Trading Platform Analysis: A Head-to-Head Comparison of PrimeXBT and ByBit

During the 2017 crypto bull run, most traders only were privy to spot trading of crypto assets like Bitcoin, Ethereum, and Litecoin. But as the young, emerging market matures, and its most active traders gain more experience and realize their needs have changed, they have begun to seek out more advanced trading platforms that offer profit-generating features like leverage, the ability to go long or short, advanced order types, and more.

With the 2018 bear market now a distant memory, and signs of a new crypto bull run for 2019 just starting to appear, profit season isn’t far behind. With such bullish sentiment returning to the market, choosing the right platform has become more important than ever.

In this comparative study, our team of analysts have outlined the most important features that define PrimeXBT and ByBit – two trading platforms that have been surrounded by much buzz from traders talking of the profits generated in recent Bitcoin rallies.

PrimeXBT Versus ByBit: Important Features Compared

In this section of the study, we compare the features found on both Bitcoin margin trading platforms that are similar across both and are vital to traders daily trading activities.

100x Leverage

Both platforms offer the industry-best leverage offered on crypto assets, at 100x leverage. Both also offer a similar list of crypto assets the 100x leverage can be applied to, including Bitcoin, EOS, Ethereum, and Ripple. PrimeXBT, however, also includes Litecoin and is rumored to be launching new crypto pairs soon.


While most exchanges offer simple spot buying, essentially allowing traders to take a 1x long position, ByBit and PrimeXBT both offer traders the ability to short-sell assets. This provides traders the opportunity to profit during downtrends, as well as uptrends.

Low Fees

The two platforms both offer very low fees, making them appealing for crypto traders.

ByBit splits up its fees across, “maker” and “taker” type fees – which is defined by if the order is “making” liquidity, or “taking” it. For makers, it’s a 0.025% fee while for takers, it’s 0.075%.

PrimeXBT takes a more simplistic approach and meets in the middle for both fees, at only 0.05% across both maker and taker orders.

Trading Engine

ByBit’s claim to fame is due to its ability to handle an extremely large number of transactions that have helped positions itself as an alternative to BitMEX. However, PrimeXBT also offers among the most reliable trading engines on the market.

Originally designed for professionals, PrimeXBT platform has already proven its seamless order execution and low latency during most volatile times on the market –  PrimeXBT stood strong even during a recent flash crash that took out many other trading platforms last week.

The two platforms are very comparable for traders seeking a stable experience and both offer a strong alternative to BitMEX.

Technical Analysis Tools

The two platforms also provide traders with helpful tools for charting, with advanced indicators and more. These helpful tools are built right into the platform, ensuring traders won’t need to leave to perform technical analysis that could lead to more profitable trades.

Customizable Experience

Both platforms allow their users to alter the appearance and layout of the platform dashboard using helpful widgets and toolbars. By giving traders the ability to create a more comfortable and personalized experience, they can achieve greater profitability.

PrimeXBT Versus ByBit: Which Platform Brings The Most Value to Traders?

This section outlines the key features differentiating each platform from one another, to help traders on the fence decide which is right for them.

Multi-Asset Exchange

PrimeXBT already edges out ByBit in cryptocurrencies offered alone, by adding Litecoin in addition to Bitcoin, Ethereum, Ripple, and EOS at 100x leverage. However, PrimeXBT also offers traders exposure to traditional assets for more profit opportunities or for portfolio diversification and risk management.

These additional asset types include Forex, Commodities and the world’s most popular Stock Indices, providing traders on PrimeXBT a greater opportunity to diversify their portfolios compared to ByBit traders.

Variety of Funding Methods

ByBit only allows traders to fund their accounts using the four cryptocurrencies they offer for margin trading: Bitcoin, Ethereum, Ripple, and EOS. Fiat deposits aren’t possible, nor is depositing from other crypto assets.

PrimeXBT, however, accepts Bitcoin deposits, as well as USD, EUR and other fiat currencies, along with other cryptocurrencies through a third-party partner Changelly.

Mobile Trading Experience

While ByBit does offer traders on the go a responsive mobile interface, PrimeXBT users can also trade using the platform’s Android app. The app is available as a free download and offers the full PrimeXBT experience. PrimeXBT officials say that an iOS version is on the way.

Unmatched Referral Program

PrimeXBT has been making waves through its lucrative referral program. It offers four different levels of commissions, for each level of referral. This means customers of PrimeXBT will not only earn on those they refer to the platform but will earn from any additional users the referred user refers themselves. Earnings aren’t capped and range from 20% share of trading fees to 5% for the fourth tier of referrals.

ByBit’s referral program is limited for regular traders, offering a max bonus of between $10 and $50 and requiring a minimum deposit of 0.2 BTC. Their separate affiliate program for brokers and institutions offers commissions similar to what PrimeXBT offers but requires significant capital to be eligible.

PrimeXBT Versus ByBit: Conclusion

ByBit certainly is an attractive platform for traders seeking more from their exchange. Its reliable and fast trading engine is appealing for traders who trade crypto on 100x leverage. It’s not surprising to see ByBit being well-received by the trading community.

PrimeXBT, however, offers all of the benefits ByBit offers, and then some. With more crypto assets to start, potentially more on the way, and a variety of traditional assets like stock indices, commodities, and forex, PrimeXBT has a competitive edge.

The similarity on the surface is apparent, but upon digging deeper and spending ample time on each platform, the differences between the two begin to show. This study was designed to use a comparison of facts to let the trader decide on which is best for them. Whichever they decide, it will ultimately influence their ability to profit from the market, so choosing wisely is advised.

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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