bitbank

Overview of Bitbank

Bitbank is a virtual currency exchange company based in Japan. It was founded in 2014 and is registered with the Financial Services Agency (FSA) of Japan. The company offers a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more.

Bitbank provides a maximum leverage of 4x for trading. It offers both web-based platforms and a mobile app for convenient trading on the go. Deposits and withdrawals can be made in Japanese yen (JPY) as well as various cryptocurrencies.

Pros & Cons

Bitbank has several advantages that make it a viable option for virtual currency trading.

Firstly, the company is registered with the Financial Services Agency (FSA) of Japan, ensuring that it follows regulatory standards and operates within the legal framework.

Secondly, bitbank offers a wide range of cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more. This allows users to have a diverse portfolio and access to various digital assets, increasing their trading options.

Furthermore, bitbank provides a maximum leverage of 4x for trading. This feature can potentially enhance profits, but it is important for users to be aware of the increased risk that comes with leverage trading and exercise caution.

On the other hand, there are also some drawbacks to using bitbank. One limitation is that the platform only supports deposits and withdrawals in Japanese yen (JPY) and cryptocurrencies. This may not be ideal for users who prefer to use other fiat currencies or payment methods.

Additionally, although bitbank offers educational resources such as materials, tutorials, and market analysis, the extent and depth of these resources may vary. Some users may find that they need to consult additional sources or seek further guidance to fully understand virtual currency trading.

Regulation

Bitbank is regulated by the Financial Services Agency (FSA) of Japan. The company has obtained a digital currency license from the FSA, and its license name is “ビットバンク株式会社”. The regulation number assigned to bitbank by the FSA is “関東財務局長 第00004号”. This indicates that bitbank is operating its virtual currency exchange services within the regulatory framework set by the FSA.

These licenses reflect bitbank's compliance with regulatory requirements in different jurisdictions and underscore its commitment to operating within established legal frameworks.

Security

Bitbank offers both hot wallets and cold wallets for storing cryptocurrencies.

Hot wallets are connected to the internet, which makes them more convenient to use for trading and sending cryptocurrencies. However, they are also more vulnerable to hacking attacks. Bitbank's hot wallets are stored in a secure environment with multiple layers of security, including firewalls, intrusion detection systems, and two-factor authentication.

Trading Market

Bitbank, a prominent Japanese cryptocurrency exchange, provides a diverse array of trading assets encompassing major cryptocurrencies and a variety of altcoins. Among the major cryptocurrencies supported are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Stellar (XLM), NEM (XEM), EOS (EOS), TRON (TRX), VeChain (VET), Tether (USDT), and USD Coin (USDC). These assets represent a spectrum of functionalities, from global payments to decentralized applications and smart contracts.

In addition to these major players, Bitbank supports an extensive list of altcoins, including Aave (AAVE), Algorand (ALGO), Chainlink (LINK), Maker (MKR), and many others. This diverse range allows users to explore and engage with emerging projects and technologies.

Bitbank facilitates trading in fiat currencies like Japanese yen (JPY), US dollars (USD), and euros (EUR). This broadens the trading options for users who prefer dealing in traditional currencies.

Trading on Bitbank occurs in pairs, enabling users to exchange one asset for another. The platform also offers margin trading, allowing users to trade with borrowed funds, potentially amplifying profits but also introducing higher risks.

Overall, Bitbank's comprehensive offering of major cryptocurrencies, altcoins, fiat currencies, and trading features positions it as a versatile and suitable platform for both novice and experienced traders in the dynamic world of cryptocurrency.

Cryptocurrencies Available

Bitbank currently offers 29 cryptocurrencies for trading:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Bitcoin Cash (BCH)

• Ripple (XRP)

• MonaCoin (MONA)

• Tether (USDT)

• EOS (EOS)

• Stellar (XLM)

• NEM (XEM)

• Dash (DASH)

• Monero (XMR)

• NEO (NEO)

• ZCash (ZEC)

• Qtum (QTUM)

• Bitcoin Gold (BTG)

• Augur (REP)

• 0x (ZRX)

• Ethos (ETHOS)

• Kyber Network (KNC)

• Request Network (REQ)

• Status (SNT)

• Civic (CVC)

• BAT (BAT)

• Ontology (ONT)

• VeChain (VET)

Bitbank also offers a number of fiat currency pairs, including JPY, USD, and EUR.

The cryptocurrencies available on Bitbank may change over time, as the exchange adds new cryptocurrencies and removes others. You can check the Bitbank website for the latest list of available cryptocurrencies.

Bitbank APP

The Bitbank app is a mobile app that allows you to trade cryptocurrencies and fiat currencies on the Bitbank exchange. The app is available for both iOS and Android devices.

The Bitbank app offers a variety of features, including:

• Real-time market data: See the latest prices for all of the Bitbank trading assets.

• Order placement: Place buy and sell orders for cryptocurrencies and fiat currencies.

• Order management: Manage your existing orders, including modifying or canceling them.

