Bitbank vs Binance: Fees, Coins, Safety Comparison
| Feature | Bitbank | Binance |
|---|---|---|
Overall |
2.0 |
4.8 |
2.6 |
4.5 |
|
2.3 |
4.8 |
|
1.9 |
5.0 |
|
Investment Instruments |
1 |
4.7 |
Platforms and Charting Tools |
2.4 |
4.9 |
Deposit and Withdrawal |
2.2 |
4.7 |
Research |
3.1 |
4.6 |
Education |
2.2 |
4.8 |
Support |
2.7 |
4.8 |
Bonuses |
1.6 |
4.2 |
|
Your capital is at risk.
|
Bitbank vs Binance: Pros and Cons
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.
The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit).
| Bitbank | Binance | |
|---|---|---|
| Overall Pros | dozens of popular cryptocurrencies and tokens are traded on the exchange; | Trading With Leverage up to 1:100 |
| trading fees are significantly lower than the market average; | Low Trading and Non-Trading Fees | |
| no minimum deposit, no deposit fees; | 10+ Account Fiat Currencies + 50 Crypto | |
| all funds of exchange clients are kept cold; | Derivatives, NFT, ETF are Available | |
| the exchange has a state-of-the-art security system for users’ data; | Indicators are Available | |
| there is a mobile application in addition to the terminal in the browser; | Passive Income With Staking and Mining Pool | |
| terminal and application include tools for market analysis. | Strong Research | |
| Overall Cons | absence of fiat currencies except for the Japanese yen; | No tier-1 regulation |
| there is no investment or referral program. |
Bitbank vs Binance: Safety and Regulation
| Regulated By: | Bitbank | Binance |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FSA Japan |
Registered as Digital Asset Service Provider (DASP) by Autorité des marchés financiers (AMF) |
Bitbank vs Binance: Trading Conditions
| Trading Conditions | Bitbank | Binance |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
TradingView |
Binance |
Max Leverage (Futures) |
44562 |
1-100 |
Number of Markets |
31+ |
1.358 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptos, JPY |
USD, EUR, GBP +10 fiat currencies, 50+ Cryptocurrencies |
Bitbank vs Binance: Fees
Trading Fees
| Fee | Bitbank | Binance |
|---|---|---|
Max Maker |
0 |
0.1% |
Max Taker |
0.12% |
0.1% |
Min Maker |
-0.02% |
0.012% |
Min Taker |
0 |
0.024% |
Debit/Credit Card Purchase Fee |
0 |
0.01 |
Futures Trading fees
| Fee | Bitbank | Binance |
|---|---|---|
Max Maker |
0 |
0.02% |
Max Taker |
0.12% |
0.04% |
Min Maker |
-0.02% |
0 |
Min Taker |
0 |
0 |
Non-Trading Fees
| Fee | Bitbank | Binance |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
550 yen / 770 yen (30,000 yen or more) |
1.5 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
0.0001 |
BTC Withdrawal Fee |
0.0006 BTC |
0.0001 BTC |
Inactivity Fee |
No |
No |
Bitbank vs Binance: Trading Assets
| Asset Name | Bitbank | Binance |
|---|---|---|
Overall |
16+ |
396+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
No |
Yes |
Binance Coin (BNB) |
No |
Yes |
Uniswap (UNI) |
No |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
No |
Yes |
Cardano (ADA) |
No |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
No |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
Yes |
Yes |
Crypto ETF |
No |
Yes |
Bitbank or Binance: Investment Programs
| Asset Name | Bitbank | Binance |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
Yes |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Trading Platforms: Binance or Bitbank
| Bitbank | Binance | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
Yes |
Yes |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Binance or Bitbank
| Bitbank | Binance | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Binance or Bitbank
| Bitbank | Binance | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Binance or Bitbank
| Bitbank | Binance | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Binance or Bitbank
| Bitbank | Binance | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
Yes |
Bitbank vs Binance: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Bitbank | Binance |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
Bitbank vs Binance: Research
| Research Type | Bitbank | Binance |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
Bitbank vs Binance: Education
| Education Type | Bitbank | Binance |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Binance vs Bitbank: Support
| Support Features | Bitbank | Binance |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
FAQs |
Telegram |
Bitbank vs Binance: Crypto Bonuses and Promo
| Promo | Bitbank | Binance |
|---|---|---|
Crypto Bonus |
Welcome bonuses |
No |
Affiliate Program |
No |
40% of the partner's trading commissions |
|
Your capital is at risk.
