Review on Bitbank by Olugbenga Ajayi
Bitbank exchange is reputable, safe and transparent
While most exchanges have decided to move out of Japan in other to avoid the stringent regulation of the Japanese financial services agency, Burbank is one of the good ones that want things to be done properly. The exchange is Fully licensed and regulated. As a matter of fact, this is what I used to consider first in an exchange this is because personally an exchange that is not licensed is not legal and anything can happen in terms of mismanagement of funds, loss of funds and many more. For this Bbank should be commended.
Bitbank is majorly a two cryptos exchange. It features only litecoin and Bitcoin and no flat currencies. I will love an exchange with transparency and legal backing like this to add more assets both cryptos and flat in the future.
The exchange is also laudable for their low fees. It is good to know that this exchange does not charge any fee on takers and makers and no deposit fee. The only fee charged is withdrawal fee which is rather too low compared to what other in the industry charge. Imagine charging only 0.0001 BTC or 0.001 LTC. This is very encouraging.
I also love their security architecture. I am not surprised by this knowing fully already that it actually passed the test of JFSA. No wonder we can find many security features like 2FA, SSL encryption and even the use of cold storage.
Pros
- It is regulated and licensed by the reputable JFSA
- Customers enjoy 24/7 support
- The exchange is very safe and secure with several security features
Cons
- They need to add more digital and flat assets
- It doesn't have a downloadable app
- Withdrawal fee is low
- It does not charge trading fee
- It has several trading tools like chart and many custom indicators
