BitFlyer is a well-known Japanese crypto exchange that offers digital asset trading and exchange solutions in Europe, USA and Japan.
What is BitFlyer Exchange, What Does It Do?
Cryptocurrencies have entered our lives with Bitcoin (BTC). Then, more than 12,000 cryptocurrencies were formed. The need for platforms to trade cryptocurrencies with investors from all over the world has also increased. Various cryptocurrency exchanges have also been created for different cryptocurrencies. One of them is bitFlyer. BitFlyer is a Japanese cryptocurrency exchange founded in 2014. It also offers digital asset trading and clearing solutions in Europe and the USA, especially in Japan.
It allows its users to buy and sell Bitcoin, among other cryptocurrencies, using fiat currencies such as JPY, EUR or USD. The Japanese cryptocurrency exchange is more famous in the US and Europe, although it gains its primary popularity in Japan. This is due to low transaction fees, responsive customer support. It is also simple to use and suitable for beginner traders. It is an effortless and secure platform. Besides that, it charges low trading fees, supports margin and futures trading, and offers an institutional account.
How BitFlyer Works
The Japan-based cryptocurrency exchange uses the Lightning Exchange to offer Spot and Currency Futures trading. It also supports crypto derivatives, margin trading and fast execution for experienced traders. BitFlyer has established its popularity with cryptocurrency trading. It allows traders to buy and sell Bitcoin, Ethereum Classic, Bitcoin Cash, Litecoin and Ethereum. BitFlyer USA only supports Bitcoin, while the Japanese trading platform supports XRP, Monacoin and Lisk. It also offers the option to trade crypto without any limits. Users can choose Lightning Exchange to trade with the Pro Exchange option without any limitations.
BitFLyer offers a blockchain service called chainFlyer that provides a simple visualization of Bitcoin’s structure. It shows real-time BTC transactions and uses animations to simplify the process. Also, similar to ChainFlyer, Blockchain Lab provided by bitFlyer provides data on Bitcoin transactions, addresses and blocks. In addition, he carries out research and development studies on Blockchain technology. Lightning API Playground is an API service offered by bitFyer to automatically perform operations using the software. The solution is ideal for users with security and programming experience. It also offers a real-time alternative with Realtime API Playground.
Advantages
- It is very easy to use. For this reason, it is also a suitable platform for new investors.
- It is extremely high in liquidity.
- It is a regulated and licensed platform.
- It has multiple trading platforms.
Disadvantages
- It supports a limited number of cryptocurrencies.
- Credit card transactions are only supported in Japan.
- Customer support services do not have live chat support.
- Lightning Spot Market only supports Bitcoin.
