|Bitbank exchange has it Servers Centers based in Japan and is fully licensed from the Japanese Financial Services Agency (JFSA). The Bitbank focuses on trading Bitcoin and other cryptocurrencies against the local currency, JPY.|
|Volume 24h||$613 622 812|
|Updated||Monday, April 19, 2021 12:00:02PM UTC|
Bitbank facts, technical details and Bitbank information
Bitbank exchange has it Servers Centers based in Japan and is fully licensed from the Japanese Financial Services Agency (JFSA). The Bitbank focuses on trading Bitcoin and other cryptocurrencies against the local currency, JPY.
Bitbank is an exchange based in Japan that launched in 2016. It specializes in trading Bitcoin and other cryptos against the JPY (its local currency). Coin-to-coin trading is also an option. The exchange has a really crisp-looking website and seem to have focused a bit harder than many other exchanges when it comes to design, user experience and similar things.
The platform is also available as a mobile application if you for any reason would prefer to do your cryptocurrency trading somewhere else than on your desktop. The application is – as usual when it comes to cryptocurrency exchange applications – available for both iPhones and Android-phones.
Bitbank is a new cryptocurrency exchange service offering their clients highly accurate and reliable market insights for the trading of Bitcoin and Litecoin. Bitbank achieves these market insights through the analyzation of market news and research, as well as from their sophisticated prediction algorithms and advanced artificial intelligence software. Also, Bitbank is so much more than an exchange and market insights platform. Bitbank features a ‘wallet service’ for storing Bitcoin and Litecoin, a ‘Bitbank Register’ service for local payments at various merchants, and a ‘Bitbank Pay’ service for online businesses. With all these services, Bitbank’s goal and motto are ‘Bitcoin for Everyone”.
Bitbank is a safe and transparent platform with various services including Bitcoin and Litecoin finance product, hash mining investment, we sincerely hope to seize the opportunity and partner with you!
The Bitbank exchange and services were launched in 2014 with their company being based out of Japan. Being based out of Japan, the company falls under the regulation of the Japanese Financial Services Agency (JFSA). This level of the regulation provides Bitbank with a great deal of credibility as most other services of this kind are not yet regulated. Bitbank primarily services customers from Japan but also accepts clients from all over the world. The website and services they provide are available in English, Chinese, and Japanese.
There are many cryptocurrency exchanges and services available these days and it can be difficult to know which ones can be trusted and if they’re right for you. Therefore, in the following review, we delve deep into the aspects that make up this cryptocurrency exchange and see what sets Bitbank apart from the competition and whether or not they can be trusted.
The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees. Bitbank’s trading fees for takers are 0.15%. This fee is slightly below the industry average. The industry average is arguably around 0.25%, although we currently see a large number of exchanges moving to even lower trading fees (0.10%-0.15%).
The exchange also offers a very large discount on the above trading fees for makers (i.e., providers of liquidity, the party in a trade that doesn’t take the offer that is already on the order book). Makers don’t pay any fees at all – they get paid. The maker fees here are thus -0.05%, meaning that makers are rewarded for providing liquidity to the trading platform. This is naturally a strong competitive edge for the investors who are not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
Bitbank charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. This is far below the global industry average (0.000812 BTC per BTC-withdrawal). To conclude on the fees, Bitbank charges very competitive fees to the benefit of all its users.
Bitbank offers wire transfer as a deposit method, but credit cards are not a permitted deposit method. If you for any reason want to buy cryptos with your credit card, then this exchange is off boundaries for you. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
The Bitbank exchange platform is a proprietary web-based trading platform which is fully compatible with all desktop and mobile devices. The exchange platform is quite advanced and utilizes charting from TradingView which has over 50 technical indicators and numerous analysis tools built into it. Traders have the ability to conduct real-time price analysis on their own as well as to use the prediction data generated from the algorithms and artificial intelligence software. Users can place their orders based on the market data and indicators provided to them or simply on their own analysis. The platform is truly unique and advanced with their market insights and analysis features.
Bitbank is a rather specialized exchange platform by only offering exchange services for Bitcoin (BTC) and Litecoin (LTC). As well, the only fiat currency supported for exchanging with these cryptocurrencies is the Japanese Yen (JPY). This is somewhat disappointing for traders outside of Japan as many other cryptocurrency exchanges usually accept both Euros and US Dollars. However, traders can purchase Bitcoin and Litecoin from other exchanges and then transfer them to Bitbank to use their exchange services. Though traders who have a Japanese bank account are more suited for the Bitbank cryptocurrency exchange.
The Bitbank exchange is a highly secure and safe cryptocurrency exchange as they are regulated by the JFSA. Since their establishment in 2014, Bitbank has never had any reported hackings or loss of funds. The exchange implements the latest security features such as SSL encrypted servers, two-factor-authentication for logins and transactions, and both cold and hot wallet storage. As well, each user is treated equally with the same services available to them. Every user has the ability to download all of the company’s datasets to see the historical performance of the predictive algorithms. This provides users with a high level of transparency.
Bitbank offers their customers support via an email ticket system. This system is available 24/7 and allows users to confidently identify their problem so that they can better receive assistant via support. As well, customers can view the help center page where they will find answers to the most commonly asked questions. This help center is rather limiting with information, but the support representatives are quick to respond to any questions you have. All in all, Bitbank’s level of customer support is mediocre but sufficient.
* Crypto Rating accepts no liability for any errors in the Bitbank information and Bitbank trade volume. For the most up-to-date prices please visit the Bitbank's official website.
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|4||Bitfinex||2012||4.4||146||1 387 204 084||61.17%|
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|9||OKEx||2014||3.6||242||14 488 406 321||31.87%|
|10||CoinBene||2017||2||113||5 020 717 633||1.95%|
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