A Comprehensive Guide on Bitflyer Crypto Exchange

A Comprehensive Guide on Bitflyer Crypto Exchange

Lia Jonon
Lia Jonon
Bitflyer, the cryptocurrency exchange, was founded in 2014 by Yuzo Kano. Its representative office and main office are located in Tokyo. The exchange has grown to become one of the biggest players in the market and is licensed to operate in the largest countries in the world.   China's largest insurance organization ensures traders' assets are safeguarded, and the exchange runs crowdfunding campaigns to introduce new developments and attract investment. In this article, we’ll highlight the pros and cons of using it, including the various trading tools and services it offers and the fees associated with them. In addition, the issue of foreign nationals' access to the exchange will be touched upon.

About Bitflyer

The BitFlyer logo is five blue squares lined up at right angles with an orange circle in the middle. The exchange is known for its high trading volumes and low commissions, which attracted traders from all over the world. However, it should be noted that the majority of trading on the platform is against the Japanese Yen (JPY). This is especially true for a number of bitcoin instruments, including:
  • spot trading;
  • margin trading;
  • futures.
The maximum leverage is 1:15 and full verification is required to access margin trading. Along with bitcoin, bitFlyer coins are presented in several other cryptocurrencies for trading.Bitflyer's list of cryptocurrencies includes but is not limited with:
  • Bitcoin
  • Yefir
  • Lightcoin
  • Ethereum
Cryptocurrencies on the exchange
Cryptocurrencies on the exchange
The exchange also accepts a number of fiat currencies, including the Japanese yen, dollars, and euros. Users can deposit and withdraw funds via bank transfers to Japanese cards or bitcoin.  While bitFlyer is primarily focused on the Japanese market, it is also popular with traders from around the world due to its high trading volumes and low commissions. However, there are some restrictions on access for certain countries, including the US and European countries.

Pros and cons of using Bitflyer

Before deciding whether to use bitFlyer as your cryptocurrency exchange of choice, it is important to consider both the pros and cons of the platform. Below we have compiled a list of some of the main advantages and disadvantages of using bitFlyer:
High trading volumes, make it easier to find buyers or sellers for the cryptocurrency of your choice.Bitcoin futures market liquidity is relatively low, which may not suit inexperienced traders.
Low commissions compared to other exchanges, with a maximum of 0.15% for direct JPY to BTC exchange and 0.20% for ETH / BTC exchange (with minimum trade volume).Full verification is required to access advanced tools such as margin trading.
Wide range of trading tools and services including spot trading, margin trading, and futures.International users cannot use bank cards or payment systems to fund their accounts.
Two trading platforms are available: Bitcoin Easy Exchange and Lightning.Japanese market focus results in some services or features not being optimized for foreign users.

 Who should use BitFlyer?

bitFlyer is primarily focused on the Japanese market, and some of its services and features may not be available to foreign users or may not be fully optimized for use outside of Japan.
Despite this, the exchange's low fees and advanced trading tools have attracted traders from around the world, and foreign users may still find bitFlyer a useful and convenient platform for buying and selling cryptocurrencies.

Cryptocurrencies available on Bitflyer

The following table lists the currencies and coins available on Bitflyer, and whether they are available for trading, deposit, or withdrawal:
Available CryptocurrenciesFor tradingFor depositFor withdrawal
Ethereum (ETH)YesYesYes
Ethereum Classic (ETC)YesYesYes
Bitcoin Cash (BCH)YesYesYes
Litecoin (LTC)YesYesYes
Lisk (LSK)YesYesYes
Monacoin (MONA)YesNoNo
Stellar Lumens (XLM)YesYesYes
Basic Attention Token (BAT)YesYesYes
Tezos (XTZ)YesYesYes
Polkadot (DOT)Yes
Bitcoin (BTC)YesYesYes
Please note that availability may vary depending on your location and other factors. For the most up-to-date information on which cryptocurrencies are available, it is best to contact the exchange directly.

