Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
The company has been around since 2014, and there never has been news about a hack or any funny business. Since it is by far the biggest trading platform in Japan, they must be doing something right. For now, their platform seems to be a very safe place to store your crypto or margin trade it.
The fees charged by bitFlyer are veried depending on what you are trying to accomplish on their platform. They offer directly exchanging JPY to BTC, the fees for which go as high as 0.15% for the lowest volume traders. The maximum fee for ETH/BTC is 0.20%. The most important thing to note when trading on bitFlyer, from a western trader’s point of view is that trading is done (mostly) against the Japanese YEN (JPY), unlike most exchanges where you can trade cryptocurrencies against one another, the US Dollar and occasionally the Euro.
bitFlyer only offers the purchasing and trading of BTC through JPY. Then they offer the trading pair of ETH/BTC. That’s about it. Now, bitFlyer does provide two separate trading platforms which are both web based. So one day they may plan to add more tokens to one or both exchanges.
EASE OF USE
The simple fact that bitFlyer decided to go above and beyond to offer 2 different trading platform environments is awesome news for traders and investors. One of them is the so called Bitcoin Easy Exchange, which serves the crypto-beginner fairly well, and its sole purpose is to facilitate direct JPY to BTC transfers. The other platform is called The BitFlyer Lightning platform. It feels and looks much more like a forex trading platform, as it is designed with the expert-trader in mind.
bitFlyer is the biggest cryptocurrency exchange in all of Japan. It also does a decent job at competing with some of the biggest exchanges in the world when it comes to daily volume traded. The biggest thing that you will want to remember with bitFlyer is that trading is done against the Japanese Yen (JPY), not the USD or EUR. bitFlyer has never been hacked, and yet they are one of the oldest exchanges in the world. They really put the trader at the forefront of their product by offering two separate exchanges, one for the beginners and one for the experts.