BitFlyer review: BitFlyer is one of the leading cryptocurrency exchanges that was established in Japan in 2014. It has since expanded its operations and gained recognition globally. The platform offers a user-friendly interface and a range of services for buying, selling, and trading cryptocurrencies.
One notable feature of BitFlyer is its emphasis on security. The exchange implements strict security measures, including cold storage for digital assets and two-factor authentication (2FA), to safeguard user funds and personal information. This commitment to security has earned BitFlyer a reputation for being a reliable and trusted platform.
BitFlyer provides a diverse selection of cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and more. Traders have the flexibility to choose from various trading pairs to suit their investment strategies.
| 📅 Year of Establishment | 2017 |
| 💱 Coins: | 385+ |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0.1% |
| 💳 P2P platform | ✅ |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Tokyo, Japan. Its physical address is 2-7-1 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan |
Overall BitFlyer Review
In summary, BitFlyer is a reputable cryptocurrency exchange that provides a secure, user-friendly, and regulated platform for trading digital assets. With its emphasis on security, diverse range of cryptocurrencies, intuitive interface, and reliable customer support, BitFlyer has established itself as a prominent player in the cryptocurrency industry.
Go to BitFlyer website
Geographic Distribution
Geography of clients (traders) of BitFlyer
Top Reviews
Best customer reviews of BitFlyer
The site administration cannot guarantee review accuracy and lacks the technical means to verify if authors are actual customers. Reviews lacking detail and purely emotional in nature are disregarded.
BitFlyer is a well-established cryptocurrency exchange that offers a reliable and secure platform for trading digital assets. The user interface is intuitive, making it easy for newbies to navigate and make transactions. The exchange provides a wide range of cryptocurrencies for trading, including popular options such as Bitcoin and Ethereum. However, customer support can sometimes be slow, with delays in responding to user requests. In addition, trading fees on BitFlyer are relatively higher compared to some other exchanges, which can affect profitability for frequent traders.
Japan
One notable aspect of BitFlyer is its close attention to security. The exchange has implemented robust security measures, including cold storage of funds and two-factor authentication, which ensures the safety of users' assets. BitFlyer also offers a user-friendly mobile app that makes it convenient to trade on the go. However, the platform lacks advanced trading features and tools, which may limit opportunities for experienced traders who require more sophisticated features. In addition, the availability of some cryptocurrencies may be limited, limiting trading options for users seeking a diverse portfolio.
United States
Although BitFlyer offers a robust platform for trading cryptocurrencies, there are reports of occasional system glitches and trading disruptions. These technical issues can frustrate users, leading to potential missed trading opportunities or inconveniences. It is important that the exchange promptly address these issues and ensure smooth and uninterrupted trading for its users. In addition, the platform's customer support team is sometimes unresponsive or slow in resolving user issues, further adding to the frustration of affected users.
United Kingdom
Expert Review
Expert Review of BitFlyer
As a financial expert, I would like to provide an assessment of the reliability of the BitFlyer exchange. BitFlyer is a well-established and reputable cryptocurrency exchange that has gained recognition in the industry. The exchange adheres to strict security protocols and regulatory standards, providing a secure environment for users to trade digital assets.
One of the key factors contributing to BitFlyer's reliability is its compliance with regulatory requirements. As a licensed exchange, BitFlyer operates within the legal framework, ensuring transparency and accountability in its operations. This compliance provides users with a level of confidence and trust in the platform.
BitFlyer places a strong emphasis on security measures to protect user funds and personal information. The exchange implements robust security protocols, including cold storage for digital assets and two-factor authentication, mitigating the risk of hacking or unauthorized access.
Furthermore, BitFlyer has a track record of handling high trading volumes effectively, maintaining stability and liquidity on the platform. This reliability is crucial for traders who rely on efficient order execution and minimal downtime.
It's worth noting that no exchange is completely immune to risks, and occasional technical glitches or trading disruptions may occur. However, BitFlyer has demonstrated a proactive approach in addressing such issues promptly and providing timely communication to users.
In conclusion, as a financial expert, I consider BitFlyer to be a reliable cryptocurrency exchange. Its compliance with regulations, strong security measures, and ability to handle high trading volumes contribute to its overall reliability. However, users should always exercise caution and follow best practices to ensure the security of their accounts and make informed trading decisions.
Financial expert and analyst at TradersHero.com
Risk Warning. Trading cryptocurrencies on BitFlyer, like any investment activity, carries inherent risks and should be approached with caution. The cryptocurrency market is known for its volatility, and prices can fluctuate significantly within short periods. As a result, there is a risk of financial loss when trading cryptocurrencies.
