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Primebit Profit Review 2023

Danny Maiorca
Danny Maiorca
4th Apr 2023
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What Is Primebit Profit?

Primebit Profit is one of many robots online that target inexperienced traders who want to get into the crypto trading market, offering easy functionality for potential profits. Traders can trust Primebit Profit to place trades according to its alleged algorithms, or they can set their own stop-loss limits and ensure the bot only executes their trading strategy. Primebit Profit is available in countries where CFD trading is legal. Unfortunately, traders cannot access Primebit Profit in the USA or Hong Kong.

One of Primebit Profit’s main selling points is that users don’t need to be experts to get started. While this sounds enticing, it does not mean you’ll make easy money. Primebit Profit doesn’t promise huge profits as much as other trading bots, but it is not the ideal way to trade cryptocurrency assets as the homepage would lead you to believe. Remember, no trading bot can accurately predict the market.

Primebit Profit Overview

🤖 Robot Type:Bitcoin Robot
💸 Minimum Deposit:$250
✅ Is It a Scam or Legit?Legit
🚀 Claimed Win Rate:99.8%
💰 Trading Fees:$0
💰 Account Fees:$0
💰 Deposit/Withdrawal Fees:2% commission on withdrawals
💰 Software cost:$0
⌛ Withdrawal Timeframe:24 Hours
💱 Supported Cryptocurrencies:BTC, ETH, XRP, LTC, USDT
📱 Native Mobile App:No
🖥️ Free Demo Account:Yes
🎧 Customer Support:Contact form, Email, Phone
✅ Verification required:KYC
🔁 Automated Trading:Yes
📈 CFD AvailableYes
Table of Contents

Pros And Cons Of Using Primebit Profit

Registration only takes a few moments
No experience is necessary to use Primebit Profit
Various CFD assets and a choice of brokers
Primebit Profit is available in many locations globally
Simple user interface
Primebit Profit is unavailable in countries that don’t allow CFD trading
Users may struggle to contact customer support
Trading bots are one of the most unreliable ways to buy and sell assets

Primebit Profit Markets, Assets, And Options

What Assets And Products Can You Trade Using Primebit Profit?

Primebit Profit has numerous CFD assets available for the most popular cryptocurrencies. Keep in mind; you will not own those underlying coins, just a contract based on their price. Primebit Profit’s CFD options include:

  • Bitcoin (BTC)

  • Litecoin (LTE)

  • Ripple (XRP)

  • Ethereum (ETH)

  • Tether (USDT)

Go to Primebit Profit if you need to see a complete list of assets.

What Leverage Trading Options Are There?

Primebit Profit does not have any margin trading information on its website. Usually, robots like Primebit Profit offer huge leverage options, so users think they can make a huge profit.

Leveraged trading involves brokers providing loans to traders, who then place trades worth more than their initial investment; the trader gives the money back to the broker and keeps the rest when they make a profit. Many brokers offer margin options. However, unregulated brokers usually offer very high leverages that are much riskier.

If you are considering margin trading, make sure you have a workable trading strategy and enough knowledge to make wise traders. Also, only execute leveraged trades with regulated brokers. Their margin percentages will not be as high as trading bots, but you will not end up in as much financial difficulty if your leveraged trades do not pan out. Keep in mind, if a bot is offering huge leverage options, you should not trust them.

What Are The Spreads?

Primebit Profit does not have any information about spreads. However, brokers will offer differing spreads. These figures will change along with cryptocurrency valuations.

Fees, Limits, And Payment Options On Primebit Profit

How Much Does Primebit Profit Cost?

When traders create an account on Primebit Profit, they need to pay $250 as an initial deposit. The robot uses that money to make trades. Traders won’t need to pay membership or subscription fees.

Most regulated brokers will not charge you anything to create an account. We advise caution when signing up to Primebit Profit, as you may not be able to get that money back if you decide you don’t want to make a trade.

What Are The Payment Methods Accepted By Primebit Profit?

Primebit Profit accepts several payment methods, including:

  • Credit card

  • Debit card

  • Bank transfer

We could not find any other information about withdrawal or deposit options. In addition, users cannot make deposits with Venmo or Paypal.

Withdrawals are usually sent to the same bank account attached to your preferred payment. Some credit cards may charge extra fees. Expect your deposit to take a few days to reach your account.

Does Primebit Profit Also Charge Fees And Commissions?

Primebit Profit charges a 2% commission when users make a withdrawal. Users do not need to pay any other fees except the initial deposit when they sign up for an account.

Primebit Profit Trade Sizes And Limits

Primebit Profit does not have any maximum trade limits. The minimum trade limit is $250.

Primebit Profit Platform

How Does Primebit Profit Work?

Primebit Profit reportedly uses algorithms and trading signals to speculate on cryptocurrency values, enticing users with potential profits from short-term trading techniques. Primebit Profit also claims to use AI and machine learning to make the best trades according to the user’s pre-defined strategies; traders can set stop-loss limits or trust Primebit Profit to make profitable trades.

Primebit Profit takes your initial deposit and uses it for your first trade, sending the money to the broker through which you will be doing business. Some of these brokers could be regulated; most will not. This is typical of most trading bots. Users may want to play around on the Primebit Profit demo account before trading with real money.

What Devices Can I Use Primebit Profit On?

Primebit Profit is available on all major browsers. This includes Google Chrome, IE, Firefox, Safari, and more. As such, users can sign in to Primebit Profit on any device that supports these browsers. These devices include:

  • Computer

  • iOS

  • Android

  • Laptop

  • Tablets

Unfortunately, Primebit Profit doesn’t have a native desktop or mobile application.

What Exchanges And Brokers Does Primebit Profit Partner With?

Primebit Profit doesn’t disclose information about brokers on its website. However, most trading bots pair with numerous brokers around the world. We could not find any information on whether Primebit Profit’s partnered brokers are regulated. Contact them directly if you have questions about their regulation status. We recommend only placing trades with regulated brokers.

Can I Use Primebit Profit In My Country?

Primebit Profit operates in any location where trading CFD assets is legal. These include:

  • UK

  • Spain

  • Italy

  • Sweden

Trades cannot use Primebit Profit in Hong Kong or the United States as CFD trading is prohibited in those locations.

Is Primebit Profit Available In My Language?

Primebit Profit is available in many languages. These include:

  • English

  • Arabic

  • Dutch

  • Spanish

Simply choose your preferred language from a menu at the top of the page.

How Easy Is It To Use Primebit Profit?

Primebit Profit, like other trading robots, is intended for new traders. It is very easy to use and does not include any complicated tools or functions. The robot is automated, so traders don’t need to execute trades themselves; simply trust the algorithms the platform promises to rely on. However, users should still set stop-loss limits to try and protect their funds.

Primebit Profit also has a demo trading account, so you can practice on the platform without losing your deposit. This is a great way to get familiar with any trading bot or broker. In addition, Primebit Profit has many charts for the real-time value of popular cryptocurrencies, so you always know how much your assets are worth.

However, while Primebit Profit is easy to use, traders are unlikely to make any money. These bots target inexperienced traders for a reason; they don’t know enough to be cautious. When using a robot, make sure you set your trading parameters and stop-loss limits. However, there’s no way of knowing if the bot is making trades that could potentially make you money or just squandering your funds. If you want to try CFD trading, read around the subject and choose regulated and trustworthy brokers, even if the platform is more complicated.

Key Features

Primebit Profit’s main features include a collection of CFD assets, demo trading options, and automated features.

Different CFD Assets

Primebit Profit lets users trade different contracts for popular cryptocurrency assets. Those assets include Bitcoin, Ethereum, and Litecoin. In addition, users can purchase multiple assets to diversify their portfolios.

