bitFlyer Review & Rating 2023

bitFlyer offers a variety of products and services to help users make the most of their trading experience. These include:

- A user-friendly interface: The platform is designed to be simple and easy to use, even for those who are new to the world of cryptocurrency trading.

- A variety of payment methods: bitFlyer offers a variety of payment methods, including bank transfer, credit/debit card, and cryptocurrency.

- A wide range of digital assets: The platform supports a wide range of digital assets, including Bitcoin, Ethereum, Litecoin, and more.

- A variety of features and tools: bitFlyer provides a variety of features and tools to help users make the most of their trading experience. These include charts, a news feed, and more.

Cryptocurrencies available on bitFlyer

Buy/Sell Bitcoin (BTC)

Buy/Sell  Ethereum (ETH)

Buy/Sell Bitcoin Cash (BCH)

Buy/Sell Litecoin (LTC)

Buy/Sell Ripple (XRP)

Buy/Sell Monacoin (MONA)

Buy/Sell Polka Dot

Buy/Sell Tezos

Buy/Sell Stella Lumens 

Buy/Sell Ethereum Classic 

Buy/Sell Basic Attention Token 

Bitcoin (BTC) is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin is a decentralised peer-to-peer electronic cash system that does not require a central authority, such as a bank or government, to issue new money or keep track of transactions.

Ethereum (ETH), a decentralised platform, runs smart contracts. Applications that work exactly as they were programmed are free from fraud and third-party interference. Ethereum is a decentralised platform for smart contracts. Applications that work exactly as they were programmed are available without the possibility of fraud or interference from third parties.

Bitcoin Cash (BCH), a cryptocurrency that was created from a fork in Bitcoin, was launched on August 2017. Bitcoin Cash allows for more transactions by increasing the block size.

Litecoin (LTC) is a cryptocurrency created in October 2011 by former Google engineer Charles Lee. Litecoin is similar to Bitcoin in many ways, but it has faster transaction times and a different mining algorithm.

Ripple is a real time gross settlement system (RTGS), currency trade and remittance network that was created by Ripple Labs Inc, a US technology company. Ripple uses a distributed open-source protocol and can support tokens that represent fiat currency, cryptocurrency or other units such as mobile minutes or frequent flyer miles.

Monacoin (MONA) is a Japan-based cryptocurrency project launched in December 2013. Monacoin is based on the Bitcoin protocol but differs from Bitcoin in that it allows for anonymous transactions. The Monacoin project includes a wallet service, a social networking platform, and a payment processing system.

Polka Dot (DOT) is a cryptocurrency created in 2016 by Blockstack, a US-based company that offers a decentralised computing platform. Polka Dot is based on the Bitcoin blockchain and uses a proof-of-stake consensus algorithm.

Tezos (XTZ) is a decentralised blockchain platform that supports smart contracts and aims to provide a more robust and secure environment for decentralized applications. Tezos uses a proof-of-stake consensus algorithm and offers features such as formal verification, which allows developers to mathematically prove the correctness of their code.

Stellar Lumens (XLM) is a cryptocurrency created in 2014 by Jed McCaleb, the founder of Ripple. Stellar Lumens is a decentralised protocol that allows for fast and low-cost international money transfers. The Stellar network is powered by a native currency, lumens (XLM).

Ethereum Classic (ETC) is a cryptocurrency created in 2016 when the Ethereum blockchain hard forked. Ethereum Classic is identical to Ethereum except that it does not support the DAO, a decentralised autonomous organisation that was hacked in 2016.

Basic Attention Token  (BAT) is a cryptocurrency created by Brendan Eich, the co-founder of Mozilla and the creator of JavaScript. Basic Attention Token is a utility token that is used to pay for advertising and attention-based services on the Brave platform.

What is bitFlyer Lightning?

bitFlyer Lightning is a Bitcoin exchange that offers customers the ability to buy and sell Bitcoin with near-instant settlement. bitFlyer Lightning trades are settled off-blockchain, which enables faster settlements and lower transaction fees. The exchange is currently available in Japan and the United States.

What are the benefits of using bitFlyer Lightning?

The bitFlyer Lightning exchange offers a number of benefits, including:

1. Near-instant settlements - Bitcoin trades on bitFlyer Lightning are settled off-blockchain, which enables faster settlements.

2. Lower transaction fees - Bitcoin trades on bitFlyer Lightning have lower transaction fees than those on the Bitcoin blockchain.

3. Advanced features - bitFlyer Lightning offers advanced features such as multi-signature wallets and support for the Lightning Network.

What is bitFlyer Recurring Buy service?

The bitFlyer Recurring Buy service enables customers to automatically buy a specified amount of Bitcoin (BTC) or Ethereum (ETH) at predetermined intervals. Customers can choose to have their purchases made daily, weekly, or monthly. The service is currently available in Japan and the United States.

What are the benefits of using the bitFlyer Recurring Buy service?

The bitFlyer Recurring Buy service offers a number of benefits, including:

1. Convenience - Customers can set up their recurring buys in advance and not have to worry about manually placing their orders each time.

2. Flexibility - Customers can change the amount they want to buy, the frequency of their purchases, or cancel their orders at any time.

