Bitbank is a Japanese exchange where cryptocurrencies like Litecoin and Fiat money (exclusive for Japanese YEN) are both offered. The website could be a challenge to navigate as it doesn’t have any option for an English translation. Nevertheless, we were able to gather these steps to help you start trading Litecoin on Bitbank. We advise that you pay attention to the icon beside each description to make sure you are making the right selection.
To get started, open the Bitbank site. If it is easier, you can download Bitbank’s mobile app on the App Store or Google Play.
After loading the page, you can either click on “Open a free account” or Sign up.”
You will then be asked to verify the captcha. Click on “Verify” to submit.
Bitbank will send an authentication email to the email address you are trying to register.
Access your Inbox and look for the Bitbank message. The message will give you an option to translate the texts. Click on the link that says “View translated message.”
Click on the authentication link.
You will be routed to the Bitbank log in page where you need to enter your email address, reconfirm it, check the three boxes if you’ve agreed Bitbank’s terms and conditions, then log in.
After logging in, click on the “man” icon and select the same icon at the lower-left hand corner of the page to start filling out the registration form.
Click on the green box next to the “man” icon.
Enter the basic information like your name, location, and date of birth on the registration page.
After entering the basic information, click the “Next” button.
Enter the “Purpose of Transaction” and “Occupation,”. Also, confirm if you are an “Important foreign official.”
* If you fall under “Foreign Important Public Citizen”, Bitbank cannot accept account opening.
Click on the “Confirm” button to continue.
Double check the information that you entered and click on “Register” to proceed.
Get ready with a valid Identification card when verifying your identity on Bitbank. Click on the box where you need to upload your ID picture.
Select the type of ID you have from the drop-down menu.
Select your Driver’s license, Passport, or Resident basic register card (Residence card), depending on which document is available.
*In the case of “My number card”, select “Resident Register Basic Card” and upload only the front side.
Upload the front portion of your ID.
Then, upload the back area.
Click on the “Register with this content” button to begin uploading your document.
The status of you the verification process will then reflect as “Completed.”
What is 2FA?
Two-factor authentication, also known as 2FA, is an extra layer of security or added protection which we refer to as multi-factor authentication. Not only the username and password are required but also a piece of information that only a user possesses. This process is to confirm a user’s claimed identity.
The 2FA process helps lessen the number of identity theft cases and as well as phishing via email. It would be harder for potential intruders to gain access and steal someone’s identity and personal data without that piece of information that only the account owner knows.
In the case of exchanges, what the user has are his/her login details such as the username and password. The form of 2FA that a user possesses for this instance is a token or code. The code can be received either through SMS on a user’s mobile phone or via applications like Google Authenticator or Authy.
To activate 2FA on Bitbank, click on the “shield” icon and select on the second option.
Scan the QR code to generate the six-digit code and click on “Submit.”
Since you have completed the account confirmation and verification process, it’s time to add money on your Bitbank account. We’ve mentioned that you have the option to add cryptocurrencies like Litecoin or Fiat money, however, the only available Fiat money currency is YEN.
In this example, we are using both Bitcoin and YEN.
We are using Bitbank’s mobile version here. Click on the main menu at the upper-right hand portion of the page.
Click on the Fifth option from the top.
Select on “deposit” next to the currency of your choice.
Attach the wallet address or scan the QR code to generate a new one.
For Fiat money deposit (YEN), click on “deposit” next to the currency.
The deposit number is your customer ID. Scroll down the page and check the “Name of client requiring payment” stated in the middle of the screen. Follow the instructions provided by the system and fill out the needed information required for you to continue depositing Japanese YEN on your account.
Note: The process of name transfer varies depending on the financial institution.
Finally, you can start buying your first Litecoin on Bitbank using the funds you’ve deposited!
Go to the Trading view of the page to check the Markets available on Bitbank and select your currency.
Go to the “Buy” area of the Trading page and enter your desired amount. Next, click on “Buy.”
Recent and all transactions are available at the bottom area of the Trading page.
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