BitFlyer Ern
Investment Programs
On BitFlyer, there are several programs available that users can utilize to potentially earn money:
BitFlyer, a prominent cryptocurrency exchange, offers a range of trading features and services, but it does not currently provide staking, leveraged trading, or copy trading functionalities. While these features can be found on some other platforms, BitFlyer focuses on providing a reliable and secure trading experience without the inclusion of these specific offerings.
By not offering staking, BitFlyer allows users to maintain complete control over their digital assets without the need to lock them up for specific periods. This may appeal to traders who prefer to have instant access to their funds and make independent investment decisions.
Overall, BitFlyer's emphasis on providing a secure, user-friendly, and transparent trading environment without staking, leveraged trading, or copy trading features demonstrates its commitment to maintaining a robust and trustworthy platform for cryptocurrency trading.
Disclaimer: Trading on the exchange, including trading on the BitFlyer platform, carries certain risks that traders must take into account.
Best Copy Trading Platforms
Conditions
Trading Conditions for BitFlyer Users
The company provides its users with favorable trading conditions that contribute to a seamless and efficient trading experience. The platform offers a wide range of trading instruments, including popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, allowing users to diversify their portfolios and take advantage of various trading opportunities.
When it comes to order execution, BitFlyer supports multiple order types, including market orders, limit orders, and stop orders. This flexibility empowers traders to implement their preferred trading strategies and execute trades at their desired price levels, enhancing their control over the trading process.
BitFlyer implements a tiered fee structure, where trading fees are determined based on the user's trading volume. As traders increase their trading activity, they may qualify for reduced fees, which can lead to cost savings over time.
Security is of utmost importance to BitFlyer, and the platform takes extensive measures to protect user funds and personal information. Two-factor authentication (2FA) adds an extra layer of security to user accounts, and the majority of the cryptocurrencies held on the platform are stored in offline, cold storage wallets to minimize the risk of hacking and theft.
Traders can access the BitFlyer platform through its user-friendly and intuitive trading interface, available on both desktop and mobile devices. Real-time market data, advanced charting tools, and customizable trading features enable users to make informed trading decisions and execute trades efficiently.
In terms of customer support, BitFlyer offers assistance to its users through various channels, including email and online contact forms. Prompt and reliable customer support ensures that users can receive assistance with their inquiries or issues, enhancing their overall trading experience on the platform.
It is essential for users to familiarize themselves with the specific trading conditions and fees associated with their BitFlyer accounts, as these may vary based on factors such as trading volume and account type. By understanding and adhering to these trading conditions, users can optimize their trading strategies and make the most of their experience on the BitFlyer platform.
| 📅 Year of Establishment | 2014 |
| 💱 Coins: | 9 |
| 💰 Min deposit | From $1 |
| ⚖️ Leverage | 1:1 |
| 💹 Trading fees | From 0.1% |
| 💳 P2P platform | ✅ |
| 🔁 Copy Trading | ❌ |
| 📊 DeFi Staking | ✅ |
| 🖼️ NFT | ❌ |
| 🏦 Crypto Loans | ✅ |
| 🔓 Demo account | ❌ |
| 🚀 Launchpad | ❌ |
| 📱 Mobile apps | iOS, Android |
| 📞 Customer Service | Forums, Chat, Email |
| 👩💼 Support | Multilingual |
| 🗺️ Headquarters | Tokyo, Japan. Its physical address is 2-7-1 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan |
Risk Warning
Comparison
Comparison of BitFlyer with other Crypto Exchanges
Crypto Exchanges comparison table of trading instruments
Commissions
BitFlyer Accounts, Commissions & Fees
The company offers different types of accounts to cater to the needs of various traders. The main account type is the Standard Account, which provides access to all the available trading features and instruments on the platform.
In terms of commissions and fees, BitFlyer utilizes a tiered fee structure based on the user's trading volume. The more a user trades, the lower their trading fees become. This incentivizes higher trading volumes and rewards active traders.
For spot trading, BitFlyer charges a market fee ranging from 0.05% to 0.15% depending on the trading volume. The exact fee structure can be found on the BitFlyer website.
When it comes to deposit and withdrawal fees, BitFlyer does not charge any fees for deposits. However, withdrawal fees vary depending on the cryptocurrency being withdrawn and are displayed on the withdrawal page of the user's account.
It's important to note that fees may be subject to change, and it is advisable to check the latest fee schedule on the BitFlyer website or contact customer support for the most up-to-date information.
Overall, BitFlyer aims to provide competitive and transparent fee structures, allowing traders to manage their costs effectively while accessing a range of trading features and instruments.
Opening an account with bitFlyer is FREE!
| Account Creation Fee | Free |
|---|---|
| Account Maintenance Fee | Free |
| Virtual Currency Deposit Fee | Free |
| Bitcoin (BTC) Withdrawal Fee | 0.0004 BTC |
| Ethereum (ETH) Withdrawal Fee | 0.005 ETH |
| Bitcoin Cash (BCH) Withdrawal Fee | 0.0002 BCH |
| Ethereum Classic (ETC) Withdrawal Fee | 0.005 ETC |
| Litecoin (LTC) Withdrawal Fee | 0.001 LTC |
| Monacoin (MONA) Withdrawal Fee | Free |
| Lisk (LSK) Withdrawal Fee | 0.1 LSK |
| Basic Attention Token (BAT) Withdrawal Fee | 5 BAT |
| Stellar Lumens (XLM) Withdrawal Fee | Free |
| Tezos (XTZ) Withdrawal Fee | 0.1 XTZ |
| Polkadot (DOT) Withdrawal Fee | 0.1 DOT |
Trading Fees
| Past 30 day volume1 | Lightning Spot | Maker Fee | Buy/Sell |
|---|---|---|---|
| €0 – Less than €50,000 | 0.10% | 0,1000% | FREE2 |
| €50,000 – Less than €500,000 | 0.09% | 0,0900% | FREE2 |
| €500,000 – Less than €1 million | 0.08% | 0,0800% | FREE2 |
| €1 million – Less than €5 million | 0.07% | 0,0700% | FREE2 |
| €5 million – Less than €10 million | 0.06% | 0,0700% | FREE2 |
| €10 million – Less than €50 million | 0.05% | 0,0600% | FREE2 |
| €50 million – Less than €500 million | 0.04% | 0,0500% | FREE2 |
| Over €500 million | 0.03% | 0,0400% | FREE2 |
The trading fee rate on BitFlyer is determined on a daily basis between 00:00 and 00:10 AM (JST). This means that the fee rate can vary depending on the specific trading volume and frequency of trades conducted by the user. BitFlyer offers the possibility of negotiating fees based on factors such as the trading volume and frequency, allowing users to potentially access more favorable fee structures. By considering these factors, users have the opportunity to optimize their trading costs and potentially secure more competitive fee rates based on their trading activities on the platform.
Risk Warning
Final review
Detailed review of BitFlyer
BitFlyer is a popular cryptocurrency exchange that was established in 2014 in Japan. It has grown to become one of the largest and most reputable exchanges in the country, offering a wide range of trading services and features to its users.
The company offers a user-friendly trading interface, suitable for both beginners and experienced traders. The platform provides access to a wide selection of cryptocurrencies, including major coins like Bitcoin, Ethereum, Litecoin, and more. It supports various trading pairs, allowing users to trade cryptocurrencies against major fiat currencies such as the Japanese yen (JPY) and the US dollar (USD).
One of the key strengths of BitFlyer is its robust security measures. The exchange has implemented advanced security protocols to protect user funds and personal information. It utilizes a combination of cold storage and multi-signature wallets to ensure the safety of cryptocurrencies held on the platform. Additionally, BitFlyer has obtained regulatory licenses in Japan and complies with strict financial regulations, further enhancing its reputation for reliability and trustworthiness.
The exchange offers different trading options, including spot trading, margin trading, and futures trading. Users can choose their preferred trading method based on their risk tolerance and investment strategy. BitFlyer also provides advanced trading tools and features, such as real-time market data, charting capabilities, and customizable order types, to assist traders in executing their strategies effectively.
In terms of fees, BitFlyer employs a tiered fee structure based on trading volume. As users trade more, they can benefit from reduced fees, providing an incentive for active trading. The fee structure is transparently displayed on the BitFlyer website, allowing users to calculate and manage their trading costs efficiently.
However, it's worth noting that BitFlyer's services are primarily focused on the Japanese market. While the platform is available to users from other countries, the range of supported fiat currencies and additional services may be more limited.
In conclusion, BitFlyer is a well-established and reputable cryptocurrency exchange that offers a secure and user-friendly trading environment. With its strong focus on security, diverse selection of cryptocurrencies, and competitive fee structure, BitFlyer is a preferred choice for traders looking to engage in cryptocurrency trading with confidence.
