bitFlyer Review: Everything You Should Know?

The Japanese-based cryptocurrency exchange bitFlyer review, which is now accessible to Americans, is renowned for its top-notch security. It offers both beginner-friendly and sophisticated trading platforms, allowing you to buy and sell Bitcoin (BTC), Ethereum (ETH), and a few other significant cryptocurrencies.
bitFlyer Review

This exchange is safe and simple to use, but it has few features and a limited range of cryptocurrencies. To find out if bitFlyer meets your needs, read our evaluation.

bitFlyer Features

bitFlyer does not offer as many cryptocurrencies to trade as some of the other leading exchanges, but the ones they do offer are highly liquid. The main cryptocurrency traded at bitFlyer is Bitcoin which can be purchased with Japanese Yen for Japanese clients and USD for American clients. Also, Bitcoin can be exchanged for the other cryptocurrencies they offer which include Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Monacoin (MONA), and Lisk (LSK).

The Ethereum cryptocurrency can also be used to exchange these other cryptos as well. While the range of digital assets is small with bitFlyer, the exchange offers fiat currency pairs which are rare among the most popular cryptocurrency exchanges.

Security and Fairness

bitFlyer Review

bitFlyer is a highly competent, trusted, and secure cryptocurrency exchange. They are one of the few cryptocurrency exchanges that are legally registered and regulated by reputable regulatory authorities. As well the exchange implements the latest in security technologies such as Multi-sig Bitcoin security, SSL communication, SHA-256 technology, Google two-factor authentication, and Anti Money Laundering (AML), and Know Your Customer (KYC) policies. These things among many other security features and protocols, ensure that bitFlyer is a safe and fair cryptocurrency exchange.

Support

bitFlyer Review

Another area bitFlyer excels in is customer support. The website has an extensive support page with a search bar and categories for accessing informative and helpful information. If users can’t find what they’re looking for there, support representatives can be contacted through an email form on the contact page. Response times are fairly quick, and the representatives are professional and friendly.

Pros and Cons

Pros

  • Extremely easy to use and navigate
  • Very high liquidity
  • Licensed and regulated
  • Two trading platforms

Cons

  • Credit Card transactions are only available in Japan
  • A limited number of digital assets (cryptocurrencies)

bitFlyer Fees

Unlike many other cryptocurrency exchanges, bitFlyer does not utilize maker/taker fees. Instead, it charges different amounts depending on whether you use the Lightning Exchange advanced trading platform or the instant buy platform.

Opening an account with bitFlyer is FREE!

Account Creation FeeFree
Account Maintenance FeeFree
Virtual Currency Deposit FeeFree
Bitcoin (BTC) Withdrawal Fee0.0004 BTC
Ethereum (ETH) Withdrawal Fee0.005 ETH
Bitcoin Cash (BCH) Withdrawal Fee0.0002 BCH
Ethereum Classic (ETC) Withdrawal Fee0.005 ETC
Litecoin (LTC) Withdrawal Fee0.001 LTC
Monacoin (MONA) Withdrawal FeeFree
Lisk (LSK) Withdrawal Fee0.1 LSK
Basic Attention Token (BAT) Withdrawal Fee5 BAT
Stellar Lumens (XLM) Withdrawal FeeFree
Tezos (XTZ) Withdrawal Fee0.1 XTZ
Polkadot (DOT) Withdrawal Fee0.1 DOT

Trading Fees

Past 30 day volume1Lightning Spot3Buy/Sell
€0 – Less than €50,0000.10%FREE2
€50,000 – Less than €500,0000.09%
€500,000 – Less than €1 million0.08%
€1 million – Less than €5 million0.07%
€5 million – Less than €10 million0.06%
€10 million – Less than €50 million0.05%
€50 million – Less than €500 million0.04%
Over €500 million0.03%

1 Your trading fee rate is calculated daily between 00:00 and 00:10 AM (JST).

2 Fees may be negotiated based on volume and trade frequency.

3 Fees for our ETH/BTC trading board are 0.00% as part of a promotional campaign. You will be informed when these will return to our normal Lightning Spot fees.

EUR Deposits and Withdrawals

SEPA DepositsFree
SEPA Withdrawals€0.30 for ≤ €250,000.00
€10.00 for > €250,000.00
PayPal DepositsWithin EEA (European Economic Area).
4.9% + €0.35 PayPal fees per transaction

Outside EEA (European Economic Area).
4.9% + 1% + €0.35 PayPal fees per transaction

JPY Deposits and Withdrawals

DepositsNot available
WithdrawalsNot available

Like most crypto exchanges, bitFlyer’s trading fees depend on the investor’s previous 30-day trading volume. Trades made on the Lighting Exchange incur the fees listed on the table below:

30-Day Volume (USD)Fee
Less than $50,0000.10%
$50,000 to $500,0000.09%
$500,000 to $1 million0.08%
$1 million to $5 million0.07%
$5 million to $10 million0.06%
$10 million to $50 million0.05%
$50 million to $500 million0.04%
Over $500 million0.03%

If you buy and sell cryptocurrency on the instant buy platform, bitFlyer advertises the trades as “free,” but that’s not really true. The platform assesses a fee of between 0.1% and 6.0% on the purchase and sales prices displayed on the buy/sell displays. If you aren’t careful when you buy or sell your crypto this way, your trades on bitFlyer’s instant platform could be significantly more expensive than similar trades on other exchanges, even pricy beginner-friendly platforms like Coinbase and Gemini.

