40
views

The bitFlyer Exchange – an Easy to Follow Guide for New Users

bitFlyer is a Japanese-based regulated cryptocurrency exchange that has captured a significant market share in the region since its launch. Specifically, bitFlyer is the number one cryptocurrency exchange in terms of Bitcoin volume in Japan. This top-notch exchange earned a reputation as a highly competent, trusted, and secure cryptocurrency exchange through its regulated approach and commitment to excellence.

Benefits of bitFlyer

Users who trade on bitFlyer gain significant advantages over the competition. The exchange features high Bitcoin volume, regulatory compliance, and many other functionalities that helped it cement its position as the leading exchange in the region. Here are some of the best reasons investors continue to favor this exchange:

Liquidity

As the top exchange in the country, bitFlyer investors enjoy very high liquidity. This liquidity helps ensure that all trades execute promptly. The platform provides exceptional liquidity for a decent selection of cryptocurrency assets in addition to Bitcoin. 

Regulated

The exchange was destined for success as one of the first exchanges to receive a regulatory nod of approval from Japanese authorities. Currently, the platform is a licensed and registered Virtual Currency Exchange Operator with registration number 00003. Additionally, bitFlyer secured EU licensing. Specifically, the exchange is supervised by the CSSF, the Luxembourg financial regulator, and holds a Payment Institution license by the Ministry of Finance. 

This approach places the platform in an exclusive class of legally registered exchanges and regulated by a reputable regulatory authority. In this way, bitFlyer is considered one of the top exchanges in the crypto-verse in regulatory compliance.

Fiat Gateway

As a regulated exchange, bitFlyer can operate a fiat gateway. Fiat on-ramps are critical for crypto adoption because they are one of the easiest ways to convert your fiat currency into popular cryptocurrencies such as Bitcoin. To be licensed as a fiat gateway, you must adhere to several strict regulatory mechanisms, including full KYC/AML compliance.

Low Fees

bitFlyer has one of the lowest fee structures amongst regulated exchanges. These low fees, combined with the firm’s coin selection and regulated stance, makes it an ideal choice for investors.

Highly secure

In terms of security, the platform exceeds expectations. The firm introduces a highly competent, trusted, and secure protocol that leverages a combination of technologies to achieve its goals. Specifically, the platform utilizes multi-sig Bitcoin security, SSL communication, SHA-256 technology, Google two-factor-authentication, and Anti Money Laundering (AML) and Know Your Customer (KYC) policies. 

Together, these systems keep bitFlyer investors safe. Notably, the exchange has never been hacked to date. This stellar record helps the platform maintain its reputation as one of the safest options in the market today.

Real Support

Anyone who has accidentally sent their crypto to the wrong address or made some other careless mistakes can attest to the importance of top-notch customer service. bitFlyer has a strong customer support section that is known for its quick response times. 

What Problems Does bitFlyer Attempt to Fix?

bitFlyer’s unique position in the market and its proprietary technologies allow the platform to simultaneously fill several niches. The developers behind the project sought to create a simplistic yet secure option for global crypto investors. Their hard work paid off as bitFlyer alleviates these concerns: 

Investor Confusion

bitFlyer utilizes a variety of techniques to ensure that new investors are not bogged down with technical barriers. New crypto investors may not require all the advanced tools professional investors need. In most instances, new investors need a streamlined fiat on-ramp and easy to use trading functionalities. 

Investor Protections

bitFlyer investors gain confidence, knowing that their investments are under the same protection level found in traditional markets. All the coins on the platform are well-established projects, and investors gain access to legal recourse if the exchange decides to ghost the market suddenly.

Institutional investment

Institutional investors have long sought out ways to enter the crypto space. However, these large investment firms can only participate in regulated exchanges. bitFlyer provides both a regulated and profitable option to these established investment firms. In this way, bitFlyer helps to further Bitcoin adoption

How Does bitFlyer Work?

At the core of bitFlyer reside two web-based trading platforms. Keenly, each platform serves a different purpose and is geared towards different users.

Easy Exchange

The easy exchange is a user-friendly trading application built from the ground up to accommodate the needs of beginning traders. The platform introduces a simple price chart, access to trade history, and all current buy and sell orders. Additionally, users can place their orders with just a click of the mouse. This platform is also where investors can convert their fiat currencies into cryptocurrencies.  

bitFlyer Lightning Platform

bitFlyer also operates a more sophisticated exchange designed to meet the needs of advanced cryptocurrency traders. Unlike the easy exchange, the Lightning Platform includes various advanced trading tools and a more sophisticated design. In addition to these benefits, the platform introduces more trading functionalities. Specifically, advanced traders enjoy the ability to trade with leverage, participate in Bitcoin futures trading, spot trading, and margin trading.

Mobile Dapp

bitFlyer users also enjoy access to an intuitive mobile Dapp. The Dapp provides users with advanced charting and analysis tools to keep their ROIs on track. Best of all, the Dapp is free to download. bitFlyer’s Dapp is available on both Android and Apple devices.

Origins of bitFlyer

bitFlyer officially entered service in January 2014. The exchange is owned and operated by bitFlyer Inc. Two well-known FinTech developers founded the firm by the name of Yuzo Kano and Takafumi Komiyama. These individuals have years of experience in developing and utilizing trading systems for the traditional banking sector. 

