Bitflyer is a crypto exchange founded in 2014 and is now based in Tokyo. It has official permission to trade in most countries. Its reliability is ensured by large insurance companies in China. Let’s conduct a brief review of Bitflyer to understand its features against other exchanges. If you want to learn more, please visit https://globalcryptoexpert.com/exchanges/bitflyer/.
Features of Bytflier Exchange
Bitflyer has its key differences that make users prefer this particular crypto exchange:
- Interface. Large companies often adjust to newcomers, trying to reach as many potential customers as possible. Bitflyer is no exception.
- Security. The security is one of the foundations of any online company. Security of users’ personal data is ensured by proper advanced technologies. Customer funds are stored in cold wallets, and they are insured.
- Commission. Bitflyer has a transparent system of percentage charges. Each transaction is charged 0.1%, and there are no fees for withdrawals and deposits.
- Educational Service. The exchange offers to study various materials related to the crypto industry. This is important for the initial familiarization with the basic technologies of the crypto market.
- Tools. Bitflyer is also suitable for experienced traders. The site provides the ability to use all sorts of charts and statistics to analyze information, without the need to turn to third-party services.
- Technical support. Any user can contact the corresponding service to get an answer to a problematic question or to find a way out of a complicated situation.
- Centralization. Bitflyer is regulated by law. This means that in order to provide services, you need to confirm your identity.
- Mobile application. Like many other crypto projects, Bitflyer has its own app for mobile devices. Through it, it is possible to perform basic trading operations using a QR code.
Separately, it is worth considering that Bitflyer is focused on Japanese clients. This means that some services or options may not be available to users in other countries.
Is your cryptocurrency safe with bitFlyer?
Bitflyer is a guarantor of security. It is possible to trade on every exchange, but not every such service can guarantee stable reliable operation.
To ensure the safety of any data of its users, the exchange uses:
- Cold storage. Most of the money is stored on standalone wallets that cannot be hacked. At the same time, the possibility of third parties gaining access to them is ruled out.
- Multi-level signatures. A transaction needs multiple signatures to be confirmed. This increases the difficulty of hacking blockchain transfers.
- Two-factor authentication (2FA). An advanced technology, the essence of which is that access to an account needs to be confirmed from multiple sources. For example, through mail and phone.
- Advanced encryption. Encryption is carried out in accordance with modern security protocols.
- Transparency. Any user of the exchange can get acquainted with its protection system in order to understand its work and not fall for the tricks of fraudsters.
Tips for using
Trading digital assets are only one part of the whole crypto trading process. The other part is security. Bitflyer offers tools to ensure it, which are worth taking advantage of.
It’s important to keep the risks in mind. No amount of reliability guarantees stable profits. You need to have a detailed knowledge of how exchanges and cryptocurrencies work to be able to make money. That’s why it’s worth starting with a theory, which Bitflyer kindly provides.