Bitbank

Bitbank Review

What is Bitbank?

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.

Bitbank Mobile Support

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.

US-investors

Bitbank does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still perform their own analysis of whether their home state imposes any legal obstacles to them trading at any of the top crypto exchanges that could be the best cryptocurrency exchange site for them.

Bitbank Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Bitbank:

Bitbank Fees

Bitbank Trading fees

Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. Bitbank charges 0.12% for takers and -0.02% for makers.

According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.221% and the average spot trading maker fee is currently 0.178%.

Compared to those average trading fees, Bitbank's taker fees and maker fees are very competitive.

Bitbank Withdrawal fees

Bitbank charges a withdrawal fee amounting to 0.0006 BTC when you withdraw BTC. This is a bit above the global industry average, being 0.00053 BTC per BTC-withdrawal according to this report performed by us here at Cryptowisser.com.

Deposit Methods

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.