There are no fees for ACH deposit or withdrawal from a U.S. bank, nor is there a fee for a wire deposit. However, wire withdrawals may incur a hefty $20 fee.

If you choose to move your cryptocurrency off of the bitFlyer exchange, like if you wanted to store your coins in a Bitcoin wallet disconnected from the internet, you’ll also be hit with withdrawal fees. If you anticipate wanting or needing to move substantial amounts of crypto off of an exchange, a platform like Gemini, with a certain number of free withdrawals per month, may be a better fit.

Bitcoin (BTC) Withdrawal Fee0.0004 BTC
Ethereum (ETH) Withdrawal Fee0.005 ETH
Ethereum Classic (ETC) Withdrawal Fee0.005 ETC
Litecoin (LTC) Withdrawal Fee0.001 LTC
Bitcoin Cash (BCH) Withdrawal Fee0.0002 BCH

Cryptocurrencies on bitFlyer

BitFlyer currently supports the following cryptocurrencies:

Bitcoin (BTC)
Ethereum (ETH)
Ethereum Classic (ETC)
Bitcoin Cash (BCH)
Litecoin (LTC)

Glossary

bitFlyer Review

Bitcoin Glossary

Glossary of terms related to the Bitcoin setup

Glossary of terms related to Bitcoin transactions

Virtual currencies other than Bitcoin

Glossary of terms related to Bitcoin exchange

Conclusion

Both novice and experienced traders may consider using the bitFlyer exchange for their bitcoin trading. The two trading platforms offered on the website are appropriate for the target audiences. While there aren’t many digital assets available for trading, there are fiat currency pairs, futures markets, and margin trading are all open to investors. It’s also vital to understand that the exchange is authorized and subject to regulation to conduct business in both Japan and the United States.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

bitFlyer Review: Everything You Should Know?

The Japanese-based cryptocurrency exchange bitFlyer review, which is now accessible to Americans, is renowned for its top-notch security. It offers both beginner-friendly and sophisticated trading platforms, allowing you to buy and sell Bitcoin (BTC), Ethereum (ETH), and a few other significant cryptocurrencies.
bitFlyer Review

This exchange is safe and simple to use, but it has few features and a limited range of cryptocurrencies. To find out if bitFlyer meets your needs, read our evaluation.

bitFlyer Features

bitFlyer does not offer as many cryptocurrencies to trade as some of the other leading exchanges, but the ones they do offer are highly liquid. The main cryptocurrency traded at bitFlyer is Bitcoin which can be purchased with Japanese Yen for Japanese clients and USD for American clients. Also, Bitcoin can be exchanged for the other cryptocurrencies they offer which include Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Monacoin (MONA), and Lisk (LSK).

The Ethereum cryptocurrency can also be used to exchange these other cryptos as well. While the range of digital assets is small with bitFlyer, the exchange offers fiat currency pairs which are rare among the most popular cryptocurrency exchanges.

Security and Fairness

bitFlyer Review

bitFlyer is a highly competent, trusted, and secure cryptocurrency exchange. They are one of the few cryptocurrency exchanges that are legally registered and regulated by reputable regulatory authorities. As well the exchange implements the latest in security technologies such as Multi-sig Bitcoin security, SSL communication, SHA-256 technology, Google two-factor authentication, and Anti Money Laundering (AML), and Know Your Customer (KYC) policies. These things among many other security features and protocols, ensure that bitFlyer is a safe and fair cryptocurrency exchange.

Support

bitFlyer Review

Another area bitFlyer excels in is customer support. The website has an extensive support page with a search bar and categories for accessing informative and helpful information. If users can’t find what they’re looking for there, support representatives can be contacted through an email form on the contact page. Response times are fairly quick, and the representatives are professional and friendly.

Pros and Cons

Pros

  • Extremely easy to use and navigate
  • Very high liquidity
  • Licensed and regulated
  • Two trading platforms

Cons

  • Credit Card transactions are only available in Japan
  • A limited number of digital assets (cryptocurrencies)

bitFlyer Fees

Unlike many other cryptocurrency exchanges, bitFlyer does not utilize maker/taker fees. Instead, it charges different amounts depending on whether you use the Lightning Exchange advanced trading platform or the instant buy platform.

