This PrimeBit review explores the broker’s cryptocurrency-focused derivatives offering, platform structure, and trading features. PrimeBit is a peer-to-peer (P2P) crypto derivatives exchange offering perpetual contracts with up to 200x leverage, catering to traders seeking transparent, margin-based trading without a central counterparty.

Regulation and Safety

PrimeBit is registered in Saint Vincent and the Grenadines under registration number 25332 BC 2019. It is not licensed by any Tier-1 financial regulator such as the FCA, ASIC, or CFTC. As such, there is no investor compensation scheme, and client protection measures are limited. However, the exchange uses cold wallet storage for crypto deposits and applies industry-standard encryption protocols to protect client data.

Execution Model and Trading Platforms

PrimeBit operates a decentralized peer-to-peer (P2P) model where users trade against each other, with the platform acting as an intermediary for order matching. The broker offers:

• PrimeBit Web Trader – browser-based interface with advanced order types
• MetaTrader 5 (MT5) – desktop and mobile (Android/iOS)

All contracts are settled in Bitcoin (BTC), with no fiat onboarding or withdrawal. The MT5 platform supports leveraged trading, trailing stops, and multiple timeframes. FIX API is not available.

Markets and Instruments

PrimeBit provides a focused set of cryptocurrency perpetual contracts:

• BTC/USD – Perpetual swap with up to 200x leverage
• ETH/USD – Up to 100x leverage
• LTC/USD – Up to 100x leverage
• XRP/USD – Up to 100x leverage
• ETH/BTC and LTC/BTC – crypto-to-crypto pairs

All trades are linear perpetual contracts with no expiry and BTC-settlement. No traditional forex, stocks, indices, or commodities are offered.

Accounts, Spreads and Leverage

PrimeBit offers a single account type with the following trading conditions:

• No KYC required (email only)
• Spreads depend on peer liquidity and volatility
• Leverage up to 200x (BTC/USD); up to 100x on altcoins
• Minimum trade size: 0.001 contracts
• Fees: 0.05% taker, -0.025% maker rebate

Funding rates apply every 8 hours for open positions. Stop-out levels are based on margin ratio, and liquidation occurs automatically below maintenance margin thresholds.

Funding and Base Currencies

All deposits, withdrawals, and balances are denominated in Bitcoin (BTC). The platform does not support fiat currencies or stablecoins. Payment methods include:

• Bitcoin wallet deposits (on-chain)

Deposits are confirmed after 1 blockchain confirmation. Withdrawals are processed multiple times daily and require manual confirmation. No deposit or withdrawal fees are charged by PrimeBit, but network fees apply.

Client Protections and Features

Despite the lack of regulatory oversight, PrimeBit includes several user-focused protections:

• Cold wallet storage for majority of funds
• Two-factor authentication (2FA)
• Email confirmation for withdrawals
• Transparent P2P matching with public order book
• No KYC required (privacy-preserving)

Institutional and Retail Offering

PrimeBit is designed for crypto-savvy retail traders and offers no institutional products. There are no white-label, prime brokerage, or liquidity aggregation services. The MT5 terminal supports algorithmic trading but is limited to the crypto contracts offered by the exchange. No FIX API or server co-location is available.

Pros

• High leverage up to 200x on BTC/USD
• Supports MT5 and proprietary web trader
• Peer-to-peer model with transparent matching
• No KYC required for account creation
• Maker rebates and competitive fees

Cons

• Unregulated offshore entity
• Crypto-only – no fiat or stablecoin support
• Limited asset range (crypto only)
• No institutional tools or advanced APIs

Frequently Asked Questions

Is PrimeBit regulated?

No, PrimeBit is registered in Saint Vincent and the Grenadines and is not regulated by any financial authority.

What cryptocurrencies can I trade on PrimeBit?

You can trade BTC/USD, ETH/USD, LTC/USD, XRP/USD, ETH/BTC, and LTC/BTC perpetual contracts.

What is the maximum leverage on PrimeBit?

Leverage goes up to 200x on BTC/USD and 100x on altcoin pairs like ETH/USD and LTC/USD.

Is KYC required to use PrimeBit?

No, PrimeBit does not require KYC. Users can trade with just an email registration and BTC deposit.

Does PrimeBit support fiat deposits?

No, all deposits and withdrawals are conducted in Bitcoin. Fiat currencies are not accepted.