Do you want to learn about trading digital money and a popular website bitFlyer? We have a review of bitFlyer that explains everything you need to know, like how much it costs to trade, and their pros and cons. Keep reading to decide if bitFlyer is the right place for you to trade digital money.
bitFlyer At a Glance
| Minimum Deposit | None |
| Number of Cryptocurrencies | 10+ |
| Deposit fees | 0.001 BTC |
| Mobile App | Android & iOS |
| Customer Service | 24/7 Phone, email and chat |
| Location | Tokyo, Japan |
bitFlyer is known as a user-friendly cryptocurrency exchange that provides fee-free standard trades. However, bitFlyer supports a limited selection of supported currencies and higher spreads. And sometimes the difference between buying and selling prices can be as high as 6%.
bitFlyer: Pros and Cons
| Pros | Cons |
| Easy to navigate | Not available in all US states |
| Beginners friendly | No live chat support |
| Top exchange in Japan and with more than 3 million users worldwide | Supported only few cryptocurrencies |
| Low fees on pro exchange | No crypto-to-crypto trading pairs |
| Secure exchange | |
| Industry leading security | |
| Ability to buy crypto with either dollar or yen |
Top Perks of bitFlyer
bitFlyer exchange offers a wide range of Key features. Let’s take a look on it!
Security
bitFlyer keeps your money safe by using advanced security techniques like multisig Bitcoin wallets, SSL encryption, and two-factor authentication. They regularly test their platform for safety. Most of their cryptocurrency is stored offline in cold wallets to protect it from hackers.
Easy to Use
bitFlyer is a website where you can invest in crypto. It’s easy to use because of its simple and user-friendly design. You just need to create an account, which doesn’t take much time. Once you’ve signed up and confirmed your identity, you can put money into your account and use it to buy different kinds of cryptocurrencies available on the website.
Low fees on Pro Exchange
bitFlyer Lightning offers very low trading fees. If you trade less than $50,000 per month, the fees start at 0.10%, which is quite affordable. And if you trade more, the fees become even more affordable. Compared to other crypto exchanges, not many of them charge fees as low as 0.10% or less. So, if you want to keep your trading costs as low as possible, bitFlyer Lightning is one of the best choices for you.
Customer Support
bitFlyer is good at helping customers. Their website has a lot of useful information to answer your questions, and you can easily search for what you need. If you can’t find what you’re looking for, you can contact their support team through an email form on their contact page. They reply quickly to the users.
Mobile App
The bitFlyer exchange is available on mobile phones for both iPhones and Android phones. The app has 3.6 rating from around 4,800 reviews on the Google Play store and 4.3 rating from 200 reviews on the App store. The app offers the same functionality as the web version.
Cryptocurrencies Available on bitFlyer
Here are the glance of available cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Polkadot (DOT)
- Dogecoin (DOGE)
- Bitcoin Cash (BCH)
- Tezos (XTZ)
- Stellar Lumens (XLM)
- Cardano (ADA)
- Basic Attention Token (BAT)
bitFlyer Trading Fees
bitFlyer doesn’t charge trading fees on standard buy/sell orders. But it does charge a spread. The spread is normally between 0.1% and 6%, although it can exceed this margin during sudden price changes.
Here’s the fee schedule for bitFlyer:
| Past 30-Day trading volume | Fee |
| Less than $50,000 | 0.10% |
| $50,000 – less than $500,000 | 0.09 % |
| $500,000 – less than $1,000,000 | 0.08 % |
| $1,000,000 – less than $5,000,000 | 0.07 % |
| $5,000,000 – less than $10,000,000 | 0.06 % |
| $10,000,000 – less than $50,000,000 | 0.05 % |
| $50,000,000 – less than $500,000,000 | 0.04 % |
| $500,000,000 or more | 0.03 % |
Payment Methods
| Method | Deposit | Withdraw | Speed |
| Bank Account (ACH) | Yes | Yes | 1 Day |
| Credit Card/ Debit Card | Yes | Yes | Instant |
| Wire Transfer | Yes | Yes | 0-2 Days |
Top bitFlyer Reviews
