My math teacher writes $\frac{dx}{dt}$ as $x'$, and makes us do the same for homework. (in a particle motion context, where $t$ is time)
I am aware that the standard notation is usually $\dot{x}$, and I have never seen the teacher's notation in textbooks. However, my teacher finds that dots are often impractical for handwriting (she says that sometimes the dot is too small to be seen or we have to press harder on the paper to make it obvious etc.)
My question is; would it be wrong to write the derivative with a prime?
No, it's not wrong. I think the prime is the usual way, and the dot is just a special way for time derivatives like you already said.