Bitbank vs PaxFul: Fees, Coins, Safety Comparison
| Feature | Bitbank | PaxFul |
|---|---|---|
Overall |
2.0 |
4.1 |
2.6 |
3.9 |
|
2.3 |
4.5 |
|
1.9 |
3.2 |
|
Investment Instruments |
1 |
4.1 |
Platforms and Charting Tools |
2.4 |
3.4 |
Deposit and Withdrawal |
2.2 |
5.0 |
Research |
3.1 |
2.5 |
Education |
2.2 |
5.0 |
Support |
2.7 |
3.9 |
Bonuses |
1.6 |
2.0 |
|
Your capital is at risk.
|
Bitbank vs PaxFul: 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 Paxful exchange is a peer-to-peer trading platform for Bitcoin, Tether, and Ethereum trading instruments. There are over 350 ways to buy and sell these cryptocurrencies. The company has its offices in 21 countries and has almost 5 million active users. A free cryptocurrency wallet, which is provided when registering on the exchange, is among the distinctive features. The security system is based on a safekeeping account, where the funds of the seller and the buyer shall be reserved to avoid the dishonesty of one of the parties.
| Bitbank | PaxFul | |
|---|---|---|
| Overall Pros | dozens of popular cryptocurrencies and tokens are traded on the exchange; | Low P2P fees |
| trading fees are significantly lower than the market average; | The platform is fully localized and translated into 21 languages | |
| no minimum deposit, no deposit fees; | Hundreds payment methods, from bank transfers to e-wallets; | |
| all funds of exchange clients are kept cold; | Over 12 thousand reliable sellers and buyers | |
| the exchange has a state-of-the-art security system for users’ data; | Free Bitcoin wallet with BitGo is enabled; | |
| there is a mobile application in addition to the terminal in the browser; | Pafull pay for business | |
| terminal and application include tools for market analysis. | You change Bitcoin for any services and goods | |
| Overall Cons | absence of fiat currencies except for the Japanese yen; | Limited number of suported coins - only ETH, BTC, USDT |
| there is no investment or referral program. | Limited analytics and educatioin |
Bitbank vs PaxFul: Safety and Regulation
| Regulated By: | Bitbank | PaxFul |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FSA Japan |
No |
Bitbank vs PaxFul: Trading Conditions
| Trading Conditions | Bitbank | PaxFul |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
TradingView |
Paxful |
Max Leverage (Futures) |
44562 |
1:1 |
Number of Markets |
31+ |
100+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptos, JPY |
BTC, USDT, ETH, 100+ fiat currencies for exchange |
Bitbank vs PaxFul: Fees
Trading Fees
| Fee | Bitbank | PaxFul |
|---|---|---|
Max Maker |
0 |
1% for sellers, 0% for buyers |
Max Taker |
0.12% |
1% for sellers, 0% for buyers |
Min Maker |
-0.02% |
1% for sellers, 0% for buyers |
Min Taker |
0 |
1% for sellers, 0% for buyers |
Debit/Credit Card Purchase Fee |
0 |
1% for sellers, 0% for buyers |
Futures Trading fees
| Fee | Bitbank | PaxFul |
|---|---|---|
Max Maker |
0 |
not supported |
Max Taker |
0.12% |
not supported |
Min Maker |
-0.02% |
not supported |
Min Taker |
0 |
not supported |
Non-Trading Fees
| Fee | Bitbank | PaxFul |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
550 yen / 770 yen (30,000 yen or more) |
1% for sellers, No for buyers |
Debit/Credit Card Withdrawal Fee |
Not supported |
1% for sellers, No for buyers |
BTC Withdrawal Fee |
0.0006 BTC |
0.0004 for sending BTC, 0 for recieving BTC |
Inactivity Fee |
No |
No |
Bitbank vs PaxFul: Trading Assets
| Asset Name | Bitbank | PaxFul |
|---|---|---|
Overall |
16+ |
3 coins |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
No |
Dogecoin (DOGE) |
No |
No |
Binance Coin (BNB) |
No |
No |
Uniswap (UNI) |
No |
No |
Ripple (XRP) |
Yes |
No |
Polkadot (DOT) |
No |
No |
Cardano (ADA) |
No |
No |
Stellar (XLM) |
Yes |
No |
IOTA (MIOTA) |
No |
No |
Tron (TRX) |
No |
No |
Derivatives (Futures) |
Yes |
No |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
Bitbank or PaxFul: Investment Programs
| Asset Name | Bitbank | PaxFul |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
Paxful earn |
Trading Platforms: PaxFul or Bitbank
| Bitbank | PaxFul | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
Yes |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: PaxFul or Bitbank
| Bitbank | PaxFul | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
