BitFlyer | Business24-7

Braden Chase

Updated: 7 March 2023

Published: 4 March 2023

Page Summary

BitFlyer is a popular cryptocurrency exchange available in Japan, the United States, and Europe. It offers access to popular assets like Bitcoin. BitFlyer has low fees, excellent customer support, and security. It is a top choice for beginner traders who want to invest in digital assets.

Review Summary: 

BitFlyer has a transparent fee structure with competitive commissions.
It offers a beginner-friendly interface and an advanced platform for professional traders.
It offers many account tiers, including corporate accounts.

BitFlyer Overview:

BitFlyer is a leading exchange in Japan. Launched in 2014, it is available today in the United States and Europe. It has top-tier licenses, low fees, and highly secure platforms. BitFlyer USA has competitive fees for US residents.

Trading Experience

The BitFlyer exchange offers advanced and beginner-friendly platform interfaces. Its website is clean and easy to learn. The main dashboard reveals useful data in the account’s default fiat currency. BitFlyer Europe offers the Instant Buy service for credit/debit cards and iDeal funding options.

The BitFlyer mobile app is available on iOS and Android. It is an excellent trading platform to make trades, fund accounts, and deposit Bitcoin. It is fully responsive and enables trading on the go. It is an advanced trading platform for traders at all levels.

Cryptocurrencies Available 

BitFlyer offers a diverse crypto portfolio. The main digital coins available to buy and sell are:

Bitcoin
Ethereum
Litecoin
Ethereum Classic
Bitcoin Cash
Monacoin
Lisk
Ripple
Basic Attention Token

Fees 

BitFlyer exchange has some of the lowest fees in the industry. Deposit and withdrawal fees are average. Trading fees vary depending on your location. The main BitFlyer fees are:

BitFlyer US has a maker/taker fee of 0.12%;
BitFlyer Europe has a maker/taker fee of 0.20%;
BitFlyer Japan has a maker/taker fee of 0.15%.

Various trading fees apply for altcoin and Bitcoin market buys. Withdrawal fees vary depending on the funding method you opt for. It is best to read the fee structure available on BitFlyer’s main website.

Regulation & Reputation 

BitFlyer is a trustworthy crypto exchange. BitFlyer USA complies with mandatory laws under the New York Department of Financial Services. BitFlyer Europe is registered with the Luxembourg Trade and Companies Register. It has a top-tier license from the CSSF (Commission de Surveillance du Secteur Financier.)

This cryptocurrency exchange uses SSL encryption, a web application firewall, and a multi-signature Bitcoin address. It recommends to all BitFlyer account holders use all the available account safety measures.

Account Opening 

Account opening at BitFlyer exchange is simple. Users have to be citizens/residents of the supported regions (USA, Japan, or Europe.) All accounts have to pass verification under the Know Your Customer rule. Users have to submit the following:

A copy of ID or passport
Proof of address
A picture of you
Nationality
Phone number

Customer Support 

The BitFlyer lightning exchange has trustworthy and knowledgeable customer support. The team is very responsive and answers the query in 24 hours. BitFlyer customer support is available via a contact form on their official website. This exchange offers a valuable FAQ section.

Summary 

BitFlyer is a popular cryptocurrency exchange with a competitive fee structure. It offers personalized services depending on the area you live in. BitFlyer stands out because of its impressive safety measures and top-tier licenses. It is a good fit for both beginners and advanced traders.

FAQ

What Is A Centralized Exchange?

A centralized crypto exchange represents a private institution offering access to trading platforms. It allows users to invest in digital coins. These exchanges request registration, known as the Know Your Client Rule.

What Is A Decentralized Exchange?

A decentralized exchange represents a provider that has no central point of control. It works as a server, but each device within the network operates in different countries. If one computer malfunctions, it doesn’t interfere with the network’s activity. Decentralized exchanges don’t have top-tier licenses from a regulatory body. If you opt for a decentralized exchange, you should understand the risks. Read our in-depth reviews to learn more about exchanges and safety.

Is BitFlyer Centralized Or Decentralized?

BitFlyer is a centralized crypto exchange managed by a private company under strict rules. It has top-tier licenses and an excellent track record.

How Long Does It Take To Verify A BitFlyer Account?

BitFlyer has a fast verification process done in up to 5 minutes. But it is worth mentioning that this quick verification depends on the accuracy of the data you submit. Make sure you upload a clear picture of your ID and face.

Disclaimer