BitFlyer Review

February 18, 2018 by posted in Brokers, Crypto brokers, CryptoCurrency • No Comments

BitFlyer Review by professional Forex trading experts the “” FX trading team, Is BitFlyer legit or a scam? Our BitFlyer review covers fees, regulation, pros & cons. Read this review before you trade with the crypto broker.

BitFlyer Review: A Detailed Guide to the Trusted Crypto Exchange

Introduction

BitFlyer, founded in 2014, is a well-established cryptocurrency exchange based in Japan. It is one of the oldest and most reputable platforms for trading digital currencies, offering a secure environment, a user-friendly interface, and competitive fees. With a strong presence in Japan, the United States, and Europe, BitFlyer has become a prominent global player in the cryptocurrency industry. This review will cover everything you need to know about BitFlyer—from its key features, security protocols, fees, supported cryptocurrencies, and more—helping you determine if it’s the right platform for your trading needs.

A Brief History of BitFlyer

BitFlyer was founded by Yuzo Kano in 2014 with the vision of creating a secure and user-friendly platform for cryptocurrency trading. The company quickly gained recognition due to its adherence to regulatory compliance and security protocols. BitFlyer is one of the first exchanges to receive licensing from Japan’s Financial Services Agency (FSA), which has helped solidify its reputation as a trustworthy platform in the industry.

Initially focused on the Japanese market, BitFlyer expanded its operations to the United States and Europe, becoming one of the few exchanges to offer cryptocurrency trading in these regions with robust regulatory compliance. Over the years, it has gained a loyal user base, particularly in Japan, and remains one of the most trusted platforms in the cryptocurrency space.

Key Features of BitFlyer

1. User-Friendly Interface

BitFlyer offers a simple and clean interface, making it easy for beginners to start trading cryptocurrencies. The platform provides two main trading views:

  • Basic View: Ideal for new users, this view allows you to buy and sell cryptocurrencies with ease. You can access real-time price charts, view your portfolio, and place market or limit orders without feeling overwhelmed by technical data.

  • Advanced View: This view is designed for more experienced traders. It includes advanced charting tools with multiple indicators (such as Moving Averages, RSI, MACD), as well as order book depth and other technical analysis features. This view allows traders to monitor multiple assets, make informed decisions, and execute complex strategies.

2. Wide Range of Supported Cryptocurrencies

BitFlyer supports several popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). The platform also offers a range of altcoins and trading pairs, ensuring that traders have ample options to diversify their portfolios. Some of the popular trading pairs include:

  • BTC/USD

  • BTC/JPY

  • ETH/USD

  • BCH/JPY

Although BitFlyer does not have the vast selection of altcoins available on other exchanges, it focuses on offering the most reliable and widely traded digital currencies. This makes the platform a solid choice for those interested in Bitcoin and other top cryptocurrencies.

3. Mobile and Desktop Platforms

BitFlyer offers both mobile apps for iOS and Android, as well as a desktop platform for users who prefer trading from their computers. The mobile apps provide access to most of the platform’s features, including live price charts, order placement, and portfolio management. They are simple to use and allow users to trade on the go.

The desktop platform offers a more comprehensive experience, with access to advanced charting tools and greater functionality. Users can monitor their portfolios, access detailed market data, and place trades using the platform’s intuitive interface.

4. Bitcoin Lightning Network

One of BitFlyer’s standout features is its integration of the Bitcoin Lightning Network. This technology allows for faster and cheaper Bitcoin transactions, improving the overall experience for traders and users who want to transfer Bitcoin quickly. By using the Lightning Network, BitFlyer offers instant settlement with lower fees than traditional Bitcoin transactions.

This integration is particularly beneficial for traders who frequently transfer Bitcoin between exchanges or external wallets.

5. API Access for Developers

BitFlyer provides API access for developers who wish to create trading bots or integrate the platform with other applications. The API is well-documented and offers extensive functionality, allowing users to automate trading strategies, fetch market data, and manage their accounts programmatically.

