Comparison of Primexbt vs Bit [ 2024 ]

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

Your expert: Alejandro Borja

Primexbt

Your expert: Xavier Tarrasó

Bit

Main points

Fees

≤0,05%

Earns

Customer service

3/5

0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Competitive fees with a focus on leveraged trading.

3.6 – Reasonable fees but higher for certain advanced trading options.

Level

≤0,05%

0.07%/0.04%

Brief explanation

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.

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

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.

Bit

Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

PrimeXBT Trading Services

Unknown

Regulation

Not regulated

Regulation not specified

Year founded

2018

Unknown

Founder

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Primexbt	FEATURES	Bit
PrimeXBT allows users to engage in trades with relatively low minimum thresholds, making it accessible for traders with smaller budgets.	Minimum Trade	Allows small minimum trades, accessible for those looking to start with modest amounts.
Fees are competitive and transparent, which is favorable for maintaining profitability in frequent trading activities.	Trading and Transaction Fees	Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Offers a broad range of cryptocurrencies, though not as extensive as the largest exchanges, it covers all major and several minor tokens.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Provides a diverse array of trading pairs, allowing users to directly trade one cryptocurrency for another without converting to fiat.	Crypto-to-Crypto Trading Pairs	Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
The website provides clear information on fees, services, and trading options, contributing to high transparency.	Website Transparency	The website provides clear and detailed information about fees, policies, and trading options.
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.	Credit/Debit Card	Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Excellent security measures for storage, including cold storage options for digital assets.	Storage Offering	High-level security storage solutions including cold storage options to protect user assets.
Offers some staking options, but the rewards and variety are less competitive compared to specialized staking platforms.	Staking and Rewards	Offers staking options but with limited rewards compared to leading competitors.
Both mobile and desktop platforms are highly user-friendly and offer full trading functionalities.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Provides robust customer support with multiple channels and quick response times, though it can be improved with more direct phone support.	Customer Service	Customer service is available, but response times can vary, impacting user experience during peak times.
Deposits and withdrawals are streamlined and efficient, though primarily limited to cryptocurrencies which might be a limitation for some users.	Deposit and Withdraw	Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, PrimeXBT Covesting

Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives

30+

User-friendliness

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.

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.

Value for money

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

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Base currencies available

USD, BTC (for derivative trading)

JPY, USD, EUR, BTC

Account

Trading

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.

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.

Deposit and withdrawal

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

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.

Account opening process

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.

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.

KYC required?

Yes

Customer Service

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.

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Security

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.

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

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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.

Comparison of Primexbt vs Bit [ 2024 ]

Primexbt

Bit

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Primexbt

Bit

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Primexbt and Bit