Bitbank review: Bitbank is a cryptocurrency exchange platform that provides a secure and user-friendly environment for trading various digital assets. Established in 2014, Bitbank has gained recognition in the rapidly growing cryptocurrency industry and has become a popular choice among traders and investors.
One of the key features that sets Bitbank apart is its commitment to security. The platform employs advanced security measures to safeguard user funds and data. It utilizes cold storage for the majority of its users' cryptocurrencies, keeping them offline and out of reach from potential hackers. Additionally, Bitbank regularly conducts security audits and updates its protocols to ensure the highest level of protection for its users' assets.
Compliance with regulations is a crucial aspect of any cryptocurrency exchange's operation, and Bitbank strives to adhere to relevant legal requirements. By implementing robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Bitbank maintains a transparent and compliant environment that promotes the legitimacy and credibility of the platform.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 31+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ❌ |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Japan |
Overall Bitbank Review
Overall, Bitbank is a reputable cryptocurrency exchange that excels in security, diversity of supported cryptocurrencies, trading interfaces, liquidity, and mobile accessibility. As with any investment, users should conduct their research and exercise caution, but Bitbank provides a solid platform for those looking to engage in cryptocurrency trading.
Go to Bitbank website
Top Reviews
Best customer reviews of Bitbank
The site administration cannot guarantee review accuracy and lacks the technical means to verify if authors are actual customers. Reviews lacking detail and purely emotional in nature are disregarded.
Bitbank's security measures impressed me, as they employ advanced protocols and cold storage for cryptocurrencies. The extensive selection of trading pairs allowed me to explore various markets, and the user-friendly interface made navigation a breeze. The mobile app was a game-changer, allowing me to manage my trades on the go effortlessly
Japan
Bitbank offers a decent range of cryptocurrencies for trading, and their liquidity is satisfactory. However, the platform's customer support response time could be improved, as I faced delays in getting my queries addressed. The trading interface felt average, neither too complicated nor too user-friendly, making it suitable for average traders.
Japan
Bitbank's limited availability in certain regions was a significant drawback for me, as I couldn't access the platform from my location. Additionally, their fees seemed higher compared to some other exchanges, which affected my overall profitability. The lack of clear communication during a system upgrade led to confusion and inconvenience for users, tarnishing my experience.
Japan
Expert Review
Expert Review of Bitbank
As a financial expert, I must assess the reliability of the Bitbank exchange from a critical standpoint. Bitbank has demonstrated some commendable features, but there are also areas of concern that warrant attention.
One of the strengths of Bitbank lies in its robust security measures. Utilizing cold storage for the majority of users' cryptocurrencies and conducting regular security audits signifies a proactive approach to safeguarding user funds and data. This commitment to security enhances the platform's credibility and instills confidence in traders and investors.
Moreover, Bitbank offers an extensive range of supported cryptocurrencies, allowing users to access a diverse selection of digital assets. This diversity can be advantageous for those seeking exposure to various markets and investment opportunities within the cryptocurrency space.
However, while Bitbank provides a relatively competitive trading environment with healthy liquidity, there have been reports of limited availability in certain regions. This regional restriction can be a drawback for potential users who are unable to access the platform due to their location.
Another aspect that requires improvement is the platform's customer support. Users have reported delays and inadequate responses, which can be frustrating when urgent issues arise during trading activities. Efficient and responsive customer support is crucial for any reputable exchange, and Bitbank should address this area to enhance user satisfaction.
In conclusion, Bitbank has demonstrated strengths in security and cryptocurrency offerings, making it a viable option for traders and investors. However, the platform should work on addressing the issues related to limited availability, customer support, fee transparency, and communication during upgrades to enhance its overall reliability and user experience. As with any financial platform, potential users should conduct thorough research and consider their individual needs and risk tolerance before engaging with Bitbank.
Financial expert and analyst at TradersHero.com
Risk Warning. Cryptocurrency markets are known for their extreme price fluctuations. The value of cryptocurrencies can experience rapid and significant changes within a short period. While this volatility presents opportunities for profit, it also exposes traders to the risk of substantial losses. It is crucial to have a clear risk management strategy in place and to avoid investing more than you can afford to lose.
