Comparison of Bitflyer vs Biking [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitflyer vs Biking comparison!

Your expert: Alejandro Borja

Bitflyer

Investing risks losing your money

Your expert: Xavier Tarrasó

Biking

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

2/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with some discounts for high-volume trading.

3.7 – Competitive fees but some charges for premium features.

Level

0,10%

0,10% /0,20%

Brief explanation

BitFlyer structures its commission fees with an aim to be transparent and competitive, though they are often perceived as slightly higher than some of its global competitors. The exchange charges a flat fee for transactions, which can vary slightly depending on the market conditions and the specific services used. For instance, trading Bitcoin typically incurs a fee of about 0.1% to 0.15%, but this can differ for other cryptocurrencies or more complex transactions such as futures or options trading. Importantly, these fees contribute to the high level of security and regulatory compliance that BitFlyer offers, making it a trusted platform despite the slightly higher costs.

BiKing Exchange employs a competitive fee structure designed to accommodate both casual and high-volume traders. The platform charges a basic trading fee, with discounts available based on trading volume, encouraging active trading. This tiered fee approach ensures that both small-scale traders and large investors can operate efficiently. The fees are structured to be transparent and are clearly communicated on the platform, making it easy for users to understand how much they will be paying per transaction. This setup not only fosters a fair trading environment but also enhances the overall trading experience by minimizing unexpected costs.

Bitflyer

Year Founded: BitFlyer has been operational since 2014, giving it a long-standing presence in the cryptocurrency world. This longevity in the rapidly evolving digital currency landscape speaks to its stability and enduring commitment to its users.
Security Methods: BitFlyer employs rigorous security measures, including compliance with multiple regulatory standards across jurisdictions. It uses advanced encryption and follows strict internal security protocols to safeguard user data and funds.
Possible Regulation: The exchange is one of the few that has successfully navigated the strict regulatory environments of Japan, the United States, and Europe. It holds significant licenses, including the prestigious New York BitLicense, enhancing its credibility and trustworthiness.
Reputation and Reviews: BitFlyer's reputation in the crypto community is strong, bolstered by positive reviews from users who praise its user-friendly platform and security practices. Its regulatory compliance further reinforces its reputation as a trustworthy platform.
Trading Volume and Liquidity: With a substantial trading volume and high liquidity, BitFlyer offers users the advantage of better price stability and the ability to execute large transactions with minimal impact on the market price, making it a reliable platform for trading major cryptocurrencies.

Read bitflyer review

Biking

Security Methods: BiKing Exchange employs robust security protocols, including multi-layer encryption, deep cold storage for funds, and multiple offline signatures for transactions. These measures provide strong safeguards against unauthorized access and loss of funds, establishing a secure trading environment.
Year Founded: Since its establishment in 2017, BiKing Exchange has shown consistent growth and stability in the highly volatile crypto market. This longevity is a testament to its adaptability and commitment to serving its users effectively, building trust over time.
Reputation and Reviews: The exchange has maintained a positive reputation within the cryptocurrency community. User reviews often highlight the reliability, user-friendly interface, and the responsive customer support provided by BiKing, indicating a high level of satisfaction among its clients.
Trading Volume and Liquidity: BiKing Exchange supports significant trading volume and liquidity, ensuring that users can execute trades quickly and at desired prices. This capability is crucial for both casual and serious traders who need to manage their portfolios efficiently and capitalize on market opportunities.
Customer Service: The platform provides 24/7 customer support, ensuring that user queries and issues are addressed promptly. This commitment to customer service enhances user trust, as participants know they have continuous support for any issues they might encounter.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Biking Technology Co., Ltd

