PrimeXBT is a global trading platform that was founded back in 2018 and has its headquarters in the Seychelles and St. Vincent and the Grenadines. Despite being a relatively recent addition to the crypto scene, PrimeXBT has grown exponentially in the years since its launch and currently has users all over the world in over 150 countries. It provides a range of trading tools and various cryptocurrencies to buy and sell. It is important to note that PrimeXBT isn’t just a cryptocurrency exchange. Aside from their advanced crypto trading tools, they also offer other types of trading as well. Among its users, PrimeXBT is known for its powerful trade engine, which offers super-fast order execution and processing times, along with real-time risk management. It is worth mentioning that PrimeXBT likes to highlight that their whole system is powered by Amazon’s own AWS servers.
Both PrimeXBT and Zengo provide users with the ability to buy and trade crypto assets. It is true that they share some similarities, but they also have notable differences, especially regarding their priorities and technologies. To start with, while PrimeXBT is considered to be a centralized crypto exchange, it does not exclusively focus on cryptocurrencies but rather offers a diverse line of financial products and services. In contrast, Zengo is designed exclusively as a secure, non-custodial crypto and NFT wallet. The Zengo team places a great deal of emphasis on security and privacy. The wallet uses industry-leading security technologies, like MPC and 3-factor authentication, to safeguard its users and their assets. On top of that, Zengo lets you interact with a variety of Dapps while keeping you safe with its Web3 firewall.
If you want to withdraw funds from PrimeXBT, you’ll need to pay the withdrawal fee, which is a flat rate for any amount. The fee itself can vary depending on which kind of crypto you want to withdraw and the network used for the process. You can learn more about their withdrawal fees on their dedicated FAQ page.
According to the FAQ section on their website, PrimeXBT imposes a 24-hour withdrawal limit of $20,000 or its equivalent in other currencies per account. The limit applies to the total sum of all submitted withdrawals within 24 hours. However, users are able to remove this withdrawal limit by verifying their accounts. The current 24-hour withdrawal limit that applies to your account is displayed in the “Settings” section of your account.
According to PrimeXBT’s FAQ section, all pending withdrawals on their platform are processed once a day, between 12:00 and 14:00 UTC. If a withdrawal is requested before 12:00 UTC, it will be processed on the same day. However, any withdrawal requested after 12:00 UTC will be processed on the following day. Therefore, if a withdrawal is requested after 12:00 UTC, there could be a wait of over a day to see the funds in your wallet.
There’s always a risk when withdrawing crypto that you might accidentally send it to the wrong account or enter the wrong withdrawal information. This is why it’s so vital to make sure you type in the correct details, such as the correct wallet address for your Zengo wallet, and make sure you double-check everything before confirming the transfer. In addition, since PrimeXBT doesn’t process any withdrawals made after 12:00 UTC until the next day, you may not always be able to rely on this service for instant transfers of funds. Furthermore, PrimeXBT has a daily withdrawal limit on accounts that are not verified, so if you need to withdraw more than the daily limit, you will need to verify your account.
PrimeXBT supports the withdrawal of crypto to fiat currencies, including USD. To do this, click on the “Main” page, then “Withdraw” on your chosen currency. Pick the wallet you wish to withdraw from, enter the payment method (only AdvCash is supported for now), and enter the other relevant details before clicking the “Submit to Withdraw” button. As an alternative, if you want to withdraw your funds in fiat more easily, you can transfer them to your Zengo wallet and then withdraw them to the bank account associated with your Zengo wallet.
