UPDATE 28 December 2020: This exchange is no longer active under the name Bankera, but has rebranded into SpectroCoin Exchange. While the exchange is not dead per se, we have decided to move it to our Exchange Graveyard (with the reason being "Voluntary Shutdown") to avoid confusion.
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A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Bankera consists of four parts: general info, fees, deposit methods and security.
Bankera is a crypto exchange based in the British Virgin Islands. Out of all exchanges in our Exchange List, there are a few others registered there (TOKOK, Infinity Coin Exchange, YunEx and Bybit). But, as you know, when it comes to crypto trading, the world is your playing field and the home of the exchange doesn’t really matter that much.
The exchange promotes that it has “top-level security, transparent order book and low fees”. These aspects are all very relevant in our opinion.
As many other exchanges, Bankera does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an exchange accepting US-investors.
Bankera Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at Bankera:
Bankera Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being executed. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by rewarding the makers of that liquidity with a fee discount.
Bankera’s trading fees for takers are 0.10%. This fee is a bit below the global industry average. The global industry average is arguably around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
But the taker fees are not even this platform’s strongest edge. At the Bankera-exchange, makers don’t pay any fees at all (0.00%). Naturally, this is a great deal for the makers in the trades at this exchange.
Bankera Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average (arguably 0.000812 BTC per BTC-withdrawal) and thus constitutes a competitive advantage in the market.
For a few of the cryptos though (4 out of 10 supported cryptos), Bankera charges a percentage based withdrawal fee. These cryptos are XRP, XLM, LTC and ZEC. The withdrawal fee when withdrawing these is 0.15%. Having a percentage based withdrawal fee model is unusual, but it is not unheard of. Most exchanges only have a fixed withdrawal fee, regardless of the size of the withdrawn amount. With the fee model that this exchange has for XRP, XLM, LTC and ZEC, when you withdraw small amounts, it is beneficial to you. The opposite applies for larger withdrawals. You should consider yourself whether this withdrawal fee suits your own trading or not.
All in all, the fees charged by Bankera are competitive.
At this exchange, you can not deposit fiat currency. This means that new crypto investors (i.e., those without any previous crypto holdings) can’t trade here. In order to purchase your first cryptos, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!