Bitbank Ern
Investment Programs
Earning money on Bitbank or any cryptocurrency exchange involves trading and investing in cryptocurrencies. There are no specific programs provided by Bitbank itself to guarantee earnings. Instead, users can utilize various trading strategies and investment approaches to potentially profit from the price movements of cryptocurrencies. Here are some common ways people aim to earn money on Bitbank:
Bitbank does not offer staking services for cryptocurrencies. Staking, a popular mechanism in the cryptocurrency industry, allows users to blockchain their digital assets to support blockchain networks and receive rewards for doing so. However, while Bitbank provides a variety of other services, staking is not among the features currently available on its platform.
It is important to note that the cryptocurrency landscape is constantly evolving and platforms may introduce new services or features over time. For the most up-to-date and accurate information, I recommend checking out Bitbank's official website or contacting its support team for any updates regarding staking or other additional offerings in the future.
Staking can be an attractive way to potentially generate passive income, but users should always exercise caution and thoroughly research any investment or service before participating in it. Understanding the risks and rewards associated with betting is essential to making informed decisions when dealing with cryptocurrencies on any exchange.
Although Bitbank implements advanced security measures, the nature of the digital asset industry leaves it vulnerable to security breaches and hacking attempts. Cybercriminals may target the platform or individual user accounts to steal funds or sensitive information. It is essential to use strong security practices, such as enabling two-factor authentication and keeping private keys offline, to minimize the risk of unauthorized access to your account.
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Conditions
Trading Conditions for Bitbank Users
One notable advantage of Bitbank is its unique fee structure. Offering a negative maker fee of -0.02%, the exchange essentially pays traders for their transactions, making it stand out in the global market. Additionally, the taker fee is set at a competitive 0.12%, making Bitbank an appealing choice for cost-conscious traders. Moreover, the withdrawal fees are also relatively low, adding to the platform's appeal for users seeking cost-effective trading options.
Bitbank ensures stability and convenience through its use of the TradingView terminal for browser-based trading. This terminal includes advanced technical analysis tools, with all features and modifications available in the mobile application as well. The platform allows users to engage in a variety of trading strategies without restrictions, giving traders the freedom to implement their preferred approaches.
However, Bitbank does have some limitations. It lacks investment programs, referral schemes, and specialized solutions for beginners. Additionally, the absence of staking services may deter users seeking passive income opportunities. Nonetheless, these drawbacks are not considered significant factors for traders who prioritize cost-effectiveness and flexibility.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 31+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0% |
| 💳 P2P platform | ❌ |
| 🔁 Copy Trading | ❌ |
| 📊 DeFi Staking | ❌ |
| 🖼️ NFT | ❌ |
| 🏦 Crypto Loans | ❌ |
| 🔓 Demo account | ✅ |
| 🚀 Launchpad | ❌ |
| 📱 Mobile apps | iOS, Android |
| 📞 Customer Service | Forums, Chat, Email |
| 👩💼 Support | Multilingual |
| 🗺️ Headquarters | Japan |
Risk Warning
Comparison
Comparison of Bitbank with other Crypto Exchanges
Crypto Exchanges comparison table of trading instruments
Commissions
Bitbank Accounts, Commissions & Fees
Bitbank offers traders an appealing platform with competitive commissions and transparent fees. The exchange provides standard trading accounts, allowing users to register quickly and start trading after completing the verification process, usually taking up to one business day. With no minimum deposit requirement, traders have the flexibility to manage their financial policies.
Bitbank's fee structure sets it apart in the market. Makers benefit from a negative fee of -0.02%, effectively receiving a bonus from the exchange for their trades. Takers, on the other hand, are charged a competitive fee of 0.12%, one of the lowest rates available. These fixed commissions remain unaffected by asset type, transaction volume, or total trading volume, appealing to traders seeking cost-effective solutions.
Funding the account incurs no additional charges, irrespective of the chosen input channel. However, withdrawal fees are fixed and vary depending on the asset but do not depend on the withdrawal amount or channel. Bitbank's withdrawal fees are generally lower than the global market average, making it an attractive choice for those looking for cost-effective trading options.
