PrimeXBT vs Coinbase 2022: Tested & Compared ?

PrimeXBT and Coinbase are some of the ultimate choices of millions of users worldwide. But choosing the supreme exchange that offers all the industry-leading functionalities with superior security yet affordable pricing is essential.

Comparing PrimeXBT and Coinbase is difficult but don’t worry; I am here to compare these prominent exchanges head to head and will make it easy for you to select the one exchange that will fit all your trading needs.

Let’s look at what makes these exchanges so famous.

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PrimeXBT vs Coinbase: Introduction

PrimeXBT

primexbt exchange

PrimeXBT is among the youngest exchanges in the market; that was founded in 2018 but started offering trading services only in early 2019. It is headquartered in Seychelles and provides a wide range of markets, including cryptocurrency, forex, indices and commodities.

 

Coinbase

coinbase

On the other hand, Coinbase was founded in 2012 established to send and receive Bitcoin. Coinbase has a decentralized structure and has no main headquarters. The platform is supported in more than 100 countries with approximately $440 billion in trading volume per quarter and offers up to 3X leverage.

PrimeXBT vs Coinbase: Supported Cryptocurrencies

PrimeXBT

primexbt supported coins

PrimeXBT offers more than 42 crypto trading pairs which can be traded against USD and BTC, including the major ones like Bitcoin, Ethereum, Ripple, Litecoin, USD Coin, Tether, EOS and many more.

 

Coinbase

coinbase supported coins

Coinbase currently supports more than 200 crypto assets which you can refer.  With such a vast crypto collection, there is a high probability that you will find your desired crypto asset on this platform.

 

PrimeXBT vs Coinbase: Product Offerings

PrimeXBT

  • Buy Crypto
  • Crypto Staking
  • Margin Trading
  • Copy-Trading
  • Trading Contests

Coinbase

Coinbase offers a wide range of products for individuals, businesses and developers. Some of the major ones are:

  • Buy Crypto
  • Trading Contests
  • Coinbase Card
  • Derivatives
  • Cash Borrowing
  • Coinbase Wallet

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PrimeXBT vs Coinbase: Order Types

PrimeXBT

  • Market Order
  • Limit Order
  • Stop Order
  • One- Cancels-The-Other (OCO)
  • Take Profit
  • Stop Loss

Coinbase

  • Market Order
  • Limit Order
  • Stop Order
  • Good Till Cancelled (GTC)
  • Immediate or Cancel (IOC)
  • Fill or Kill (FOC)

 

PrimeXBT vs Coinbase: Fees Comparison

PrimeXBT- Margin Trading Fees

The platform charges a fixed 0.05% commission for every crypto trade, no matter which asset you choose. Additionally, PrimeXBT also charges 0.0005 BTC for every withdrawal and an overnight fee if you open a position overnight, which varies from trading pair to pair.

For copy and margin trading, you can refer to the detailed table below:

Minimum deposit
CCY Balance BTC, ETH, USDT, USDC, COV
Assets Crypto 41, FX 50, CFD 14
Spreads from 0
Max leverage 1% (1:100)
Commission From 0,0001%
Execution Market
Execution speed up to 20 ms
Order types Limit, Stop, OCO, Market
Promo Promocodes, Account status
Following No
Following min amount
Following entry fee
COV Utility No

PrimeXBT- Copy Trading Fees

Minimum deposit 0.01 BTC
CCY Balance BTC, ETH, USDT, USDC, COV
Assets Crypto 41, FX 50, CFD 14
Spreads from 0
Max leverage 1% (1:100)
Commission from 0,0001%
Execution Market
Execution speed up to 20 ms
Order types Limit, Stop, OCO, Market
Promo
Following Yes
Following min amount 0.001 BTC
Following entry fee 1%
COV Utility Yes

Coinbase

Coming to Coinbase, for spot trading, the fee structure is based on the maker/taker fee model 0.60%/0.40% when you trade between $0-10k. A network transaction fee is also charged; withdrawal fees depend on the withdrawal method.