|
Top 5 Reviews on Binance
-
Comment
Binance has been super flexible when it comes to payment methods. It offers the usual mediums like bank deposit, debit card/credit card, crypto deposit, while also supporting newer ones like my favorite e-wallet. Integrating my e-wallet with my Binance account made all the withdrawals instant whenever I sell USDT in the P2P marketplace. The conversion rate is also attractive, making this method favorable to those who are frequently buying and selling on the platform. I withdraw money from them at least once a month and never experience delays. On a side note, I always use the same e-wallet account and had not tried doing it using bank transfers because of fees associated with doing so. There is no fee on this method so I prefer to use it over others.
-
Comment
Despite the growing number of reported hacks in the crypto space, I never once felt worried about using Binance as my crypto exchange. They have the most extensive security verification methods, and this makes me feel that trusting my funds with them is one of the best decisions I’ve made. Earlier this year I lost my phone number to which my Binance acct was connected and got very worried that my funds will be compromised. Turns out, it was easy to replace my old contact info with my new number, and they also suggested that I activate my 2-factor authentication for an extra layer of protection. I have also recently activated my passkeys for added security. All these years, Binance has been nothing but a trustworthy platform to me. I only trade crypto with them and nowhere else.
-
Comment
I created my account with Binance four years ago. It was during the middle of the crypto boom. I thought it was just a phase and would completely forget about it after the pandemic. But it turns out it is not :D. I still actively trade with the same account. Probably what made me stay is the ease of use, either when I am trading with the website or through the Binance app. Features in both platforms are easy to understand and use. I never had to consult YouTube videos as I normally do with my other brokerage accounts to figure out how a certain tool/button works. What you see is what you get. Never had issues with order execution, deposits, and withdrawals either which made the overall trading experience an excellent one all these years. I think Binance took over the crypto market easily for the same reason. It sold us the idea that trading is easy after all.
-
Comment
My experience with Binance has been predominantly positive. The platform's extensive cryptocurrency offerings, user-friendly interface, advanced trading features, and commitment to security make it a compelling choice for both novice and experienced traders alike.
-
Comment
Binance is the best cryptocurrency exchange for me. There is a very rich selection of cryptocurrency pairs, and many new tokens are added. The crypto rate is market-based, I checked with different exchanges, there is no big difference. With Binance, you can get a good return. I recommend the exchange.
Top 5 Reviews on Bitbank
-
Comment
Bitbank is a Japanese centralized crypto exchange. A good plus is that this exchange is registered in a well-known country. Minus - all volumes are only for the BTC/JPY pair. Moreover, trading volumes are very large. Fiat currencies include JPY, USD, and EUR. But there is no normal trading with these currencies. Bitbank is quite specific. Although you can trade cryptocurrency here too.
-
Comment
This is a dubious resource. The Bitbank exchange entices customers with cheap fees and favorable rates. But in reality, it's not like that at all. There are many hidden fees on this exchange, which you only find out about after the fact. Moreover, these fees can change, meaning the Bitbank exchange shamelessly increases fees when it suits them. I don't recommend dealing with this platform!
-
Comment
I didn't have a good experience with the Bitbank exchange. The processing of market orders is consistently delayed, and limit orders may not open at all. The exchange's website often freezes, making it impossible to access my account. Additionally, the conditions at Bitbank are not very suitable. Dealing with the Japanese currency is inconvenient, and there are excessively high fees for conversion.
-
Comment
I confidently say that Bitbank is a dishonest exchange. Cryptocurrency prices on this exchange are very different from prices on other exchanges. I always compare prices before opening a trade, and this is what I noticed: when Bitcoin rises or falls, Bitbank does not allow you to open an order based on market movements, and the quotes themselves remain in one place. It is impossible to trade and make money here normally.
-
Comment
I recently got acquainted with the Bitbank exchange. I read several reviews from clients who supposedly traded cryptocurrencies here and were satisfied. However, after I opened an account here and started trading, it turned out that the reviews were not accurate at all. Bitbank does not have a multitude of cryptocurrency pairs as mentioned in the reviews. Only four major cryptocurrencies are traded here against the Japanese currency. Also, if I don't have an account with a Japanese bank, I cannot work with fiat. Overall, it's a complete disappointment.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
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.