bitFlyer is Japan’s most famous crypto exchange in terms of Bitcoin volume and offers a wide variety of cryptocurrencies for trading. The exchange was established in January 2014 and is owned and operated by bitFlyer Inc. The exchange has a headquarter in Tokyo, Japan but provides its service all over the globe. In 2016, bitFlyer extended their virtual trading services to the US and allows Bitcoin trading in three major continents, namely, Europe, Asia and the US.
The exchange has consistently provided smooth operation since its inception and has not as of yet, faced any security issues. bitFlyer provides a total of three trading pairs including EUR, USD and JPY, while you can buy and sell numerous crypto tokens including ETH, BTC, LTC, etc.
bitFlyer charges 0.0008 BTC as transaction fees when you withdraw in Bitcoins and charges a fixed fee of $10 USD if you withdraw in USD. Trading fees ranges around from 0.1% to 0.15% and the fee is calculated on the basis of your 30-day trading volume.
According to a review, bitFlyer has employed a number of security protocols to keep the users safe from any precarious situation. Due to their strict safety regulations, they have been granted licensing from EU, Japan’s Financial Services Agency (JFSA) and 42 states of the US.
Reviews mention that bitFlyer has a strong customer support section, however, It is unclear how efficient the support of the exchange is, however, upon reading reviews and forums, you can verify that the users are mostly happy with the services provided by the exchange.
BitFlyer offers its customers two trading platforms matching their different needs. Easy Exchange is for users that are changing fiat currencies with Bitcoin, while bitFlyer Lightning is for more experienced traders that want to sell/buy bitcoin through Limit, Market or Special orders. Additionally, accounts can be corporate or individual, and two account classes are offered Trade and Trade Pro.
The site of BitFlyer is kept simple and includes a dashboard, a trade report section, and lightening exchange. The trading platform is straight-forward but also detailed, which might make it complicated for beginners. It also incorporates a chat function, a section where graphs can be plotted, a leaderboard, etc. and a settings section where the trading platform can be personalized.
BitFlyers priorities are usability, reliability, and security. Since it was founded, BitFlyer adapted and developed security protocols and procedures (Multi-sig, AML, KYC) to ensure customer safety, wherefore they never encountered any security issues by now. A considerable amount of bitcoins are stored offline in cold wallets, and transaction security keeps improving. These special procedures made the exchange a platinum member of the Japan Blockchain Association. Reliability and usability and efficiency are achieved through constant improvements.