The most famous crypto exchange of Japan is bitFlyer in terms of Bitcoin volume and provides a huge range of cryptocurrencies for trading. In January 2014, the exchange was launched, and bitFlyer Inc owned and operated it.
The headquarter of exchange is in Tokyo, but it offers services all over the globe. bitFlyer extended the virtual trading services in 2016, to the US and allows Bitcoin trading in three huge continents, including Europe, Asia, and the US.
bitFlyer review shows that smooth operation is continuously provided since its origin and has not faced any safety issues. Three trading pairs are provided with bitFlyer such as USD, EUR, and JPY, whereas you can buy and sell several crypto tokens, including BTC, ETH, LTC, etc.
With bitFlyer, you will have two web-based trading platforms for the trading of cryptocurrency assets. “Easy Exchange” and “bitFlyer LLightningPlatform” are two platforms.
Users who want to exchange the Japanese fiat currency for Bitcoins are using the “Easy Exchange.” The platform is user-friendly and made with beginner traders. The features of this platform are fairly limited when it comes to complex charting and analysis tools. However, traders can have a look at a simple price chart, trade history, currency buy and sell orders as well as place their own orders. The Easy Exchange platform is an excellent solution for novice traders.
Currently, bitFlyer supports only 7 cryptocurrencies, and it is a small figure when evaluated with other leading exchanges. Here is the list of supported cryptocurrencies:
- Bitcoin Cash
- Ethereum Classic
In terms of staying acquiescent with the requirements of the license, bitFlyer Exchange wishes to limit sign-ups from users in specifically authorized rules. Different bitFlyer sites deal with diverse markets, and users of one country, such as Malta (Europe), are not able to open an account with a bitFlyer website of a different country, including bitFlyer Japan.
Three main sites of bitFlyer make it ready to support users living in the United States, the UK, the EU, and Japan.
Here is a list of all the states or countries where users can index an account with this exchange:
- United Kingdom
The bitFlyer exchange is clear with its fee structure as well as it is competitive. At first, you can make an account and free to deposit cryptocurrencies on the exchange. With a wire transfer, you can freely deposit fiat currencies, but for a quick deposit option of 324 JPY, you have to pay a fee for the Japanese Yen currency.
When it comes to trading fees, it ranges from 0.1% to 0.15%. Your 30-day trading volume decides the percentage of the fee. Clients with 500 million JPY on a monthly basis can give you the lowest fees of 0.1%.
Customer support is another area for bitFlyer to excel. On the website, you can see an extensive support page that has a search bar as well as categories to access the information. If you are unable to find what you are seeking, you can contact support representatives by emailing them. Response time is also good, and their team is professional.
Is bitFlyer Safe?
bitFlyer is a safe and trusted Bitcoin exchange that has never been hacked and implements widespread safety measures to protect users and their funds. bitFlyer as a regulated exchange offers multi-sig safety features, SSL encrypted announcement, two-factor authentication (2FA), SHA-256 technology, together with secretive measures.
Before using the exchange, each user must be verified to reduce the possibility of scammers to take place. Other than making use of the multi-currency wallet exchange to store support funds, bitFlyer provides an easy way to recover access to your account if you forget the login details.
The Bitcoin exchange, in reality, scores more on safety and suitability on several online review sites and blogs.
- Two platforms for trading
- Extremely user-friendly to navigate
- High level of liquidity
- Regulated and licensed
- Only Japanese users can avail Credit Card transactions
- A limited number of digital assets
For both beginner and professional traders, the bitFlyer exchange is a reliable exchange. The website is designed orderly, and trading platforms are available according to the demographics they serve. Not many digital assets are available for trading, but fiat currencies are available, and as a trader, you can participate in the futures markets and trade on margin.
Exchange is licensed and regulated, that’s why you can operate it successfully in Japan and the United States.