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bitFlyer is one of the top 20 cryptocurrency exchanges, a ranking given by the analysis of liquidity, traffic and trading volume. Launched in Tokyo, Japan, bitFlyer has rapidly expanded its operations in Europe and the United States, with offices in Luxembourg, San Francisco and the Japanese capital itself.
Founded in 2014, bitFlyer allows users to instantly purchase Bitcoin and other cryptocurrencies via their web platform or mobile app, available for both Apple and Android devices.
By providing access to real-time market data, users can trade the most popular altcoins including Bitcoin Cash (BCH), Ethereum (ETH), Lisk (LSK), Ethereum Classic (ETC) and Monacoin (MONA).
Licensed and regulated by the Japanese Financial Services Agency (JFSA), bitFlyer has been featured in the most renowned crypto news publishing platforms such as Tech Crunch, Coin Desk and The Wall Street Journal.
Today, bitFlyer is one of the most trusted and established exchanges available to buy and trade cryptocurrency.
Key points from bitFlyer
- bitFlyer is an established crypto exchange that has been around for over six years.
- Regulated by the leading Japanese financial authority JFSA
- Authorized to operate throughout Europe and the United States
- It offers immediate purchase of the main cryptocurrencies
- Ranked in the top 20 cryptocurrency exchanges by CoinMarketCap
- It has the highest trading volume in Japan
Information on bitFlyer payments and crypto offers
- Payment methods accepted: Visa, MasterCard, SoFort, iDEAL, giropay
- Number of coins available: 7
- Cryptocurrency offers: BTC, LTC, LSK, ETH, MONA, ETC, BCH
Who created bitFlyer?
The bitFlyer cryptocurrency exchange was founded by two former employees of Goldman Sachs, a leading global investment banking, securities and investment firm.
Yuzo Kano and Takafumi Komiyama have led the company through several funding rounds and have received support from Barry Silbert, Mitsubishi UFJ Financial Group and many others.
The investors of bitFlyer Holdings Inc. (parent company of the exchange) decided in 2019 to replace Kano as CEO with Yoshio Hirako, to improve corporate governance and further strengthen the entire management structure of the company.
Yuzo Kano still holds the position of CEO of the subsidiary operating in the United States.
Is BitFlyer for me?
The leading cryptocurrency exchange, bitFlyer, has effectively split its platform in two, so they can cater to users of all experience levels.
I’m a beginner
If you are new to the world of cryptocurrencies, bitFlyer has created Easy Exchange. The features of this platform are limited to keep the process as simple as possible for new users and newbies to purchase their cryptocurrencies with fiat currency hassle free. Many of the complex data streams are removed so that beginners are presented with the basic graphical tools to base their decisions. This allows for a quick and easy process that is just as effective.
I am an expert
For more experienced investors, bitFlyer provides Lightening Exchange. Loaded with advanced features and functionality, this platform includes complex charts and a host of useful analysis tools. Created by veteran Wall Street experts, Lightening Exchange also offers margin trading up to 1:15, futures and spot trading. Available on all desktop and mobile devices, this platform offers all the power you might expect from a world-leading cryptocurrency exchange.
Is BitFlyer Safe?
bitFlyer is as secure as you might hope. The exchange has never experienced a single breach or hack in all the years it has operated.
The bitFlyer exchange is licensed by leading global financial authorities. The Luxembourg financial regulator, the CSSF, has licensed the company to operate throughout the European Union. As for the US, bitFlyer was the first exchange based outside of America to get Bitlicense, along with nearly 50 state-owned MSB licenses.
As previously mentioned, the base of operations in Tokyo is overseen by Japan’s leading financial governance, the JFSA.
Being highly regulated in all of these regions has been a core mission for bitFlyer, ensuring absolute best practices, the most professional trading environments and protection for its users.
When it comes to security, bitFlyer has historically employed former government agency employees and top-tier security professionals so that the exchange can surpass any competitor’s security level.
When users connect to the exchange via their web browser or mobile app, they do so via a Secure Hash Algorithm 2 (SHA-2) server, an encryption protocol previously used by the National Security Agency (NSA). This server immediately identifies any attempted manipulation or sudden change and is also protected by a firewall for added security.
Users themselves are encouraged by bitFlyer to use complex alphanumeric passwords and 2 Factor Authentication (2FA) to further protect their accounts, which will be locked out if too many failed password attempts are made.
All of these factors clearly demonstrate that bitFlyer takes security very seriously and offers some of the highest levels of security in the industry.
The bitFlyer wallet
The exchange offers users a free integrated wallet protected by all the security protocols the platform has in place. This wallet can provide convenience for buying, selling and transferring cryptocurrency holdings. That said, this wallet is unsecured, so if you don’t plan on using your funds in the near future, we recommend that you transfer your funds to a private wallet.
We recommend a cold wallet solution like Trezor or Ledger Nano, as these hardware devices store your crypto investment in an offline environment for added security.
BitFlyer fees and costs
Each cryptocurrency exchange charges some sort of fee for the transfer of your cryptocurrency and fiat currency, but bitFlyer has some of the most competitive in the market. There are no deposit charges and if users choose to withdraw via a simple SEPA wire transfer, the fee is incredibly low and only costs 30 cents for any amount under $ 250,000
With withdrawal fees reaching 0.2%, any investor would have a hard time finding a cheaper exchange anywhere.
Conclusion: bitFlyer
bitFlyer offers a multi-level trading platform that can satisfy users of any experience. The exchange is heavily regulated by leading global authorities, providing additional protection and adhering to the best practices the industry could offer.
Features like InstantBuy allow users to purchase their cryptocurrency without hassle or delays, and secure and available payment methods offer some of the lowest processing fees found anywhere.
From savvy investors to those just starting to get involved in cryptocurrency, bitFlyer is a high-performance, easy-to-navigate platform. We highly recommend using bitFlyer to conduct all crypto transactions.
