Bitbank Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Bitbank trading signals. You will learn what kinds of trading signals Bitbank offers and what the conditions for using them are.
Short introduction of Bitbank
Bitbank is a marketplace for buying and selling cryptocurrencies. You can trade Bitcoin (₿), Ethereum (Ξ), Bitcoin Cash, MonaCoin, Stellar Lumen, OMG, and dozens of other crypto assets. The only fiat currency represented is the Japanese yen (JPY). Funds can be deposited through the most popular channels, including direct fiat transfers from a bank card. The exchange is known for one of the lowest rates of trading commissions: 0.12% for the taker, and -0.02% for the maker. There are no deposit fees, and withdrawal fees are also low. There is no minimum deposit, and registration and verification take a minimum amount of time. The exchange does not have specialized solutions for beginners, and investment and referral programs are not offered. From the position of the interface, experts estimate the platform as one of the most convenient and well-thought-out.
| 💰 Account currency: | Cryptos, JPY |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptos, JPY |
| 💹 Margin Call / Stop Out: | No |
Bitbank Pros and Cons
👍 Advantages of trading with Bitbank:
•dozens of popular cryptocurrencies and tokens are traded on the exchange;
•trading fees are significantly lower than the market average;
•no minimum deposit, no deposit fees;
•all funds of exchange clients are kept cold;
•the exchange has a state-of-the-art security system for users’ data;
•there is a mobile application in addition to the terminal in the browser;
•terminal and application include tools for market analysis.
👎 Disadvantages of Bitbank:
•absence of fiat currencies except for the Japanese yen;
•there is no investment or referral program.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Bitbank Trading Signals
Bitbank has one of the lowest trading commissions in the global cryptocurrency market. The maker’s fee is -0.02%, meaning that the trader who creates trades from this position receives a bonus payment from the exchange. The taker’s fee is 0.12%. All commissions are fixed, the asset, transaction volume, and the user's total trading volume do not affect them. The only option that affects the fee from the taker is to reduce it by using the rebates from the Traders Union.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Up to 0.12% per order | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bitbank does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.