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Cryptocurrency

BIG TECH PLAYER ABOUT TO ACQUIRE PRIMEBIT EXCHANGE

According to our sources PrimeBit – a P2P crypto contract trading platform competing directly with BitMEX, Kraken, Deribit, and others – is in the final stages of negotiating a deal with a fintech company operating in the cryptocurrency markets. The name of the investor is to be revealed when the deal is finalized. 

How much is PrimeBit worth? The market leaders BitMEX and Kraken are valued at from $2 billion to $4 billion each. Although PrimeBit is a younger product it has already grown to 40k registered traders. The users can exchange simple linear contracts on bitcoin, ethereum, and litecoin, trading with BTC or USDT accounts.

An innovative auto-deleveraging system and liquidity solutions allow the platform to offer the market-leading 1:200 maximum leverage on all trading pairs. The majority of traders use PrimeBit WebTrader, while native iOS and Android apps, as well as MetaTrader 5 desktop client, are also popular.

PrimeBit has recently experienced an increase in trading volume thanks to the current cryptocurrency bull market driving bitcoin price up by 45% in less than a month. Additionally, PrimeBit has just concluded a huge promo event Demo Contest, which got substantial traction in the crypto trading community.

The competition gave PrimeBit also an inspiring proof of concept as the best traders achieved over 15,000% return on investment over four weeks of trading. New traders can learn from the best competitors following their best deals on PrimeBit’s Blog.

The PrimeBit insiders told us that several fintech and crypto companies, as well as venture capital funds, have been interested in buying the platform. One offer is on the verge of being accepted by both sides.

 

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