Comparison of Bitflyer vs Coinw [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Coinw

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0.20%

Fees

Yes

Earns

3/5

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.

4.0 – Reasonable fees with additional benefits for high-volume trading.

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.

CoinW maintains a competitive and transparent fee structure tailored to benefit both casual and active traders. The exchange charges a base rate of 0.2% for both makers and takers, which can decrease significantly with increased trading volume thanks to their tiered fee system. This system not only incentivizes frequent trading but also rewards high-volume traders with even lower rates, making it an attractive option for those looking to execute large transactions. Additionally, CoinW does not charge different fees between takers and makers, simplifying the cost calculations for traders and providing a clear, straightforward trading cost framework.

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.

Coinw

Security Methods: CoinW implements advanced security protocols including bank-level risk control systems and real-time reconciliation processes. This ensures that users' assets are protected against unauthorized access and potential cyber threats.
Regulation Compliance: CoinW operates with a compliance-first approach, adhering to international financial regulations. This commitment to regulatory standards enhances its trustworthiness and ensures a secure trading environment for its users.
Trading Volume and Liquidity: CoinW manages a significant trading volume, providing high liquidity which is essential for executing trades quickly and at desired prices. This high liquidity also reflects the trust and activity level of its large user base.
Customer Service: Despite some limitations in direct support channels like phone service, CoinW provides 24/7 customer support through its online channels, ensuring that user queries and issues are addressed promptly and effectively.
Reputation and Reviews: CoinW has earned positive acclaim within the industry, being recognized as the best rising star by Crypto Expo and the best exchange in Asia by Crypto 306. These accolades underscore its credibility and reliability in the competitive crypto exchange market.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Unknown

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	Coinw
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	CoinW offers low minimum trade thresholds, making it accessible for beginners and those with smaller budgets to engage in trading.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	CoinW maintains competitive trading fees, starting at 0.2% for both makers and takers, which decrease with higher trading volumes.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	With over 1,000 cryptocurrencies available, CoinW provides a vast array of trading options, catering to diverse investor interests.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	The platform supports numerous crypto-to-crypto trading pairs, offering significant flexibility and opportunities for arbitrage.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	CoinW provides clear information on its fees and policies, although improvements can be made in disclosing full details on security practices and fund storage.
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	CoinW lacks an exchange card for in-store purchases.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	CoinW uses cold storage for the majority of its funds, enhancing security but details on the extent and management of these storages could be more transparent.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	The exchange offers staking and rewards programs, but more detailed information and wider variety of options could improve user engagement.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both the mobile app and desktop platform of CoinW are user-friendly and reliable, though occasional updates and feature enhancements would provide a smoother experience.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	While available 24/7 via chat, the lack of phone support and sometimes delayed responses are areas needing improvement.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	CoinW offers multiple deposit and withdrawal methods, but the addition of fiat currency options could significantly enhance user convenience.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, CoinW Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

10+

100+

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.

CoinW features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

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 decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Japan, United States, Europe

United States, Canada, United Kingdom, Australia, Singapore

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 beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

JPY, USD, EUR, BTC

CNY, 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.

CoinW provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.

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 .

CoinW supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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.

CoinW offers an easy and quick account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes 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.

CoinW offers customer support through email and live chat. The support team is responsive, but the lack of 24/7 support may be a limitation 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.

CoinW employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some 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 closely following the cryptocurrency exchange landscape, I’d like to share my insights on CoinW. This platform stands out primarily for its extensive selection of cryptocurrencies, accommodating over 1,000 different types, which makes it an attractive choice for traders looking to explore a variety of crypto assets. CoinW’s security measures are stringent, providing users with peace of mind when trading. Furthermore, their customer service is accessible 24/7 through chat, ensuring that assistance is always just a message away, although expanding support options could enhance user experience. In summary, if you’re seeking a platform with a wide array of trading options and solid security, CoinW is certainly worth considering.

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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.