Here we compare two major leverage trading platforms – PrimeXBT and Deribit with both having the goal to be the best of the best in their respective fields. They are different yet so close to each other offering unique products when compared. PrimeXBT and Deribit are platforms that go the extra mile with their trading instruments.
PrimeXBT was founded in 2019, a platform that is innovative and expanding fast. Deribit, on the other hand, is the more established player in the industry, as it was founded in 2016 while managing to stay one of the most stable and reliable leverage trading platforms.
PrimeXBT vs Deribit UI Comparison
Both platforms have very nice user interfaces that use a dark color template and are well designed. The PrimeXBT user interface is one of the best in the industry. It is fully customizable and offers the opportunity to create the ultimate trading environment. I’m sure there are traders out there who desperately need a fully customizable interface. If you are one of those traders, you may have found your platform.
Deribit however does not have a fully customizable interface. There are only two options for customizing the interface that changes only the color. But the user interface is so well designed that you may not need to adjust or change anything overall.
PrimeXBT has a better UI as you can customize almost everything on it, adjust tab size, position, etc… This is what the UI of Deribit lacks and falls behind the more advanced user interface of PrimeXBT.
Both platforms offer a significant level of security as they apply the best security practices in the industry. With the mandatory Hot and Cold Wallets, both platforms also apply a confirmation when you add an address for withdrawal. Although both platforms have very high-security standards, Deribit is one step ahead. Perhaps this is because it has been on the market much longer and has had time to develop. Deribit has one very important feature compared to PrimeXBT – an insurance fund. If Deribit is hacked and money are stolen from their hot wallets, they will cover the losses thanks to the insurance fund.
PrimeXBT vs Deribit Deposits and Withdraws Comparison
Deposits and withdrawals on both platforms are limited. PrimeXBT offers only BTC deposits and withdrawals. There are no other Altcoins, which is unfortunate. PrimeXBT processes withdrawals once a day between 12:00 and 13:00 UTC. While Deribit processes them immediately depending on the liquidity in the hot wallet and offers deposits and withdrawals on Ethereum besides Bitcoin. The big difference between the two platforms is that PrimeXBT also offers buying of Bitcoin through debit, credit cards via CEX, a regulated exchange on which you can read our review here.
PrimeXBT vs Deribit Trading Instruments Comparison
Deribit offers perpetual contracts trading with 100x on BTC and ETH as well as options trading. Options trading is one of the reasons why you might use both platforms, of course, if you find this instrument desirable. PrimeXBT offers 100x leverage trading on BTC, ETH, LTC, EOS, and XRP, also there are pairs that are traded against BTC. It also offers commodities, stock indices, and Forex for trading with up to 1000x on EURUSD. If you choose PrimeXBT as your main trading platform, you gain access to a wide range of markets and trading instruments.
PrimeXBT because the newer platforms tend to take more risk with their trading products. Boldness can reward them in the future if they continue to introduce new features and tools. Deribit is a very good platform, but PrimeXBT simply offers much more. You can use Deribit to trade options and use PrimeXBT to trade other traditional markets besides crypto and even copy the trades of other traders thanks to the Covesting module. PrimeXBT attracts not only experienced traders, but also ordinary people who want to trade via copy trading.