Security Measures at BitFlyer

Security is a critical aspect of any cryptocurrency exchange, and BitFlyer has taken substantial steps to ensure the safety of user funds and data.

1. Cold Storage for Funds

BitFlyer stores the vast majority of user funds in cold storage, which means the funds are kept offline and not vulnerable to hacking. This is an industry-standard practice that significantly reduces the risk of cyberattacks.

2. Two-Factor Authentication (2FA)

To further secure user accounts, BitFlyer requires two-factor authentication (2FA) for all users. This adds an extra layer of security by requiring both your password and a one-time code from an authentication app (such as Google Authenticator) or an SMS to access your account.

3. FSA Regulation and Compliance

BitFlyer operates in compliance with Japan’s stringent financial regulations. It holds a license from the Financial Services Agency (FSA), ensuring that the platform follows anti-money laundering (AML) and know-your-customer (KYC) requirements. This provides peace of mind to users, knowing that the platform adheres to the highest standards of regulatory compliance.

4. Insurance Fund

In addition to the standard security measures, BitFlyer maintains an insurance fund to help protect users in the event of a security breach or hack. While the fund cannot guarantee 100% coverage for all losses, it does provide additional protection for users’ funds.

Fees and Costs

1. Trading Fees

BitFlyer uses a maker-taker fee model, which means that users who provide liquidity (makers) pay lower fees than users who take liquidity (takers). The fees are structured as follows:

  • Taker Fees: Taker fees start at 0.15% for trades below ¥1 million (approximately $9,000 USD) and decrease as trading volume increases.

  • Maker Fees: Maker fees start at 0.10% and also decrease based on trading volume over a 30-day period.

The fees are competitive, but traders with high-volume activity can expect to benefit from lower fees.

2. Deposit and Withdrawal Fees

  • Deposits: Depositing cryptocurrencies on BitFlyer is typically free. However, depositing fiat currencies may incur some fees, especially for international bank transfers.

  • Withdrawals: Withdrawal fees vary depending on the cryptocurrency and the network. For example, Bitcoin withdrawals are subject to a network fee that can fluctuate based on the current load on the Bitcoin network. Other cryptocurrencies may have similar withdrawal fees.

3. Inactivity Fees

BitFlyer does not charge any inactivity fees. Users are not penalized for leaving their accounts inactive, which is a great feature for long-term holders who want to store their assets on the platform.

Supported Countries and Fiat Currencies

BitFlyer is available in multiple countries, including Japan, the United States, and several European nations. The platform primarily supports the Japanese Yen (JPY) for trading, but it also allows for USD and EUR trading pairs. This makes BitFlyer a viable option for both Japanese users and international traders.

For users outside Japan, BitFlyer also offers fiat-to-crypto trading and accepts international bank transfers in some cases. However, the availability of certain fiat currencies and payment methods may vary depending on the region.

Customer Support

BitFlyer offers robust customer support through several channels, including email and live chat. Users can reach out to the support team for assistance with account issues, deposits, withdrawals, and general inquiries. The platform’s help center also contains a comprehensive FAQ section, providing quick answers to common questions.

While the response time is generally fast, some users have reported that it can take longer during high-volume periods. However, BitFlyer is committed to providing efficient support for its users.

Pros and Cons of BitFlyer

Pros:

  • Highly Secure: BitFlyer uses cold storage, 2FA, and regulatory compliance to ensure the safety of user funds.

  • User-Friendly Interface: The platform is easy to navigate, with both basic and advanced views for different types of traders.

  • Bitcoin Lightning Network: BitFlyer offers faster and cheaper Bitcoin transactions through the Lightning Network.

  • Regulatory Compliance: The platform is licensed by the Financial Services Agency in Japan, ensuring it follows the highest security and compliance standards.

  • Global Availability: BitFlyer operates in multiple countries, making it accessible to a broad audience.

Cons:

  • High Fees for Low Volume Traders: Taker fees start at 0.15%, which can be high for casual traders.

