What PrimeBit is
PrimeBit was a platform for perpetual contracts, that is, derivatives with no expiry date, founded in 2019 according to its website and run by PrimeBit Ltd, a company of Saint Vincent and the Grenadines. It presented itself as a "peer-to-peer" market: according to its terms of service, the company did not act as counterparty and matched clients' orders. The first contracts covered bitcoin, ether and litecoin; in 2024 the offering also included stocks, indices, currencies and commodities. Trading took place via the web, on mobile or with MetaTrader 5, with deposits only in cryptocurrencies and leverage of up to 200 times: at that level, a 0.5% move against the position was enough to lose the entire margin.
Regulation and licences
(Verified: October 2026)
- MiCA: NO — PrimeBit Ltd does not appear in the ESMA register of authorised providers (CASPs); the platform closed the day after the MiCA rules on providers began to apply (30 December 2024), without giving a reason. The website did not mention any licences from supervisory authorities.
- CONSOB warning (26 April 2021): in the newsletter "Consob Informa" no. 16/2021, CONSOB (Italy's securities regulator) relayed the list from Spain's CNMV that included Primebit Ltd (primebit.com/es) among entities offering investment services without authorisation. There are no blocking orders on record.
Security
The sources consulted show no attacks or losses of customer funds, nor any information on how balances were returned after the closure (Verified: October 2026).
Headquarters and contacts
- PrimeBit Ltd, International Business Company no. 25433 BC 2019, Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines (data from the archived website, December 2024).
Alternatives
For anyone looking for an exchange that is operating and authorised in the EU (the MiCA licence does not cover the leveraged contracts offered by PrimeBit):
- Kraken — MiCA licence from the Central Bank of Ireland (25 June 2025).
- Bitstamp — MiCA licence from Luxembourg's CSSF (15 May 2025).
FAQ
Is PrimeBit still active? No: it closed on 31 December 2024 and the primebit.com domain now hosts an online casino website unrelated to the platform (Verified: October 2026).
Was PrimeBit authorised in the EU? There is no record of it: in 2021 Spain's CNMV flagged it as lacking authorisation, a warning relayed by CONSOB, and PrimeBit Ltd does not appear among MiCA-authorised providers.
Can I recover funds left on PrimeBit? The closure notice referred only to an email address on the primebit.com domain, which is now used for something else: there is no verifiable channel on record. Be wary of anyone promising recoveries in exchange for payment.
Verified sources
- https://web.archive.org/web/20250126120916/https://primebit.com/
- https://web.archive.org/web/20241212051143/https://primebit.com/
- https://web.archive.org/web/20241212054543/https://primebit.com/about/
- https://web.archive.org/web/20241204161416/https://primebit.com/terms-of-services/
- https://web.archive.org/web/20241202220659/https://support.primebit.com/hc/en-001/articles
- https://www.consob.it/web/area-pubblica/-/comunicazione-del-2021-04-26
- https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv
