Comparison of Bitflyer vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitso

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,075%/0,098%

Fees

Yes

Earns

4/5

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.

3.9 – Competitive fees within Latin America.

Level

0,10%

0,075%/0,098%

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.

Bitso maintains a competitive edge in the crypto exchange landscape through its straightforward and relatively low fee structure. The platform employs a maker-taker fee model, which incentivizes market liquidity. Makers, who add liquidity by placing limit orders, enjoy lower fees compared to takers, who remove liquidity by executing against existing orders. Fees can vary depending on the user’s 30-day trading volume, promoting more frequent trading by offering decreasing fees for higher volumes. This tiered approach not only supports active traders but also ensures the platform remains accessible to newcomers, keeping initial costs lower than many other exchanges.

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

Bitso

Year Founded: Established in 2014, Bitso has a long-standing presence in the cryptocurrency market. This longevity is a testament to its resilience and adaptability in the rapidly evolving crypto environment.
Security Methods: Bitso employs robust security measures including two-factor authentication, cold storage of digital assets, and multi-signature wallets. These practices ensure a high level of security for user funds and transactions.
Possible Regulation: Bitso is regulated by the Gibraltar Financial Services Commission (GFSC), one of the few cryptocurrency exchanges in Latin America to be overseen by such a respected regulatory body. This regulation reinforces Bitso's commitment to compliance and security standards.
Trading Volume and Liquidity: Bitso provides substantial trading volume and liquidity, making it easier for users to execute trades efficiently and at desired prices. This is particularly beneficial in a market known for its volatility, where trading depth can significantly impact transaction costs and speed.
Customer Service: Bitso offers exceptional customer service with support available 24/7 through multiple channels, including live chat and a comprehensive help center. This dedication to customer support ensures that users' queries and issues are addressed promptly and effectively, enhancing the overall user experience.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Bitso SAPI de CV

Regulation

Regulated in Japón

Regulated in México

Year founded

2014

Founder

Yuzo Kano

Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Bitso
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	The minimum trade amount is low, enabling accessibility for traders of all sizes.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Bitso supports major cryptocurrencies but 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 moderate range of crypto-to-crypto trading pairs, adequate for most traders.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	Bitso provides clear and detailed information on its operations and security measures.
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	Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Secure storage with cold wallets and multi-signature technology to ensure safety.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Provides some options for staking and rewards but not as extensive as some competitors.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Excellent customer support with 24/7 access via multiple channels, including live chat.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though mainly tailored to Mexican users.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

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

Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Key points

Available cryptocurrencies

10+

30+

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.

Bitso provides a straightforward and user-friendly interface, ideal for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand for new users.

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 a strong presence in Latin America, making it a good choice for regional users.

Countries of operation

Japan, United States, Europe

Mexico, Argentina, Brazil

Best for

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

Suitable for Latin American investors, particularly those in Mexico, Argentina, and Brazil, looking for a reliable platform with competitive fees.

Base currencies available

JPY, USD, EUR, BTC

MXN, ARS, BRL, 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.

Bitso is the leading exchange in Latin America, offering a variety of cryptocurrencies and easy fiat integration. It is user-friendly but might not have the advanced tools needed by professional traders.

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 .

Bitso provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day. Fees are competitive, making it a good choice for Latin American users.

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.

Bitso’s account opening process is simple and fully digital. Users need to provide personal information and verify their identity. The process is quick, typically taking less than a day to complete.

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.

Bitso provides support through email and live chat. The support team is knowledgeable and responsive, 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.

Bitso ensures security through 2FA, encryption, and cold storage. It is regulated by Mexican authorities, providing a secure environment 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 reviewer on our website, I find Bitso to be a solid choice for traders, especially those based in Latin America. Its strong regulatory compliance, combined with a user-friendly interface and dedicated customer service, makes it a reliable platform. However, if you’re looking for a wider variety of cryptocurrencies or need more global payment options, you might want to explore other exchanges. Nonetheless, for those new to cryptocurrency or primarily trading in Mexican Pesos, Bitso offers an excellent starting point.

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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.