A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of BitPrime consists of four parts: general information, fees, deposit methods and security.
BitPrime’s domicile country is New Zealand. On its website, BitPrime refers to themselves as “fast secure cryptocurrency retailer”. They also proudly state that they are owned by New Zealanders and operates in New Zealand. There are also a few other exchanges operating in New Zealand, such as NZBCX.
One quick clarification should be made here though: BitPrime is not an exchange per se. They do not connect buyers with sellers. Rather, they buy and sell their own coins. So they are in a sense much more like a “crypto-shop”. They explain the process like this:
So, do they accept US-investors? Nope. If you are a US-investor and want to trade at BitPrime, you’re out of luck and have to look at one of the other top crypto exchanges instead. Use our Exchange Finder to find an exchange accepting US-investors.
BitPrime Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, there is only a search function and then an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the initial purchase interface (i.e., the search function) at BitPrime:
BitPrime Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being carried out. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by giving the makers of that liquidity a fee discount.
At BitPrime, you don't pay taker or maker fees, but you pay the so called spread. The spread is 2.90% for trades with a value between USD 100 and USD 20,000, and a bit lower (2.00%) for trades with a value between USD 20,000 and USD 50,000, as set out below:
BitPrime Withdrawal fees
According to our information BitPrime does not charge any withdrawal fees.
BitPrime offers wire transfer as a deposit method, but you can’t deposit via credit card.
BitPrime’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges. But, it should be clearly noted there that the score in such test is only one of many indicators of an exchange’s security and should not be taken as conclusive evidence that an exchange is secure or insecure.
The exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: