BitFlyer to Open an EU branch. Bitflyer, which is a Japanese based cryptocurrency exchange expanded in the United States last year. According to the recent release by the company, it has received a license to operate as a payment institution in the European Union. Thus, it would be expanding in the European Union as well and would be opening up a new branch in the European Union. According to the CEO of the European branch, with the help of proper API access as well as the robust exchange of trading speed, it would be able to garner newer customers in the European region quite easily.
Bitflyer is the 6th largest exchange
According to coin market cap, Bitflyer is the 6th largest exchange when you compare the Bitcoin trading volumes. It is also the 1st exchange which was regulated in Japan as well as the United States. Now, it is also one of the 1st regulated exchanges in Europe. This ensures that investors are able to get a solid exchange option in the European Union as well.
Bitflyer would initially provide trading in BTC/EUR and would eventually spread out to other cryptocurrencies as well. At the start, it would not be charging any fees to the traders as well as investors. Ever since its launch in the United States in last November, it has been gaining a lot of traction as well.
Hacking attempts as well as other problems
In the light of the recent hacking attempts as well as other problems with the cryptocurrency exchanges, investors are actually looking forward exchanges which they can trust. Since this exchange is regulated and is also operating in 3 different countries, many of the investors would actually prefer this exchanges compared to some of the others. Also, the 0 fee offer would further attract traders as well as investors as well. The traders and investors would be able to invest money in cryptocurrencies without having to pay any fees which is a huge positive. Moreover, with the help of licensed approach, the company would surely be able to gain the trust of the investors as well as traders as well which would be a huge positive for the company.
Pretty successful in the Japanese market
While the company is pretty successful in the Japanese market and is picking up steam in the United States market, it remains to be seen whether it is able to gain the same kind of traction in European Union or whether the traction in European Union is actually on the lower side. In all probability, it would be able to gain a significant amount of traction in the European Union as well.
BitFlyer Review: Most Volume Japanese Bitcoin Marketplace Trading Exchange
Founded by two alumni of Goldman Sachs in 2014, bitFlyer has raised about $36 million in funding thus far. Fees for the U.S. exchange during a beta testing period ranged from 0.11% to 0.25% for both takers and makers, depending on volume — in line with those at other exchanges. GDAX fees for Bitcoin transactions, for comparison, are up to .25% for takers and 0% for makers. bitFlyer said it’s planning to expand its support of U.S. offerings to include Ethereum, Ethereum Classic, Litecoin and others within the next year while it works with regulators to offer global trading in the future.
BitFlyer is a Japanese bitcoin exchange founded in 2014. To date, the company has raised over $36 million USD in 7 rounds of financing. Learn more today in our BitFlyer review.
What Is BitFlyer?
BitFlyer, found online at BitFlyer.jp, is a bitcoin exchange open 24 hours a day, 365 days a year. The exchange is based in Japan.
BitFlyer is particularly well-known for its JPY/BTC pair. It’s one of the most active exchanges for that particular pair. BitFlyer also allows BTC/ETH trading.
Today, you can access BitFlyer online through your browser, or download the mobile apps for iOS and Android.
One of the nice parts about BitFlyer is the easy signup process. You can start your account just by signing up with your Facebook account or email address. However, if you want to buy or sell bitcoin, you’ll need to input more verification details.
Trading fees start at 0.15% for the JPY/BTC, and fall even lower with volume. Altcoin trading (BTC/ETH) is charged a 0.20% fee. Unlike other exchanges, BitFlyer offers just two pairs. At the time of writing, the BTC/JPY pair accounted for over 90% of BitFlyer’s trading volume.
At the time of writing, BitFlyer was sitting at around the 20 to 25 spot in terms of 24 hour trading volume, making it one of the world’s most active bitcoin exchanges.
Simple to Signup: Create an account with just your email address. If you want to access more advanced features, then you’ll need to fill out additional verification details.
High Security: Like all good exchanges, BitFlyer puts a big emphasis on security. Encryption is provided by DigiCert. Real people verify transactions. And bitcoins are stored safely in cold wallets.
1 Second Transactions: BitFlyer doesn’t force you to wait 10 minutes to verify bitcoin transactions. You can use BitFlyer’s BitWire technology to send and receive bitcoins in just one second.
Unlimited Trading: There’s no limit to the amount of buying and selling you can do with a confirmed BitFlyer account.
Futures Trading: BitFlyer offers futures trading through their Lightning platform.
Available Worldwide: BitFlyer caters to the Japanese marketplace, but there’s nothing preventing international users from using the exchange.
BitFlyer is free to create an account. There are no account maintenance fees. Most trades have a charge of 0.15%. However, with volume, your trading fee can drop to as little as 0.01%.
Trades are actually free right now on certain BitFlyer markets, including their bitcoin market and their Lightning FX/Futures market. The company will notify you two weeks prior to making any changes to this free fee structure.
Altcoin trading fees (ETH/BTC) are charged a flat 0.20% rate. That rate doesn’t change with volume.
To withdraw your money, you’ll pay 216 JPY (on SMBC account withdrawals) and 540 JPY (on non SMBC account withdrawals). You’ll pay more if you’re withdrawing over 30,000 JPY.
Further information about fees, including fees for margin calls, sell outs, and withdrawals, can be found on their website.
BitFlyer was founded in January 2014.
According to CrunchBase, the Japanese-based bitcoin exchange has raised $36.11 million in 7 rounds from 10 investors since being founded. Those investors include big names like Digital Currency Group.
In addition to launching their bitcoin exchange, BitFlyer offers other online services – like their crowdfunding website FundFlyer, which is used to publicize and generate awareness for projects while also raising funds in bitcoin.
BitFlyer is headquartered in Tokyo. Key members of the team include Yuzo Kano (CEO) and Takafumi Komiyama (CTO).
BitFlyer is a bitcoin exchange catered towards the Japanese market. The exchange offers low trading fees (0.15% and lower, with volume) on all BTC/JPY trades. Meanwhile, BTC/ETH trades are assessed at 0.20%. BitFlyer makes it easy to sign up, deposit money from a bank, and start trading as quickly as possible.
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