• Portfolio tracking: Track your portfolio performance and see the value of your holdings.

• Price alerts: Set up price alerts to be notified when the price of a particular asset reaches a certain level.

To download the Bitbank app, simply visit the App Store or Google Play and search for “Bitbank”. Once you have found the app, tap the “Get” or “Install” button to download it.

Here are the steps on how to download the Bitbank app:

• Go to the App Store or Google Play.

• Search for “Bitbank”.

• Tap the “Get” or “Install” button to download the app.

• Once the app is downloaded, open it and create an account.

• Once you have created an account, you can start trading.

How to Open an Account？

To open an account on Bitbank, follow these six steps:

• Visit the Bitbank Website:

• Go to the official Bitbank website: https://bitbank.cc/

• Select “Sign Up” Option:

• Locate the “Sign Up” or “Register” button on the homepage and click on it.

• Fill in Personal Information:

• Provide the required information, including your email address, a secure password, and any other details requested by the registration form.

• Verify Email Address:

• After submitting the registration form, you'll receive a verification email at the provided email address. Click on the verification link within the email to confirm your registration.

• Complete Identity Verification:

• Log in to your newly created Bitbank account and complete the identity verification process. This may involve providing additional personal information and submitting verification documents as per the platform's requirements.

• Fund Your Account:

• Once your identity is verified, deposit funds into your Bitbank account. The platform typically supports deposits in various cryptocurrencies and fiat currencies. Check the available options on the platform for funding.

After completing these steps, you should have a fully registered and funded Bitbank account, ready to start trading cryptocurrencies on the platform. Be sure to follow any additional instructions or security measures provided by Bitbank during the registration process.



How to Buy Cryptos

To buy crypto on Bitbank, follow these steps:

PC

• Go to the Bitbank website and log in to your account.

• Click on the “Trade” button in the top menu.

• Select the cryptocurrency you want to buy from the list of assets on the left side of the page.

• Enter the amount of cryptocurrency you want to buy and the price you are willing to pay in the order form on the right side of the page.

• Click on the “Buy” button to place your order.

• Once your order is executed, your cryptocurrency will be deposited into your Bitbank wallet.

App

• Open the Bitbank app and log in to your account.

• Tap on the “Trade” button in the bottom menu.

• Select the cryptocurrency you want to buy from the list of assets on the screen.

• Tap on the “Buy” button.

• Enter the amount of cryptocurrency you want to buy and the price you are willing to pay.

• Tap on the “Buy” button to place your order.

• Once your order is executed, your cryptocurrency will be deposited into your Bitbank wallet.

Note: To buy crypto on Bitbank, you will need to deposit Japanese yen (JPY) into your account. You can do this using a bank transfer or a credit card.



Fee

Bitbank charges fees for a variety of services, including:

Spot trading: Bitbank charges a maker fee of 0.12% and a taker fee of 0.2%.

Margin trading: Bitbank charges a margin fee of 0.08% per day.

Futures trading: Bitbank charges a futures fee of 0.02% per day.

Fiat currency deposits and withdrawals: Bitbank charges a fee of 3.5% for fiat currency deposits and 2.5% for fiat currency withdrawals.

Staking: Bitbank charges a staking fee of 25% of the rewards earned.

Bitbank also charges a small fee for API calls. The fee is 0.3 JPY per call for the first 10,000 calls in a day, and then 0.01 JPY per call for each additional call.

Here is a table showing the fees charged by Bitbank:

Spot fee	0.12% (Maker), 0.2% (Taker)
Margin fee	0.08% per day
Futures fee	0.02% per day
Deposits and withdrawals fee	3.5% (deposits), 2.5% (withdrawals)
Staking fee	25% of the rewards earned
API calls fee	0.3 JPY per call for the first 10,000 calls in a day, then 0.01 JPY per call for each additional call

Funding method

Bitbank supports deposits and withdrawals in both Japanese yen (JPY) and cryptocurrencies. Users can deposit funds into their bitbank accounts by using bank transfers or cryptocurrency transfers. For JPY deposits, users can initiate bank transfers from their personal bank accounts to the specified bitbank bank account.

	Minimum deposit/times	Required number of approvals
JPY	none	-
BTC (Bitcoin)	0.001	Twice
LTC (Litecoin)	0.001	6 times
XRP (Ripple)	0.1	6 times
ETH (Ethereum)	0.001	24 times
MONA (Monacoin)	0.01	100 times
BCC (Bitcoin Cash)	0.001	20 times

Compare to Other Cryptocurrency Exchanges

Exchange
Fees	0.12%	0.012%-0.10%	0.20%
Cryptos Available	29+	350+	700+
Website	https://bitbank.cc/en/	https://www.BINANCE.com/en	https://www.huobi.com/en-us/

• bitbank

Bitbank is a reputable and secure cryptocurrency exchange that offers a wide variety of features and benefits.

• Huobi

Ideal for users prioritizing security, compliance, and seeking opportunities to earn passive income through staking and investment products.

