Bitflyer

BitFlyer is a cryptocurrency exchange based in Japan that introduced its own European and North American platforms at the end of 2017. Takafumi Komiyama and Yuzo Kano, the creators of BitFlyer, previously worked for Goldman Sachs as an investment bank director and manager, respectively. BitFlyer is a Japanese cryptocurrency exchange that was established in 2013. It has over 2.5 million users worldwide, and it ranked #1 for monthly trading volume in 2017. It has also been mentioned in well-known online publications such as The Wall Street Journal, TechCrunch, and CoinDesk. In the last 7 rounds of financing, the firm has gathered over USD 37 million in contributions. SBI Investment, Digital Currency Group, and Venture Labo Investment are among its investors.

Create a new account on Bitflyer's website.

BitFlyer's registration procedure is straightforward. The following are the steps for signing up on bitFlyer: Go to the bitFlyer home page and provide your name, email address, and other primary information at the same time.

Please visit our website and follow the instructions for completing your registration. You may also go to our webpage on the website at any time to update your profile or change your password.

Trading Volume

According to Coinmarketcap, the 24-hour trading volume was USD 286.7 million on the date of last updating (2 December 2021). The same amount 18 months previously (on 18 March 2020) was only USD 82.1 million. The increasing popularity of the BitFlyer platform has also been seen by other Japanese crypto exchanges, as evidenced by other Japanese crypto exchanges' interest in obtaining licenses. Binance is likely to become a top-10 worldwide exchange within three years if this growth continues at its current rate.

OTC

What if you have a lot of cryptocurrency, and you want to sell it all? Should you do it in the regular orderbook on a typical trading platform like everyone else? Perhaps not. One of the main reasons for executing huge deals outside of the standard market is that significant trades can impact the price of a cryptocurrency. Another factor, linked to the above, is that there may not be enough order book space to execute the required transaction. The difficulties we discussed are what we term over-the-counter (OTC) trading.

Stox has a partnership with Bitflyer, which may be useful to anybody who trades in larger amounts. Bitflyer provides OTC services to its customers, which might be beneficial to all users trading in larger quantities.

BitFlyer Trading View

Different exchanges provide different trading perspectives. There is no "this is the greatest" perspective. You must determine which trading viewpoint works best for you. The views usually have in common that they display the order book or at least a portion of it, as well as a price chart of the chosen cryptocurrency, and order history. They are often also equipped with buy and sell sections. Before you select an exchange, take a look at the trading view to ensure that it feels right to you. The following is a screenshot of BitFlyer's (the Pro Exchange's more advanced version) advanced trading view:

Exchange Types

Easy Exchange If you're a novice trader who isn't yet comfortable using sophisticated charts and tools, bitFlyer's Easy Exchange is the answer. First and foremost, the appearance and user interface are designed with the needs of beginning traders in mind. Furthermore, you may see a basic price chart, present buy and sell orders, trade history, and place your own bids.

Lightning Exchange

The bitFlyer Lightning Exchange is ideal for professional traders who want to conduct complicated transactions. With 1:15 leverage, you may trade Bitcoin futures, Spot trading, and margin trading. You may simply buy or sell at your desired rates here. Only BTC/JPY trading is currently available through biFlyer.

You may even include the limit order in your order book without matching it with prior orders using the Limit Order option. You may also use the bitFlyer API, set alerts, select custom layout motifs, and communicate with other traders for an unparalleled professional trading experience.

Supported cryptocurrencies

The bitFlyer exchange supports a host of highly liquid cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), ETC (Ethereum Classic), LTC (Litecoin), LSK (Lisk), and MONA (Monacoin).

The primary currency accepted on the platform is USD, followed by EUR and JPY.

BitFlyer Trading fees

Exchanges charge taker and maker fees, which are the terms used to describe the fees paid by takers and makers. Takers are those who take liquidity from the order book by accepting previously submitted orders, while makers are those who place those orders. The most common alternative is to simply charge "flat" fees. The taker and the maker are charged the same fee by flat fees.

Flat fees are charged on this platform. It charges both takers and makers 0.20% per transaction. For a long time, the global average was around 0.25%. Although many exchanges have already begun to cut their trading fees even lower, we believe it is reasonable to suggest that BitFlyer's trading charges are still comparable with the worldwide average.

What are the limits of BTCJam?

If you haven't upgraded to TradePro, you'll be restricted by certain limits. For example, the minimum purchase size for Bitcoin is 0.00001 BTC.

The market capitalization of Ethereum is $31.1 billion, which means that if you want to purchase a lot of Ethereum, the amount will be equivalent to more than 100 percent of your initial deposit. Your ETH deposit may not exceed 60 ETH at once and the minimum withdrawal amount for eth is 0.001 ETH.

The site features a user-friendly interface, providing simple navigation and information. Users can find the most popular cryptocurrencies that are currently on the market. On account creation, users must provide their email address and a password of at least 6 characters long; no SMS verification is necessary to complete deposits or withdrawals using PaySafeCard.

Deposit Methods

BitFlyer takes deposits via wire transfer and credit cards. Many cryptocurrency investors see this as a major advantage. It also makes BitFlyer a "entry-level exchange," allowing new crypto investors to make their first steps into the exciting world of cryptocurrencies.

When it comes to deposit methods, BitFlyer also accepts PayPal payments. Not many exchanges allow their customers to use PayPal, so this is a plus for BitFlyer. However, it should be noted that because BitFlyer Japan is exclusively available in Japan, you can only use Japanese credit cards to make payments there.

bitFlyer Review: Conclusion

Do they have a reputation for being reliable and trustworthy by millions of individuals? Check. Is it possible to use basic and complicated features? Yes, though the company cautions that "complexity can be a turn-off, especially when you're just starting out." What are the features available at each level? Their user interface is also extremely simple to use and navigate. Furthermore, you'll be able to reach out to their support staff if you get caught in a bind. Finally, their UI is modern, uncomplicated, and easy to use.

Although there are only a few supported cryptocurrencies, they are critical to the industry. Furthermore, if you want to trade with confidence while getting a pleasant trading experience, bitFlyer is the way to go. Overall, bitFlyer is a simple, well-regulated, and trustworthy cryptocurrency exchange platform.