Bitbank.cc Review – All The Key Features and Investment Costs
Bitbank.cc company is owned by Bitbank Inc. With their first registration in Japan in 2016 they started offering crypto assets to domestic investors. Throughout the years, the company spread its activities through Asia.
Asian countries are known for their interest in advanced technologies. Knowing that crypto is one of the most known and most-advanced ones, they expanded really quickly. But let’s see if you can trust your money to this crypto exchange in our detailed Bitbank.cc review.
|Regulated by:||FSA Japan|
|Is This Company Safe?||Possible issues|
|Have Warnings from:||N/A|
|Free Demo Account:||No|
|How to Withdraw from This Company?||
You can request a withdrawal from Bitbank’s representatives or contact us in case you face any issues regarding this question.
Legal info: Is Bitbank.cc legit?
Generally speaking, the company is on the list of Financial Services Authority (Japan) registered companies. However, if you are coming from any other country it’s best to perform analysis domestically and potentially find better exchanges. Overall, the company is considered trusted. But after you read reviews about it you start wondering if everything will be fine.
The best way to protect yourself is to collect all the necessary information before investing any money. Once you know how to make an educated decision it makes your investment journey way easier and more interesting. For this reason, we invite you to check our ChaseTrades and 70Trades reviews.
Who are Bitbank.cc clients?
By checking the website traffic you can see that their clients are mainly coming from:
Important to realize is that the company doesn’t have any restricted countries. Before investing any money in a Bitbank wallet, check with your domestic regulator more about it. But if you need assistance in tracking your crypto feel free to contact us.
Another key point of this crypto exchange is its reviews. In fact, there are only 7 comments on Trustpilot. For 7 years of existence, it’s quite strange. However, almost 60% of those are with low ratings.
Check it out before you invest any money. But if you need assistance or advice for withdrawal, please consult with us.
Leverage, Commissions, Spreads, Fees and Taxes
Considering that this is a crypto exchange, there is no leverage. However, there are taker and maker fees. Taker is the one that picks up trading orders, while makers are creating those.
In this case, you can expect a 0.22% taker fee and a 0.178% maker fee. Also, for withdrawals you can expect a 0.00006 BTC fee. General fees are quite competitive. However, the withdrawal fee is not something Bitbank.cc company should be proud of.
Bitbank.cc Trading Features
On the positive side, people that completed Bitbank.cc download procedure is quite high. At least on PlayStore, there are more than 100K users. Even though the company only offers crypto, they have a $30M market cap in the last 24 hours.
Available Trading Assets
There are almost 40 different cryptocurrencies available with Bitbank.cc exchange. Yet, all the cryptos are pairs with JPY, instead of the US dollar. Overall, the company has quite solid tradeable instruments. However, not as much as some trusted competitors. Some of the available cryptos are:
Mobile Trading App
Bitbank.cc company has its own proprietary trading app. Most importantly it’s available for both iOS and Android devices. The company claims to provide advanced functionalities. Yet, there is no social or copy trading available.
Another key disadvantage is the lack of features for beginners, such as demo accounts. Even though they provide free insight into TradingView charts, you can’t try their features with virtual funds.
As for the educational part, beginners would lack the necessary options here as well. Unlike other licensed brokerages, you don’t have here any kind of educational package.
Also, there are no live sessions, webinars or trainings with specialists. Instead, you are on your own and you can only find information from third-party blogs.
Bitbank.cc funding methods are quite unusual. They only accept three options:
- GMO Aozora Net Bank
- Sumishin SBI Net Bank
- Virtual (digital) currencies
None of these methods are highly reliable for Bitbank.cc withdrawal. Primarily, because such transfers are irreversible. Also, withdrawals may take up to 2 business days and traders are responsible for network fees during withdrawal from Bitbank.cc account.
Important to realize is that Bitbank.cc support is quite poor. You can only contact them via the contact form on the website and chatbot. However, contacting their representatives directly is practically impossible.
Even though, they have active social networks you still don’t have live responses. Unlike other regulated brokers that have direct phone lines.
Key Information To Consider About Bitbank.cc
This company might be suitable for Asian investors. However, any other country should opt for domestic options. Primarily because of higher security standards and much more investment options. Also, some exchanges offer way lower withdrawal fees. Overall experience with this company might be turbulent according to some reviews. So, to avoid any headaches, the best option is to stick to the proven ones.
But if you had a hard time tracking and withdrawing your crypto with this or any other company, feel free to contact us. With our CipherTrace tool we can help you find your funds and start the refund process. Our first consultation is completely free and without any obligations. Book yours now!
What Is The Minimum Deposit in Bitbank cc?
With Bitbank.cc exchange investors can start as low as $1 but there is the minimum for trading with specific pairs.
Is Bitbank cc Safe?
After reviewing some of Bitbank.cc reviews some traders might find it non-suitable for their investments.
How Do I Withdraw Money From Bitbank cc?
The only withdrawal method is through virtual (digital) currencies. In general, withdrawals are requested through their mobile or desktop app.