While Bitbank's straightforward account options and competitive fees are enticing, the platform lacks investment programs, referral schemes, and specialized solutions for beginners. Additionally, staking services are not available, limiting passive income opportunities for users seeking such benefits. Traders should weigh the platform's advantages and limitations based on their specific trading needs and preferences before engaging with Bitbank.
If you hold a BNB coin in your portfolio, the exchange offers discounts on fees
Trading commission
| Trading Pair | Maker Fee | Taker Fee |
|---|---|---|
| BTC/JPY (Bitcoin/Japanese Yen) | -0.02% | 0.12% |
| XRP/JPY (Ripple/Japanese Yen) | -0.02% | 0.12% |
| LTC/JPY (Litecoin/Japanese Yen) | -0.02% | 0.12% |
| ETH/JPY (Ethereum/Japanese Yen) | -0.02% | 0.12% |
| MONA/JPY (Monacoin/Japanese Yen) | -0.02% | 0.12% |
| BCC/JPY (Bitcoin Cash/Japanese Yen) | -0.02% | 0.12% |
| XLM/JPY (Stellar Lumen/Japanese Yen) | -0.02% | 0.12% |
| QTUM/JPY (Quantum/Japanese Yen) | -0.02% | 0.12% |
| BAT/JPY (Basic Attention Token/JPY) | -0.02% | 0.12% |
| OMG/JPY (OMG/Japanese Yen) | -0.02% | 0.12% |
| XYM/JPY (Symbol/Japanese Yen) | -0.02% | 0.12% |
| LINK/JPY (Chain Link/Japanese Yen) | -0.02% | 0.12% |
| MKR/JPY (Maker/Japanese Yen) | -0.02% | 0.12% |
| BOBA/JPY (Boba Network/Japanese Yen) | -0.02% | 0.12% |
| ENJ/JPY (Enjin Coin/Japanese Yen) | -0.02% | 0.12% |
| MATIC/JPY (Polygon/Japanese Yen) | -0.02% | 0.12% |
| DOT/JPY (Polkadot/Japanese Yen) | -0.02% | 0.12% |
| DOGE/JPY (Dogecoin/Japanese Yen) | -0.02% | 0.12% |
| ASTR/JPY (Aster/Japanese Yen) | -0.02% | 0.12% |
| ADA/JPY (Cardano/Japanese Yen) | -0.02% | 0.12% |
| AVAX/JPY (Avalanche/Japanese Yen) | -0.02% | 0.12% |
| AXS/JPY (Axy Infinity/Japanese Yen) | -0.02% | 0.12% |
| FLR/JPY (Flare/Japanese Yen) | -0.02% | 0.12% |
| SAND/JPY (The Sandbox/Japanese Yen) | -0.02% | 0.12% |
| APE/JPY (Apecoin/Japanese Yen) | -0.02% | 0.12% |
| GALA/JPY (Gala/Japanese Yen) | -0.02% | 0.12% |
| CHZ/JPY (Chilean/Japanese Yen) | -0.02% | 0.12% |
| OAS/JPY (Oasis/Japanese Yen) | -0.02% | 0.12% |
| MANA/JPY (Decentraland/Japanese Yen) | -0.02% | 0.12% |
| GRT/JPY (The Graph/Japanese Yen) | -0.02% | 0.12% |
The regulatory landscape surrounding cryptocurrencies is continually evolving, and changes in regulations or government policies can impact the operations of cryptocurrency exchanges like Bitbank. Unforeseen regulatory actions, such as bans or restrictions, could affect trading activities, withdrawal options, and overall market sentiment. Traders should stay informed about regulatory developments and be prepared for potential changes that may affect their ability to use the platform.
Risk Warning
Final review
Bitbank review of Binance
Bitbank stands out as a cryptocurrency exchange platform renowned for its focus on security and user-friendliness, catering to traders and investors since its establishment in 2014. Putting paramount importance on safeguarding user funds and data, Bitbank employs advanced security measures, including cold storage for cryptocurrencies, regular security audits, and protocol updates.
The platform boasts an extensive selection of cryptocurrencies available for trading, encompassing popular options like Bitcoin, Ethereum, and Ripple, along with various altcoins, catering to a wide range of market interests and opportunities within the cryptocurrency space.