  • Limited Altcoin Selection: Compared to some other exchanges, BitFlyer has a more limited selection of altcoins.

  • Limited Fiat Support for Non-Japanese Users: While BitFlyer supports JPY, the availability of other fiat currencies may be limited depending on the user’s location.

BitFlyer Review Conclusion

BitFlyer is a trusted cryptocurrency exchange with a strong focus on security, regulatory compliance, and ease of use. It offers a user-friendly interface for beginners, advanced trading tools for professionals, and a solid selection of cryptocurrencies, particularly Bitcoin and Ethereum. With its robust security measures, including cold storage and two-factor authentication, BitFlyer ensures that user funds are well protected.

While the fees may be on the higher side for low-volume traders and the altcoin selection is somewhat limited, BitFlyer remains a top choice for users in Japan and internationally. Its integration with the Bitcoin Lightning Network also makes it a great option for those looking for fast and cheap Bitcoin transactions.

BitFlyer Review Frequently Asked Questions (FAQs)

  1. Is BitFlyer a safe exchange?
    Yes, BitFlyer employs cold storage, two-factor authentication, and regulatory compliance to ensure the safety of user funds.

  2. Can I trade Bitcoin on BitFlyer?
    Yes, BitFlyer supports Bitcoin and multiple Bitcoin trading pairs.

  3. What are the fees on BitFlyer?
    Trading fees range from 0.10% to 0.15%, depending on your trading volume.

  4. Does BitFlyer support fiat currencies?
    Yes, BitFlyer supports fiat currencies such as JPY, USD, and EUR.

  5. Can I use BitFlyer on my phone?
    Yes, BitFlyer has mobile apps for both iOS and Android.

  6. Does BitFlyer have an API for trading?
    Yes, BitFlyer offers an API for algorithmic trading and data access.

  7. How do I deposit funds into BitFlyer?
    You can deposit cryptocurrencies or use bank transfers for fiat currency deposits.

  8. What is the Bitcoin Lightning Network on BitFlyer?
    The Lightning Network enables faster and cheaper Bitcoin transactions.

  9. Does BitFlyer offer margin trading?
    No, BitFlyer does not currently support margin trading.

  10. How can I withdraw funds from BitFlyer?
    You can withdraw cryptocurrencies or fiat, depending on your location and account settings.

  11. How can I secure my BitFlyer account?
    Enable two-factor authentication (2FA) and use a strong password to secure your account.

  12. Does BitFlyer support altcoins?
    Yes, BitFlyer supports several altcoins like Ethereum and Litecoin.

  13. How do I contact BitFlyer support?
    You can contact BitFlyer support via email or live chat.

  14. Is there an inactivity fee on BitFlyer?
    No, BitFlyer does not charge inactivity fees.

  15. Does BitFlyer support staking?
    No, BitFlyer does not offer staking at this time.

  16. Is BitFlyer regulated?
    Yes, BitFlyer is licensed by Japan’s Financial Services Agency (FSA).

  17. Can I trade on BitFlyer in the US?
    Yes, BitFlyer operates in the US, but availability may vary by state.

  18. Can I withdraw fiat from BitFlyer?
    Yes, BitFlyer supports fiat withdrawals, but this may depend on your location.

  19. Does BitFlyer offer a referral program?
    Yes, BitFlyer offers a referral program where users can earn rewards for referring new users.

  20. Can I use BitFlyer for international transfers?
    Yes, BitFlyer supports international transfers in various cryptocurrencies.

