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Review of Prime XBT (2024)

The Prime XBT cryptocurrency exchange is a multi-asset trading platform that enables trades in cryptocurrencies, stock indices, commodities, and foreign currencies.

Based in Seychelles, Prime XBT offers its services to customers throughout the world except for about 14 countries worldwide. Some of its most outstanding features include its top-notch security, excellent trading interface, and the availability of copy trading and margin trading. However, while Prime XBT only accepts crypto deposits and withdrawals, its crypto trading options are limited to a few supported cryptocurrencies.

Granted, the exchange offers margin trading for multiple assets, and on various order types which is good, but compared to rivals, its options are not enough to make it the best option for professional traders in the crypto space or traditional finance.

Overall, PrimeXBT is an ideal solution for expert investors who need access to a multi-asset exchange with margin trading among other features such as copy-trading for passive income generation. However, it features several restrictions that can be a deal-breaker for most traders.

Here is an in-depth review to help you figure out if Prime XBT is a fit for your needs.

Prime XBT Overview

Prime XBT

Prime XBT

  • Covesting gives users the ability to copy successful traders
  • Trade on international markets using Bitcoin, Tether or Ethereum
  • Support for staking cryptocurrencies and earning up to 10% APY
  • Crypto, S&P 500, Gold, Forex and commodities with a single account
Funding Methods Crypto only
Cryptocurrencies 7 total (BTC, ETH, USDT, USDC, etc.)
Fees 0.01% to .05%

Prime XBT Pros & Cons


  • Integrated with Trading View’s analysis tools

  • Offers leverage trading up to 100X

  • Features an intuitive user interface

  • Features copy trading and low trading fee


  • Restricted in the US, Canada, and Japan among other 12 countries

  • Only a relatively small amount of supported cryptocurrencies

  • Limited trading options for crypto-traders

Prime XBT Overview

PrimeXBT was founded in 2018 by a team of skilled developers and entrepreneurs with a wealth of experience in finance and trading system development.

The team has since partnered with institutions such as BitfuryCrystal and Covesting to bring to fruition the vision of providing clients with the best digital asset trading platform.

The exchange features a clean and modern design which makes it user-friendly for both beginner and expert traders with availability on both mobile and desktop devices for ease of use. It also boasts of an ultra-fast trade execution below 7.12 milliseconds.

PrimeXBT offers its services to its customers worldwide except for about 14 countries. Some of the restricted countries include Canada, Ecuador, Iran, Syria, Israel, Japan, France, North Korea, and the United States of America.

User Interface

Like every other exchange, the first thing you notice about Prime XBT’s interface is the intuitive design that makes it easy even for beginners to get around and start using the platform.

The exchange comes with an interface designed for easy navigation, thus making it easy to customize your trading chart to suit your specific needs. With PrimeXBT, you can also practice your trading strategies thanks to a demo mode that allows beginners to trade with fake money.

What’s more the exchange comes with a mobile app that is supported on both Android and iOS devices for easy access. PrimeXBT’s trading process is also fairly straightforward compared to other exchange platforms.

The exchange operates on a model that lets you place short or long positions with your orders matched to liquidity providers as opposed to an order matching engine model. This facilitates high-frequency trading with fast order execution, not to mention reliable and constant access to sufficient liquidity.

Prime XBT offers a number of benefits

Prime XBT Leverage Trading

You can access up to 100 times leverage on crypto trades and up to 1000 times on stocks and commodities while trading on Prime XBT. Leveraged trading is trading on debt. It is also known as margin trading, where your deposit acts as collateral for the debt you receive to trade with.

The funds you borrow from the leverage trading platform as is the case with Prime XBT are used to enter larger positions that give you bigger profits on your trades. It is however important to note that leverage trading is highly risky since your entire position can be liquidated if your trades turn sour.

The good news is that Prime XBT offers a platform to practice your leverage trades with fake funds before deploying your strategies with real funds.

TradingView Access

Avid traders need sophisticated technical analysis tools often found on TradingView (a website that offers all the necessary technical analysis tools, charts, and indicators for all sorts of assets).

Prime XBT features easy access to TradingView’s popular indicators such as the moving average indicators, the RSI (relative strength index) indicator, and even the Bolinger Bangs, among others.

Simply put, there are over 50 tools you can access with TradingView through PrimeXBT’s platform for in-depth market analysis and predictions.

Prime XBT’s Turbo

Turbo is Prime XBT’s latest feature and enables users to place bets and predict price movements of various assets such as Bitcoin with the chance to earn up to 90% of correct prediction. To get the best of this feature on Prime XBT, you can predict the short-term price movements of assets such as Oil, S&P 500, Bitcoin, or Gold.

