5 live trading accounts
PrimeBit allows you to open up to 5 live trading accounts and 5 demo trading accounts. You can diversify your strategies on one platform.
- No documents required
PrimeBit does not require any documents of personal information from investors to start trading. All you need is your email address and Bitcoin or Tether to invest.
- Mobile Trading anytime and anywhere
With PrimeBit, you can start investing through mobile phones (Android, iPhone, iPad and Tablet) using PrimeBit’s web-based app and web trader.
- PrimeBit MT5 trading platform
To trade Cryptocurrency pairs, you can use PrimeBit’s Web Trader and MT5 trading platforms. The same login for both platforms to get started.
- No restrictions of EAs (Expert Advisers)
PrimeBit does not have restrictions in terms of trading strategies on the platforms. You can run any types of EAs on PrimeBit MT5, built by MQL5 programming language.
PrimeBit differentiates itself from other brokers with the above service conditions.
Visit PrimeBit Official Website today to find out more and use your Bitcoin or Tether (USDT) to invest onnine.
Trading Account Types of PrimeBit
There are mainly 6 different account types of PrimeBit.
Note that you can hold up to 5 live accounts and 5 demo accounts with PrimeBit at the same time.
The summary and comparison of PrimeBit’s account types are as below.
|Contract type||Simplified perpetual contract||Quanto perpetual contract||Quanto perpetual contract||Perpetual contract||Perpetual contract||Perpetual contract|
|$1 price change value||0.0001 BTC||0.0001 BTC||0.0001 BTC||1 USDT||1 USDT||1 USDT|
|Settlement||No expiration||No expiration||No expiration||No expiration||No expiration||No expiration|
|Reference price||BTCUSD spot index||ETHUSD spot index||LTCUSD spot index||BTCUSDT spot index||ETHUSDT spot index||LTCUSDT spot index|
|Spot index constituents||Bitstamp, Coinbase, Kraken, Gemini||Bitstamp, Coinbase, Kraken, Gemini||Bitstamp, Coinbase, Kraken, Gemini||Binance, Bitfinex, Huobi, Kraken, OKEx, Poloniex||Binance, Bitfinex, Huobi, Kraken, OKEx, Poloniex||Binance, Bitfinex, Huobi, Kraken, OKEx, Poloniex|
|Spot index weighting||Equal weighted||Equal weighted||Equal weighted||Equal weighted||Equal weighted||Equal weighted|
|Funding interval||Every 8 hours||Every 8 hours||Every 8 hours||Every 8 hours||Every 8 hours||Every 8 hours|
|Minimum contract size||0.0001 BTC||0.005 BTC||0.01 BTC||0.0001 BTC||0.005 ETH||0.01 LTC|
|Liquidation reference||Fair price||Fair price||Fair price||Fair price||Fair price||Fair price|
|Contract loss mechanism||Auto-Deleveraging system||Auto-Deleveraging system||Auto-Deleveraging system||Auto-Deleveraging system||Auto-Deleveraging system||Auto-Deleveraging system|
With PrimeBit, you an open up to 5 live trading accounts.
Register your email address from below to get started.
For more information about the account verification with PrimeBit, visit the page here.
Fund Deposit and Withdrawal with PrimeBit
PrimeBit accepts only Bitcoin (BTC) and Tether (USDT) as deposit currencies.
To start trading Cryptocurrency pairs with PrimeBit, you can transfer your Bitcoin and Tether to the designated address specified by PrimeBit on the app.
Normally deposits and withdrawals are processed instantly by PrimeBit after 1 confirmation in the blockchain.
As a safety measure, PrimeBit keeps 99% of investors’ funds in offline cold storage which technically eliminates the risk of attacks by hackers.
The condition of fund deposit and withdrawal with PrimeBit is summarized in the table below.
|Required Minimum Deposit Amount||None|
|Fees for Bitcoin and Tether deposit||None|
|Fees for Bitcoin and Tether withdrawal||0.0001 BTC|
|Deposit Processing Time||1 Blcokchain Confirmation (usually a few minutes)|
|Withdrawal Processing Time||Instant|
Do you have Bitcoin or Tether, then transfer them to start trading Cryptocurrency pairs with PrimeBit.
