PrimeBit is one year old now. Over the last 12 months, we have gathered a lot of feedback as we grew organically to 35k active accounts. Our engineers and UX specialists fix all the issues on the fly. However, most of the comments we get are positive, as we offer easy-to-understand linear cryptocurrency contracts, P2P trading, and the highest optional maximum leverage of up to 200x across the board. Unlike BitMEX we don’t run controversial “insurance fund”, and don’t perform mandatory ID checks for our users.
PrimeBit is a free-to-use peer to peer trading platform. We offer fully functional demo accounts and live accounts with no minimum deposits. When you BUY or SELL a cryptocurrency contract we are never a side of the trade. You exchange contracts with other members of the community. PrimeBit provides the software, the process, and liquidity. We make money on fees that are just a small fraction of the order.
After a year of gathering feedback and experience, we decided to adjust our business model. We reduce the taker fee by from 0.075% to 0.05%. You pay the taker fee when you “pick up” a contract from the Order Book. The new fees will apply as of September 3, 2020.
Other users are opening pending orders, where they specify the size of a BUY or SELL contract and a price they want. These prices are below the current market price for BUY and above for SELL orders.
When you add liquidity to the market and add your offers to the “Order book”, you pay a much lower maker fee that’s just 0.02% of the contract value. To add an order to the Order Book “Limit” for your order “Type”, type in quantity, and set the price you want.
We are updating the fees for BTCUSD, BTCUSDT, ETHUSD, ETHUSDT, LTCUSD, LTCUSDT trading pairs.
Now the best part. The new fees are essential for PrimeBit Affiliates. Now you get up to 30% of both taker and maker fees generated by the trading accounts created after clicking your referral links.
Remember, you can always check the PrimeBit contracts specs here.