Services on Bytflier

All of the tools listed below are traded on the exchange mainly against the Japanese yen (JPY):
  • Spot trading allows you to buy and sell bitcoin, ether, and several other altcoins in real-time at the current market price. It is the simplest and most commonly used type of cryptocurrency trading.
  • Margin trading on bitFlyer allows users to borrow money from the exchange to increase their buying power and potentially make larger profits. However, this type of trading comes with higher risks and is not suitable for everyone. To gain access to margin trading on bitFlyer, users must be fully verified and meet certain requirements, such as maintaining a minimum margin balance.
  • Futures trading on bitFlyer allows users to speculate on the future price of bitcoin by entering into contracts to buy or sell the cryptocurrency at a predetermined price at a future date. This type of trading is suitable for advanced traders who have a good understanding of market trends and can accurately predict price movements. However, it should be noted that bitcoin futures market liquidity on bitFlyer is relatively low, which may not be suitable for inexperienced traders.

Bitflyer opportunities

Bitflyer is a cryptocurrency exchange that offers a number of features to its users. Some of the key features of the exchange include:
  • Exchange platform: Bitflyer has a user-friendly exchange platform.
  • Security measures: Bitflyer takes security seriously and has implemented a number of measures to protect its users and their assets. These include the use of cold storage for digital assets and robust risk management systems to protect against cyber-attacks. In addition, the exchange is regulated by the Japan Financial Services Agency, which adds an additional layer of oversight and protection.
  • Commission structure: Bitflyer has a simple commission structure, with a fixed rate of 0.10% for both market makers and takers. There are no additional fees for deposits or withdrawals.
  • Education Materials. Bitflyer offers a range of educational tools, including guides, tutorials, and articles to help users understand the basics of cryptocurrency trading and make informed decisions.
  • Market Analysis Tools. The exchange provides a number of market analysis tools, including charts and market data, to help traders track the performance of various cryptocurrencies.
  • Customer support: Bitflyer has a dedicated customer support team that is ready to help users with any questions or problems they may have. This team can be contacted via the company's website or Bitflyer app.
One of the key features of the exchange is its exchange platform, which allows users to buy and sell various cryptocurrencies. The platform is accessible through the company's website or the Bitflyer mobile app and is designed to be user-friendly and easy to use.
To start trading, users need to create an account and go through the necessary verification procedures. Once an account has been created, they can start buying and selling cryptocurrencies on the platform.

Bitflyer Worldwide

Bitflyer US is the US division of the company and offers a range of cryptocurrencies for US users to trade. The unit is headquartered in New York and licensed by the New York State Department of Financial Services.
Bitflyer Europe is the European division of the company, headquartered in Luxembourg and licensed by the Luxembourg Financial Industry Supervisory Commission.
Bitflyer Hawaii is the Hawaii division of the company and offers a range of cryptocurrencies for Hawaiian users to trade. The division is headquartered in Honolulu and is licensed by the Hawaii Division of Financial Institutions.
Bitflyer Japan is a Japanese division of the company that offers a range of cryptocurrencies for trading to Japanese users. The unit is headquartered in Tokyo and regulated by the Japan Financial Services Agency.

The registration process and sign-in

To create an account on bitFlyer, users must share and then use an email address and password. The registration process is relatively simple and straightforward, and users can complete it in a few steps:
  1. First, you need to provide your personal information: full name, date of birth, and email address. Then you have to agree to the terms of use.
  2. Secondly, go through a verification process to confirm your identity and address. To do this, users take photos of their personal documents. The specific papers required may vary depending on the location of the user and the level of verification required to access certain features or services of the exchange.
  3. Once the verification process has been completed, users can log in to bitFlyer and start fully trading.
Registration process on bytFlier
Registration process on Bitflyer

