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Bitbank basics for beginners: A comprehensive guide

Crypto exchanges offer various unique features that allow them to stand out from others. From the deposit and transaction fees and technical tools to its accessibility and ease of use, it can be hard to choose the best platform with every factor you have to consider.

Fortunately, traders like you who want the best experience don’t have to look any further than Bitbank exchange. Read through this Bitbank guide for beginners to discover the top-notch services that this top exchange platform offers.

What is Bitbank?

Launched in 2016, Bitbank is an exchange platform that allows users to trade Bitcoin and other cryptocurrencies with the Japanese yen. It also offers coin-to-coin trading, making it a great option for people who like to explore the different facets of trading.

Bitbank was founded by Noriyuki Hirosue and is based in Japan but it remains open to investors from all over the world. Although the platform mainly caters to Japanese traders, it is available to traders from any part of the globe and its website can be accessed in various languages including English, Chinese and Japanese.

To give its users accurate information, Bitbank exchange ensures that the charts and trade data are updated in real-time. Furthermore, the platform offers users an environment where they can conduct a full-scale analysis of the market using its advanced structures and more than 60 types of technical analysis tools.

How to use Bitbank

Aside from the exceptional trading platform that Bitbank provides, it also allows users to safely store their assets through its wallet service. Bitbank exchange accommodates all kinds of users by offering various ways to use their coins.

For instance, Bitbank users who wish to make local payments can use the Bitbank Register while online merchants have the option to make business transactions through Bitbank Pay.

Purchasing crypto

You can use the Japanese yen to purchase your desired cryptocurrencies through Bitbank. You just need to create an account first and verify your identity by providing your personal information and an ID picture.

Selling your coins

To sell your cryptocurrencies, you have to enter the amount of the currency. You have the option of indicating how you want your coins to be sold. After completing the information requirements, Bitbank’s system will proceed to search for traders interested in purchasing your assets.

Trading your assets

Bitbank specialises in trading where users can exchange their coins with other cryptocurrencies. Traders can hold onto their coins for a long period until the price appreciates or keep them for a short time and trade them immediately.

Why you should use Bitbank

Convenient to use

Bitbank has a user-friendly interface that enables beginners and experienced traders alike to trade smoothly. It is straightforward as well as easy to use and understand so you won’t have trouble navigating the platform.

Whether you’re using your mobile phone or desktop, you can easily access Bitbank in just a few clicks. It is specifically designed so that users can use the exchange site anywhere they are at any time of the day.

You don’t have to download or install any software or application before you can start trading. You can simply use any web browser and you’re good to go.

Top-notch security

Living up to its name as one of the most trusted exchange platforms, Bitbank has not received any complaints concerning security breaches, reports of hacking and any other safety issues since its establishment in 2014.

In addition, it is licenced by the Japanese Financial Services, proving that Bitbank exchange is a legitimate and credible platform that keeps your crypto coins safe and secure.

Bitbank is also up-to-date with the latest security features including two-factor authentication when signing in or creating an account. Aside from this, it uses SSL encrypted servers and supports both hot and cold wallet storage.

User transparency

All users of Bitbank exchange can access and download the dataset of the company. Through this, they can see the operations of the platform and the history of its predictive algorithms.

Supports numerous altcoins

Aside from Bitcoin, Bitbank exchange offers a wide range of cryptocurrencies such as Ripple, Litecoin, Ethereum, Monacoin and more. On the other hand, the most used liquid pairs in the exchange are Bitcoin to Japanese yen and Litecoin to Japanese yen.

Low transaction fees

One of the great things that set Bitbank exchange apart from other exchange sites is that it does not charge users and traders for using the platform. It only has a low fee of 0.15% per trade. Other than this, users can freely access the site services without any additional charges.

Easily accessible

Bitbank enables users to buy any of their available cryptocurrencies using the Japanese Yen. Users do not have to undergo any other registration processes as they can directly cash out from their bank account.

In case you need help navigating through their website or using their services, Bitbank exchange provides excellent customer support through an email ticket system that is available 24/7. It enables users to express their concerns with adequate details so that they can be given sufficient assistance.

Cryptocurrencies you can use in Bitbank

Bitbank lets you trade numerous cryptocurrencies anytime and anywhere you want. These currencies include the following:

  • Bitcoin
  • Litecoin
  • Ethereum
  • Ripple
  • Stellar Lumens
  • Monacoin
  • Bitcoin Cash
  • Qtum

Sign up in Bitbank to start trading!

Begin your journey to safe trading when you register in Bitbank. All you have to do is create an account on their website using your email address.

You will be given an authentication code through text message as part of the exchange platform’s security protocols. As an added measure of security against hacks and malware, you can use the two-step verification settings where you will scan a QR code using an authentication app.

Afterwards, the 6-digit authentication code that will appear on your screen will complete the verification process. Once you have completed this, you can freely explore the platform’s features and services.

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