In this article, we will talk about Bitflyer Exchange. We will cover many things, including features, upsides and downsides, and depositing and withdrawing methods, so whether you’re a beginner or an experienced trader, there is something for everyone.
So, let’s go on a journey to learn more about this “Bitflyer” exchange than other digital currency exchange companies.
Introduction
Bitflyer is a crypto exchange based in Japan that has more than three million users across the globe and traded over €185 billion worth of cryptocurrencies in 2024.
It holds licenses to operate in Europe, the United States and Japan and purports to abide by its field’s most stringent security measures.
This platform has ‘bitFlyer Buy/Sell’, designed for novices as it offers a simple interface, while ‘bitFlyer Lightning’ caters to experienced traders.
Spot trading, margin trading, and crypto derivatives are available on the exchange platform, with claims of swiftness in transaction execution speed.
Instantness in bank transfer and PayPal account funding are among other features offered.
Bitflyer Profile
| Company Name | Bitflyer | |
| Categories | Cryptocurrency Exchanges | |
| Website | https://bitflyer.com/en-us/ | |
| Year Founded | 2014 | |
| Headquarters | Japan | |
| Office Locations | bitFlyer Inc. is headquartered in Tokyo, Japan, while bitFlyer USA, a subsidiary, is located in San Francisco, California. | |
| Listed Cryptocurrency | BTC, ETH, XRP, MONA, BCH, LSK *Depends on the Region Also | |
| Supported Fiat Currencies | USD, EUR, JPY | |
| Supported Countries | US, Europe, Japan | |
| Minimum Deposit | 0.001 BTC | |
| Application | Android & iOS | |
| Customer Support | via Help Center For Queries, Email, Inquiry Form, Telephone *Depends on the Region Also |
How to Sign Up on Bitflyer Exchange?
Access the site: Go to bitFlyer.com
Begin registration: Click “Sign up” or “Create an account.”
Provide email address: Enter your email and create a password. Agree to terms and conditions.
Confirm email: Check your inbox for an email from bitFlyer with a link to verify your account. Click the link.
Finish profile: Log in and give more information about yourself – such as name, birthdate, address, etc…
Verify ID: Upload a photo of yourself holding an identification document like a passport or driver’s license. You might also be asked for additional proof of residency.
Deposit money: Once verified, you can start depositing funds and trading!
How To Deposit Cryptocurrency At BitFlyer?
To deposit cryptocurrency on bitFlyer, do the following:
Log In: Open an account with bitFlyer.
Go to Wallet: Visit the “Wallet” or “Funds” part of your profile.
Select Cryptocurrency: Pick a digital currency from the selection.
Get Deposit Address: Click on “Deposit” beside any coin. BitFlyer will display a deposit address.
Copy Address: Take note of this address somewhere else.
Transfer Funds: Go to an external wallet or another exchange where you store cryptocurrency. Start a transfer to the given deposit address from bitFlyer.
Confirm Transfer: Wait for confirmation that the transaction has gone through on the blockchain and finish it up by confirming this step, too.
Sometimes deposits take longer, depending on network congestion, before they are reflected in your bitFlyer account, so don’t worry if it doesn’t show up immediately.
How To Withdraw Cryptocurrency At bitFlyer?
Access account: Log into bitFlyer.
Open Wallet: Visit the “Wallet” or “Funds” section.
Choose Digital Money: Decide upon the digital asset you want to take out.
Press Withdrawal: Tap ” Withdraw “your selected cryptocurrency.
Put down withdrawal details: You must provide information about the sum and address of the withdrawal. Be cautious when entering a withdrawal address; it cannot be edited once submitted.
Confirm all the data: Check all provided info attentively, as there are often fees for such transactions.
Pass verification process: Depending on various factors, extra security measures might include inputting email verification codes or codes sent via SMS to a registered phone number, etc., and completing them if necessary.
Request withdrawal: Approve your request by clicking the appropriate button.
