bitFlyer is a bitcoin exchange and marketplace that allows its customers to buy, sell and spend bitcoins. Users of the exchange can buy/sell cryptocurrencies among themselves or buy/sell directly with bitFlyer itself.
bitFlyer is limited to only five cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Litecoin (LTC). bitFlyer supports some other cryptocurrencies in certain countries, such as XRP and MonaCoin, only in Japan.
Popular cryptocurrencies such as Cardano (ADA), Polkadot (DOT), and Avalanche (AVAX) are not available on the platform.
bitFlyer‘s first service was its cryptocurrency exchange, which initially focused on bitcoin. Later, the company added futures contracts and bitcoin derivatives to the exchange. In 2017, 75 percent of transactions on bitFlyer were derivatives, where users make investments based on their prediction of future bitcoin prices
The exchange offers a simple buying experience through its desktop and mobile dashboards for users looking to buy cryptocurrencies. Users can make instant purchases by depositing fiat currencies into their accounts for free via bank transfer or ACH transfer. They can also deposit cryptocurrencies via a digital wallet to trade on the bitFlyer platform.
bitFlyer allows customers to buy cryptocurrencies with as little as $1, although there are minimum withdrawal amounts for each cryptocurrency. Users can buy cryptocurrencies on the spot with limit orders or buy them with a market order at current market prices.
bitFlyer keeps 80% of all customer-owned bitcoin in cold offline storage. This protects these assets from online hacks.
Support from bitFlyer is only offered via email, and users can only reach the support team via the bitFlyer contact form.
bitFlyer was founded in 2014 by Yuzo Kano (Linkedin), a former derivatives and bond trader at Goldman Sachs.
Due to the current tense crypto industry, we downgrade all crypto companies to ORANGE for an undetermined period of time.