BitFlyer Review 2025

BitFlyer, established in 2014, is a Japanese cryptocurrency exchange founded by Yuzo Kano. This platform allows its 3 million users to trade various cryptocurrencies with as little as €1.

The company operates under the supervision of CSSF and is a member of the JBA. Bitflyer provides customer services only via email.

BitFlyer Company Information and Regulation

BitFlyer, founded in 2014 by former Goldman Sachs employees Yuzo Kano and Takafumi Komiyama, has quickly risen to become a global leader in the cryptocurrency exchange market. What sets BitFlyer apart from many of its competitors is its strong commitment to regulatory compliance and security. Key points about BitFlyer's regulatory status:

• Obtained a Payment Institution (PI) license from the Luxembourg Ministry of Finance [license number Z00000016]
• Supervised by the Commission de Surveillance du Secteur Financier (CSSF)
• First exchange to become regulated in the US, Japan, and Europe
• Member of the Japan Blockchain Association (JBA)

This regulatory framework makes BitFlyer one of the most compliant virtual currency exchanges globally, providing users with an added layer of trust and security.

BitFlyer Exchange Table of Specifications

To give you a general idea of BitFlyer exchange, let’s review its key specifications based on our crypto exchanges review methodology in a table format:

BitFlyer Exchange Benefits and Drawbacks

Let's take a look at the advantages and disadvantages of using BitFlyer as a crypto exchange:

While BitFlyer excels in security and regulatory compliance, it may not be the best choice for those seeking a wide variety of altcoins or the lowest possible fees.

BitFlyer Exchange User Levels Features

BitFlyer employs a tiered fee structure based on a user's 30-day trading volume. This incentivizes higher volume trading and rewards active users with lower fees.

Traders should consider that the fees apply for both maker and taker. Also free buy and sell fees might be negotiated based on volume and trade frequency.

BitFlyer Exchange Fees and Commissions

Understanding BitFlyer's fee structure is crucial for maximizing your trading profits. Here's a breakdown of the main fees you'll encounter:

BitFlyer Trading Fees

As shown in the previous section, trading fees range from 0.1% to 0.03% based on your 30-day trading volume.

BitFlyer Deposit Fees

BitFlyer doesn’t charge customer for depositing virtual or fiat currencies to the platform. However, Trader who want to deposit Japanese Yen to this platform need to pay 330 JPY transaction fee.

BitFlyer Withdrawal Fees

Unlike most deposit methods, traders must pay withdrawal fees to transfer their assets. Here’s an overview of the fees BitFlyer charges for withdrawals:

It's important to note that these fees may change over time, so always check the official BitFlyer website for the most up-to-date information.

BitFlyer Exchange Coins and Tokens

While BitFlyer doesn't offer as wide a selection of cryptocurrencies as some of its competitors, it focuses on providing a secure and reliable platform for trading the most popular digital assets. As of the time of writing this article, BitFlyer supports trading for the following cryptocurrencies:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ethereum Classic (ETC)
• Lisk (LSK)
• Monacoin (MONA)
• Basic Attention Token (BAT)

In total, BitFlyer offers trading for 8 cryptocurrencies. While this selection may seem limited compared to exchanges that offer hundreds of coins, it allows BitFlyer to maintain high security standards and focus on providing a excellent trading experience for the most widely-traded cryptocurrencies.

BitFlyer Exchange Futures and Margin Trading on Exchange

BitFlyer offers advanced trading options for experienced users through its Lightning Exchange platform. Here are the key features of BitFlyer's futures and margin trading:

• Futures Trading: BitFlyer offers Bitcoin futures contracts, allowing traders to speculate on the future price of Bitcoin without owning the underlying asset;
• Margin Trading: Users can trade with leverage of up to 2x on select cryptocurrency pairs.

It's important to note that futures and margin trading carry higher risks and are only recommended for experienced traders who understand the potential for significant losses.

BitFlyer Account Opening and Verification

Joining BitFlyer is simple and secure. To access trading features, you’ll need to complete a few identity checks. The platform’s KYC process is essential for compliance and user protection, ensuring a trustworthy environment for digital asset trading.

#1 Create Your BitFlyer Account

Head to the BitFlyer homepage and click “Create an Account”. Submit your email address and confirm it via the link sent to your inbox.

#2 Set Up Your Profile

Choose a strong password and fill out your basic information, including:

• First name
• Middle name
• Last name
• Date of birth
• Nationality
• Country of birth
• Residential address
• Financial details

Verify your mobile number via the OTC sent by SMS.

Provide the necessary information to create an account on BitFlyer

#3 Complete Identity Verification

To fully activate your trading account, upload supporting documents on the BitFlyer client dashboard, including:

• Proof of ID: Passport, Residence card, or Driver’s license
• Selfie

Once submitted, your documents will be reviewed. After approval, you’ll gain full access to all trading and funding features on BitFlyer.