Confirmation expected: Wait until confirmation arrives that money has been transferred successfully; sometimes, it takes longer due to network congestion.
BitFlyer Fees
| EXCHANGE NAME | MAKER FEES | TAKER FEES |
|---|---|---|
| bitFlyer USA | 0.12% | 0.12% |
| bitFlyer Europe | 0.20% | 0.20% |
| bitFlyer Japan | 0.15% | 0.15% |
JPY Deposit Fees
| Bank Transfer Fees | Amount for Each Bank |
|---|---|
| Quick deposit fee (Through SBI Sumishin Net Bank) | Free |
| Quick deposit fee (Other than SBI Sumishin Net Bank) | 330 JPY (tax included) per deposit |
JPY Withdrawal Fees
| For customers of Mitsui Sumitomo Bank | Withdrawals less than 30,000 JPY 220 JPY (tax included) Withdrawals of at least 30,000 JPY 440 JPY (tax included) |
| For customers of banks other than Mitsui Sumitomo Bank | Withdrawals less than 30,000 JPY 550 JPY (tax included) Withdrawals of at least 30,000 JPY 770 JPY (tax included) |
bitFlyer Lightning Fee
| Lightning Spot （BTC/JPY, ETH/JPY, XRP/JPY, XLM/JPY, MONA/JPY, ETH/BTC, BCH/BTC） | Execution amount x 0.01% ~ 0.15% (Unit varies by Crypto Assets) |
Details of Exchange and Lightning Spot Exchange Fee
* The trading fees are updated daily between 12:00 AM and 12:10 AM (JST).
* Trade volumes subject to this calculation include Buy/Sell Bitcoin, the Bitcoin https://coinroop.com/gemini-exchange/, Lightning Spot, and bitFlyer Crypto CFD.
| Past 30 day volume | Exchange / Lightning Spot |
|---|---|
| Less than 100,000 JPY | 0.15% |
| 100,000 – Less than 200,000 JPY | 0.14% |
| 200,000 – Less than 500,000 JPY | 0.13% |
| 500,000 – Less than 1 million JPY | 0.12% |
| 1 million – Less than 2 million JPY | 0.11% |
| 2 million – Less than 5 million JPY | 0.10% |
| 5 million – Less than 10 million JPY | 0.09% |
| 10 million – Less than 20 million JPY | 0.07% |
What Coins Are Supported on bitFlyer?
The platform supports a small range of digital currencies, about 11 digital assets, and Bitcoin can be purchased for Japanese Yen and USD.
The list of popular trading pairs includes BTC/JPY, ETH/JPY, BTC/EUR, XRP/JPY, and BTC/USD. Among the cryptocurrencies used for trading are BTC, ETH, ETC, BCH, LTC, and more.
Exchange Features
Zero fees, easy to use
The interface makes trading simple for beginners. You can create an account for free and trade crypto with no transaction fees from the marketplace.
A secure way to invest
As one of the first cryptocurrency exchanges with licenses to operate across the US, EU, and Japan combined, bitFlyer follows one of the industry’s highest security standards.
The next-generation security has an industry-leading 7-year streak of no hacking incidents. Also, they store 100% of your crypto in cold storage.
Buy crypto with as little as $1
Invest as much or as little as you wish. At bitFlyer, you can invest in the most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin and more for as little as $1.
bitFlyer Recurring Buy
Are you tired of trying to time the market? Grow your portfolio with automatic daily, weekly, monthly, or bi-monthly crypto investments.
Lowest Fees
This offers the most competitive fee structure amongst regulated US exchanges, starting at 10bps.
Programmatic Trading
Execute complex order types through either APIs or Lightning web interface. Choose from over 20+ particular order types to customize your trading strategy.
Global Liquidity
Access the world’s largest BTC/JPY market directly from your bitFlyer USA account and USD markets.
Who Are the bitFlyer Founders?
