BitBank Review 2024

Our veredict

Bitbank, a Japan-based cryptocurrency exchange established in 2014, stands out due to its competitive fee structure and user-friendly interface. The exchange primarily caters to the Japanese market, offering trading pairs with the Japanese Yen (JPY). It supports several major cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH), making it an attractive option for Japanese residents. Bitbank’s platform is known for its robust security measures, including SSL encryption, two-factor authentication, and both cold and hot wallet storage. The exchange also boasts high liquidity and offers instant deposits via bank transfers, which are convenient for local users​.
However, Bitbank’s appeal might be limited for international users. The exchange’s services and website are predominantly designed for the Japanese market, with limited support for global fiat currencies and a smaller selection of tradable cryptocurrencies compared to other exchanges. Additionally, some users have reported issues with hidden fees and occasional website performance problems, such as delays in order processing and site freezes. Despite these drawbacks, Bitbank remains a solid choice for Japanese traders looking for a regulated and secure platform.

Pros

Cons

3,6

Threenvest Score

Fees

0.12% (Maker), 0.15% (Taker)

U.S Legal

No

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose BitBank?

Bitbank is an excellent choice for cryptocurrency trading, particularly for users based in Japan. One of its most significant advantages is its regulatory compliance with the Japanese Financial Services Agency (JFSA). This regulation ensures that Bitbank operates under strict security and financial standards, providing peace of mind to its users regarding the safety of their funds. Additionally, Bitbank has never experienced a security breach since its inception in 2014, showcasing its robust security measures, including SSL encryption and two-factor authentication​.
Another compelling reason to choose Bitbank is its competitive fee structure. Unlike many other exchanges that charge fees for deposits and trades, Bitbank only imposes withdrawal fees. This transparent fee structure is particularly advantageous for frequent traders who can save significantly on transaction costs over time. The exchange also offers high liquidity for its supported cryptocurrencies, which include major assets like Bitcoin, Ethereum, and Litecoin. High liquidity ensures that users can execute trades quickly and efficiently, minimizing the risk of price slippage​.
Furthermore, Bitbank provides a user-friendly trading platform that caters to both beginners and experienced traders. The platform integrates advanced charting tools from TradingView, allowing users to perform detailed technical analyses. The interface is designed to be intuitive, making it easy for users to navigate and execute trades. Additionally, Bitbank supports instant deposits via bank transfers, adding to the convenience for Japanese users. The combination of these features makes Bitbank a reliable and efficient platform for anyone looking to trade cryptocurrencies securely and cost-effectively.
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EIP and Cryptocurrency Investor

As an expert, I recommend Bitbank for traders looking for a secure and user-friendly platform. Its regulation by the Japanese Financial Services Agency (JFSA) provides an added layer of trust and security, which is crucial in the volatile world of cryptocurrency. The competitive fee structure, which only includes withdrawal fees, makes it a cost-effective choice. Additionally, the platform’s high liquidity ensures smooth trading experiences, while its intuitive interface and advanced charting tools cater to both beginners and seasoned traders. For Japanese residents, Bitbank stands out as a top choice for reliable and efficient crypto trading.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.