Comparison of Bitflyer vs Bitbuy [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitbuy

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0.20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

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 – Reasonable fees but slightly higher for fiat transactions.

Level

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.

Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.

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

Bitbuy

Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

First Ledger Corporation

Regulation

Regulated in Japón

Regulated by FINTRAC en Canadá

Year founded

2014

2016

Founder

Yuzo Kano

Adam Goldman

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Bitbuy
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	The minimum trade amount is reasonably low, making it accessible for beginners.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Fees are relatively high compared to competitors, which could deter frequent traders.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Limited to major cryptocurrencies, lacking diversity in trading pairs.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The website provides clear, easily accessible information on fees, policies, and trading options.
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	Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Provides secure cold storage options, ensuring safety for digital assets.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Offers some staking options and rewards, though not as extensive as some other platforms.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Excellent customer service with quick response times and helpful support staff.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though some limitations apply to methods and currencies.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

OTC trading, express trade option, institutional services, cold storage solutions

Anonymity

Key points

Available cryptocurrencies

10+

15+

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.

Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.

Value for money

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

Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.

Countries of operation

Japan, United States, Europe

Canada

Best for

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

Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.

Base currencies available

JPY, USD, EUR, BTC

CAD, BTC

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.

Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.

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 .

Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.

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.

Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.

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.

Bitbuy offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a drawback 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.

Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.

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 highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.

View all comparisons against Bitflyer

View all comparisons against Bitbuy

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.