What is bitFlyer?
bitFlyer stands out as a prominent Japanese cryptocurrency exchange, boasting a user base exceeding 3 million globally and a remarkable €180 billion in global trading volume in 2021. The platform is licensed to operate in the EU, US, and Japan, emphasizing top-tier security standards.
Founders and Leadership:
Founded in January 2014 by Yuzo Kano and former Goldman Sachs colleagues Masuda Rikiya and Takafumi Komiyama, bitFlyer has seen dynamic leadership. Yuzo Kano, the initial CEO until 2019, was succeeded by Yoshio Hirako, though Kano continues to serve as the CEO of the American subsidiary. Kano's background includes roles at Goldman Sachs and BNP Paribas, and he is also the Director of the Japan Blockchain Association.
Locations:
bitFlyer Inc. is headquartered in Tokyo, Japan, while its subsidiary, bitFlyer USA, operates from San Francisco, California.
Services and Features:
bitFlyer offers a user-friendly 'bitFlyer Buy/Sell' interface for beginners and 'bitFlyer Lightning' for advanced traders. The platform covers spot trading, margin trading, and crypto derivatives, claiming fast transactions and instantaneous funding through bank transfers and PayPal.
Restricted Countries:
Services are not available in certain countries due to regulatory considerations, including Afghanistan, Iran, North Korea, Russia, and others.
Supported Coins:
bitFlyer supports around 11 digital assets, including BTC, ETH, ETC, BCH, and LTC. Popular trading pairs include BTC/JPY, ETH/JPY, BTC/EUR, XRP/JPY, and BTC/USD.
Fee Structure:
Trading fees are based on a customer's 30-day trading volume, with rates of 0.1% for users trading under $50,000 per month and 0.2% for spot trades. Notably, BTC/EUR and ETH/BTC trading pairs enjoy free trading.
Leverage and Margin Trading:
bitFlyer facilitates leverage through Lightning FX and Lightning Futures, allowing users to trade with up to 2X leverage. Lightning FX, designed for effective fund investment, permits margin trading of Bitcoin through margin deposits and settlements, with maximum leverage varying for corporate accounts.
What are the trading fees on bitFlyer?
Trading fees are based on a customer's 30-day trading volume, with rates of 0.1% for users trading under $50,000 per month and 0.2% for spot trades. Notably, BTC/EUR and ETH/BTC trading pairs enjoy free trading.
Does bitFlyer offer leverage trading?
bitFlyer facilitates leverage through Lightning FX and Lightning Futures, allowing users to trade with up to 2X leverage. Lightning FX, designed for effective fund investment, permits margin trading of Bitcoin through margin deposits and settlements, with maximum leverage varying for corporate accounts.
Is bitFlyer safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
