Bitbank is a Japanese cryptocurrency exchange launched in 2016. It specializes in trading Bitcoin and other cryptocurrencies for the Japanese yen (JPY). The exchange has its server centers located in Japan and is fully licensed by the Japan Financial Services Agency (JFSA).
The trading platform is the most invested cryptocurrency exchange and is mainly used by the Japanese due to the acceptability of the Japanese currency JPY, which allows traders and investors to make a deposit using their bank account and withdraw funds directly to their bank
Bitbank was licensed and regulated by the Japan Financial Services Agency, making it a centralized exchange.
This platform is one of the most popular in Japan, and is among the top 100 in the Asian region due to the high trading volume. The platform has an attractive interface for all kinds of users, with a good design and easy management of its services.
Bitbank offers bank transfer as a deposit method, but credit cards are not allowed. However, since the exchange generally accepts deposits in fiat currencies, it differs from many exchanges that only allow deposits in cryptocurrencies.
Although Bitbank only supports Japanese local money, and the website supports two languages, the marketplace has many trading features that encourage traders.
The platform is also available as a mobile app if, for whatever reason, you prefer to trade cryptocurrency somewhere else rather than on your computer. The app, as usual, is available for both iPhone and Android phones.
The support service works around the clock and seven days a week.
Bitbank Trading Fees
- Trading Fee
Bitbank's trading fee for takers are 0.15%. This fee is slightly below the industry average. The industry average is probably around 0.25%.
The producer's commission is -0.05%, which means that producers are rewarded for providing liquidity to the trading platform.
- Withdrawal fee
Bitbank charges a withdrawal fee of 0.0001 BTC when withdrawing BTC.
Bitbank applies a banking layer of security, as well as many security features such as 2FA, SSL encryption, and even the use of cold storage, and is regulated and licensed by the reputable JFSA.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.