As expected, wrong predictions lead to a loss of the pledged amount. Also, there is a set duration your prediction can last with each asset. A crypto prediction can last from 5 to 15 minutes, Forex prediction can last from 1 minute to 5 minutes, and EUR/ USD predictions can be set as low as 30 seconds.


The concept of covesting is all about traders sharing ideas and strategies that help out other traders in the platform’s community. Novice traders can copy the trades of expert traders, and the expert traders get compensation depending on the viability of their strategies.

Prime XBT deploys the same feature on its exchange platform, where users are allowed to mimic the portfolios and trading strategies of top traders. This allows expert traders on Prime XBT to make passive profits from other traders who follow their trades. The minimum amount of personal funds you need to launch a covesting account on Prime XBT is set at 0.05BTC, 2,500 USDC, 1.25 ETh, or 2,500 USDT.

The covesting feature on Prime XBT is enabled by Covesting which is a cryptocurrency project built around the idea of converting to enable a DLT (decentralized ledger technology) service for exchanges that want to deploy the copy trade feature to their platform.

Setting up a PrimeXBT Account

Signing up for a PrimeXBt account is extremely easy. Once you visit the sign-up page, you will need to do the following.

Step 1: Enter account credentials, including an email and password. You can also provide a phone number. Finish by accepting the terms and conditions.

Step 2: Verify your registration with a 4-digit pin that you will receive in your email.

Step3: Proceed to open your account and make a deposit.

Depositing Funds to Your PrimeXBT Account

Depositing funds to your PrimeXBT wallet is a bit different than what you will find on most crypto exchanges since the platform does not support any forms of direct bank transfers or deposits through credit or debit cards.

You will need a cryptocurrency supported by PrimeXBT to deposit funds. PrimeXBT comes with five separate wallets embedded within the exchange, with each wallet designated for a cryptocurrency supported on the exchange. The cryptocurrencies you can deposit on the exchange include;

  • Bitcoin BTC
  • Tether USDT
  • Ethereum ETH
  • USD Coin (USDC)
  • Covesting COV

You can make your deposits directly from a personal crypto wallet or via a third-party service that allows you to buy crypto through a bank deposit such as, Coinify. Paxful or Xanpool.

What Cryptocurrencies Are Available on PrimeXBT?

PrimeXBT supports only 7 cryptocurrency trading pairs including Bitcoin, Tether USDT, Litecoin, EOS, Ripple, and Ethereum. Compared to most crypto exchanges, this is one of the lowest numbers of supported crypto assets on an exchange platform. Top crypto exchanges usually support over 100 cryptocurrency trading pairs.

PrimeXBT’s Supported Devices

Prime XBT is supported on both desktop and mobile devices, with availability on both Android and iOS devices.

Is PrimeXBT Safe?

Yes, PrimeXBT is safe.

The exchange platform implements some of the best security measures such as cold storage, SSL encryption, 2FA authentication, and a multi-layered cybersecurity framework. The website uses a 256-bit SSL certificate for encrypting sensitive data that passes through its servers.

All passwords are encrypted with a unique algorithm called a bcrypt hashing function. With servers hosted on Amazon Web Services, PrimeXBT boasts a proven track record of industry-leading security. In addition, PrimeXBT conducts ongoing IT security assessments to check for emerging vulnerabilities.

Does PrimeXBT have Good Customer Support?

PrimeXBT provides a pretty in-depth help center with access to all the FAQs about its platform available to its customers.

There are several active channels to access the PrimeXBT customer support service, including a Facebook page, a Telegram group, a Twitter handle, and even an email live chat option which is active 24/7.

PrimeXBT Frequently Asked Questions

PrimeXBT is a fast, safe and reliable exchange that features top-notch security features. It offers a platform for high-frequency trading with leverage as well as access to a variety of derivative trading options.

PrimeXBT is not accessible in the US. The website does not explain why its services are not available in the US and other 14 jurisdictions.

PrimeXBT allows withdrawal through cryptocurrency wallets.

Prime XBT does charge small transaction fees but other than that the service is free.

Yes. Prime XBT offers exposure to crypto staking so users can earn up to 10% APY, which is generally paid out on a daily basis.

Jinia Shawdagor

About the Author

Jinia Shawdagor

Jinia is a fintech writer based in Sweden focused on the cryptocurrency market and blockchain industry. With years of experience, she contributes to some of the most renowned crypto publications such as Cointelegraph, Invezz and others. She also has experience writing about the iGaming industry.

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