BitFlyer - bitflyer.com REVIEW, TRADING VOLUME AND PAIRS
BitFlyer is considered to be one of the largest cryptocurrency exchanges in the Asian region, which consistently breaks all records. At the time of writing this review, the daily turnover of the bitflyer.com website is almost 74 million dollars. At the same time, more than 97% of the trading volume accounts for the BTC/JPY pair. Aside from the Japanese Yen, fiat US Dollar and Euro are available here. At the same time, the choice of cryptocurrencies is very modest and is limited to Bitcoin and Ethereum.
Features of exchange
BitFlyer exchange was founded in 2014 in Japan. Now it focuses on the Japanese domestic market. Over the years, the platform has earned a reputation of a reliable platform with a wide range of functionality and a high level of protection against cyber attacks.
Platform offers spot trading and margin trading with leverage (1:15). Besides, it is possible to trade bitcoin with futures, which is quite innovative for the crypto-industry. But beginners should remember that the liquidity of the futures market is low, and an inexperienced trader should refuse from using this investment tool. And to get access to all the features of the platform, a trader needs to complete account verification after registering an account.
There are 2 trading platforms on the official website bitflyer.com. The first one, which is called Bitcoin Easy Exchange, is, in fact, a simple exchanger of Japanese fiat Yen for Bitcoin. The second platform is called Lightning, and it looks more like a traditional exchange. Here, the trader has access to trading information, the option of margin trading and other tools.
Commission fees and transactions
Bit Flyer platform provides a flexible system of commissions. At the same time, the fees are lower than average. The trading commission is individual for each pair. For instance, trading of BTC/JPY pair is subject to a commission of 0.15%, which is reduced when the volume of trading increases. The exchange charges the highest commission for trading transactions that include the ETH/BTC pair.
You can deposit either in Bitcoin or Japanese Yen. In this case, fiat money is credited from a card issued only by a Japanese Bank. In this respect, the possibilities of non-residents are limited, but you still can deposit funds in cryptocurrency.
This is a very convenient and innovative exchange, characterized by the following advantages:
• Moderate commission fees;
• User-friendly interface;
• Quality work of the support service;
• Margin trading option;
• The presence of fiat currencies.
Among the disadvantages are the orientation to the Japanese market, a "raw" platform for trading futures and a very poor choice of cryptocurrencies. In all other parameters, exchange is not inferior to its competitors, and judging by the reviews and comments of customers, there you can find everything you need for successful professional trading.