BitPrime who describes their self as a “full-service cryptocurrency retailer” is a powerful cryptocurrency exchange from New Zealand. Not only can you trade 150+ cryptocurrencies, but BitPrime also offers a unique selling point in form of security. You always hold your own coins and when you choose to buy cryptocurrency, you will buy them from BitPrime’s own coin reserve.
History of BitPrime
Monique Wright and Ross Carter-Brown, the creators of BitPrime, launched the company in March 2017. Initially, They operated from home, offering Bitcoin to consumers and using a whiteboard to keep track of current orders. Since then, things have changed considerably.
The cryptocurrency market exploded, and it was clear that demand would quickly rise. Ross and Monique recognized that the market was about to explode, so they provided space for it to develop.
With Lucy and Courtenay, the two new staff members of BitPrime, they moved into the BizDojo shared office space in Christchurch. BitPrime teamed up with two other firms based in the BizDojo to build a more scalable platform with simplified procedures.
How does BitPrime work?
BitPrime is a trading platform that uses cryptocurrency and blockchain technology to help investors buy and sell more than 150 cryptocurrencies. With BitPrime, you can purchase or sell your digital assets directly from your wallet with just 3 simple steps.
- Signup, and create your account
- Verify your identity
- Buy or sell crypto assets from your wallet
A New Zealand bank account, a credit card or some crypto on your wallet is all it takes in order to start investing today: as soon as the user has signed up they’ll be able to buy coins onto their personal wallets via this secure exchange service which works seamlessly on mobile devices too.
BitPrime is a non-custodial cryptocurrency exchange that does not keep any coins on its platform. In contrast to other exchanges and brokerages, rather than storing the cryptocurrency, BitPrime sends it straight to the wallets. As a result, funds belonging to clients cannot be frozen, lost, or stolen from the BitPrime system.
BitPrime Fees and Prices
The margin charged by BitPrime includes all of their expenses, such as bank costs, foreign exchange fees, and slippage. They try to be within specific percentages of CoinMarketCap spot prices to make it easier for the customers to calculate pricing.
Target spreads
| RETAIL (Internet Banking) | |
| $100 – $20,000 | 2.90% |
| $20,000.01 – $50,000 | 2.00% |
| RETAIL (Credit Card) | |
| $100 + | 5.00% |
| OTC DESK – NZD Trading Pairs | |
| Purchase amount (cumulative, annually) | |
| $50,000 – $250,000 | 2.00% |
| $250,000 – $1,000,000 | 1.75% |
| $1,000,000 – $5,000,000 | 1.50% |
| $5,000,000 – $10,000,000 | 1.20 % |
| $10,000,000 + | 1.00% |
| Institutional Account | By Negotiation |
Why should I use BitPrime over other crypto exchanges?
BitPrime is a really good cryptocurrency trading platform for a variety of reasons. The exchange has excellent digital security, you keep your own crypto assets in your own wallet, are transparent with their fair fees and have friendly support. They have a great knowledge base with both articles and videos for you to learn about cryptocurrency and trading.
They also have professional OTC solutions for heavy traders, fund managers and so on. Being a third-party custodian with one of the highest levels of security in the world. The procedures are created to prevent collusion risks. If a digital asset is stolen, damaged, destroyed, or lost on the exchange, each withdrawal requires the signatures of both the custodian and the customers, and only pre-approved clients are allowed to do so from BitPrime.
The OTC exchange offers a number of unique features that make it substantially different from its competitors. The security measures, in particular, are not available on any other crypto exchange. It takes 3 hours to complete fiat to crypto deposits. Furthermore, the platform allows customers to make deposits ranging from $50k to $500k, and transactions up to $30 million
How to get started with BitPrime?
To get started with BitPrime, you will need to create an account on the website. Once your account is verified, you can start trading cryptocurrencies. BitPrime accepts a variety of payment methods, including bank transfers, crypto to crypto swap, credit cards, and debit cards.
Conclusion
BitrPrime is one of the most reliable and safe cryptocurrency exchanges in the world. It offers a variety of features that are not available on any other exchange. The security measures are particularly impressive, making BitPrime a great choice for investors. It is a bit of shame that you need a New Zealand bank account to deposit money via bank transfer. But you can always deposit via credit card payments (with a slightly higher fee) or do crypto to crypto swap. We really recommend you to try BitPrime.
FAQs about BitPrime
What cryptocurrencies does BitPrime support?
BitPrime supports over 150 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and XRP.
How long does it take to deposit funds into BitPrime?
Payments via the retail platform are near instant if paid via POLi, or dependant on bank processing times if manually deposited.
How long does it take to withdraw funds from BitPrime?
Compared to other exchanges, BitPrime has no fees when withdrawing your funds. Withdrawals usually take less than 24 hours to process.
What are BitPrime’s trading fees?
BitPrime’s trading fees are all-inclusive, meaning that there are no hidden costs.
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