Automated Tools And Features

Primebit Profit uses mostly automated tools and functions in a way that attempts to make trading easy for inexperienced users.

Demo Account

As aforementioned, Primebit Profit also has a demo account. Users can log in to the demo account, place trades, and adjust parameters to practice their trading strategy without any risks. Users can access the demo account once they pay the $250 deposit.

Security And Regulation

Is Primebit Profit Legit?

While Primebit Profit does not make as many false promises as other trading bots, we cannot say it is a legitimate trading option.

Firstly, trading bots are notoriously unreliable. Many traders will lose their money after their first trade. In addition, some testimonials and reviews are obviously fake.

We would also suggest staying away from any trading bot or broker that requires a large deposit to create an account. If a platform asks for money before you try the demo account, you should reconsider creating an account in the first place.

Also, we couldn’t confirm whether Primebit Profit makes trades with a chance of earning a profit.

Is Primebit Profit Safe?

Primebit Profit does not have much information about security and privacy. We could not confirm whether information is SSL-encrypted or secure. However, Primebit Profit does share certain information with other parties for their own business practices. If you value confidentiality, you may want to stay away from this trading bot.

Am I And My Money Protected?

Primebit Profit is not responsible for your money’s protection. Funds are sent to your broker, who then holds them in an online wallet. If you’d like to know more about financial security, speak to the broker directly.

Is Primebit Profit Regulated?

Primebit Profit is not regulated in any country.

Do I Have To Verify My Account With Primebit Profit?

Primebit Profit users need to verify their email addresses and complete a KYC form before they can make any trades.

Extra Information

Educational Resources

Primebit Profit doesn’t have any educational resources, such as articles or blogs. However, there is a small FAQ section and some basic trading information on the homepage. If you want to broaden your crypto trading knowledge, many reliable blogs, websites, podcasts, YouTube channels, and magazines are available online.

Tools And Charting

Primebit Profit has various trading instruments for CFD and margin trading. Users can access charts on the latest cryptocurrency values. Most features are automated and reportedly powered by algorithms or AI.

Customer Support

Primebit Profit has a limited customer support service. There is a contact form on the sheet, and you can speak to a broker representative by email or phone. However, once traders deposit funds into their accounts, they have had difficulty contacting Primebit Profit again.

How To Get Started With Primebit Profit

Complete these steps to sign up for a Primebit Profit account.

  1. Head to the Primebit Profit homepage, input your details into the registration form and verify your account.

  2. Speak to your broker advisor, complete the KYC form, and pay your deposit into your account.

  3. Practice trading on the demo account before risking money on the real thing. Once you feel comfortable, switch back to your main Primebit Profit account.

  4. Determine your stop-loss limits and other trading parameters.

  5. Select auto trading and wait for your first trades.

Is there a Primebit Profit alternative?

Yes, there are many more crypto robots available. If you don't want to use Primebit Profit, check out some of our other reviews:

Crypto RobotMinimum DepositRead our review
Bitcoin Edge$250Read our Bitcoin Edge review
Centobot$250Read our Centobot review
Oil Profit$250Read our Oil Profit review

Final Thoughts On Primebit Profit

While Primebit Profit may seem like an easy moneymaker, we cannot recommend it to anybody who wants to try CFD trading. The platform is not transparent or secure. Trading bots are the riskiest way to buy and sell assets, and there’s a good chance you will lose your money.

Also, some traders have been unable to contact Primebit Profit when they had trouble with their accounts. If you encounter any problems, there’s a possibility nobody will help you.

We suggest using more mainstream, regulated brokers. They may offer smaller leverages, but they will be much more secure, protecting your financial and personal information; they also have better educational resources and additional tools.

Author Bio
Danny Maiorca
Danny Maiorca
Danny is a freelance writer specialising in technology and finance. Prior to working for himself, he spent several years working within those sectors in London. Since then, Danny has relocated to Denmark.