bitFlyer Review 2023
bitFlyer is a leading cryptocurrency exchange and trading platform. They support 9 coins across 12 markets.
In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.
bitFlyer Overview
bitFlyer was built by Yuzo Kano in 2014, and has been in operation since.
The exchange is based in Japan, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.
bitFlyer Services
- Spot Trading. bitFlyer allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.
bitFlyer Payment Methods
bitFlyer supports 12 payment method(s). You can use the following the deposit/withdraw to/from the exchange.
- Bank Transfer
- PayPal
Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.
bitFlyer supports over 3 fiat currencies: USD, , .
bitFlyer Security
bitFlyer offers 1 layer(s) of security. Aside from the obvious, email and password.
bitFlyer requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.
bitFlyer Fees
Like other centralized exchanges, bitFlyer charges fees. This is how they generate revenue, and keep their operation running.
- Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
- Withdrawal fees. bitFlyer charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by bitFlyer.
- bitFlyer's maker fees: 0.2%*
- bitFlyer's Taker fees: 0.2%*
Maker/taker fees are tiered. As you trade more and generate volume, they often fall.