Bitbank vs SimpleSwap

Bitbank3.1/5

VS

SimpleSwap4.1/5

Feature	BitbankVisit	SimpleSwapVisit
Ratings
Our score	3.1/5	4.1/5
User rating	No reviews yet	No reviews yet
Fees	3.0	3.0
Security & trust	3.5	4.0
Asset selection	3.0	5.0
Ease of use	3.0	4.5
Support	3.0	4.0
Specs
Markets	Spot	Spot
Coins listed	Not disclosed	2,800
Fiat deposit methods	Bank transfer	Card
KYC required	Yes	No
Accepts US customers	No	Not disclosed
Mobile app	Yes	Yes
Licenses & registrations	Japan JFSA / KLFB No. 00004	Not disclosed
Security features	Cold storage, Multi-signature wallets, Two-factor authentication	Non-custodial architecture, Direct wallet settlements
Futures & perpetuals	No	No
Copy trading	No	No
P2P market	No	No
Referral program	Not disclosed	Yes
Company
Founded	2014	2018
Headquarters	Japan	—
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Operates under Japanese Financial Services Agency regulatory registration Comprehensive REST and WebSocket streaming APIs for algorithmic execution Direct bank integration for Japanese yen deposits and withdrawals Continuous operational track record dating back to 2014	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates
Cons	Strictly restricted onboarding primarily focused on Japanese residents Mandatory KYC identity verification before any trading or deposit activity No derivatives, perpetual contracts, or margin leverage products offered Fiat processing relies on domestic Japanese banking schedules and maintenance	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification
Best for	Japanese crypto traders, Algorithmic spot traders, JPY fiat-to-crypto market participants	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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