Bitbank vs Kraken: Fees, Coins, Safety Comparison
| Feature | Bitbank | Kraken |
|---|---|---|
Overall |
2.0 |
4.5 |
2.6 |
4.8 |
|
2.3 |
4.1 |
|
1.9 |
4.5 |
|
Investment Instruments |
1 |
3.7 |
Platforms and Charting Tools |
2.4 |
4.5 |
Deposit and Withdrawal |
2.2 |
4.0 |
Research |
3.1 |
4.3 |
Education |
2.2 |
4.2 |
Support |
2.7 |
4.3 |
Bonuses |
1.6 |
2.0 |
|
Your capital is at risk.
|
Bitbank vs Kraken: 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 Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| Bitbank | Kraken | |
|---|---|---|
| Overall Pros | dozens of popular cryptocurrencies and tokens are traded on the exchange; | 2 FA authentication |
| trading fees are significantly lower than the market average; | Low minimum deposit | |
| no minimum deposit, no deposit fees; | Passive income with staking | |
| all funds of exchange clients are kept cold; | Regulated in several countries | |
| the exchange has a state-of-the-art security system for users’ data; | Minimum maker fee $0 | |
| there is a mobile application in addition to the terminal in the browser; | Over 50 indicators and 16 drawing tools | |
| terminal and application include tools for market analysis. | ||
| Overall Cons | absence of fiat currencies except for the Japanese yen; | NFTs are not available |
| there is no investment or referral program. |
Bitbank vs Kraken: Safety and Regulation
| Regulated By: | Bitbank | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FSA Japan |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
Bitbank vs Kraken: Trading Conditions
| Trading Conditions | Bitbank | Kraken |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
TradingView |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
44562 |
1:5 |
Number of Markets |
31+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptos, JPY |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
Bitbank vs Kraken: Fees
Trading Fees
| Fee | Bitbank | Kraken |
|---|---|---|
Max Maker |
0 |
0.16% |
Max Taker |
0.12% |
0.26% |
Min Maker |
-0.02% |
0 |
Min Taker |
0 |
0.1% |
Debit/Credit Card Purchase Fee |
0 |
3.75% + $0.25 |
Futures Trading fees
| Fee | Bitbank | Kraken |
|---|---|---|
Max Maker |
0 |
0.02% |
Max Taker |
0.12% |
0.05% |
Min Maker |
-0.02% |
0 |
Min Taker |
0 |
0.01% |
Non-Trading Fees
| Fee | Bitbank | Kraken |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
$0-$10 |
Bank Transfer Withdrawal Fee |
550 yen / 770 yen (30,000 yen or more) |
4-35 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
3.75% + $0.25 |
BTC Withdrawal Fee |
0.0006 BTC |
0.00001 BTC |
Inactivity Fee |
No |
No |
Bitbank vs Kraken: Trading Assets
| Asset Name | Bitbank | Kraken |
|---|---|---|
Overall |
16+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
No |
Yes |
Binance Coin (BNB) |
No |
No |
Uniswap (UNI) |
No |
Yes |
Ripple (XRP) |
Yes |
For non US Users |
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 |
No |
Bitbank or Kraken: Investment Programs
| Asset Name | Bitbank | Kraken |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Trading Platforms: Kraken or Bitbank
| Bitbank | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
Yes |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or Bitbank
| Bitbank | Kraken | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Kraken or Bitbank
| Bitbank | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or Bitbank
| Bitbank | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or Bitbank
| Bitbank | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
Bitbank vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Bitbank | Kraken |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
No |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
Bitbank vs Kraken: Research
| Research Type | Bitbank | Kraken |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Bitbank vs Kraken: Education
| Education Type | Bitbank | Kraken |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs Bitbank: Support
| Support Features | Bitbank | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
FAQs |
No |
Bitbank vs Kraken: Crypto Bonuses and Promo
| Promo | Bitbank | Kraken |
|---|---|---|
Crypto Bonus |
Welcome bonuses |
No |
Affiliate Program |
No |
up to $1000 per refferal |
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
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.