Opening an account with bitFlyer is FREE!

Account Creation FeeFree
Account Maintenance FeeFree
Virtual Currency Deposit FeeFree
Bitcoin (BTC) Withdrawal Fee0.0004 BTC
Ethereum (ETH) Withdrawal Fee0.005 ETH
Bitcoin Cash (BCH) Withdrawal Fee0.0002 BCH
Ethereum Classic (ETC) Withdrawal Fee0.005 ETC
Litecoin (LTC) Withdrawal Fee0.001 LTC
Monacoin (MONA) Withdrawal FeeFree
Lisk (LSK) Withdrawal Fee0.1 LSK
Basic Attention Token (BAT) Withdrawal Fee5 BAT
Stellar Lumens (XLM) Withdrawal FeeFree
Tezos (XTZ) Withdrawal Fee0.1 XTZ
Polkadot (DOT) Withdrawal Fee0.1 DOT

Trading Fees

Past 30 day volume1Lightning Spot3Buy/Sell
€0 – Less than €50,0000.10%FREE2
€50,000 – Less than €500,0000.09%
€500,000 – Less than €1 million0.08%
€1 million – Less than €5 million0.07%
€5 million – Less than €10 million0.06%
€10 million – Less than €50 million0.05%
€50 million – Less than €500 million0.04%
Over €500 million0.03%

1 Your trading fee rate is calculated daily between 00:00 and 00:10 AM (JST).

2 Fees may be negotiated based on volume and trade frequency.

3 Fees for our ETH/BTC trading board are 0.00% as part of a promotional campaign. You will be informed when these will return to our normal Lightning Spot fees.

EUR Deposits and Withdrawals

SEPA DepositsFree
SEPA Withdrawals€0.30 for ≤ €250,000.00
€10.00 for > €250,000.00
PayPal DepositsWithin EEA (European Economic Area).
4.9% + €0.35 PayPal fees per transaction

Outside EEA (European Economic Area).
4.9% + 1% + €0.35 PayPal fees per transaction

JPY Deposits and Withdrawals

DepositsNot available
WithdrawalsNot available

Like most crypto exchanges, bitFlyer’s trading fees depend on the investor’s previous 30-day trading volume. Trades made on the Lighting Exchange incur the fees listed on the table below:

30-Day Volume (USD)Fee
Less than $50,0000.10%
$50,000 to $500,0000.09%
$500,000 to $1 million0.08%
$1 million to $5 million0.07%
$5 million to $10 million0.06%
$10 million to $50 million0.05%
$50 million to $500 million0.04%
Over $500 million0.03%

If you buy and sell cryptocurrency on the instant buy platform, bitFlyer advertises the trades as “free,” but that’s not really true. The platform assesses a fee of between 0.1% and 6.0% on the purchase and sales prices displayed on the buy/sell displays. If you aren’t careful when you buy or sell your crypto this way, your trades on bitFlyer’s instant platform could be significantly more expensive than similar trades on other exchanges, even pricy beginner-friendly platforms like Coinbase and Gemini.

There are no fees for ACH deposit or withdrawal from a U.S. bank, nor is there a fee for a wire deposit. However, wire withdrawals may incur a hefty $20 fee.

If you choose to move your cryptocurrency off of the bitFlyer exchange, like if you wanted to store your coins in a Bitcoin wallet disconnected from the internet, you’ll also be hit with withdrawal fees. If you anticipate wanting or needing to move substantial amounts of crypto off of an exchange, a platform like Gemini, with a certain number of free withdrawals per month, may be a better fit.

Bitcoin (BTC) Withdrawal Fee0.0004 BTC
Ethereum (ETH) Withdrawal Fee0.005 ETH
Ethereum Classic (ETC) Withdrawal Fee0.005 ETC
Litecoin (LTC) Withdrawal Fee0.001 LTC
Bitcoin Cash (BCH) Withdrawal Fee0.0002 BCH

Cryptocurrencies on bitFlyer

BitFlyer currently supports the following cryptocurrencies:

Bitcoin (BTC)
Ethereum (ETH)
Ethereum Classic (ETC)
Bitcoin Cash (BCH)
Litecoin (LTC)

Glossary

bitFlyer Review

Bitcoin Glossary

Glossary of terms related to the Bitcoin setup

Glossary of terms related to Bitcoin transactions

Virtual currencies other than Bitcoin

Glossary of terms related to Bitcoin exchange

Conclusion

Both novice and experienced traders may consider using the bitFlyer exchange for their bitcoin trading. The two trading platforms offered on the website are appropriate for the target audiences. While there aren’t many digital assets available for trading, there are fiat currency pairs, futures markets, and margin trading are all open to investors. It’s also vital to understand that the exchange is authorized and subject to regulation to conduct business in both Japan and the United States.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

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