PrimeBit Discount – Bonus Code
PrimeBit discount FAQ
Receiving the discount
Do i need to enter a PrimeBit bonus code or coupon to use the PrimeBit discount?
No, in this case no promo code is needed.
How do I receive the discount without a bonus code?
There are just a few simple steps to get the discount.
- Click on one of our links to PrimeBit and you will see a “promo code used” note, like in the picture above.
- Click on “Register now” and verify your email.
- Provide a password.
- The reduced fee has been added automatically to your account.
- Trade!
How much discount do I get?
10%
What is this discount for?
It is a taker fee discount.
>> Click here to get your Bonus on PrimeBit <<
PrimeBit discount requirements
What details do I have to provide to get the discount?
- Password
Do I need to verify my email?
Yes.
>> Click here to get your Bonus on PrimeBit <<
More info about PrimeBit
What are the experiences with PrimeBit and how does the test compare to other crypto derivative brokers? This page provides the answers to one of the most interesting crypto derivative brokers on the market. Prospective traders can thus obtain comprehensive information about the offer before registering.
PrimeBit is a new crypto derivative exchange that is very easy to use. The special feature of PrimeBit is that it offers customers a peer-to-peer trading platform. This means that PrimeBit, unlike many crypto exchanges, does not act as a counterparty. Instead, PrimeBit creates a platform on which traders can establish peer-to-peer connections with a leverage of up to 200x.
Registering with PrimeBit is also incredibly easy and takes just a few minutes! In this article we want to take a closer look at the advantages and disadvantages of peer-to-peer trading of cryptos and what the PrimeBit platform also offers.
What exactly is behind the offer and what are the chances of success? These questions and more will be dealt with in the following PrimeBit test. In addition, the test deals with various areas that are important for trading on online exchanges. Only after a detailed analysis of the offer can it be said at the end whether the trading programme is recommendable or not.
Advantages
- Lever up to 200x
- MetaTrade 5 Trading Software
- No minimum deposit
- Demo account
- Very transparent
- Lucrative partner programme
Disadvantages
- (still) No official licence
- Support has no live chat function
- Deposit only in Bitcoin
What is PrimeBit?
PrimeBit was founded in 2019 and is located on the exotic island of Saint Vincent and the Grenadines. As a relatively new player in the Bitcoin derivatives market, the exchange has not yet had a long track record of success. However, the general online feedback on the service has been very positive so far.
As with most unregulated exchanges, PrimeBit is not open to US traders due to the active US Securities Act of 1933.
PrimeBit also does not accept citizens and residents:
Canada, Japan, Algeria, Afghanistan, Bahamas, Botswana, Cambodia, Cuba, Ecuador, Ethiopia, Ghana, Iran, Iraq, Myanmar, North Korea, Pakistan, Serbia, Sri Lanka, South Sudan, Sudan, Syria, Tunisia, Trinidad and Tobago and Yemen.
Nevertheless, the representatives of the Exchange have stated that its legal staff is working around the clock to meet the necessary legal requirements.
Apart from that, it can be helpful to know that the PrimeBit platform is available in 12 languages: English, Polish, Spanish, Turkish, Portuguese, Japanese, German, Chinese, Russian, Vietnamese, Thai and Korean.
Service
What makes the new crypto derivatives broker so special? It facilitates peer-to-peer trading with crypto derivatives. PrimeBit is a broker for crypto derivatives that offers a service that can be compared to a stock exchange like BitMEX. Instead of trading with the actual token, PrimeBit customers can trade contracts that derive their value from Bitcoin, Ethereum and Litecoin.
You can deposit Bitcoin in your PrimeBit wallet and then trade on the exchange. PrimeBit also offers its customers a fully-featured demo account, which is great for traders who want to practice before making real trades with Bitcoin.
The three contracts offered by PrimeBit at the time of writing are
- BTC / USD
- ETH / USD
- LTC / USD
As PrimeBit is still a relatively new crypto exchange, the number of contracts it will offer to its customers is likely to increase over time.