Bitbank offers diverse trading interfaces to accommodate users of all levels, providing a simple interface for novices and advanced charting tools and order types for seasoned traders. By ensuring a competitive trading environment through partnerships with market makers and enticing trading incentives, Bitbank maintains healthy liquidity across its supported trading pairs, promoting efficient trade execution.
Enhancing user convenience, Bitbank offers a mobile application, enabling traders to access the platform while on the move, staying informed about the markets, executing trades, and managing accounts with ease.
In conclusion, Bitbank remains a reputable cryptocurrency exchange that excels in its commitment to security, diverse cryptocurrency offerings, flexible trading interfaces, healthy liquidity, and mobile accessibility, making it a reliable platform for cryptocurrency trading and investment endeavors. As with any investment, prudent research and caution are advised, but Bitbank provides a strong foundation for those venturing into the cryptocurrency market.
Advantages:
Main advantages of the platform:
Bitbank Regulator
Bitbank is regulated by the Financial Services Agency of Japan (FSA). The FSA is a governmental organization responsible for overseeing and regulating financial activities in Japan, including cryptocurrency exchanges. It plays a crucial role in ensuring the stability and security of the financial industry and protecting consumers' interests.
As a licensed cryptocurrency exchange under the FSA, Bitbank is required to comply with strict regulatory standards, such as anti-money laundering (AML) and know-your-customer (KYC) procedures. These measures aim to prevent illicit activities, fraud, and money laundering within the cryptocurrency space and provide a safe environment for traders and investors.
By operating under the oversight of the FSA, Bitbank demonstrates its commitment to regulatory compliance and provides its users with added confidence in the platform's reliability and legitimacy. Users can be assured that Bitbank operates within the legal framework set by the Japanese government, promoting transparency and trust within the cryptocurrency market.
Risk Warning
Promotions
Bonuses Paid by the Bitbank
Bonuses
Bitbank did not publicly offer specific bonuses or promotional rewards on its platform. However, please note that cryptocurrency exchanges often update their features and offerings, including bonuses and promotional campaigns, to attract new users and enhance user engagement.
To get the most accurate and up-to-date information regarding any current bonuses or promotional offers provided by Bitbank, I recommend visiting their official website or checking their platform directly. Look for any announcements or sections related to bonuses, promotions, or rewards programs that they may have introduced since my last update.
Keep in mind that bonuses and promotional rewards may come with certain terms and conditions, and it's essential to read and understand the requirements before participating. Additionally, always exercise caution and verify the legitimacy of any promotions or offers to ensure a safe and secure trading experience on the platform.
Education
Review of the Bitbank Education Program
Bitbank did not have a dedicated education program or comprehensive educational resources prominently available on their platform. However, please note that cryptocurrency exchanges may evolve and update their offerings over time.
An effective education program is an essential aspect of any cryptocurrency exchange, as it helps users, especially beginners, understand the complexities of trading, blockchain technology, and the various assets available for trading. Top exchanges often provide educational materials such as tutorials, articles, webinars, and videos to empower their users with knowledge and improve their trading skills.
If Bitbank has introduced an education program or educational resources since my last update, users can access it on their official website or through their platform. I recommend checking their website or contacting their customer support to inquire about any educational materials or programs they may offer.
For traders seeking a robust education program, it's also worthwhile to explore external educational resources, online courses, and cryptocurrency forums to gain a deeper understanding of the cryptocurrency market and trading strategies. Being well-informed is crucial in the dynamic and volatile world of cryptocurrencies, as it can help users make more informed decisions and manage their risks effectively.
Online Courses:
Please note that the availability and content of these online courses may change over time, so it's advisable to check their respective platforms for the most up-to-date information and course offerings. Additionally, before enrolling in any course, it's essential to read reviews and assess the course's syllabus to ensure it aligns with your specific learning objectives and interests.
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Rating and Comments
Bitbank Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
I don’t trust Bitbank’s security measures. There have been reports of hacks and unauthorized access to accounts, which is extremely concerning for users like me.
Bitbank’s customer support is abysmal. I’ve reached out to them multiple times regarding a critical issue, but they seem disinterested and unresponsive.
The verification process on Bitbank is a nightmare. They have stringent requirements and keep rejecting valid documents, making it incredibly frustrating for users to get verified and start trading.