Trading with Bitflyer

To start trading on Bitflyer, you need to create an account on the exchange. Here is a step-by-step guide to help you get started:
  1. Go to the Bitflyer website and click on the "Register" button in the top right corner complete the registration process (see above).
  2. Once your account has been verified you will be able to start trading on the exchange. To do so, you will need to deposit funds into your account. Bitflyer accepts various payment methods, including bank transfers and credit/debit card payments.
  3. Once you have deposited funds, you can start trading on the platform. To buy or sell a cryptocurrency, simply search for it on the exchange and place an order. You can choose to place a market order, which will execute a trade at the current market price, or you can place a limit order, which will execute the trade at a specific price.
  4. Once your trade is executed, you can view your balance and portfolio on the exchange. You can also withdraw your funds at any time by going to the "Withdrawal" section of the platform and following the instructions provided.
In general, trading on Bitflyer is simple and straightforward.

Exchange platforms

BitFlyer offers its users two trading platforms: Bitcoin Easy Exchange and Lightning.
Bitcoin Easy Exchange is intended for direct JPY / BTC exchange and is aimed at users who want to buy bitcoins for further cryptocurrency trading.
Despite its simplification, the platform is fully fit for purpose. Lightning, on the other hand, is more similar to traditional trading platforms and offers access to margin trading and other advanced tools.

 Ways of deposit and withdrawal

The bitFlyer crypto exchange offers some opportunities for deposit and withdrawal for users:
  • Bank Account Transfer
  • Debit Card and Credit Card
  • E-Wallets
  • Wire Transfer
  • Cryptocurrencies

 How to deposit funds

To start trading process after creating a new account you need to make a deposit. You can choose a standard bank transfer. This way funds can be credited to the account after a while. The registered bank accounts of customers from Europe should be supported by the SEPA system.
Make a deposit from your electronic wallets. This way of deposit appears on bitFlyer recently. The money transfer takes place instantly.
For funding, you need to make some simple steps. Firstly, log in to bitFlyer. In the top menu, there is the “Account Funding” bottom. On the opened page you will see withdrawal parameters. Choose a preferred fiat currency. Then enter the information about your bank account and 6 digits unique character code. Check the entered info.
Customers even have an opportunity to deposit BTC to bitFlyer. On the page “Account Funding” you need to choose “Deposit BTC” and enter your bitFlyer wallet.

How to make a withdrawal

In order to make a withdrawal after trading BTC bitFlyer on the exchange platform, you need to open the “Account Funding” page and select a convenient way of withdrawal. If you want to receive funds in any currency to a bank account, mark an appropriate box. Then enter the amount and click “Proceed to Withdraw”.

 How to withdraw currencies for foreign users: restrictions

Foreign users of bitFlyer may be inconvenienced by the fact that they cannot use bank cards or payment systems to fund their accounts on the exchange. The only depositing options available are bank transfers and bank cards issued in Japan. This means that foreign users may have to go through additional steps such as opening a bank account in Japan or obtaining a Japanese-issued bank card to be able to use the exchange.
Money withdrawal
Money withdrawal
As for withdrawals from the bitFlyer wallet, the options available may depend on the location of the user and the specific cryptocurrency being withdrawn. Some common withdrawal methods include bank transfers and cryptocurrency transfers to a personal wallet. However, it is important to note that certain restrictions and fees may apply to these methods, and users should carefully review the terms of the exchange before initiating a withdrawal.

BitFlyer Fees

There is no fee for opening an account on the exchange platform. Also, you will not pay the fee for account maintenance and virtual currency deposit
BitFlyer does not charge a commission from the seller/ buyer, although such a system is common on other exchanges. The system provides different fees for the platforms on which users work. The advanced Lightning trading platform has higher fees than the standard program for novice traders.
Making a Bitflyer review we noticed that the principle of fees on bitFlyer is built according to the same scheme as on other exchanges. Commissions are deducted from the amount spent through the account for a 30-day period.
Opening an account on the exchange platform
Opening an account on the exchange platform
Here are tables of fees that Bitflyer incurs for trades made on the Lightning platform in different currencies:

