bitFlyer review: pros, cons and more

Main advantages

Industry-leading security

In terms of security, bitFlyer is one of the best in the business. It uses the latest security measures, including multisig bitcoin wallets that require multiple signatures to send crypto, SSL encryption, two-factor authentication, and regular stress testing of its platform. The exchange also stores most of its crypto funds offline in cold wallets so that they are safe from hackers.

SEE MORE TOP OPTIONS: Best Cryptocurrency Apps and Exchanges

Easy to use

bitFlyer has a user-friendly design that makes it easy to start investing in crypto. The account registration process does not take long. After doing this and verifying your identity, you can add funds to your account and purchase any of the cryptocurrencies offered by the exchange.

Everything is explained clearly in your bitFlyer account, so there’s virtually no learning curve. For example, when you want to deposit money, you just need to click on the “Account Funding” tab. This page will show you the different financing options, along with their respective fees (if applicable) and duration.

Beginner and advanced platforms

There are two options for trading with bitFlyer. Its default buy/sell option is a beginner-friendly platform where you enter the amount of cryptocurrency you want to buy or sell. It also provides information including recent news about this cryptocurrency and a price chart. The downside is that it charges variable spread, which can be expensive.

bitFlyer Lightning is a professional exchange available for clients with Trade Class or above. Customers can be automatically upgraded to this level after identity verification, but if not, you can also contact bitFlyer to request it. bitFlyer Lightning offers enhanced trading tools, much faster trading speeds, and lower costs. For more experienced traders and anyone looking to save on fees, this advanced platform is a great option to make available.

Low fees on pro exchange

Trading fees are quite cheap on bitFlyer Lightning. They start at 0.10% for clients who trade less than $50,000 per month, and go even lower for those who trade more.

Even among the top crypto exchanges, few charge 0.10% or less in fees. If you want to keep trading costs as low as possible, you’ll probably find bitFlyer Lightning to be one of your best options.

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