platform was shut down on December 31, 2024.
Primebit's official website shows ">"Primebit closed on December 31, 2024. If you have any questions, please contact us at support@primebit.com
"business profile
PRIMEBIT LIMITED is a company founded on January 17, 2018, headquartered in Dagenham, UK, with the specific address at 83 Wantz Road, postal code RM10 8PS. The company's registered capital has not been publicly disclosed. PrimeBit is a P2P cryptocurrency trading platform offering perpetual contract trading services with up to 200x leverage, but it closed its operations on December 31, 2024. The company is not regulated by any major regulatory authority and has been warned as an unauthorized platform by the Spanish Securities Market Commission (CNMV). Information such as key executive backgrounds, advisory teams, membership in industry associations, corporate structure, shareholding structure, and compliance statements is not disclosed.
regulatory information
PrimeBit is not licensed or certified by any major regulatory authority. The platform was once listed as an unauthorized trading platform by the Spanish Securities Market Commission (CNMV) and was deemed a scam by some sources (such as FinTelegram) and blacklisted. The platform does not provide any regulatory license information during operation, lacking transparency and compliance.
trading products
PrimeBit offers perpetual contract trading, supporting BTCUSD, ETHUSD, LTCUSD and other varieties, with leverage of up to 200x and no expiration date. Trading fees are low, with a maker rate of -0.025% and a taker rate of 0.075%. The platform also supports MetaTrader 5 trading tools, making it available for both PC and mobile devices.
trading software
PrimeBit supports the MetaTrader 5 (MT5) trading platform, which is available for both PC and mobile devices. MT5 offers advanced trading tools and chart analysis capabilities, making it suitable for experienced traders.
deposit and withdrawal methods
PrimeBit Only Bitcoin (BTC) deposits are supported, with no minimum deposit limit. The withdrawal method also only supports Bitcoin, and the specific fees are not disclosed.
customer support
Customer support is available through the support widget on the website or by sending an email directly to the support team's email address. User feedback indicates that the quality of support is uneven and the response time is slow.
core business and services
PrimeBit's core business is to provide a P2P cryptocurrency trading platform, focusing on perpetual contract trading, supporting mainstream cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The service is aimed at cryptocurrency traders, especially those seeking high leverage and high risk and high reward. The platform's pricing mechanism is based on market prices, with maker and taker fees. The risk control system includes a P2P trading model, and the platform may have fair trading and anti-manipulation measures, but the specific details are not disclosed. The liquidation mode is margin trading of perpetual contracts, marked to the market according to the market price. The operating model is a centralized exchange, facilitating P2P trading.
technical infrastructure
PrimeBit may employ secure cold storage protocols, keeping most of its cryptocurrency in offline wallets to prevent hacking. The platform supports MetaTrader 5, providing efficient trade execution and analysis tools.
compliance and risk control system
PrimeBit is not regulated by any major regulatory authority and lacks compliance guarantees. The platform claims to have fair price marking and transparency, but specific compliance measures are unknown due to unregulated practices. The platform has faced criticism for security concerns and user fund issues, suggesting that its risk management may be inadequate.
market positioning and competitive advantage
PrimeBit positions itself as a P2P platform offering high-leverage, non-expiration perpetual contract trading, appealing to traders seeking high-risk, high-reward trading. Competitive advantages include high leverage (200x), transparency and fairness in the P2P model, and support for MetaTrader 5.
