Choosing the best crypto exchange is still a crucial factor to many in terms of safety, reliability and comfortness.
Bitflyer is one of the most popular exchanges and ranked among top 10 according to coinmarketcap. Having major users from Japan, European countries, and USA, with user volume $149,558,504 as of March 2022.
In this article, Let us look into the complete guide on the Bitflyer exchange and its aspects such as its features, fees, pros and cons.
|Legal Name||Bitflyer Co.Ltd.|
|Official Web Address||https://bitflyer.com/ja-jp/|
|Headquarters||Minato-ku, Tokyo; Japan.|
|Trading Options||Spot, margin, derivatives/futures trading.|
|Trading fees||0.12% ~ 0.15%|
|Trading pairs||Based on the region|
|Deposit methods||ACH, debit/credit cards, Crypto wallets, Bank wire.|
|Deposit fees||No fees|
|Withdrawal methods||Crypto wallets, Bank transfer, ACH,|
|Withdrawal fees||Depends on the currency and states|
|Supported Countries||USA, European Countries, Japan.|
|Restricted countries||Depends on Country|
|Supported Fiat currencies||USD, EUR, JPY|
|Mobile App||Google play, App store|
|Customer Support||Email, support tickets. Depends on the country.|
Launched in 2014, Bitflyer is a Japanese-based crypto exchange that offers crypto trading services in European Countries, USA, and Europe. With 2.5 + million users, it is one of the major cryptocurrency exchanges by trading volume.
Founded by Yuzo Cano and is owned and operated by Bitflyer Co. Ltd. The current CEO of the company is Kuniyoshi Hayashi and CTO is Takafumi Komiyama. The exchange accepts fiat mode of payment only in USD, JPY, and EUR.
The platform prides out on being a one-stop-shop for all Crypto exchange needs offering spot, margin, and derivatives trading.
Bitflyer is funded by global companies such as SMBC Venture Capital, Mizuho Capital, Dai-ichi Life, Mitsubishi UFJ Capital, SBI Investment, QUICK, Venture Labo Investment, etc.
The exchange has not faced any hack events, this means it has high layered security and good quality trading.
Yes, Bitflyer is safe and secure. The exchange is considered to be safe in multiple regions like Japan, Europe, and USA.
To secure the funds it has adopted multi-sig security technology. The Japan Blockchain Association has designated bitFlyer as a Platinum member (JBA) because bitFlyer’s multiple comprehensive trading limitations and security procedures are in agreement with JBA’s requirements.
Bitflyer Europe is the first Luxembourg-based firm to be registered with the CSSF as a virtual asset service provider.
SSL Encryption with Digicert, adoption of SHA-256 for prevention of data breaches, web application firewall to protect web external attacks, IP Anycast to protect against DDOS attacks.
A log-in Email is sent to the user’s account which contains a link to freeze the account immediately.
Automatic logging out, if operations are not performed, withdrawals and deposits are confirmed via email and many more techniques are used by Bitflyer to keep the transactions safe and secure the funds of the users.
|Trade Class User||$5.00|
|All milestones achieved||$50.00|
Bitflyer charges no fee for account creation, maintenance, and deposits. The fees are based on the region because Bitflyer Europe, USA, and Japan charge different fees.
Let us look into detail the fee structure of different Bitflyer exchanges.
The maker and taker fee is 0.15%. A bitcoin transaction fee is 0.0004 BTC. For monacolin, ripple, and Stellar lumens the transactions are free.
The deposits made through SBI Sumishin Net Bank are free. 330 JPY is charged to other banks for deposits.
|Withdrawals||Less than 30,000 JPY||At Least 30,000 JPY|
|For customers of Mitsui Sumitomo Bank||220 JPY||440 JPY|
|For customers other than Mitsui Sumitomo Bank.||550 JPY||770 JPY|
Exchange fees charged by Bitflyer Japan.
The trading fees by bitflyer Japan are calculated based on 30-day volume. The spot fees start at 0.15% and can be as low as 0.01%. Futures trading is free.
|Past 30 day volume||Exchange / Lightning Spot (excludes ETH/BTC and BCH/BTC)||Lightning FX/Futures|
|Less than 100,000 JPY||0.15%||FREE|
|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%|
|20 million – Less than 50 million JPY||0.05%|
|50 million – Less than 100 million JPY||0.03%|
|100 million – Less than 500 million JPY||0.02%|
|At least 500 million JPY 3||0.01%|
The exchange does not charge any fees for account creation, maintenance, and SEPA deposits are free. Withdrawal fees depend on the cryptocurrency you want to withdraw.
