With trading volumes surpassing $100 billion in 2017, bitFlyer is the biggest crypto exchange platform operating in countries such as United States, Japan and the whole European Union. BitFlyer has the biggest trading volume for Ethereum (ETH) when compared to any exchange in Japan as well as the other countries.
BitFlyer made a recent entry in the US crypto market, you can now make Bitcoin (BTC) purchases and that too via paying in fiat currency US dollar. You can start exploring bitFlyer in two separate interfaces. The first one is dashboard and the latter is bitFlyer lightning exchange.
Starting with the dashboard, you can keep an around the clock check on your account here. You can manage your account, trading history and more. Under the home section, one can easily manage their assets as well as can have a look at high-level market data.
Trading on bitFlyer
bitFlyer lightning exchange is meant solely for making trades. The user interface is simple and can be intimidating for fresh investors. Tasks such as submitting the market or limit orders, viewing of associated charts and more can be done here. One should understand that charts available under lightning exchange section offers dedicated and detailed information to users.
You can leverage the depth charts, candlesticks as well as moving averages, respectively. What comes as an important fact is that if you’re looking forward to doing advanced trading then you can simply refer to Special Tab and can further obtain access to multiple automated trades. You should know that the trading fee at bitFlyer rests at 0.0008 BTC while you’re making a withdrawal type transaction. Also, a user is required to pay a fee of $10 USD when they’re withdrawing their assets in US dollars fiat currency.
Stressing upon the type of cryptos available on bitFlyer, well, as a matter of fact, bitFlyer only supports Bitcoin buy and sell for now in the United States. When it comes to other countries, people can get their hands on Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH) and more.
Transfer limits on accounts
Let’s move ahead and talk about the applicable transfer limits on the accounts. Considering the fact that you’re having a basic bitFlyer trade account, a user with that privilege can deposit as well as withdraw up to $2,000 USD per day. If you fulfil the verification criteria and move to the next tier of account, you can increase the daily transaction limit to $3,000 USD.
Also, if you’re a big investor or firm, you can get your hands on the bitFlyer trade pro status by providing necessary information and enhanced due diligence questionnaire. Under the pro status, there would be no limit on the amount one can exchange in a single trade under the pro verified account tier.
Security on bitFlyer
The website is one of the most secured when we talk about crypto platforms. BitFlyer is making use of protocols such as SSL, two-factor authentication and even the multi-signature protocol. One should note that bitFlyer stores over 80% of their funds offline in cold storage wallets.
Further, these cold wallets are thoroughly secured. Also, there is around the clock surveillance and physical locks to keep the customer assets secured. In case of an emergency, a customer can simply email the support team and they might reply the same day. BitFlyer system is meant to support high volumes of trades. Also, a dedicated support for margin trading is available on the portal. You can even make use of bank transfers as well as Japanese credit cards to make purchases.