Regulation

Regulated in Japón

Not regulated

Year founded

2014

Unknown

Founder

Yuzo Kano

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Biking
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	BiKing offers a reasonable minimum trade limit, accommodating both small and large traders.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	The exchange boasts low trading fees at 0.01% for both makers and takers, promoting active trading.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	While BiKing supports major cryptocurrencies like Bitcoin and Ethereum, it has a more limited selection compared to larger exchanges.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Offers a modest range of crypto-to-crypto trading pairs, sufficient for mainstream traders but less so for those seeking variety.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	BiKing provides clear information about trading fees and security measures but could improve on regulatory disclosures.
bitFlyer offers a prepaid card in Japan, which can be used for online and in-store purchases. This card allows users to spend their crypto directly, making it convenient for daily use.	Credit/Debit Card	Without a dedicated exchange card, users of BiKing Exchange may miss out on the convenience and rewards typically associated with such cards in the cryptocurrency space.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Utilizes secure cold storage solutions to ensure the safety of user funds against potential threats.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Offers staking options and rewards, although the range and returns are somewhat limited compared to competitors.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and robust, offering a seamless trading experience.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Provides 24/7 customer support with good response times and helpful assistance.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though limited by the lack of fiat currency support.

Key features

Analysis tools

Basic to intermediate charting tools

Unknown

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Spot trading, margin trading, Bitflyer Lightning exchange, recurring buys

Social trading, copy trading, margin trading, futures contracts

Anonymity

Yes

Key points

Available cryptocurrencies

10+

50+

User-friendliness

Bitflyer features a simple and intuitive interface, ideal for beginners. The platform focuses on providing a seamless trading experience, making it easy for new users to buy and sell cryptocurrencies.

Biking offers an intuitive platform with a user-friendly interface, ideal for beginners. The platform’s design ensures that users can easily navigate and execute trades without encountering unnecessary complexity.

Value for money

Provides reasonable value for money with low trading fees and a user-friendly platform, making it a good choice for beginners.

Provides reasonable value for money with competitive fees and a user-friendly interface, suitable for both beginners and experienced traders.

Countries of operation

Japan, United States, Europe

United States, Canada, United Kingdom, Australia, Germany

Best for

Great for beginners and experienced traders in Japan, the US, and Europe who want a user-friendly platform with competitive fees.

Ideal for both new and seasoned traders who want a user-friendly interface and competitive fees.

Base currencies available

JPY, USD, EUR, BTC

CNY, BTC, USDT

Account

Trading

Bitflyer provides a secure and easy-to-use platform with a decent selection of cryptocurrencies. It is particularly popular in Japan. However, it lacks some of the advanced trading features found on other major exchanges.

Biking is a smaller exchange that provides basic trading functionalities. It’s suitable for beginners but may not meet the needs of advanced traders due to its limited tools and lower liquidity.

Deposit and withdrawal

Bitflyer offers secure and efficient deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawals are processed within a day, and fees are competitive .

Biking offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

Bitflyer’s account opening process is easy and efficient. Users need to provide personal information, verify their identity, and address. The process is fully digital and typically takes less than a day.

Biking’s account opening process is straightforward, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes

Customer Service

Bitflyer offers customer support via email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

Biking offers customer support through email and live chat. The response time is generally quick, but the support team is not available 24/7, which may be inconvenient for some users.

Security

Bitflyer ensures high security with 2FA, encryption, and cold storage. It is regulated by Japanese authorities, ensuring strong security for investors.

Biking offers robust security features, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend BitFlyer for users new to cryptocurrency trading due to its user-friendly interface and robust security measures. While its trading fees are a bit higher and the variety of cryptocurrencies somewhat limited, BitFlyer’s strong regulatory compliance and excellent platform stability make it a reliable choice for those prioritizing security and ease of use. If you’re starting your crypto journey, BitFlyer is a commendable option to consider.

Xavier Tarrasó

As an expert on our website, I’d recommend BiKing Exchange for traders prioritizing security and low transaction fees. It’s particularly well-suited for those dealing primarily in major cryptocurrencies like Bitcoin and Ethereum. While the platform could improve by expanding its cryptocurrency selection and adding fiat currency support, its robust security measures and user-friendly mobile and desktop applications make it a solid choice for both new and experienced traders seeking a reliable trading environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.