PrimeXBT vs ByBit: Crypto, Fees, KYC Exchanges Difference

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.


primexbt

ByBit

Type of exchange

Сentralized

Сentralized

Year founded

2018

 2018

Registration country

Seychelles

Singapore

Trust Score (Coingecko)

10

10

Cryptocurrencies / trading pairs

46

188

Trading types

Spot, Futures, Margin trading, P2P

Spot, Futures, Margin trading, P2P

Fees

0.05%

Taker Fee: 0.075%

Maker Fee: 0.025%

2FA

Yes

Yes

Mobile application

IOS, Android

IOS, Android

Daily trading volume on Spot market

$124 507 018 

$8 808 244 873

Advantages and disadvantages of PrimeXBT

Pros:

  • Low commissions for both makers and takers
  • A lot of attention is paid to security
  • Higher leverage (up to 1000x)
  • A four-level referral system that allows you to create a full-fledged business and receive passive income
  • 24-hour support service
  • Technical analysis tools

Cons:

  • There is no information about the manual
  • No API

PrimeXBT Review Summary 

83% Overall

We have analyzed key features of PrimeXBT based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
83%
Trustworthy
81%
Usability
86%
Fees

Advantages and disadvantages of ByBit

Pros:

  • Low commissions
  • High leverage for margin trading - up to 100x
  • KYC is not required
  • Simple user-friendly interface
  • IEO marketplace, working by subscription mechanism, like on Binance
  • Its own coin - BIT

Cons:

  • Little liquidity

ByBit Review Summary 

91% Overall

We have analyzed key features of ByBit based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
89%
Trustworthy
93%
Usability
92%
Fees

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: 

  • Copy-trading
  • Academy
  • Refer&Earn

ByBit offers:

  • Passive income: stacking, deposits, dual investments, etc.
  • IEO-platform
  • Rewards, bonuses, referral program
  • NFT Marketplace

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:

  • Crediting a fiat account with a card or payment system
  • Purchase from a card
  • Direct transfer of cryptocurrency to the exchange address

Comparison of Trading Fees

PrimeXBT:

  • 0.01% maker trading fee
  • 0.05% taker fee

ByBit:

  • Taker Fee: 0.075%
  • Maker Fee: 0.025%

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.

Disclaimer:

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.

Other Exchanges comparison

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.

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