Bitbank Cryptocurrency Exchange Review (2020)

Licensed by JFSA

The strongest side of Bitbank exchange is that it holds a license from the Japanese Financial Services Agency (JFSA), as required by local law. this brings a lot of credibility to the exchange, as regulated entities are few in the crypto-world and most exchanges operate in the grey area.

Fiat accepted, bank wire supported

As we have already said Bitbank works with Japanese yen (JPY), which means that its users can buy Bitcoin or Ripple with their local currency or cash out their coins directly in their bank account. This is an obvious advantage.

No trading fees

By the time of writing this, Bitbank does not charge market makers, nor market takers, which is really attractive offer. Otherwise, its fees are low, amounting up to 0.15% per trade. By comparison, Quoine, a major Japanese crypto-exchange, charges 0.25% per trade.

Deposits free of charge

It appears that Bitbank is a really low-cost crypto-exchange. Apart from currently not applying any trading fees, it also does not charge depositys, even fiat ones. Basically, its clients pay only for withdrawals out of the exchange.

Decent number of altcoins available

Apart from Bitcoin, Bitbank supports trading in Ethereum, Ripple, Litecoin, Bitcoin Cash and MonaCoin. By the time of writing this, the most liquid pairs at the exchange appear to be XRP/JPY and BTC/JPY.

Platform with advanced features

The web-based platform provided by Bitbank is mobile friendly and nicely designed. Besides, charting is provided by TradingView with more than 50 types of technical analysis indicators and more advanced features.