Comparison of Primexbt vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

primeXBT

Primexbt

  • Threenvest valuation: 4,4/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: No
Go exchange

Your expert: Xavier Tarrasó

switchere

Switchere

  • Threenvest valuation: 3/5
  • US legal: Yes
  • Security: High 4/5
  • Mobile App: No
Go exchange

Main points

Fees

≤0,05%

Earns

No

Customer service

3/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.1 – Competitive fees with a focus on leveraged trading.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

≤0,05%
only card 3.60%

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.
Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Primexbt

primeXBT
Go exchange
  • 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.
  • Pros
  • High leverage options
  • Wide range of cryptocurrencies
  • No KYC requirements
  • Cons
  • No fiat trading support
  • Lacks margin trading

Switchere

switchere
Go exchange
  • Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
  • Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
  • Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
  • Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
  • Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.
  • Pros
  • Easy for beginners
  • No registration for small buys
  • Instant card purchases
  • Cons
  • Limited cryptocurrency options
  • Higher transaction fees

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

PrimeXBT Trading Services
Unknown

Regulation

Not regulated
Not regulated

Year founded

2018
2019

Founder

Unknown
Unknown

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Primexbt FEATURES Switchere
PrimeXBT allows users to engage in trades with relatively low minimum thresholds, making it accessible for traders with smaller budgets.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Fees are competitive and transparent, which is favorable for maintaining profitability in frequent trading activities.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
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
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
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
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
The website provides clear information on fees, services, and trading options, contributing to high transparency.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
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
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Excellent security measures for storage, including cold storage options for digital assets.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers some staking options, but the rewards and variety are less competitive compared to specialized staking platforms.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Both mobile and desktop platforms are highly user-friendly and offer full trading functionalities.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Provides robust customer support with multiple channels and quick response times, though it can be improved with more direct phone support.
Customer Service
Generally responsive and helpful, but some users may experience delays 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
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Advanced charting tools, technical analysis
No significant tools, mainly a buying platform

Mobile APP

No
No

Security

High 4,9/5
High 4/5

Additional features

Margin trading, futures trading, staking, PrimeXBT Covesting
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

Primarily derivatives
10+

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.
Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

Ideal for experienced traders interested in advanced trading features and competitive fees.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, BTC (for derivative trading)
EUR, USD, 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.
Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

PrimeXBT supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, with low fees.
Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

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

KYC required?

Yes
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.
Switchere offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

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.
Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

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-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

Read PrimeXBT review

View all comparisons against Primexbt

Read switchere review

View all comparisons against Switchere

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.

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