№ 21 | bitFlyer - Cryptocurrency Exchanger Review CENTRALIZED
bitFlyer is a cryptocurrency exchange that can be considered as one of the most popular in the Asian market.
In addition, due to the considerable trading volumes, this exchange can be considered as one the world leaders. Users, who set off their comments, mostly express a positive ranking of bitFlyer.
The company was created in 2014 in Japan. It should be notable that the huge portion of the trading on the exchange is in pair against the yen. Firstly, it refers to a great choosing of trading tools for working with Bitcoin (BTC), as spot-trading and trading with futures.
To get an access without restrictions for margin trading, users should verify their personality.
In addition, the platform offers a choice for trading with Bitcoin futures. The liquidity of this marketplace is rather small, so trading on this exchange isn’t recommended for beginners.
The value of the commissions depends on the certain service that you use. For the trading pair JPY/BTC, the peak percent of commission is 0.15%. The peak level of commission is charged for the exchange ETH/BTC which is 0.20%.
There are two trading platforms at the bitFlyer.
First platform is called «Bitcoin Easy Exchange» and is intended for direct exchange of JPY to BTC.
Despite the clear uncomplicatedness, the platform is fully focusing on its aim.
The second platform is called «Lightning». It is much more equivalent to habitual trading platforms. Here you can access the margin trading and other advanced tools. bitFlyer accepts bank transfers, bankcards issued in Japan and Bitcoins.
Although the company is mainly focused on the native market, foreigners can participate without problems in the bidding proceeding. Unfortunately, you will not be able to use the bankcard or payment systems to cash-in the account.
bitFlyer is Japan's most acclaimed exchange and one of the biggest by trade volumes.
Despite the assimilation toward domestic market, little fees, bitFlyer fascinates traders all over the world.
The daily trading volume of bitFlyer is approximately close to $50 millions of dollars. At the time of writing only 4 crypto assets listed on bitFlyer.
- Great choosing of trading tools;
- Trading with Bitcoin futures.
- Focus only on the Asian market;
- Low liquidity;
- Lack of cryptocurrency diversity.