Is my fund safe with PrimeBit?
To protect investors’ funds, PrimeBit keeps 99% of investors’ funds in the offline cold storage.
Only 1% of the total fund is kept in the hot storage which is used to respond to investors’ withdrawal requests instantly.
PrimeBit’s cold storage is offline and isn’t connected online, thus protecting itself from any possible hacking attacks.
PrimeBit also processes investors’ fund withdrawals instantly.
For more information about the fund safety with PrimeBit, visit the page here.
You can manage your funds on PrimeBit’s app (web trader) simply.
How you are protected by PrimeBit from risks?
PrimeBit takes multiple measures to protect investors’ from possible risks.
PrimeBit does not support the concept of Insurance Fund, but has Auto-Deleveraging (ADL) system.
PrimeBit’s Auto-Deleveraging (ADL) system gets triggered when there is no enough margin in your accounts to support your open positions.
PrimeBit’s stop out is at 50% of the margin level, and once the stop out (liquidation) is triggered, you will be provided with the best price possible.
In case the volatility is high, PrimeBit also supports negative balance protection (NBP).
Transparency with Market Depth and Order Book
PrimeBit especially focuses on the transparency of the markets and order books.
PrimeBit has transparent order books for all Cryptocurrency pairs, and you can also refer to Market Depth in real time to see how other traders are placing orders.
As an investor of PrimeBit, you can also use the MT5 (MetaTrader5) trading platform, and PrimeBit MT5 also support the Market Depth.
PrimeBit refers its liquidity from multiple Crypocurrency exchanges.
On PrimeBit Web Trader and MT5, you can always know how deep each market is.
PrimeBit MT5 (MetaTrader5) trading platform
With PrimeBit, you can use MT5 (MetaTrader5) trading platform.
MT5 is the advanced trading platform, developed after MT4 the most popular trading platform in the world.
PrimeBit MT5 has more advanced systems in terms of trading tools, programming possibilities and options.
PrimeBit has more custom indicators, chart time frames and flexible server settings too.
PrimeBit Mt5 can be downloaded directly from PrimeBit’s App (Web Trader).
Both PrimeBit Web Trader and MT5 are compatible with mobile phones such as Android, iPhone, iPad and Tablet.
What you can invest with PrimeBit?
PrimeBit is an online Cryptocurrency broker where you can trade Cryptocurrency pairs (perpetual contract).
The perpetual contract means the PrimeBit’s Cryptocurrency pairs are futures contract but without expiration date.
The available Cryptocurrency pairs are:
- BTCUSD (Bitcoin vs USD)
- BTCUSDT (Bitcoin vs Tether)
- ETHUSD (Ethereum vs USD)
- ETHUSDT (Ethereum vs Tether)
- LTCUSD (Litecoin vs USD)
- LTCUSDT (Litecoin vs Tether)
Refer to this FAQ to find out how to start your registration with PrimeBit.
1. What is Perpetual Contract?
Unlike the traditional future contract, the perpetual future contract does not have expiration date.
The contract (order) is literally perpetual and you can keep the orders (open positions) as long as you want.
At the end of the day, the swap points will be calculated and the applicable swap amount will be credited or debited from your account.
PrimeBit has made the trading easier with this type of contract.
This contract type is the same for all account types of PrimeBit.
2. Leverage is up to 1:200
One of PrimeBit’s main averages is the 1:200 high leverage.
Traditionally the leverage is kept low for trading of Cryptocurrency pairs, but PrimeBit has achieved to keep it high as 1:200.
There is no required minimum deposit amount to start trading with PrimeBit, thus you can deposit any amount to start trading.
By utilizing the high leverage 1:200, you can start small to trade Cryptocurrency pairs.
3. Negative Balance Protection
PrimeBit supports NBP (Negative Balance Protection) which guarantees that investors do not lose more than they deposit.
You may not deposit more than you can afford to lose and that’s the first risk management you can do with PrimeBit.
CFD Service. Your capital is at risk.
Disclaimer about leverage:
Leverage is offered based on your knowledge and experience. The leverage /margin requirements may be subject to change as subject of applicable regulation in your country of residence.