BTC/EUR Trading Fees

Past 30 day volumeLightning SpotBuy/Sell
€0 — Less than €1 million0.20%No trading fee
€1 million — Less than €10 million0.15%
At least €10 million20.10%

BTC/JPY Trading Fees

Past 30 day volumeLightning Spot
€0 — Less than €1 million0.20%
€1 million — Less than €10 million0.15%
At least €10 million20.10%

ETH/EUR Trading Fees

Past 30 day volumeLightning SpotBuy/Sell
€0 — Less than €1 millionFree3No trading fee
€1 million — Less than €10 million
At least €10 million2

ETH/BTC Trading Fees

Past 30 day volumeLightning Spot
€0 — Less than €1 millionFree3
€1 million — Less than €10 million
At least €10 million2
  • For making a withdrawal in EUR to a bank account supported by the SEPA system bitFlyer incurs a fee in the amount of 0,3 EUR if the withdrawal amount is less than 250.000. On the other way if you want to withdraw more than 250.000 EUR commission will be 10 EUR.
  • If you make a deposit from a PayPal account or Google Pay you will also pay a fee. For the transaction of funds from the European Economic Area, the system removes a commission in the amount of 4,9% + 0,35 EUR. If the virtual wallet belongs to a location outside the European Economic Area, the commission will be 4,9% + 1% + 0,35 EUR.
Trading Fees
Trading Fees
Here is a table with fees that exchange platform incurs for withdrawing in bitflyer cryptocurrency:
Withdrawal Fees
Bitcoin (BTC) Withdrawal Fee0.0004 BTC
Ethereum (ETH) Withdrawal Fee0.005 ETH
Bitcoin Cash (BCH) Withdrawal Fee0.0002 BCH
Ethereum Classic (ETC) Withdrawal Fee0.005 ETC
Litecoin (LTC) Withdrawal Fee0.001 LTC
Monacoin (MONA) Withdrawal FeeFree
Lisk (LSK) Withdrawal Fee0.1 LSK
Basic Attention Token (BAT) Withdrawal Fee5 BAT
Stellar Lumens (XLM) Withdrawal FeeFree
Tezos (XTZ) Withdrawal Fee0.1 XTZ
Polkadot (DOT) Withdrawal Fee0.1 DOT

 Is your cryptocurrency safe with bitFlyer?

 The practice has shown that bitFlyer is one of the safest global exchanges today. The strategy and security system are at the highest level and are constantly being improved.
bitFlyer is a member of the Japanese Blockchain Association (JBA), this organization specializes in developing reliable and secure environments for business and digital currency trading.
Below is a list of methods that are used on the platform to ensure user security:
  • BitFlyer uses a strategy of autonomous "cold" storage, in which the main crypto fund is stored. Due to this method, the highest level of security is achieved. The American division of bitFlyer shows statistics on its homepage about its cold storage. According to this data, the entire American crypto fund is located on autonomous wallets. The platform Lightning transfers more than 80% of funds to cold offline accounts.
  • For greater security, bitcoin addresses with multi-level signatures are used in the system. To make a transaction of funds from addresses, you need to sign the procedure with several signatures. This makes it much more difficult for cybercriminals to steal funds.
  • BitFlyer system supports two-factor authentication (2FA). To do this, you need to enter your password and a one-time code sent to your mobile device to gain access to your bitFlyer account.
  • It uses the most reliable encryption technology. Customer information and internal communications are encrypted using SSL, and SHA-2 standards have been adopted for data encryption.
  • The bitFlyer system regularly checks for viruses and takes measures to prevent hacking. These stress tests are designed to identify any potential vulnerabilities so that bitFlyer can fix them.
The main advantage of bitFlyer is transparency regarding its security features. There is detailed information about the exchange's security tools on its website.

 Mobile App BitFlyer

The Bitflyer exchange offers a mobile application for Android and iOS systems. It is equipped with many functions, such as buying/selling and transferring/storing BTC in the bitFlyer wallet.
 Mobile App BitFlyer
Mobile App BitFlyer
The mobile app is fast and user-friendly. You can even use a QR code to transfer virtual currencies.

