BitFlyer: Only Bitcoin and Crypto Exchange across U.S, Japan and Europe! - OhNo "WTF" Crypto

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BitFlyer: Only Bitcoin and Crypto Exchange across U.S, Japan and Europe!

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bitFlyer has been one of the most reliable cryptocurrency exchanges over the past few years. The exchange was established in Tokyo, Japan back in January 2014, when the rules and regulations in Japan were far more amiable in terms of digital asset operations.

However, the exchange has also been available in the United States since 2017. In 2018, the exchange began its operations in the European Market. The exchange is regulated under the New York Department of Financial Services(NYDFS) and the Japanese Financial Services Agency (JFSA). In the U.S., bitFlyer has close to 50 state MSB licenses, including the BitLicense – with bitFlyer being the first non-US entity to obtain it.

Its European division is supervised by the CSSF, the Luxembourg financial regulator after the company was granted a Payment Institution license by the Ministry of Finance. The license allows bitFlyer to operate across the European Union as the license is pass-portable.

The license obliges bitFlyer to have strict and strong standards when it comes to consumer protections (i.e. asset segregation between corporate funds and users funds) as well as to have internal and external audits from auditing companies for its IT security, financials, and operations.

Exchange Platform and Crypto Availability

The bitFlyer Lightning Platform is available for both the U.S and European Markets, which provides a sophisticated version of the exchange and it is designed with keeping the needs of an intermediate to the advanced trader in mind.

Chart and Price Analysis has a professional appearance to it with market indicators available for the traders to smartly identify trends and reversals. It also provides its users with options such as market orders, limit orders, and stop losses.

However, there are major differences here as well. U.S users can use the Lightning Platform to either buy cryptocurrency with USD, or they can sell cryptocurrency in exchange for USD.

Cryptocurrency provided by the U.S platform:

  1. Bitcoin
  2. Ethereum
  3. Litecoin
  4. Ethereum Classic
  5. Bitcoin Cash

Cryptocurrency provided by the European platform:

  1. Bitcoin
  2. Ethereum
  3. Litecoin
  4. Monacoin
  5. Ethereum Classic
  6. Lisk
  7. Bitcoin Cash

bitFlyer provides some of the most attractive fees rates across the industry but they usually depend on the trade size as well. Its Japanese, U.S and European divisions have different rates but they continue to be more appealing than other major exchanges.

European Fees

Source: bitFlyer

After traders and new users have login into their accounts and added Euros to their wallets, they can purchase buy Bitcoin, with fees as low as 0.20%. with the help of Lightning Spot. Fees as low as 0.10% are possible if users have a trading volume of over 10 million euros in the last 30 days period.

Coin specific fees facilitated by the bitFlyer European exchange are as follows:

  1. Account Creation Fee – Free
  2. Account Maintenance Fee – Free
  3. Virtual Currency Deposit Fee – Free
  4. Bitcoin(BTC) Withdrawal Fee – 0.0004 BTC
  5. Ethereum (ETH) Withdrawal Fee – 0.005 ETH
  6. Bitcoin Cash(BCH) Withdrawal Fee – 0.0002 BCH
  7. Ethereum Classic(ETC) Withdrawal Fee – 0.005 ETC
  8. Litecoin (LTC) Withdrawal Fee – 0.001 LTC
  9. Monacoin(MONA) Withdrawal Fee – Free
  10. Lisk(LISK) Withdrawal Fee – 0.1 LSK

U.S fees 

Source: bitFlyer

As observed, the fee structure of the U.S division is relatively cheap as crypto deposited are mostly free from the exchanges’ end. Withdrawal fees are also towards the lower end of the spectrum.

Major Advantages of the biFlyer

  1. More than 80% of the customers’ assets have their funds safely stored in cold wallets, which greatly reduces the chances of fund loss. The cold wallets are protected with physical locks and remain under 24-hour surveillance systems.
  2. bitFlyer’s customer support and services are efficient, responsive and traders/customers are usually able to receive an answer or solve their dilemmas, within the first 24-hours of the complaint.
  3. The exchange supports Segwit transactions for Bitcoin, which is very rare in the industry.
  4. According to reports, the exchange is backed by credible industry players which include the likes of Digital Currency Group, Mizuho Financial Group, and Mitsubishi UFJ Capital.
  5. Only exchange to maintain a presence in the United States, European provinces, and the Asian markets in Japan.
  6. To date, the exchange has not suffered any hacking incident, which led to a data breach, fund loss, or capital infringement.

Conclusion

After going through the exchanges of several divisions, it is safe to say that bitFlyer is one of the best options for traders/users who are looking forward to crypto exposure. It is important to note that U.S customers remain at a minor disadvantage in terms of facility and features but developments are on-going and it might be only a matter of time before the U.S customers are able to access the same facilities as received by the Japanese Customer base.

For more information please check out the following Website.

bitFlyer Japan 

bitFlyer U.S

bitFlyer Europe

Twitter USA

Twitter Europe

Disclaimer: This is a paid post and should not be considered as news/advice.

The post BitFlyer: Only Bitcoin and Crypto Exchange across U.S, Japan and Europe! appeared first on AMBCrypto.



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Akshay KS, Khareem Sudlow