PrimeXBT vs BitMEX – What Is Better For Trading?

The number of people investing in cryptocurrencies has risen dramatically in recent years. This is large because cryptocurrencies have seen a huge price increase and many people want to get in on the action. Given the recent spike in interest in bitcoin and other cryptocurrencies, you might be thinking about diving into the world of crypto trading.
PrimeXBT and BitMEX both operate as platforms where buyers and sellers meet to trading their business. Both are being used widely for cryptocurrency exchange. Choosing one over the other is not an easy thing to do as they appear quite similar at first and both provide lots of features to the traders. Here we will talk about their differences so you can decide which one is better for your needs.

PrimeXBT review

Primexbt is a multiple trading platform that allows users to buy, sell, and store cryptocurrencies, Forex, Commodities . It was founded in 2018 and is based in Seychelles. The company has a mobile app and a web trading platform that is available in 12 different languages, you can see more on “Primexbt app for Android and IOS“. For many people, the most enticing thing about Primexbt is the low trading fees. The exchange offers a universal fee of 0.05% per trade. This is much lower than what you’d find at most other exchanges.

primexbt vs bybit exchange

Beyond fees, Primexbt also offers advanced trading features that are not currently available at most other exchanges. These include stop loss and profit-taking orders, as well as pending orders (which are orders that are placed but do not execute immediately).

Bitmex review

Bitmex is a trading platform that is used by investors to get access to the global financial market using Bitcoin and other cryptocurrencies. Bitmex is owned by HDR global trading limited. Bitmex is established in 2015, and They developed by financial professionals. Bitmex offers supporting tools. one of the unique features of Bitmex is that it provides perpetual contracts.

bitmex vs primexbt

The perpetual contract does not have an expiry. This means that you can hold on to a position for as long as you like.  Another enticing thing about Bitmex is that the registration process is simple to get started.

Let’s comparison between the two exchanges!

Trading fee comparison

The trading fee is very important to consider when trading in the crypto market. If this fee is not an appropriate amount, it can quickly drain your profits. Primexbt charges less fee compared to Bitmex. PrimeXBT charges 0.05% on all trades for any crypto pair you are trading. This fee is the same for buyers and sellers.

Whereas in Bitmex, the maker rebate is 0.01% and the taker fee is 0.075%. PrimeXBT is a clear winner here as it offers a low trading fee as compared to Bitmex.

Product offerings comparison

With Primexbt, you can trade in BTCUS, ETHUSD, LTCUSD, EOSUSD, EOSBTC, and LTCBTC. Whereas Bitmex allows trading in perpetual future, traditional futures which have an expiry, and Quanto futures.

primexbt vs bitmex exchange

Bitmex supports trading in all major cryptocurrencies including Bitcoin, Doge, XPR, LTC, BNB, ADA, etc. In terms of crypto pairs, Bitmex seems more than Primexbt.

We also compare many exchanges with Primexbt such as Bybit, Binance, Coinbase you can follow in the following articles.

Leverage and trade size of Primexbt and Bitmex

Bitmex offers 100x leverage only for bitcoin whereas, with Primxbt, you can get 100x leverage on all the five cryptocurrencies.

Primexbt has a smaller minimum trade size which makes it excellent for newbies. Bitmex has a higher maximum trade size than Primexbt

Trading platform comparison

When we compare Primexbt and Bitmex based on trading platforms, PrimeXBT is ahead of BitMEX. Bitmex has only one type of UI for all whereas Primexbt provides customizable trading.

Tools and indicators

Bitmex has fewer indicators and charting tools as compared to PrimeXBT which has free charting tools and indicators for an accurate technical analysis.

Show Orders

Primexbt and Bitmex both show their order. However, Bitmex orderare sluggish and unresponsive at times. This is a huge drawback of Bitmex as an error while the submission is a serious thing that needs to be considered. On the other hand, Primexbt order are simple and they can handle high-pressure margin tradings easily.

Account opening process

The account opening process in Primexbt is simple. you can create your account very easily and start trading by adding a deposit to your account. However, the account operating process in Bitmex is a bit complicated when comparing it to Primexbt.

Deposit limit

Bitmex does not have a fixed deposit limit whereas Primexbt requires you to deposit 0.001 worth of bitcoin to get started.

Security features

It’s very important to consider the security features of a trading platform. Bitmex provides two-factor authentication to protest your account. Primexbt security features incorporate a grand cyber-security structure, and it is excellent in protecting your assets. Regular security checks and inspections are carried out to see whether their security is according to their regulations. Primexbt also employs two-factor authentication.

Customer support

Both trading platforms provide excellent customer support however, Primexbt provides its customers 24/7 support throughout the week whereas BitMEX provides customer support only on weekdays.

Liquidity

Bitmex is a winner in the trading field but it must be taken into account that Bitmex is operating in the crypto world for more than five years whereas Primexbt is here for only three years.

Conclusion:

It depends on what your specific needs are. PrimeXBT has a very user-friendly interface and is easy to operate along with advanced tools. It also has lower fees, higher trading volume, and supports a wider variety of coins. However, it has a weak slate of trading pairs.

Primexbt can be a good choice for those who want to trade in multiple currencies as it offers to trade in USD, EUR, and GBP. Bitmex can be a good choice for those who want to trade in large quantities.

 

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