Cryptocurrency Tools: BitFlyer

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BitFlyer is a cryptocurrency exchange which is based in Japan. The platform offers an array of crypto assets to trade. It was founded in 2014, in Tokyo.

Japanese cryptocurrency regulations are considered more modern and advanced than Europe and the US, and so the exchange is a registered Virtual Currency Exchange Operator. The exchange is also regulated by both the Japan Financial Services Agency (JFSA) and the New York Department of Financial Services (NYDFS). These regulations make BitFlyer one of the most trusted exchanges available. They are also partnered with a number of banking entities, including the Sumimoto Mitsui Banking Corporation.

BitFlyer offers two different web-based trading platforms. The first is “Easy Exchange”, while the second is “BitFlyer Lightning Platform”

The former is primarily used by users who want to exchange fiat for Bitcoin. It is designed to be user friendly, with a focus on newcomers. It is limited in terms of charting and analysis, but users can view a simple price chart.

On the other hand, the Lightning Platform was designed with seasoned traders in mind. The platform feels much more like a traditional forex trading platform as it has a sophisticated design and incorporates many advanced tools and features. Using the BitFlyer Lightning platform, traders can trade with 1:15 leverage and participate in Bitcoin futures trading, Spot trading, and Margin trading. The charting is placed on the left of the screen and is preloaded with numerous technical indicators. The order books are on the right and appear to be pretty solid with different types of orders such as market orders, limit orders, and stop losses.

With these two platforms, BitFlyer is an excellent option for both newcomers and advanced traders.

BitFlyer has a transparent fee structure. It is free to create an account and free to deposit cryptocurrencies onto the exchange. Depositing fiat currencies are free through wire transfer but have a fee for their quick deposit option of 324 JPY for the Japanese Yen currency. As for the trading fees, they range from 0.1% to 0.15%. The fee percentage is based on your 30-day trading volume. Clients who trade 500 million JPY on a monthly basis will give you the lowest fees of 0.1%.

BitFlyer has also been praised for its customer support. The website has an extensive FAQ, and there is an email ticket system which has speedy response times.

BitFlyer is one of the most trusted cryptocurrency exchanges in Asia and veteran in the seen. The website is well designed and caters to traders of all levels.

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