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Review on PrimeBit by Ibraheem Asmau

PrimeBit, Prime Exchange

Accepted in almost every nation of the world, PrimeBit works on a peer-to-peer network that seeks to make trading of cryptocurrencies and digital assets easier and much more faster. Personal Encounter with PrimeBit: Like all other exchanges that I have come across with the help of Revain, I gave PrimeBit a try in order to give my feedback to the Revain Community. PrimeBit like any other exchange provides a platform where traders can sell and buy cryptocurrencies(in this case it's Bitcoin, Litecoin, Ethereum and Tether). Registration was very fast and simplified for any user either an Expert or even a beginner, only my email and password. After all that there was a verification email sent to me, then I verified my account and I was ready to trade my Bitcoin and Ethereum. The web page is well outlined and easy to navigate through, thus means the user interface is very interactive and intuitive enough to be understood by anyone. It was very interesting trading on this exchange because of the amazing speed and ease of transaction, while I was trading my coins on this platform I was actually amazed at the speed at which PrimeBit completed my transactions. This is a very good trading platform. The only form of payment and deposit is via cryptocurrencies which in this case is Bitcoin, this is a major disadvantage of PrimeBit. After I funded my account I went straight to enabling the two factor authentication. Adopting the two factor authentication system by PrimeBit is a very nice and innovative idea, this will ensure that users funds are well kept and secured. The trading fees on this exchange might be the lowest among crypto exchanges globally, but the fees charged here is very competitive hence PrimeBit is a very liquid exchange. Liquidity offered by this exchange goes a long way in fetching good and handsome profits for investors. I enjoyed trading on this exchange because of the availability of leverage trading, introduction of this leverage trading as an option will lead to an increase in the number of users and investors. With the use of the two factor authentication and storing user's funds offline, PrimeBit assures users of the security. There are several means of contacting the support team but I chose the email as his was the most convenient for me. The best way to trade on this exchange is via a desktop device as this will provide a wider sense of view. PrimeBit exchange needs to be brought to the spot light and also needs to be patronised by other investors like I have also done.

Pros & cons

  • Fast transaction time on PrimeBit
  • The fees charged here are relatively low and affordable
  • Users can trade with the demo account available
  • This Exchange has an intelligent interface
  • Most of users funds are stored in cold storages
  • This Exchange is unregulated for now
Ibraheem Asmau
January 03, 2021
PrimeBit boasts of fast transactions with the ever reliable customer support. I am actually skeptical about this exchange as it is unregulated so there is possibility that the exchange might be closed and eventually disappear with users funds