To know more about the spot trading fees in more detail, refer to the table below:

Pricing Tier Taker Fee Maker Fee
Up to $10k 0.60% 0.40%
$10k-$50k 0.40% 0.25%
$50k-$100k 0.25% 0.15%
$100k-$1m 0.20% 0.10%
$1m-$20m 0.18% 0.08%
$20m-$100m 0.15% 0.05%
$100m-$300m 0.10% 0.02%
$300m-$500m 0.08% 0.00%
$500m+ 0.05% 0.00%

 

PrimeXBT vs Coinbase: Account Funding Methods

PrimeXBT

primexbt deposit funds

Method 1: Direct Crypto deposits allow you to transfer cryptos from your crypto wallets instantly.

Method 2: Deposits from MetaMask Wallet; install the MetaMask plugin in the browser you access the platform on.

Method 3: Buying Crypto via Credit card/SEPA transfers option allows you to buy BTC, ETH and ERC20/BEP20 tokens. 

You can also deposit USDT and USDC – using a Bank Card / SEPA transfers / Gift cards / Alternative Cryptocurrencies via third-party exchange services like Coinify, XanPool, Paxful and CEX.io.

Coinbase

Method 1: Bank Account transfers are best for large and small investments and are settled within 3-5 business days, and Coinbase charges a 1.49% fee for the transaction.

Method 2: Instant cashouts to bank accounts which are best for small cashouts and are settled instantly.

Method 3: Deposits through debit/credit card, best for small investments and cashouts, are settled instantly as well, and Coinbase charges a 3.99% fee for the transaction.

Method 4: Wire Transfer can also be executed within 1-3 business days and best for significant investments.

Method 5: Online payment methods like PayPal, Apple Pay and Google Pay can also be used instantly for small investments and cashouts.

 

PrimeXBT vs Coinbase: Trading Platform Comparison

PrimeXBT

PrimeXBT offers a straightforward trading interface consisting of all the advanced order types and trade-specific functionalities. The interface is suitable for both beginner and advanced-level traders. 

The trading window consists of all the basic as well as advanced options and features for an optimised trading experience. The platform makes it easy to learn and practice through demo trading accounts and then execute your trades according to your trading strategy. 

Coinbase

On Coinbase, you can simply switch between basic trade and advanced trade. The trade section allows you to buy/sell crypto without any hassle. Advanced trade is where you can trade at a deeper level. In the Advanced trade section, a long list of trading pairs are available; you can simply select a pair to start trading in it.

The charting system of Coinbase is pretty basic, with basic trading tools that you will need. However, there is no TradingView integration. But it will do the job.

 

PrimeXBT vs Coinbase: Account Types

PrimeXBT

PrimeXBT allows you to trade staying anonymous and doesn’t make KYC mandatory. However, PrimeXBT reserves the right to verify its client’s identity or source of funds if AML regulations are hampered in any way; this comes under a Customer Due Diligence policy (CDD).

Under this, the users must submit Proof of Identity, address and source of funds. Although CDD is rarely implemented, if you do not abuse the default trading procedures or jeopardise it, you can trade anonymously with complete accessibility.

Coinbase

In contrast, Coinbase doesn’t give you an option of anonymity, and it is compulsory to go through the account verification procedures. To get verified, you need to submit a government-issued ID and photo verification through your device’s camera.

Make sure that you allow access to your camera and microphone for the Coinbase platform. Once the account is verified, which usually takes 2-3 minutes, you’ll be directed to the ‘Your Document’ page.

 

PrimeXBT vs Coinbase: How to get started?

PrimeXBT

Register

  • Visit the registration page by clicking here.
  • Enter your e-mail ID and a secure password; agree to the terms and conditions; you can optionally provide your phone number as well.
  • Click on ‘Register’ and confirm your registration by entering the 4-digit PIN code that you receive via email.

Deposit

  • Visit the main page of your account dashboard and select ‘Direct Crypto Deposits’ or ‘Buying Crypto’. 

For direct crypto deposits

  • Choose your deposit currency.
  • Copy your personal PrimeXBT wallet address.
  • Paste into the destination field on the site/wallet service or use the provided QR code from which you are sending funds.

For buying crypto

  • To purchase, click ‘Buy Crypto’ or ‘Bank Card’, which will pop up a widget to make the purchase.

Making your first trade

Transfer funds from your wallet to your PrimeXBT trading account.