The trading fees are charged based on 30-day volume. SEPA Withdrawal fee may vary from €0.30 to €10.00. SEPA deposits are free.
Paypal deposits within the European area the fee is 4.9% + € 0.35 per transaction and outside EEA the fee is 4.9% + 1% + € 0.35.
|Past 30 day volume||Lightning Spot||Buy/Sell|
|€0 – Less than €1 million||0.20%||No trading fee|
|€1 million – Less than €10 million||0.15%|
|At least €10 million||0.10%|
EUR Deposits And Withdrawals Fees
|SEPA Withdrawals||€0.30 for ≤ €250,000.00€10.00 for > €250,000.00|
|PayPal Deposits||Within EEA (European Economic Area).4.9% + €0.35 PayPal fees per transactionOutside EEA (European Economic Area).4.9% + 1% + €0.35 PayPal fees per transaction|
Bitflyer USA does not charge any fee for account creation and maintenance. Deposits are free. Withdrawal depends on the cryptocurrency you want to trade and fee for wire withdrawals is $20.
Trading fee is charged based on 30-day volume and the fee starts from 0.10% and can be as low as 0.03%.
|Past 30 day volume||Lightning Spot||Buy/Sell Virtual Currencies|
|$0 – Less than $50,000||0.10%||FREE|
|$50,000 – Less than $500,000||0.09%|
|$500,000 – Less than $1 million||0.08%|
|$1 million – Less than $5 million||0.07%|
|$5 million – Less than $10 million||0.06%|
|$10 million – Less than $50 million||0.05%|
|$50 million – Less than $500 million||0.04%|
|Over $500 million||0.03%|
Bitflyer supports 14 crypto assets they are :
Trading pairs depend on the region( Europe, USA, Japan) of the exchange. The most traded pair on bitflyer is BTC/JPY.
Some of the major trading pairs include:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.
Alabama, Alaska, Arizona, Arkansas, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, illinois, lowa, kansas, Louisiana, Maine, Massachusetts, Minnesota, Mississippi, Nebraska, Nevada, New hampshire, New Jersey, New Mexico, New york, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia, and Wyoming.
California, Colorado, Indiana, Kentucky, Maryland, Michigan, Missouri, Montana, Utah, and Wisconsin.
The Mobile app of Bitflyer is available on Google play and App store. The app provides the same feature as the desktop version. The mobile app is fast, easy to use, and has an understandable interface. You can trade anytime, anywhere with the mobile app.
For Iphone Users, File size is 28MB. Requires IOS 14.0 or higher. Rated 4+.
For Android Users, file size is 17 MB. Requires android 7.0 or up. Rated 3+.
Some of the Trustpilot reviews on Bitflyer are as follows:
BitFlyer is cool, they cheated with the payment of money, explaining the regulations, and if so why they recommended inviting friends and giving 10 € per person, loss of time and 430 euro for inviting people, etc.
On Reddit, most of the traders comments are based on how good the exchange is, quick wire transfers, no problem while dealing with the exchange, little chat room exchange for bitflyer users, and more.
|Total Trust score||9/10|
The minimum amount you can trade is 0.00001 BTC.
Yes, Bitflyer offers both referral and an affiliate program.
Bitflyer recurring buy is a feature where you can set up daily, weekly, bi-monthly, and monthly crypto transactions.
Login > Recurring buy > Choose crypto > set the frequency, purchase date, & amount > confirm.
There is no limit to how many people you can invite.
BitFlyer Exchange is a well-known cryptocurrency exchange that caters to both new and experienced traders. The website is well-designed, and the three offered trading platforms are well-suited to the demographics they serve.
The Exchange offers traders to participate in futures and margin trading and on top of that it is regulated and licensed by reputable authorities. Overall bitflyer is a reputable, trustworthy, and safe cryptocurrency exchange.
The feud between Binance CEO CZ and Sam Bankman-Fried continued after CZ accused SBF of…
While Bitcoin is attempting to recover its losses after the recent FTX meltdown, data indicate…
Bitcoin's price has been trading above $17,000 since the early hours of the day and…
Recently, there has been a significant amount of worry over the credibility of Tether (USDT).…
Altcoins in recent times have been more robust compared to that the star crypto Bitcoin…
The bearish action in the cryptocurrency market appears to have eased, but Cardano's price remains…