PrimeBit: The best features at a glance
- Up to 200x leverage
A very high leverage for the action of Kryptos - P2P trading
Fair direct trading with other users - MetaTrader 5
Modern desktop and web application for trading - No expiry dates
Trade unlimited contracts without limiting your profit - Transparent price overview
Easy to understand pricing model with linear returns - Fully functional demo account
Test your skills before you trade with real money - Lucrative partner programme
Transparent affiliate tool with up to 20% share of sales
The advantages of Peer-to-Peer Trading
Peer to Peer Network As already mentioned, trading at PrimeOne takes place on a peer-to-peer basis. But what exactly does this mean and what are the advantages and disadvantages?
Indeed, peer-to-peer trading has some advantages over the use of a traditional exchange, which acts both as a counterparty and a market maker. If an exchange is both counterparty and market maker, there is a risk that the exchange will use the price fixing mechanism to its advantage.
In the world of Contract for Difference (CFD) trading, there are numerous allegations against CFD brokers that they use their own pricing capabilities to make money on client positions.
However, if your broker is not the counterparty, this type of market manipulation is simply not possible, as the broker makes money only by facilitating trades. With PrimeBit another trader is the counterparty and makes profits or losses. PrimeBit therefore only earns money in the form of fees for creating the trade structure.
This type of platform is also suitable for traders who want to use crypto derivatives to generate income from their Bitcoin holdings. As traders on the PrimeBit platform receive (or have to pay) financing fees every eight hours.
PrimeBit fees
Of course, a stock exchange like PrimeBit still has to earn money. It does this by creating the trading structure. As mentioned above, PrimeBit earns its money with the maker fees and does not take over any part of the financing fees, which have to be paid every eight hours.
The trading platform of PrimeBit
The trading platform created by PrimeBit is available via the online interface and the industry-standard MT5 trading terminal. As soon as you open and load an account with PrimeBit, you can start opening trades via the online platform.
MetaTrader 5
PrimeBit only accepts deposits in BTC. Deposits and withdrawals should generally be made very quickly. Some crypto exchanges use their own trading platform, but this is not always the best way. Trading on crypto markets is no different from other markets, especially when derivatives are used. PrimeBit decided to use the well developed MT5 trading platform.
- The MT5 platform has charting tools that allow you to analyse the markets and also works with a number of third party applications.
- MT5 is a solid trading platform with many useful features, such as integrated trailing stop loss orders.
- If you use PrimeBit, you don’t have to worry about using a new, untested trading interface that has been built from scratch.
Mobile trading with PrimeBit - MT5 AppFor the MT5 trading platform there is of course also an Android and an iOS app for mobile devices. If you want to monitor your trades on the move, an app is the best choice.
- The MT5 app has been rated over 160,000 times in the Android Store and has a rating of over 4 stars. So you can definitely trust the app.
- The mobile app offers many features that you can also find in the desktop app. It is also relatively easy to navigate within the app.
- The app itself works great on both operating systems and offers a lot of interesting and useful features.
Customer service at PrimeBit
Customer Service PrimeBitCustomer service is the often overlooked requirement that can enhance or compromise your experience with a stock exchange or broker. Therefore it is a really important criterion for us. We decided to test customer support on PrimeBit to see how quickly they responded to our requests.
If you would like to contact PrimeBit Support, you will find a live chat option at the bottom right of the website. However, this is more of a FAQ area and an e-mail form. Unfortunately PrimeBit does not offer a real live chat.
Nevertheless, we have tested the ticket option and asked PrimeBit’s customer service some complicated and technical questions. The surprise? Not even 2 hours later we already received an answer. This is actually quite impressive, as other brokers often take much longer to answer questions.
By the way, if your question is rather simple, you can always have a look at the FAQs (Frquently Asked Questions). These are quite comprehensive at PrimeBit.
Conclusion
PrimeBit brings some great ideas to the crypto derivatives market. The peer-to-peer structure of the exchange addresses the potential for problems that exist when a broker is both the counterparty and the market maker. PrimeBit has also established a robust pricing mechanism to prevent price manipulation on its exchange.
PrimeBit is also very easy to use and allows almost anyone who has BTC in their wallet to trade leveraged crypto derivatives. The fact that PrimeBit only allows deposits and withdrawals with BTC may be a disadvantage for some traders, but it is not difficult to obtain BTC these days.
All in all, PrimeBit is a great broker if you are interested in trading BTC, ETH or LTC on a leveraged basis. We expect PrimeBit to expand its range of crypto currencies over time to attract more customers. The only real disadvantage of PrimeBit is the age of the company. The service is still relatively new and it will take time for the broker to build a track record for its clients.