PrimeXBT vs ByBit: Cryptos, Fees Compared

Sooner or later every investor faces the question of choosing a cryptocurrency exchange. In this article we will compare PrimeXBT vs ByBit to find out which exchange is better.

Advantages and disadvantages of PrimeXBT

Advantages and disadvantages of ByBit

About PrimeXBT Exchange

PrimeXBT is an international trading platform, allowing you to trade Forex, commodities, indices and cryptocurrencies from one account. Available for the use of margin leverage up to 1:1000 and the opening of long, short positions. The exchange has a very high level of confidentiality of user data, there is no need to pass the KYC verification.

About ByBit exchange

ByBit is one of the most popular exchanges. ByBit gives users the opportunity to trade cryptocurrency securely. Many other useful features are also available on the exchange.

Comparative analysis of PrimeXBT and ByBit exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

PrimeXBT offers: 

ByBit offers:

Available countries

PrimeXBT and ByBit exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your PrimeXBT and ByBit account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on PrimeXBT and ByBit.

Available Cryptos and Tokens

PrimeXBT currently supports 46 trading pairs.

While ByBit supports 319 trading pairs.

Verification (KYC)

PrimeXBT is known for its anonymity. No verification is required to use all functions.

For access to all functions ByBit exchange requests KYC. A document and selfies are required for verification

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

PrimeXBT:

ByBit:

Account security

PrimeXBT ensures safety of its users' assets by means of the following measures: after each executed order a full check of system risks is performed, digital assets are stored offline by Multisig technology, traffic is protected by SSL-encryption, Cloudfare protects against DDoS and other distributed attacks, a white list of BTC-purses is used, two-factor authentication can be connected to access an account

Bybit has 2FA and anti-phishing code, the cryptocurrency is stored cold, but in general the list of protection measures is good.

Passive earn on exchanges

Open free account at PrimeXBT. The process takes less than 40 seconds. Simply deposit funds, select the amount you want to stake and click “Stake now” button. Sit back and enjoy passive income! You can add or withdraw funds at any time.

Products available at Bybit Earn: Savings - 5-600%, Bi-currency investments - 99-500 %, Liquidity Mining - 0.9-34 %, DeFi mining - 3-17%. 

Which to choose - PrimeXBT or ByBit

We compared two young exchanges created in 2018. PrimeXBT and ByBit turned out to be very similar in functionality. PrimeXBT has the advantage that it does not need to pass KYC. Commissions on exchanges are almost the same.

Disclaimer:

NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Is PrimeXBT a good exchange?

PrimeXBT is a Bitcoin-based margin trading platform that allows users to trade various assets including forex, commodities, indices, and cryptocurrencies. The platform offers a leverage of up to 1000x and has a very user-friendly interface. Overall, PrimeXBT is a great exchange for those looking to trade Bitcoin and other assets with high Leverage.

Is Bybit better than Binance?

There is no one-size-fits-all answer to this question, as the best exchange for you depends on your individual trading needs and preferences. However, we can compare Bybit and Binance side-by-side to see how they stack up in key areas.

Bybit is a cryptocurrency derivatives exchange that offers perpetual contracts with up to 100x leverage. Binance is one of the world's largest cryptocurrency exchanges, offering a wide range of digital assets for trading.

Both exchanges have their strengths and weaknesses, so it's important to evaluate what's important to you before making a decision. For example, if you're looking for maximum leverage, Bybit is the clear choice.

Can you withdraw from PrimeXBT?

Yes. PrimeXBT allows you to withdraw your funds at any time. In order to do so, simply go to the "My Accounts" page and select the "Withdraw" button next to the account you wish to withdraw from. You will then be prompted to enter the amount you wish to withdraw as well as the withdrawal method. Please note that some withdrawal methods may incur a fee.

Is Bybit a good crypto exchange?

Yes, Bybit is a good crypto exchange. It has a strong global presence and offers low fees and great customer support. Additionally, its platform is user-friendly and beginner-friendly. Overall, it's a great choice for those looking for a reliable crypto exchange.

Conclusion

It's hard to compare different crypto exchanges, but both PrimeXBT and ByBit have some pretty similar features so you can choose whoever will provide you the best value. Both PrimeXBT and ByBit are great options for cryptocurrency trading. They tie into the same crypto exchange and have similar fees, so your requirements will guide your decision. For a quality tech support service, it's worth investing in both platforms. The user-friendliness of the interface and the ways you can deposit or withdraw money also play a role. Whatever options you choose, make sure to secure your account as much as possible. One of the safest ways to do this is to turn on 2FA.