In April 2021, the Spanish regulator CNMV warned against the crypto-based trading platform PrimeBit, allegedly operated by PrimeBit Ltd, registered in St. Vincent and the Grenadines. In essence, PrimeBit is just another unauthorized multi-asset broker that accepts deposits only in cryptos and offers a leverage of 1:200. PrimeBit has no regulatory permission to do so. We consider Primebit a scam and have put it on our black compliance list. Stay away!
Key Data
| Trading name | PrimeBit |
| Business activity | P2P crypto exchange |
| Domain | https://primebit.com |
| Social media | Facebook, Twitter |
| Legal entity | PrimeBit Ltd |
| Related individuals | not disclosed |
| Contact | [email protected] Telegram |
| Jurisdiction | St. Vincent & The Grenadines |
| Authorization | No |
| Leverage | 1:200 |
| Deposit options | crypto |
| Trustpilot | 3.4-star rating with an “Average” trust level |
| Compliance rating | Black |
| Warnings | CNMV |
Short Narrative
PrimeBit promises bonus payments for BTC deposits that are possible via the BTC Blockchain, the Binance Smart Chain, and the Lightning Network.
We have not found evidence that PrimeBit is a decentralized peer-to-peer (P2P) crypto trading platform. Instead, based on our review, we believe that PrimeBit is simply a plain broker scam banking on the crypto hype. There is no evidence that PrimeBit is even connected to any trading system. There is no identity verification at all during the registration process. You can register with Facebook and Google and immediately deposit BTC and USDT.
Compliance Check
The Spanish regulator CNMV has already issued a warning against PrimeBit. The crypto company has no regulatory permission that we know of. No information about the operators is disclosed either. Therefore, we put PrimeBit on our black compliance list.
Share Information
If you have any information about PrimeBit, please let us know through our whistleblower system, Whistle42.