  • Open the Trade interface. In the chart window, select the pair you wish to trade and the order size.
  • Now click or tap the Red button to place a short or green to place long order.
  • ‘New Order’ window will pop up, select the desired order parameters and click ‘Send Order’.

 

Coinbase

Register and verification

  • Click or tap on ‘Get Started’. In the window that pops up subsequently, enter your full legal name, email address, secure password and state. 
  • Read the platform’s policy carefully, then click ‘Create Account or tap ‘Sign Up’. 
  • Now, verify your account using your registered email address; clicking the link will send you back to Coinbase.com. Then, sign back in using the email and password, and the verification process will be completed.
  • Now, you need to verify your phone number by entering the seven-digit code that Coinbase will send you via SMS.
  • After verification, you need to add your personal information by submitting your government-issued photo ID, which includes your permanent address.

Deposit

  • Sign in to the exchange and click the ‘Trade’ tab.
  • Under ‘Wallet Balance’, click ‘Deposit’. Then select the asset and deposit method you would like.
  • Now, select the appropriate destination address, then copy the wallet address. 

 

PrimeXBT vs Coinbase: Customer Support

PrimeXBT

With 24×7 operations, and a highly knowledgeable and professional assistance team, PrimeXBT customer support is quite reliable. In case you have any other additional queries, you can contact them directly via email at support@help.primexbt.com or info@primexbt.com.

The platform also offers instant web chat; you can instantly connect with them through chat assistance. The platform’s assistance team responds within seconds of sending a message.

Coinbase

It offers you similar support gateways as PrimeXBT. They provide support via phone calls for different regions like the USA, UK, India and Ireland. Additionally, you can also get support via chat.

You can raise a support ticket, and they will get back to you at the soonest. Plus, Coinbase has a help centre where you will find answers to the most commonly asked questions or issues faced.

 

PrimeXBT vs Coinbase: Security Features

PrimeXBT

PrimeXBT has an impenetrable security system with top-notch SSL encryption and risk check after every order placement and execution; PrimeXBT has one of the best trading interfaces.

All the passwords are cryptographically hashed, while all the other sensitive data is encrypted. PrimeXBT has a mandatory Bitcoin address whitelisting feature and Cloudflare to mitigate potential distribution denial-of-service (DDoS) attacks.

The platform also conducts regular tests and check-ups by its technical team and continuous IT security assessment to keep up to date with new potential vulnerabilities.

Together with that, they offer two-factor authentication and prevent unauthorised access to a user’s account. With that, they also store most of their user’s funds in cold storage. With these many security features, PrimeXBT is a 100% safe and secure platform.

Coinbase

Similarly, It is also one of the secure crypto trading platforms out there. Coinbase has one of the most advanced and robust security systems. Also, the platform has never been hacked, and they are known to keep 98% of the user funds in cold storage.

Additionally, Coinbase provides 2FA verification and requires biometric fingerprints for security keys. Also, since it is a USA-based company, crypto traders enjoy FDIC insurance coverage of up to $250,000.

 

  • Is PrimeXBT safe?

The clear answer to this is yes. PrimeXBT is a secure and legitimate platform with industry-leading security features. The platform implements cryptography encryption, and Bitcoin address whitelisting makes the security impenetrable. The platform also offers two-factor authentication readily, adding an additional layer of security to your account.

  • Is Coinbase safe?

Yes, Coinbase is also a safe crypto exchange. The company has a mandatory KYC verification policy for all of its users. Plus, the company has implemented industry-standard security features to make the exchange as secure as possible. Also, it keeps 98% of traders’ funds in cold storage and offers you user-centric security features like 2FA, security keys and others. And all of these definitely give any crypto trader a safe trading experience.

Conclusion

On and all, you would have realised, even though these platforms are pretty similar, PrimeXBT is undoubtedly a better option for beginners as well as advanced traders. It offers all the industry-leading functionalities and security features at affordable pricing.

So, what are you waiting for? Get your hands on PrimeXBT and skyrocket your profits.

nv-author-image

Jack Bailey

I am John, a veteran trader turned into a trading coach. Especially in the realm of cryptocurrency derivatives which is now booming and expected to grow big.