BitFlyer Exchange Platforms and Applications Overview

BitFlyer offers multiple platforms to cater to different types of traders:

BitFlyer Easy Exchange:

• Web-based platform for beginners
• Simple buy/sell interface
• Instant purchases of crypto

BitFlyer Lightning Exchange:

• Advanced trading platform for experienced users
• Real-time order books and charts
• Multiple order types and advanced trading tools

BitFlyer Mobile App:

• Available for iOS and Android devices
• Offers both Easy Exchange and Lightning Exchange features
• Push notifications for price alerts and trade executions

Links:

• BitFlyer Android
• BitFlyer iOS

These diverse platforms ensure that BitFlyer can meet the needs of various traders, from beginners to professionals.

BitFlyer Safety Measures

Security is a top priority for BitFlyer, and the exchange implements multiple layers of protection to safeguard user funds and data:

• SSL Communication: All data transmissions are encrypted using SSL technology;
• SHA-2 Encryption: BitFlyer has adopted the more secure SHA-2 cryptographic hash function;
• Two-Factor Authentication (2FA): Prevent unauthorized access by adding an extra layer of security;
• Multi-Signature Wallets: Requires multiple keys for high-volume transaction approval;
• Cold Wallet Storage: The majority of user funds are stored in offline, cold wallets;
• IP Address Restriction: Users can whitelist specific IP addresses for account access;
• Segregated Asset Management: Customer funds are kept separate from company assets;
• Regular Security Audits: Conducted by third-party cybersecurity firms.

These comprehensive security measures have helped BitFlyer maintain its reputation as one of the safest cryptocurrency exchanges, having never been successfully hacked.

BitFlyer Exchange Payment Methods

BitFlyer operates in Japan, the United States, and over 40 European countries, including Germany, France, the UK, Italy, the Netherlands, and the Nordics. While credit card funding is only available to Japanese clients, international users can deposit and withdraw via:

• Bank Transfer: Supports JPY, USD, and EUR deposits via bank transfer
• PayPal: Recently integrated for European users, allowing instant deposits
• Cryptocurrency: Direct deposits and withdrawals for supported cryptocurrencies

Lack of credit card deposit and withdrawals is a drawback traders need to consider before creating an account in BitFlyer exchange.

BitFlyer User Reviews and Trust Scores

It’s time to go through user reviews and Trust Scores in our BitFlyer review.  While BitFlyer is generally considered a reputable exchange, user reviews on platforms like Trustpilot are negative. The BitFlyer Trustpilot profile has received 1.7/5 stars based on 24 reviews which over 92% of them are 1-star reviews.

Unfortunately, the broker support team doesn’t engage in conversations with traders who had negative experiences with the platform.

BitFlyer Features

Let's explore the crypto-specific services BitFlyer offers to its users.

BitFlyer Exchange Support Information

BitFlyer doesn’t provide various supporting channels. Users can only contact BitFlyer team using info.eu@bitflyer.com email or use the comprehensive FAQ section available on the website.

The exchange offers a multi-layered customer support experience:

• An extensive help center organized by categories (account, trading, security, etc.), equipped with a smart search bar
• Direct support via a contact form with typical response times under 24 hours

The support team operates primarily during Japanese business hours (9 AM to 6 PM CET), which may result in longer wait times for users in other time zones. Overall, BitFlyer doesn’t provide the best customer support experience for its users.

BitFlyer Copy Trading Services and Investment Options

BitFlyer offers several investment options beyond simple spot trading:

• Recurring Buy (DCA): Users can set up automatic, recurring purchases of cryptocurrencies, implementing a dollar-cost averaging
• Staking: Traders can stake their Lisk and ETH to receive rewards for securing the network.

BitFlyer continuously evaluate new features to add to their platform.

BitFlyer Exchange Restricted Countries and Regions

Due to regulatory requirements, BitFlyer is not available in all countries. Here’s a list of restricted countries in Bitflyer exchange:

• Europe: Serbia, Ukraine, United Kingdom
• South America: Nicaragua, Venezuela, Vanuatu
• Asia: North Korea, Pakistan, Iran, Iraq, Kazakhstan, Syria, Yemen, Russia
• Africa: Ethiopia, Ghana, Samoa, Papua New Guinea, South Sudan, Somalia, Sri Lanka, Zimbabwe

Users from other countries may be restricted from using BitFlyer's services. Always check the most recent information on BitFlyer's website.

BitFlyer vs Other Exchanges

To better understand the quality of services on the BitFlyer exchange compared to other platforms, we suggest checking the table below.

TF Expert Suggestion

As a highly regulated cryptocurrency exchange with over 10 years of experience, BitFlyer provides services to traders residing in Japan, the US, and Europe. The lack of supporting a wide range of crypto coins and tokens with high instant trading fees, makes it not the most appealing option for most traders.