Comparison of Bingx vs Primexbt [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bingx vs Primexbt comparison!

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Primexbt

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,05%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for social trading features.

4.1 – Competitive fees with a focus on leveraged trading.

Level

0,10%

≤0,05%

Brief explanation

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

PrimeXBT structures its commission system to be competitive and transparent, offering traders a clear understanding of the costs associated with their trading activities. The platform primarily charges a flat rate on trades, avoiding the complexity of tiered fee structures seen in some other exchanges. This flat rate is relatively low compared to industry standards, making it an attractive option for both high-volume and casual traders. The trading fees on PrimeXBT vary slightly depending on the market and asset class but are generally around 0.05% per trade for most cryptocurrencies. This is significantly lower than the average fees on other major platforms, which can range up to 0.25%. Additionally, PrimeXBT offers further discounts on trading fees for holders of its native token, reducing costs even more for frequent traders. This straightforward and low-cost fee structure is especially beneficial in a market where margins can be tight and efficiency is key. PrimeXBT’s emphasis on low fees helps maximize traders’ potential profits by minimizing the overhead on each transaction.

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

Primexbt

High Security Standards: PrimeXBT employs an array of security measures, including cold storage of assets, SSL encryption, and two-factor authentication to ensure the safety and security of its users' funds and data.
Advanced Trading Tools: The platform offers advanced trading tools and features, such as customizable charting tools, leverage options, and order types, which are essential for both novice and experienced traders aiming to execute complex trading strategies effectively.
Robust Trading Infrastructure: PrimeXBT boasts a robust trading infrastructure capable of handling significant trading volumes and market volatility, which ensures reliability and speed for its users' trading activities.
Transparent and Competitive Fees: The platform maintains transparency in its fee structure, offering competitive trading and withdrawal fees, which are clearly outlined on their website. This transparency helps build trust among users by ensuring there are no hidden charges.
Reputation and User Reviews: Over the years, PrimeXBT has built a strong reputation within the trading community. Positive reviews and testimonials from users across various forums and review sites highlight the platform's reliability and user-friendly interface.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

PrimeXBT Trading Services

Regulation

Not regulated

Year founded

2018

Founder

Elvisco Carrington

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bingx	FEATURES	Primexbt
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	PrimeXBT allows users to engage in trades with relatively low minimum thresholds, making it accessible for traders with smaller budgets.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	Fees are competitive and transparent, which is favorable for maintaining profitability in frequent trading activities.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Offers a broad range of cryptocurrencies, though not as extensive as the largest exchanges, it covers all major and several minor tokens.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Provides a diverse array of trading pairs, allowing users to directly trade one cryptocurrency for another without converting to fiat.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	The website provides clear information on fees, services, and trading options, contributing to high transparency.
While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users	Credit/Debit Card	PrimeXBT lacks an exchange card, which limits the flexibility for users to directly access their trading profits for everyday expenditures or to enjoy cardholder benefits.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Excellent security measures for storage, including cold storage options for digital assets.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Offers some staking options, but the rewards and variety are less competitive compared to specialized staking platforms.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and offer full trading functionalities.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Provides robust customer support with multiple channels and quick response times, though it can be improved with more direct phone support.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Deposits and withdrawals are streamlined and efficient, though primarily limited to cryptocurrencies which might be a limitation for some users.

Key features

Analysis tools

Trading signals, technical analysis tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Margin trading, futures trading, staking, PrimeXBT Covesting

Anonymity

Yes

Key points

Available cryptocurrencies

50+

Primarily derivatives

User-friendliness

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

PrimeXBT offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for traders.

Provides good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

Ideal for experienced traders interested in advanced trading features and competitive fees.

Base currencies available

USD, BTC, USDT

USD, BTC (for derivative trading)

Account

Trading

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

PrimeXBT focuses on leveraged trading, offering a unique feature for experienced traders. It has a good range of cryptocurrencies and competitive fees but can be risky and complex for beginners.

Deposit and withdrawal

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

PrimeXBT supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, with low fees.

Account opening process

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

PrimeXBT offers a straightforward and user-friendly account registration process. Users need to submit personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

PrimeXBT offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

PrimeXBT employs strong security features like 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

Xavier Tarrasó

As a seasoned analyst at our platform, I’ve closely examined PrimeXBT and here’s my personal take: PrimeXBT stands out primarily for its user-friendly interface and the extensive range of trading tools it offers, making it ideal for traders looking for robust leverage options and a diverse asset portfolio. The platform’s commitment to security is commendable, with comprehensive measures in place to protect user assets and data. Whether you’re just starting out or you’re an experienced trader, PrimeXBT provides a solid foundation for your trading activities with competitive fees and a strong infrastructure. If you’re considering a reliable and versatile trading platform, PrimeXBT is definitely worth your consideration.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.