How to use bitFlyer

Getting started on bitFlyer is easy. You will need to verify your identity before you can trade on the platform. Once your account is verified, the trading process is very straight-forward. It’s free to create an account and free to deposit cryptocurrencies using bitFlyer. Best of all, your fee percentage is based on your 30-day trading volume.

bitFlyer – The Right Combination of Security and Functionality to Succeed

Bitcoin live price
Btc
Bitcoin
$42.893
price
0.67229%
price change
BUY NOW

It only takes a quick glimpse to see what makes this exchange an attractive option to investors. This regulated exchange can provide customer care and trading services that outperform its non-regulated competitors. Given its popularity and its unique dual platform approach to trading, it’s likely that bitFlyer will remain the top Japanese exchange for years to come. 

Stay up to date with our latest articles

More posts

PrimeXBT – The Next Generation Platform for Leverage Trading

PrimeXBT is a trading platform and cryptocurrency exchange supporting major stock indices, commodities, and foreign currencies. Many of today's crypto traders have entered the industry from traditional trading markets. For example, they come from stock trading, currency exchanges, and commodities trading. However, to maintain their former portfolios and dip their feet into cryptocurrency, they have to register on different platforms. Unfortunately, this practice may come at high costs. PrimeXBT aims to combine trading across different markets on a single platform.…

AOFEX – An Advanced Exchange Ecosystem with Top DeFi Features

AOFEX is a blockchain-based exchange and ecosystem. The network provides crypto traders with the ability to effortlessly trade, stake, mine, and more. AOFEX entered the market intending to provide a more transparent and regulated option. As such, the platform received its MSB license for digital currency trading from US regulators. Today, it seeks to become a vital bridge for institutional investors seeking to gain exposure to the digital economy.   AOFEX operates as a centralized exchange that offers low fees and…

Beginner’s Guide To Bitrue – Get More Features from Your Exchange

Bitrue is a digital asset management platform that combines the benefits of a decentralized ecosystem with the convenience of a centralized exchange. The protocol enables users to buy, sell, trade, lend, and stake an array of digital assets with ease. As such, the network continues to expand its market position. Notably, Bitrue currently has over 4 million users.   What Problems Does Bitrue Solve? The developers behind the Bitrue concept sought to reduce or eliminate a variety of issues faced by…

Introducing Vdollar: A Platform Turning Transaction Fees into Assets

Vdollar is a crypto contract exchange platform introduced to provide crypto enthusiasts with the best income opportunities and make contract trading easy. This Colorado registered network has several services like digital currency exchange, a wallet, and trading mining.  The Vdollar network possesses some excellent features, including a mine trading mechanism. In addition, Vdollar has one of the best mining features for its native token, Vdollar. So, how does the Vdollar token operate? This guide will look keenly into the Vdollar…

A Closer Look at an Emerging Crypto Exchange, MEXC

According to the Coinmarketcap platform, more than 366 registered crypto exchanges offer services in different jurisdictions. Every other month, more exchanges join the crypto world with the promise of making things easy for crypto traders and investors. Most of these exchanges prove to be unique by providing top services at affordable rates and fast speeds.  This guide will be reviewing one such exchange, MEXC, a one-stop shop for all crypto exchanging services. Keep reading to know what products and features…

1inch Exchange Review – A Fierce Rival to Uniswap’s Hegemony

Soon, it will be a year since decentralized finance rose to widespread popularity in the crypto industry and beyond. Many of the protocols emerging in 2020 are still on the rise, and the 1inch Exchange leads the pack. More so, it is challenging the superior positions of better established DeFi platforms. 1inch Exchange is an aggregator for decentralized exchanges. It launched in the summer of 2020 and has developed rapidly into one of the most promising DeFi protocols. Furthermore, it…

Binance.US: The American-based Exchange From Binance

The Binance Coin has seen an explosive price action this month, leading it past the $300 mark. Currently trading at slightly over $200, the coin can account for its boom due to its parent company's continued advances. Looking behind its success story is the crypto exchange Binance, founded in 2017 by Changpeng Zhao. The exchange ecosystem operates as a centralized exchange to solve low market liquidity, platform insecurity, and many more. The exchange managed to make massive strides ever since…

Coincheck Review: Asia’s Biggest Cryptocurrency Exchange

Coincheck is a Japanese-based cryptocurrency exchange that provides bitcoin storage services and several crypto exchange operations as of 2014. The multilingual exchange is headquartered in Tokyo, Japan, and offers several trading instruments, including both popular and liquid tokens and a few altcoins. The platform also offers margin trading with a maximum leverage of 1:5, Bitcoin spot trading, crypto lending, and a crypto payment system that automatically converts cryptos to Japanese Yen. Coincheck has the highest Bitcoin trading volume in Japan,…

Luno Full Review – Upgrading the World to a Better Financial System

The crypto is definitely upon us. To say the least, Bitcoin has more than 100 million owners, 400 000 daily users, 200 million Bitcoin wallets, and over 53 million traders. Cryptocurrencies have also emerged to have the highest trading volume compared to fiat currencies.  However, despite the widespread usability of cryptos, mainstream adoption is still a challenge, especially in developing countries in Africa and South Asia due to a lack of supporting infrastructure. Most crypto exchanges and other products are…

BlockSettle Exchange Review – A P2P Exchange with a Bright Future

Every crypto trader’s worst nightmare is losing his assets in an exchange hack. Cryptocurrency exchanges lose money in cyber attacks recurrently. Many times, they lose the people’s assets that they were keeping in custody. And just as often, they suspend withdrawals leaving everyone high and dry. Fortunately, secure peer-to-peer trading alternatives enable users to transfer assets without the exchange ever sniffing them. One of them is BlockSettle Exchange, a crypto/Forex exchange platform that lets you trade directly from your wallet,…