In January 2014, the business was started by Yuzo Kano, Masuda Rikiya and Takafumi Komiyama, all former employees of Goldman Sachs.
Yuzo Kano was CEO until 2019, when investors decided to replace him with Yoshio Hirako. However, he is still the CEO of bitFlyer USA.
Before this role, Mr. Kano worked in equity derivatives trading for Goldman Sachs and BNP Paribas. He is also a Director at the Japan Blockchain Association.
Takafumi Komiyama currently holds the position of CTO for bitFlyer Holdings. He formerly worked at Sony Interactive Entertainment, where he developed settlement systems; before that, Mr.Komiyama had been employed by Goldman Sachs in a similar capacity.
Trade On Go With BitFlyer Android & IOS Mobile App
While moving, you can trade with the bitFlyer mobile app for Android and iOS devices.
A simple interface is featured in this app, which allows for easy buying and selling of cryptocurrencies.
It gives real-time price data so that users can know what’s happening in the market anytime.
Managing your portfolio, seeing trade history, and tracking profits/losses can be done easily through the app.
TAdvancedsecurity measures such as cold wallets, Multisig and 2FA (two-factor authentication) are built into the platform. To guarantee safe transactions.
Moreover, it also offers handy depositing/withdrawing methods using QR codes or external addresses, if needed.
You may download it from either Google Play Store or Apple App Store, then start trading wherever you are! For more information or help, please get in touch with us if you need anything else!
BitFlyer Refer & Earn Program
bitFlyer has a program that gives Bitcoin to both you and your friends. Whenever someone you invite trades $100 or more, they get $15 in Bitcoin, and so do you.
This is an excellent opportunity to introduce people to trading with cryptocurrency and allows you to earn extra Bitcoin for yourself simultaneously.
You only have to give them your link; once their qualifying transaction is completed, the rewards will be added to both accounts.
Is bitFlyer Safe?
“Is bitFlyer safe?” is a common question among traders. They talk about how reliable and secure it is many times.
This platform has always been considered trustworthy and secure because it has never had any major security breaches, among other reasons.
SSL encryption, SHA-256 technology, and two-factor authentication with multi-signature protocols are some advanced security measures by bitFlyer.
Also, it complies with KYC (Know Your Customer) and AML (Anti-Money Laundering) standards.
These robust features meet or exceed those outlined by JBA (Japan Blockchain Association), meaning this is one of the safest exchanges available today.
Where Is bitFlyer Located?
bitFlyer Inc. is headquartered in Tokyo, Japan, while bitFlyer USA, a subsidiary, is in San Francisco, California.
Customer Support
The bitFlyer platform is very good at customer support. You can contact their support staff by phone (in Japan) or email.
They also have a Help Center where you can find answers to frequently asked questions.
The only downside is that there’s no live chat option, which limits its capabilities. Still, it’s widely used among cryptocurrency traders thanks to the quick help provided.
BitFlyer Alternative Exchanges
Binance: Recognized for having many cryptocurrencies, cheap rates, and sophisticated trading abilities.
Coinbase: Easy to use with solid safety measures; perfect for those new to trading.
Kraken includes various digital currencies and advanced trade options while ensuring security is a priority.
Gemini: Suitable for beginners and experienced traders because it is regulated and secure.
KuCoin: Charges less for transaction fees and is earning popularity due to the broader range of traded coins.
Final Verdict
In conclusion, bitFlyer is a safe and secure digital currency trading platform known for its affordability, excellent client service and state-of-the-art security features.
Although it does not have a live chat support system, its services’ trustworthiness and easy-to-use interface have made it famous among many traders.
Additionally, I would like to mention the fees charged by different regions as well as the services offered so far;
However, bitFlyer remains an excellent choice for both newbies in this field and veterans looking forward to investing more in cryptocurrencies.
All in all, BitFly is considered reliable because it is fast but competent when dealing with coins.
