BitBank - bitbank.com REVIEW, TRADING VOLUME AND PAIRS
Bitbank is a Japanese cryptocurrency exchange that is focused mostly on domestic Japanese investors. Among fiat currencies, only Yen is represented here, and the official website Bitbank.com is available only in the Japanese language. Company was registered in May 2014, which makes it quite a mature project, by the standards of the crypto-industry. Bitbank Inc. is a member of several professional institutions, including the Japanese Association of Cryptocurrency Exchanges and the Blockchain Promotion Association.
The platform offers a very limited list of cryptocurrencies. At the time of writing the review, these pairs are available on the platform:
The first two pairs account for just under 90% of the total trading volume. The daily trading volume on the exchange is just under $ 27 million per day. This is not much, by standards of the largest market players, but enough to provide the necessary liquidity.
Interface, trading, and commission fees
The exchange interface is only available in the Japanese language, so non-residents of Japan will have difficulties working with the exchange. However, if you use the Chrome browser, you can activate the automatic translation system and read more about Bitbank.
Transparency is one of the advantages of the exchange. Here you can see the Contact Us button, which will allow you to directly contact the support service.
At the top of the homepage, you can see the menu, which includes the most interesting section for us - "Trades". Here the user will find a standard trading cabinet with charts from Trading View, order book, and forms for opening orders to buy and sell currency.
As for the commission fee, it is quite high here and is 0.12% for buyers and 0.02% for sellers of the cryptocurrency. At that, deposits are not subject to a commission, and the exchange charges a fixed amount for withdrawal of funds, which is unique for each individual coin.
Considering the exchange interface is not translated into languages other than Japanese, many traders from Europe and America will find it very difficult to work here. And because of high commissions, there's no use in trading here. It would be of interest to residents of Japan since the trades are conducted in relation to the Japanese Yen. All other potential customers should pay attention to other platforms. Even the positive reputation of Bitbank.com and the declared high level of security does not make this platform attractive for traders. We know for sure that one should not store large amounts hare since no one can guarantee that your funds will safe.