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What is bitFlyer, a cryptocurrency exchange? 

Cryptocurrency (virtual currency) exchanges include security, number of stocks handled, liquidity, etc. as criteria when choosing an exchange.

BitFlyer, a major domestic cryptocurrency exchange, boasts the highest level of security in the industry and handles a large number of 13 types of stocks. It is an environment where it is easy to close transactions because there are a large number of users and the liquidity is high. Therefore, it can be said that all the above three conditions are satisfied.

In this article, we will explain the features of bitFlyer, the brands we handle, and the recommended points for beginners.

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BitFlyer operating company and basic specifications

bitFlyer is one of the largest cryptocurrency (virtual currency) exchanges in Japan. Bitcoin trading volume has been No. 1 in Japan for 5 consecutive years and is gaining popularity from many crypto traders. * 1

In addition, according to the [Material] disclosed by bitFlyer, assets under custody in March 2009 exceeded 573.2 billion yen, a record high. Since it is a large and reliable exchange, even beginners of cryptocurrency trading can use it with confidence.

* 1 Searched by Bitcoin Japanese information site. 2016-2020 annual volume (including contract for difference / futures trading) at domestic crypto asset exchange companies.

Overview of bitFlyer operating company

BitFlyer, the largest exchange in Japan, was established in January 2014. Its main business is virtual currency exchange business and financial instruments trading business, and it is an exchange that is gaining popularity from a wide range of people from beginners to advanced users of virtual currency trading.

BitFlyer is also expanding its services in Europe and the United States, offering Bitcoin physical exchanges, cryptocurrency sales offices, and margin trading (lightning FX). Margin (leverage) trading volume boasts a high market share worldwide and is characterized by a wide range of altcoin handling.

In addition, on October 14, 2021, it announced that it was registered as a “Class 1 Financial Instruments and Exchange Act” based on the Financial Instruments and Exchange Act. After receiving the registration, it is expected that the new registration of the crypto asset margin trading service, which is an over-the-counter derivative transaction under the Financial Instruments and Exchange Act, will be resumed.

The deadline for acquiring the first-class financial instruments business operator license is approaching on October 31, 2021, and domestic businesses that could not complete the registration have no choice but to stop the margin trading service. rice field.

As the largest domestic Bitcoin margin trading company, we were wary of the impact on the market if registration was not completed, but the registration completion report received a great deal of feedback from crypto investors.

Handles 13 popular currency brands

You can trade 13 popular currency stocks on bitFlyer. Below, we will introduce the stocks we handle by dividing them into physical trading and leveraged trading.

2-1 In-kind transactions

In-kind transactions are in-kind and cash transactions of virtual currencies. It cannot be leveraged like leveraged trading, but it has the advantage of not losing more than the funds on hand.

In bitFlyer’s physical trading, 13 types of currencies can be traded, mainly major currencies such as Bitcoin, Ethereum, and XRP. Since there are a wide variety of currency brands, it is recommended for those who want to trade not only Bitcoin but also various virtual currencies.

2-2 Leverage trading

Leverage Leverage in trading means the principle of leverage. In leveraged trading, by applying leverage to the margin, you can trade a large amount even with a small margin.

BitFlyer allows leveraged trading of Bitcoin. You can leverage Bitcoin, the most popular cryptocurrency, and aim for big profits even with a small amount of money.

2-3 Various fees

Some bitFlyer fees are free. For Bitcoin, there are no trading fees at the sales office and Lightning FX / Futures. For Altcoin, there is no transaction fee at the sales office, and for MonaCoin, Ripple (XRP), and Stellar Lumen, there is no shipping fee.

Below, we will explain various fees.

2-3-1 Transaction fees

Please note that transaction fees are different for Bitcoin and Altcoin. For Bitcoin, the transaction fee for Bitcoin Easy Exchange and Lightning spot (BTC / JPY) is about constant amount x 0.01 ~ 0.15%, and the transaction fee for Bitcoin sales office and Ligntning FX / Futures is free.

Like Bitcoin, Altcoin can be traded at the sales office for free. In addition, the fee for the actual Lightning of XRP, Ethereum, Stellar Lumen, and MonaCoin is the contracted amount x 0.01 to 0.15%, and the fee for the actual Lightning of Ethereum / Bitcoin and Bitcoin Cash / Bitcoin is the contracted amount x 0.2%.

2-3-2 Deposit and withdrawal fees

The deposit fee for bitFlyer depends on the bank account from which you made the deposit. There is no fee when depositing from SBI Sumishin Net Bank, and 330 yen including tax when depositing from an account other than SBI Sumishin Net Bank.

Similar to the above, the withdrawal fee also depends on the withdrawal bank account and the withdrawal amount. If the withdrawal destination bank account is Sumitomo Mitsui Banking Corporation, the withdrawal amount is 220 yen including tax if the withdrawal amount is less than 30,000 yen, and the withdrawal amount is 440 yen including tax if the withdrawal amount is 30,000 yen or more. If the withdrawal destination bank account is other than Sumitomo Mitsui Banking Corporation, the withdrawal amount will be 550 yen including tax for less than 30,000 yen, and 770 yen including tax for 30,000 yen or more, so be careful.

Perfect security measures

Thorough security measures are indispensable for cryptocurrency transactions where there are concerns about cyber attacks and hacking damage. At bitFlyer, we are developing a highly secure wallet using a technology called multi-signature.

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Multi-Signature is the latest Bitcoin technology developed for security. With multi-signature, even if one of his private keys, which is important data, is leaked, Bitcoin cannot be sent without another key, so the leakage of customer assets can be prevented.

In addition, bitFlyer uses a cold wallet to manage Bitcoin. A cold wallet is a management method that is not connected to the network and is physically separated from the Internet. Since bitFlyer manages more than 80% of the account users and the bitcoins owned by the company with a cold wallet, the risk of leakage is low and you can use it with confidence.

bitFlyer is the largest Bitcoin trading volume in Japan and the largest cryptocurrency exchange in Japan. Even those who are starting cryptocurrency trading will be able to challenge trading with confidence at the popular exchange bitFlyer. * 2

We also offer an attractive trading environment, including thorough security measures using multi-signature technology and cold wallets, and 13 types of stocks covering major currencies. By all means, please explain your account with bitFlyer and challenge virtual currency transactions.