How bitFlyer Compares to Other Cryptocurrency Companies

Compared to other top 20 cryptocurrency exchanges on CoinMarketCap, bitFlyer offers a relatively short list of currencies and prices that may be better or worse than competitors, depending on market conditions. Here's a closer look at comparing bitFlyer to a larger coin exchange base.

BitFlyer vs Cionbase

  • Founded in 2014
  • Features 9–14 currencies, depending on the region
  • Fee-free plus a spread of 0.1% to 6.0% on the basic platform
  • 10% or less fee on the active platform
  • Founded in 2012
  • Features over 160 currencies
  • Maker-taker fees that are 0.6% or less per trade

Customer Satisfaction

BitFlyer users have not received a broad overview of the company's customer service on third-party sites, but limited data indicate poor customer support, although this is quite typical for cryptocurrency exchanges.
BitFlyer Lighting
BitFlyer Lighting
As is the case with most companies in this industry, you should consider accounts primarily for self-service.

Tips and best practices for using the Bitflyer platform

When using the Bitflyer platform to trade cryptocurrencies, it is important to follow some best practices to ensure a smooth and safe experience. Here are some tips to get you started:
  • Establish robust security measures: To protect your account and assets, it is important to establish robust security measures. This could include enabling two-factor authentication, using a strong password, and keeping your device and software up to date.
  • Manage your risk: Cryptocurrency trading involves a certain level of risk, so it's important to manage risk carefully. This can include diversifying your portfolio, setting stop-loss orders, and following a risk management plan.
  • Stay informed: To make informed decisions when trading cryptocurrencies, it is important to stay abreast of market trends and news. Bitflyer offers a range of educational materials and market analysis tools to help users stay informed.
  • Use a separate wallet: To ensure the safety of your assets, it is wise to use a separate wallet for your cryptocurrencies. This will help reduce the risk of loss should security issues arise on the exchange.
Overall, following these tips and best practices will help ensure a smooth and secure experience when using Bitflyer's cryptocurrency trading platform.

Accepted Countries

GermanyDenmark United Kingdom
AustriaCzech RepublicPoland


Access to the platform from the USAPayment methodsContacts
 YesBank Deposits (ACH):  FreeWire Deposits (Fedwire): FreeBank Withdrawals (ACH): FreeWire Withdrawals (Fedwire):  $20https://bitflyer.com/en-us/
Information about company
Country of headquartersTokyo, Japan
Year of foundation2014
Type of exchangePrivate Cryptocurrency Exchange
Trading is allowedBitFlyer's trading activities are officially licensed in Japan, the USA, and Europe


  • Is bitFlyer safe?
Exchange platform bitFlyer is among the top of most reliable global cryptocurrency exchanges today. We told about the methods and security system above.
  • Is bitFlyer trustworthy?
BitFlyer conducts fully licensed and legal activities on the territory of several countries in Europe, the USA, and Japan. During its activity, the exchange has gained the trust of users from all over the world.
  • Can American investors trade with bitFlyer?
BitFlyer has a division to operate in the United States. On the bitFlyer US platform, users can perform the same operations as on the main database. bitFlyer US is a separate organization from the European and Japanese exchanges, so users in the US will need to create an account on the bitFlyer US website.
  • How to withdraw money from BitFlyer?
Exchange platform offers several ways for customers to make a withdrawal. On the “Account Funding” page you have to select a convenient method and currency.
  • What are the fees on BitFlyer?
 Detailed information about the commission was discussed above and can also be found on the official website.
  • Is bitFlyer regulated?
 Yes, bitFlyer conducts licensed activities.
  • What coins are on bitFlyer?
 Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Monacoin (MONA), and Lisk (LSK).
  • What countries support bitFlyer?
 Japan, the United States, and in all European countries.
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