BitFlyer

BitFlyer

BitFlyer
In Social Media:
Intuitive Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $49,395,291

BitFlyer is the largest cryptocurrency exchange in Japan and one of the world leaders in terms of volume, popular for its BTC/JPY trading pair. The exchange offers 2 trading platforms. Bitcoin Easy Exchange is the simple one, providing users with low fees, deposit of funds via credit card or bank transfers, and a high liquidity rate.

bitFlyer Easy Exchange is best fitted for those often trading against JPY, who are not seeking anonymity and are not fond of advanced trading orders. The interface is basic, simple to use and has an intuitive design, making transactions easy for beginners.

Traditional Currency Support

  • Japanese Yen (JPY)

Language Support

  • Chinese
  • English
  • French
  • Japanese
  • Korean

Country Support

  • Australia
  • Canada
  • China
  • European Union
  • Hong Kong
  • Japan
  • Most Africa
  • Most of Asia
  • Most of Eastern European Union
  • Most of Latin America
  • Most of the Middle East
  • New Zealand
  • Norway
  • Russian Federation
  • Singapore
  • Switzerland
  • Turkey
  • United Kingdom of Great Britain and Northern Ireland

Platforms Systems

  • Web Interface
  • Mobile App
  • API

Stock Market Options

Interface
customisation:

  • Allows customization of charts

Advanced
Options:

  • Limit Order

Discounts For
The Big Traders:

  • Volume based discounts

BitFlyer security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
3rd party insurance
Private Keys Stored On
Exchange platform
Storage Type
At least 80% of user funds are stored in cold storage

Advanced Security Features:

  • Email reports of logins
  • Ability to limit access to account based on IP address
  • Monitor bahavior patterns for suspicious activity

Security Features:

  • SSL
  • Bank Level Encryption
  • XSS (Cross Site Scripting) measures
  • CSRF (Cross Site Request Forgery) measures

Legal Registration or Compliance:

  • KYC/AML Compliant

bitFlyer Inc is a Tokyo-based company founded in 2014 by CEO Yuzo Kano (former Goldman Sachs trader) and CTO Takafumi Komiyana. They have raised over $40 million in 7 rounds from 10 investors since and also developed a crowdfunding for Bitcoin projects called FundFlyer. In 2017, they have been in the news for preparing to enter the US market and for launching a prepaid Visa Card.

Summary:

bitFlyer Easy Exchange caters to the Japanese market, but is also accessible to worldwide users. It offers low trading fees, deep liquidity, and has high or no limits for fully verified accounts. Although they currently have limited trading options and support only JPY, their recent Bitlicense means this will change in the near future.

Ease of use
Intuitive
Transaction Fees
Between 0.10-0.20% depending on volume, 0.0004 BTC/Transaction
Deposit/Withdrawal Fee
0.1-0.29%
Deposit/Withdrawal Fee c For Bank Transfer
0.1-0.29%
Deposit/Withdrawal Fee For Credit Card
0.1-0.29%
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Deposit using credit card, Deposit using 3rd party, Withdrawl funds to bank account, Send/Receive Crypto

Functionality:

BitFlyer accepts international bank transfers, quick deposits, and Japan-issued credit cards. The quick deposit feature allows users to make deposits by Internet banking and Japanese convenience store payments. There are two account types: Wallet Class (enables limited bitFlyer services) and Trade Class (allows purchasing and selling virtual currency, but requires thorough account verification).

Most common
customer complaint:

Uses only Japanese Yen as fiat currency, Identity verification required to unlock all functionalities