• Coinbase

Suited for beginners due to its user-friendly interface and simple buying options. It is also a preferred choice for users in regions with stringent regulations, as Coinbase emphasizes regulatory compliance.

Ultimately, the best crypto exchange for an individual trader will depend on their specific trading style, preferences, and needs.

Educational Resources

Bitbank provides a robust set of educational resources to assist users in understanding cryptocurrency markets and making informed investment decisions. The platform offers a dedicated section for educational content, including market news, columns, and a comprehensive cryptocurrency glossary.

The “Cryptocurrency Glossary” serves as a valuable resource for users to familiarize themselves with industry-specific terminology, enhancing their understanding of the cryptocurrency landscape. This feature is particularly useful for beginners seeking to grasp key concepts and terms.

The “Market Information” section includes real-time market data for various trading pairs, enabling users to stay updated on price movements, trading volumes, and percentage changes. This information is crucial for making timely and well-informed trading decisions.

The “Column” section provides in-depth articles covering a range of topics, including market analysis, technical analysis, and insights into market trends. These articles, written by industry experts, contribute to users' knowledge base and help them navigate the dynamic cryptocurrency market.

Overall, Bitbank's educational resources aim to empower users with the knowledge needed to navigate the cryptocurrency space confidently. Whether it's through market insights, glossary definitions, or expert columns, Bitbank strives to support users at different levels of expertise in their crypto journey.



Customer Support

Bitbank offers customer support through various channels, including a dedicated customer service email address (support@bitbank.cc). Users can reach out for assistance, inquiries, or issue resolution. While specific details about response times or additional support features are not provided, the availability of an email contact suggests a commitment to addressing user concerns. Additionally, users may find updates and announcements on the company's Twitter (https://twitter.com/bitbank_inc/) and Facebook (https://www.facebook.com/bitbank.inc/) pages, enhancing communication and transparency between the platform and its users.



Is Bitbank a Good Exchange for You？

Bitbank is the best exchange for altcoin traders because it offers a wide range of altcoins, including many lesser-known coins that are not available on other exchanges. This makes Bitbank a good choice for traders who want to trade altcoins.

Bitbank is a good choice for a variety of target groups, including beginner traders, experienced traders, Japanese residents, altcoin traders, margin traders, and day traders.

• Beginner traders: Bitbank offers a variety of features that make it a good choice for beginner traders, such as a user-friendly interface, educational resources, and low trading fees.

• Experienced traders: Bitbank also offers a variety of features for experienced traders, such as margin trading, advanced order types, and real-time market data.

• Japanese residents: Bitbank is a Japanese cryptocurrency exchange, so it is a good choice for Japanese residents who want to trade cryptocurrency.

Conclusion

Bitbank offers a diverse range of cryptocurrencies, making it a compelling choice for traders. The platform's adherence to regulatory standards and offering a maximum leverage of 4x are notable advantages. However, limitations include supporting only JPY and cryptocurrencies for deposits and withdrawals. While Bitbank provides security measures like hot and cold wallets, the extent of educational resources may vary. Overall, Bitbank's comprehensive trading options and regulatory compliance position it as a versatile platform, though users should be mindful of its specific features and potential limitations.

Bitbank User Review

User 1:

The liquidity is good, and they offer a wide variety of cryptocurrencies. Customer support is responsive and helpful, and the trading fees are low. I would definitely recommend Bitbank to anyone looking for a reliable and secure crypto exchange.

User 2:

The security is good, the fees are reasonable, and the liquidity is decent. However, I've had a few issues with the customer support and the interface.

FAQs

Q: How do I open a Bitbank account？

A: Visit https://bitbank.cc/, click “Sign Up,” provide info, verify email, complete ID check, and fund your account.

Q: What cryptocurrencies can I trade on Bitbank？

A: Bitbank supports 29 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and more. Check the current list on their website.

Q: How secure is Bitbank？

A: Bitbank ensures security with protected hot wallets and additional security measures like firewalls and two-factor authentication.

Q: What are Bitbank's trading fees？

A: Fees vary—0.12% maker fee, 0.2% taker fee for spot trading. Margin trading has a 0.08% daily fee. Fiat deposits have a 3.5% fee, and withdrawals have a 2.5% fee.

Q: How do I buy cryptocurrencies on Bitbank？

A: On PC, log in, click “Trade,” select crypto, fill order details, and click “Buy.” On the app, tap “Trade,” select, enter details, and tap “Buy.” Ensure JPY is deposited.

Q: What regulations does Bitbank follow？

A: Bitbank is regulated by the Japanese FSA, ensuring compliance with legal standards.

Q: Does Bitbank offer leverage trading？

• A: Yes, Bitbank provides a maximum leverage of 4x for trading. However, users should be cautious due to increased risk.

Q: What features does the Bitbank app have？

• A: The Bitbank app offers real-time market data, order placement and management, portfolio tracking, and price alerts for iOS and Android devices. Download from App Store or Google Play, create an account, and start trading.