BitFlyer Review FAQs

  1. BitFlyer Review 2025: Is It the Best Exchange for You?

  2. BitFlyer Exchange Review: Key Features, Pros, and Cons

  3. Is BitFlyer Safe? A Complete Guide to Security & Protection

  4. BitFlyer User Experience: Interface, Ease of Use & Navigation

  5. How Reliable Is BitFlyer? Performance and Trading Speed Examined

  6. BitFlyer for Beginners: A Simple Guide to Get Started

  7. BitFlyer Review: Is It Suitable for Professional Traders?

  8. What Makes BitFlyer Different? Unique Features and Tools Reviewed

  9. BitFlyer Ratings in 2025: What Real Users Have to Say

  10. BitFlyer Review: Everything You Need to Know Before Signing Up

💸 Fees, Deposits, and Withdrawals

  1. BitFlyer Fees Explained: Trading, Deposit, and Withdrawal Costs

  2. How Much Does BitFlyer Cost? A Breakdown of All Fees

  3. BitFlyer Deposit Methods: Bank Transfers, Crypto, and More

  4. How Long Does BitFlyer Withdrawals Take? Speed and Efficiency Reviewed

  5. Are BitFlyer’s Fees Competitive in 2025? A Detailed Comparison

🔐 Security and Regulation

  1. Is BitFlyer Regulated? Compliance and Safety Features Explained

  2. BitFlyer Security Review: Is Your Crypto Protected?

  3. How Does BitFlyer Handle Hacks? Security Measures and Response

  4. BitFlyer KYC Process: How Secure Is Identity Verification?

  5. BitFlyer’s Anti-Money Laundering (AML) Policies: What You Should Know

📈 Trading Features & Tools

  1. BitFlyer Trading Platform Review: Interface, Speed & Usability

  2. BitFlyer Pro vs Standard Trading: Which Should You Use?

  3. Margin Trading on BitFlyer: What You Need to Know

  4. BitFlyer Mobile App Review: Performance & Features for Traders

  5. BitFlyer’s Charting and Technical Analysis Tools: A Comprehensive Guide

🌍 Markets, Coins, and Ecosystem

  1. What Coins Can You Trade on BitFlyer? A Complete List

  2. BitFlyer Token Listings: How Often Are New Coins Added?

  3. BitFlyer DeFi and NFT Support: What You Can Trade

  4. Does BitFlyer Offer Staking? What You Need to Know

  5. BitFlyer Ecosystem Review: Beyond the Basics of Trading

👥 Customer Support and Community

  1. BitFlyer Customer Support Review: Helpfulness, Speed, and Access

  2. How to Contact BitFlyer: Support Channels and Response Times

  3. Is There an Active BitFlyer Community? Reddit, Forums, and More

  4. BitFlyer Help Center Review: Is It Actually Useful for Users?

  5. Common BitFlyer Complaints and How the Platform Handles Them

🤝 Comparisons: BitFlyer vs Other Exchanges

  1. BitFlyer vs Binance: Which Exchange Is Best for You?

  2. BitFlyer vs Coinbase: A Comprehensive Comparison of Fees & Features

  3. BitFlyer vs Kraken: Which Offers Better Security & User Experience?

  4. BitFlyer vs KuCoin: A Deep Dive Into Trading Tools and Fees

  5. BitFlyer vs Bybit: Comparing Features and Customer Support

  6. BitFlyer vs OKX: Which Crypto Exchange Has Better Liquidity?

  7. BitFlyer vs Bitstamp: Fees, Tokens, and Global Reach Compared

  8. BitFlyer vs Crypto.com: Which Platform Offers Better Flexibility?

  9. BitFlyer vs Huobi: A Side-by-Side Comparison of Trading Options

  10. BitFlyer vs Gate.io: Which Exchange Supports More Altcoins?

BitFlyer Review Conclusion

BitFlyer is the number one cryptocurrency exchange in Japan. It also rates pretty highly among the global volume charts. The most specific thing is that trading is done against the Japanese Yen (JPY). There are multiple platforms and services available, including margin trading. Despite being focused on its domestic market, the company appears to be reaching out to the rest of the world and with commission levels so low, customers will come.

By this BitFlyer Review now you know all about BitFlyer.com crypto exchange, For more information about cryptocurrency trading brokers visit TopForexBrokers.com crypto brokers comparison website, Tip foreign exchange trading experts please by share this article about BitFlyer Review.

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