No |
Filters |
Yes |
No |
Technical Analysis: PaxFul or Bitbank
| Bitbank | PaxFul | |
|---|---|---|
Indicators |
Yes |
not supported |
Drawing tools |
Yes |
not supported |
Historical Trades |
Yes |
not supported |
Live 2 Quotes |
Yes |
not supported |
Mobile trading: PaxFul or Bitbank
| Bitbank | PaxFul | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: PaxFul or Bitbank
| Bitbank | PaxFul | |
|---|---|---|
Market |
Yes |
No |
Limit |
Yes |
Yes |
Stop Loss |
No |
No |
Stop Limit |
No |
No |
Trailing Stop |
No |
No |
Bitbank vs PaxFul: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Bitbank | PaxFul |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
Bitbank vs PaxFul: Research
| Research Type | Bitbank | PaxFul |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Bitbank vs PaxFul: Education
| Education Type | Bitbank | PaxFul |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
PaxFul vs Bitbank: Support
| Support Features | Bitbank | PaxFul |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
FAQs |
No |
Bitbank vs PaxFul: Crypto Bonuses and Promo
| Promo | Bitbank | PaxFul |
|---|---|---|
Crypto Bonus |
Welcome bonuses |
No |
Affiliate Program |
No |
Up to 50% of refferall trading fees |
|
Your capital is at risk.
|
Top 5 Reviews on PaxFul
-
Comment
My experience with Paxful has been negative, marred by unreliable customer support, security concerns, and high fees. The lack of protection for users' assets is unacceptable and undermines trust in the platform as a safe and reliable marketplace for buying and selling cryptocurrencies. As a client, I cannot in good conscience recommend Paxful to others, and I would advise anyone considering using the platform to proceed with caution and explore alternative options that offer a more reliable and user-friendly experience.
-
Comment
I opened a mini account in this scam, worked out a strategy and what a blessing that I first decided to test the withdrawal technology before opening a normal trading account. Now I put everything that was there on the withdrawal, namely $ 500! They can't even return the money!
-
Comment
Initially, I did not plan to trade on Paxful for a long time, it was interesting to try and compare the conditions with my then exchange. I registered, quickly passed the verification (so that, if anything, quickly withdraw the deposit) and replenished the account. There is no demo, but it is not needed with such and such minimum requirements: just a dollar is enough to deposit. On the plus side, there are many ways to replenish. But the base currency here is XBT, and I had to get confused. In terms of trade - an average option. I would not say that Paxful is very different from its competitors. There are really no analytics, and trading here is mainly due to three cryptocurrencies. Three! I won’t say that Paxful is a bad exchange, but I didn’t find anything interesting here for myself.
-
Comment
I support positive reviews about Paxful. The first thing that caught my eye when visiting this P2P platform is an intuitive interface, presented in 21 languages. This means that the company is open to cooperation with traders from different countries. And now, 2 years after registering on this site, I understand that the first impression was not deceptive. I am satisfied with the cooperation with the Paxful exchanger, if not for 100%, then for 99% for sure. Trading here is comfortable, there are no technical failures, so the execution of transactions is always on top. Honestly, I'm not surprised that the pool of buyers/sellers on Paxful is growing every day.
-
Comment
Paxful simply does not fail you. I registered on this exchanger following a recommendation from a friend. To be honest, I wouldn't have noticed it myself. It does not appear in the leaders, the trade turnover is quite modest. Well, it is understandable, only three cryptocurrencies were listed - bitcoin, ethereum and tezer. When I started working with this P2P platform, I realized why it was being praised. There is a really large pool of buyers and sellers here (according to rumors, the services of this crypto exchange are used by about 12 thousand people). At first, I traded on Paxful and on other platforms at the same time, but now I completely abandoned them.
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.