Bitbank Exchange Review 2023: Japan’s Leading Cryptocurrency Exchange

Bitbank is a Japan-based cryptocurrency exchange which was launched back in 2016. Bitbank.cc is more than a simple trading platform as it is widely known as the Bitcoin bank and it was founded on the motto, “Bitcoin for Everyone”.  

Bitbank cryptocurrency exchange is best known for its dedicated features to Bitcoin (BTC), Litecoin (LTC) and limited but prominent crypto assets supported with native fiat currency JPY. Moreover, it also offers coin-to-coin trading option. Bitbank trading platform utilizes specialized trading tools, AI-based software, and sophisticated prediction algorithms to ensure the security, safety and profits for the traders and investors.

Bitbank crypto exchange is user-friendly and very easy to use. Its interface attracts both and novice traders as anyone can trade with basic knowledge. Moreover, more than 70 trading tools and trading view charts assist users in making a profitable trade.

Bitbank Supported Currencies

Bitbank.cc trading platform is ranked 37th out of 307+ cryptocurrencies due to its refined services. Bitcoin (BTC) and Litecoin (LTC) are the significant trading assets of the exchange. Apart from these signature trading assets, Bitbank exchange supports 30 other cryptocurrencies including the prominent digital assets of the crypto market.

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Monacoin (MONA), Bitcoin Cash (BCH), QTum (QTUM), Symbol (XYM) and a few other altcoins are available on Bitbank for trading and investing. Bitbank cryptocurrency exchange supported only JPY as a fiat currency and yarding pair.

Fee Structure

Bitbank differs from other cryptocurrencies in its economic fee structure. Bitbank’s fees benefit traders as they only pay a small portion of the fee upon withdrawals. Most exchanges charge for deposits and trading, but Bitbank doesn’t do that. Users only pay a small fee for withdrawals, 0.0001 BTC or 0.001 LTC per withdrawal. This is much lower than other competitive exchanges, so many traders prefer Bitbank.

Bitbank’s Mobile App

Most exchanges offer their services and best-working ecosystem on the website but Bitbank takes the lead in this scenario as Bitbank’s mobile application is the distinguishing feature of the exchange.

Also Read: Upbit Cryptocurrency Exchange Review: A Step-by-Step Guide for Beginners

Through Bitbank’s mobile application, customers feel free from the limits of time and place and they can navigate, trade and manage their digital assets anytime from anywhere. Bitbank’s mobile application is available for both iPhone and Android users.

Security of Bitbank Crypto Exchange

Bitbank.cc is a highly safe and secure cryptocurrency exchange as it is regulated by the Financial Services Agency of Japan (JFSA). Since the exchange was launched, not even a single incident of scam, hack or security breach has been reported till now.

For security concerns, Bitbank exchange utilized two-factor authentication, SSL encrypted servers for transactions, logins, and cold and hot wallets.  Along with security, it is also known for its fairness as it equally offers the same services to all customers. Moreover, users can download all the relevant datasheets to look at the exchange’s performance. Bitbank cryptocurrency exchange offers complete and high-level transparency.

Customer Support Services

Bitbank offers a ticket system as a part of customer support services. Bitbank’s ticketing system is available 24/7 to assist customers and for better services. The help centre page of the exchange has a segment of ‘frequently asked questions’, where customers can find the answers to their ambiguities. If that doesn’t work for your query, you can contact the customer service centre at any time.

Pros and Cons

Pros

• User-friendly and easy to use
• Crypto assets are stored in cold storage
• Comparatively a better fee structure
• Offer price prediction algorithms and market insights

Cons

• Limited set of services
• Only support JPY as a fiat currency
• Doesn’t totally operate in the US

Concluding Remarks

Bitbank cryptocurrency exchange offers excellent trading, investing and customer services. It provides insights for Bitcoin (BTC) and Litecoin (LTC) trading. The platform is well-designed with many tools. Bitbank is reliable and trustworthy with competitive fees. It only supports Japanese Yen for fiat currency, but that’s not a problem for crypto trading. Do your complete research and look for the services according to you before selecting an exchange.