Bitbank is a new cryptocurrency exchange service offering their clients highly accurate and reliable market insights for the trading of Bitcoin and Litecoin. Bitbank achieves these market insights through the analyzation of market news and research, as well as from their sophisticated prediction algorithms and advanced artificial intelligence software.
Also, Bitbank is so much more than an exchange and market insights platform. Bitbank features a ‘wallet service’ for storing Bitcoin and Litecoin, a ‘Bitbank Register’ service for local payments at various merchants, and a ‘Bitbank Pay’ service for online businesses. With all these services, Bitbank’s goal and motto are ‘Bitcoin for Everyone”.
The virtual currency is not a “legal currency” that the country guarantees its value like the Japanese yen or the dollar. It is electronic data exchanged on the Internet. The virtual currency may change in price. The price of the virtual currency may plunge or suddenly become worthless. Virtual Currency Exchangers need to be registered with the Financial Services Agency. They are a registered virtual currency exchange company.
|Number of currencies handled
||Over 8 types
Bitbank Account Registration Method
- First, click “Sign Up” in the upper right corner from the Bitbank top page
- Then set up your email address and password.
- After setting the mail address and password, click “Get code”
- Since an e-mail code is sent to the registered e-mail address.
- If you click “Get code”, there is a time limit of 60 seconds, so let’s input within 60 seconds.
- Finally, check the agreement of the terms of service and check “Sign Up” and register your account with Bitbank .
Bitbank Exchange Platform
The Bitbank exchange platform is a proprietary web-based trading platform which is fully compatible with all desktop and mobile devices. The exchange platform is quite advanced and utilizes charting from TradingView which has over 50 technical indicators and numerous analysis tools built into it.
Traders have the ability to conduct real-time price analysis on their own as well as to use the prediction data generated from the algorithms and artificial intelligence software. Users can place their orders based on the market data and indicators provided to them or simply on their own analysis. The platform is truly unique and advanced with their market insights and analysis features.
Pros and Cons
- Extremely easy to use and navigate
- Cryptos are held in cold storage
- Very low fees
- Market insights and prediction algorithms
- Limited customer service options
- Only supported fiat currency is the Japanese Yen
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.
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.
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.
Strong Securiuty & Fairness
The Bitbank exchange is a highly secure and safe cryptocurrency exchange as they are regulated by the JFSA. Since their establishment in 2014, Bitbank has never had any reported hackings or loss of funds. The exchange implements the latest security features such as SSL encrypted servers, two-factor-authentication for logins and transactions, and both cold and hot wallet storage.
As well, each user is treated equally with the same services available to them. Every user has the ability to download all of the company’s datasets to see the historical performance of the predictive algorithms. This provides users with a high level of transparency.
Bitbank Launched in March 2017, is a Japanese crypto-exchange that is typically in the top 40 of exchanges rated by their trading volume. It appears to have many strong sides the most important of which is the fact that it is duly licensed by the Japan’s Financial Services Agency.
Japan became the first country to introduce regulation of cryptocurrencies and exchanges on a national level, thus confirming its position as a Bitcoin pioneer.Furthermore, the cryptocurrencies and Bitcoin in particular, are widely accepted in Japan as a valid payment method for various goods and services.
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