Advantages:
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BitFlyer Regulator
BitFlyer is a regulated cryptocurrency exchange that operates under the oversight of regulatory authorities in Japan, where it was founded. The exchange has obtained the necessary licenses and registrations to comply with the country's financial regulations.
In Japan, cryptocurrency exchanges are required to register with the Financial Services Agency (FSA) and adhere to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines. BitFlyer has successfully obtained the necessary licenses, including the Virtual Currency Exchange Provider registration, demonstrating its compliance with the regulatory framework.
By operating within a regulated environment, BitFlyer is subject to regular audits and inspections to ensure transparency, security, and the protection of user funds. These regulatory measures are in place to safeguard the interests of customers and promote a trustworthy and secure trading environment.
It's important to note that regulatory requirements may vary in different jurisdictions, and while BitFlyer is regulated in Japan, its services and regulatory compliance may differ for users in other countries. Therefore, users outside of Japan should be aware of the regulations and compliance measures specific to their own jurisdictions when using BitFlyer's services.
Overall, BitFlyer's regulatory compliance in Japan reinforces its commitment to maintaining high standards of security, transparency, and compliance with applicable laws and regulations in the cryptocurrency industry.
Risk Warning
Promotions
Bonuses Paid by the BitFlyer
Bonuses
The company offers various bonuses and rewards to its users, providing additional benefits and incentives for trading on the platform. These bonuses may vary over time and can be subject to certain terms and conditions. Here are some examples of bonuses that BitFlyer has offered in the past:
It's important to note that the availability and terms of bonuses can change, and users should refer to the official BitFlyer website or promotional announcements for the most up-to-date information on any ongoing bonuses or rewards programs.
When participating in any bonus or reward program, users should carefully review the terms and conditions, including eligibility requirements, bonus distribution mechanisms, and any associated limitations or restrictions.
Education
Review of the BitFlyer Education Program
BitFlyer offers an education program designed to provide users with valuable resources and knowledge to enhance their understanding of cryptocurrencies and trading concepts. The education program includes a range of educational materials and resources tailored to both beginner and experienced traders. Here is a review of the BitFlyer Education Program:
Online Courses:
These online courses offered by BitFlyer aim to provide users with in-depth knowledge and practical skills to navigate the cryptocurrency market. Whether you are a beginner looking to understand the basics of trading or an experienced trader seeking to enhance your technical analysis skills or explore margin trading, these courses can provide valuable insights and guidance.
Best Online Trading Courses
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The Future of DeFi: Trends and Predictions for 2024
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Advanced Charting Techniques: Using Advanced Chart Patterns to Improve Your Trading Accuracy
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Crypto Security Best Practices: Tips for Keeping Your Digital Assets Safe from Hackers
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Leveraging Fundamental Analysis: Using Economic Indicators to Inform Your Trading Decisions
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Forex Trading Platforms: Choosing the Right Platform for Your Trading Needs
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The Future of Cryptocurrency: Predictions and Trends for the Next Decade
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Trading Volatility: Strategies for Profiting from Price Swings in Forex and Crypto Markets
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Introduction to Crypto Mining: How to Start Mining Cryptocurrencies at Home
-
Exploring Forex Pairs: Understanding Major, Minor, and Exotic Currency Pairs
-
Crypto Market Analysis: Identifying Trends and Opportunities for Profitable Trading
Rating and Comments
BitFlyer Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
The usability of the BitFlyer platform leaves a lot to be desired. The user interface is outdated and lacks intuitive navigation, causing frustration and difficulty in making transactions. The platform’s order book can be illiquid for some trading pairs, leading to increased spreads and slippage. In addition, the platform’s commission structure is complex and often confusing, resulting in unexpected costs. BitFlyer’s support team is unresponsive and does not help users solve problems in a timely manner. Overall, I do not recommend BitFlyer as a reliable and user-friendly cryptocurrency exchange.
Support is often unresponsive and does not resolve issues promptly. In addition, some users have expressed concerns about the withdrawal process, reporting delays and difficulties. High trading fees on BitFlyer can also significantly reduce profits, making it less profitable compared to other exchanges.
Some users have reported occasional delays in support response, which can be frustrating when help is needed. In addition, the platform’s trading fees can be relatively high compared to other exchanges.
The platform offers advanced charting capabilities and technical analysis indicators, allowing users to make informed trading decisions. BitFlyer also supports margin trading, allowing users to leverage their positions and potentially increase profits. The platform’s liquidity is generally high, which ensures efficient order execution. However, the availability of some altcoins can be limited, which can limit users’ trading options.