3. Discounts - Customers who use the Recurring Buy service receive a 0.1% discount on their transaction fees.

The bitFlyer user interface (UI) is designed to be simple and easy to use. The platform offers a variety of features and tools to help users make the most of their trading experience. These include charts, a news feed, and more.

The bitFlyer app is available on Android and iOS, with a mobile-friendly website also available. The app is well designed and easy to use, with a range of features including price charts, order books, and trade history. The app also allows users to set up price alerts and create watchlists.

The bitFlyer app is a good choice for Japanese users looking to buy and sell Bitcoin on the go. The app is well designed and easy to use, with a range of features including price charts, order books, and trade history. The app also allows users to set up price alerts and create watchlists.

The exchange is based in Tokyo, Japan and was founded in 2014 by Yuzo Kano. bitFlyer is one of the largest cryptocurrency exchanges in Japan and one of the first to be licensed by the Japanese Financial Services Agency. The company has also been granted a BitLicense by the New York State Department of Financial Services.

bitFlyer has built up a large user base in Japan and is one of the most popular exchanges in the country. The exchange offers a variety of features and services, including margin trading, mobile apps, and a loyalty program. bitFlyer is also one of the few exchanges that allow users to buy and sell Bitcoin directly from their bank accounts.

The company has been praised for its security measures, which include two-factor authentication and a host of other features. bitFlyer was also one of the first exchanges to introduce segregated witness (SegWit), which improves transaction speed and reduces fees.

bitFlyer is a reliable and trusted exchange that offers a variety of features and services. The company has a strong reputation and is one of the largest cryptocurrency exchanges in Japan. bitFlyer is a good choice for Japanese users looking to buy and sell Bitcoin.

bitFlyer account opening is completely free. Buy/sell is free but lighting spot trading charges start from 0.1% fee on all trades. 

You can compare fees with other crypto exchanges like Binance, Bybit and Kraken.

One of the key benefits of trading on bitFlyer is the exchange's high liquidity. This means that there is always a large number of buyers and sellers on the platform, which makes it easy to buy or sell bitcoins at a fair price.

The exchange also has a low spread, which is the difference between the bid and ask prices. This makes it easier to buy and sell bitcoins at a fair price, as there is less of a chance that the prices will be manipulated by large traders.

bitFlyer's high liquidity and low spread make it a good choice for Japanese users looking to buy and sell Bitcoin. The exchange is also one of the few that allow users to buy and sell Bitcoin directly from their bank accounts.

Regulations

bitFlyer has Type 1 Financial Instruments Business license in Japan given by Kanto Local Finance Bureau.

bitFlyer is also a member of The Japanese Virtual Currency Exchange Association (JVCEA). 

bitFlyer USA, Inc. has been licensed by the New York State Department of Financial Services to engage in Virtual Currency Business Activity.

bitFlyer Europe S.A has been audited by Big 4 firms.

bitFlyer Europe is licensed Luxembourg Ministry of Finance.

bitFlyer Europe is the first Luxembourg based company that has been granted the Virtual Asset Service Provider registration with the CSSF

bitFlyer Fund Security 

bitFlyer takes security seriously, with multiple layers of protection for user accounts. The exchange uses two-factor authentication for all account login and withdrawal requests. bitFlyer also employs a host of other security measures, including customer ID verification, IP address filtering, and server-side SSL encryption.

In addition, bitFlyer keeps all user funds in cold storage, with only a small percentage of bitcoins held in online wallets for trading purposes. This ensures that the majority of user funds are protected from hacks and theft.

bitFlyer has a strong focus on security and employs multiple layers of protection for user accounts. The exchange is also one of the few that keeps all user funds in cold storage. These measures make bitFlyer a safe and reliable choice for Japanese users looking to buy and sell Bitcoin.

The deposit is free. Withdrawal fees vary depending on the Cryptocurrencies you are withdrawing. 

Check the below chart to know the details of withdrawal fees.

EUR Deposits and Withdrawals

bitflyer charges EUR Deposits and Withdrawals. Withdrawal fees through SEPA start from €.30 to €10.

PayPal Deposit fees are 4.9% + €0.35 per transaction (within EEA) and 4.9% + 1% + €0.35 per transaction (outside EEA).

bitFlyer Lightning charges 0.1% for monthly trading volumes up to $50,000. Fees for high-volume traders may drop to as low as 0.3%. These fees are extremely competitive for active trading platforms.

bitFlyer offers 24/5 customer support through its website, email, and Twitter. The company also has a FAQ section on its website that covers a range of topics, including account registration, deposit and withdrawal methods, and security measures.

bitFlyer's customer support is responsive and helpful, with a wide range of information available on the company's website. The exchange offers 24/7 support through its website, email, and Twitter.

bitFlyer is a large and popular cryptocurrency exchange based in Japan. The company offers a variety of features and services, including margin trading, mobile apps, and a loyalty program. bitFlyer is also one of the few exchanges that allow users to buy and sell Bitcoin directly from their bank accounts.

The exchange has built up a large user base in Japan and has a strong reputation. bitFlyer is a safe and reliable choice for Japanese users looking to buy and sell Bitcoin.