Bitbank vs Bitfinex: Fees, Coins, Safety Comparison
| Feature | Bitbank | Bitfinex |
|---|---|---|
Overall |
2.0 |
4.0 |
2.6 |
2.7 |
|
2.3 |
4.5 |
|
1.9 |
4.0 |
|
Investment Instruments |
1 |
4.6 |
Platforms and Charting Tools |
2.4 |
5.0 |
Deposit and Withdrawal |
2.2 |
3.9 |
Research |
3.1 |
4.3 |
Education |
2.2 |
5.0 |
Support |
2.7 |
4.8 |
Bonuses |
1.6 |
4.0 |
|
Your capital is at risk.
|
Bitbank vs Bitfinex: 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.
Bitfinex was founded in 2012 and is one of the oldest cryptocurrency exchanges in the world. The cryptocurrency platform is registered in the British Virgin Islands. More than 170 cryptocurrencies are available on the exchange, as well as cryptocurrency futures and NFT. The disadvantages of the exchange include numerous proceedings with U.S. regulators, as well as several major successful hacks.
| Bitbank | Bitfinex | |
|---|---|---|
| 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; | Derivatives are available | |
| no minimum deposit, no deposit fees; | Negative fees for large derivative traders | |
| all funds of exchange clients are kept cold; | Very essential discounts for LEO holders | |
| 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; | Strong research | |
| terminal and application include tools for market analysis. | Advanced trading platform | |
| Overall Cons | absence of fiat currencies except for the Japanese yen; | Several successful hacks |
| there is no investment or referral program. | Multiple regulatory fines in the US | |
| $10,000 minimum deposit in fiat currencies |
Bitbank vs Bitfinex: Safety and Regulation
| Regulated By: | Bitbank | Bitfinex |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FSA Japan |
No |
Bitbank vs Bitfinex: Trading Conditions
| Trading Conditions | Bitbank | Bitfinex |
|---|---|---|
Minimum Deposit |
$1 |
10,000 USD/EUR/GBP, 1,000,000 JPY, and 75,000 CNH |
Trading Platforms |
TradingView |
Bitfinex |
Max Leverage (Futures) |
44562 |
1-100 |
Number of Markets |
31+ |
397 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptos, JPY |
USD, EUR, GBP, CNH, JPY + cryptocurrencies |
Bitbank vs Bitfinex: Fees
Trading Fees
| Fee | Bitbank | Bitfinex |
|---|---|---|
Max Maker |
0 |
0.1% |
Max Taker |
0.12% |
0.2% |
Min Maker |
-0.02% |
0.0% |
Min Taker |
0 |
0.055% |
Debit/Credit Card Purchase Fee |
0 |
Not supported |
Futures Trading fees
| Fee | Bitbank | Bitfinex |
|---|---|---|
Max Maker |
0 |
0.02% |
Max Taker |
0.12% |
0.065% |
Min Maker |
-0.02% |
-0.0100% |
Min Taker |
0 |
0.0350% |
Non-Trading Fees
| Fee | Bitbank | Bitfinex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Crypto - free, Bank transfer 0.1% (minimum 60 USD/EUR) |
Bank Transfer Withdrawal Fee |
550 yen / 770 yen (30,000 yen or more) |
1% (minimum 60 USD/EUR) |
Debit/Credit Card Withdrawal Fee |
Not supported |
not allowed |
BTC Withdrawal Fee |
0.0006 BTC |
0.0004 |
Inactivity Fee |
No |
No |
Bitbank vs Bitfinex: Trading Assets
| Asset Name | Bitbank | Bitfinex |
|---|---|---|
Overall |
16+ |
170+ |
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 Bitfinex: Investment Programs
| Asset Name | Bitbank | Bitfinex |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
Crypto lending platform |
Trading Platforms: Bitfinex or Bitbank
| Bitbank | Bitfinex | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
Yes |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Bitfinex or Bitbank
| Bitbank | Bitfinex | |
|---|---|---|
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: Bitfinex or Bitbank
| Bitbank | Bitfinex | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Bitfinex or Bitbank
| Bitbank | Bitfinex | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Bitfinex or Bitbank
| Bitbank | Bitfinex | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
Yes |
Bitbank vs Bitfinex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Bitbank | Bitfinex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
No |
No |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
Bitbank vs Bitfinex: Research
| Research Type | Bitbank | Bitfinex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
Bitbank vs Bitfinex: Education
| Education Type | Bitbank | Bitfinex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Bitfinex vs Bitbank: Support
| Support Features | Bitbank | Bitfinex |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
FAQs |
No |
Bitbank vs Bitfinex: Crypto Bonuses and Promo
| Promo | Bitbank | Bitfinex |
|---|---|---|
Crypto Bonus |
Welcome bonuses |
No |
Affiliate Program |
No |
Up to 38% |
|
Your capital is at risk.
|
Top 5 Reviews on Bitfinex
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them WhatApp +1 (423) 248 - 2140
-
Comment
The customer support provided by Bitfinex is often slow and unresponsive, leaving users feeling frustrated and unsupported. I cannot recommend Bitfinex as a reliable or trustworthy crypto exchange option.
-
Comment
It’s great working here! Such professionals make trading calm and comfortable. Bitfinex has a good reputation.
-
Comment
I trust bitfinex, otherwise I wouldn’t work with it. Anyone can have complaints, like the users who wrote comments below. Tell the broker about them so that it can take action and, if possible, resolve the issue! If there were any problems at all, since I didn’t have any problems when trading here.
-
Comment
Trading on Bitfinex is not going well. And all the 6 months that I have been trading there, there have been constant delays in withdrawing funds. I had to wait 3 weeks, and 4. Then I met a friend who used to trade with them. And he said that he had the same situation. Nothing changed...
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.