bitFlyer Crypto Exchange Review: Best for Beginners, Limited for Traders

Is bitFlyer the right crypto exchange for you?

If you're new to cryptocurrency and want a platform that feels safe and simple, bitFlyer might seem like a perfect fit. It’s been around since 2014, claims zero hacks in over seven years, and stores every dollar’s worth of customer crypto in cold storage. But if you’re looking to trade more than Bitcoin and Ethereum, or you need fast customer support when things go wrong, you’ll quickly hit walls.

bitFlyer isn’t trying to be Coinbase or Binance. It doesn’t offer hundreds of coins. It doesn’t have a flashy NFT marketplace. It doesn’t even let most users trade on margin. What it does offer is a clean, regulated interface backed by licenses in the U.S., EU, and Japan - a rare combo. For someone who just wants to buy their first Bitcoin without worrying about getting hacked, that’s powerful. But for anyone serious about trading, it’s a starting point, not a destination.

Security: The One Thing bitFlyer Does Perfectly

bitFlyer’s biggest strength isn’t its features - it’s its reputation for staying secure. Since 2018, there hasn’t been a single successful hack on the platform. That’s not luck. It’s discipline. The exchange keeps 100% of customer funds in offline cold storage. Accounts use multi-signature wallets, automatic timeouts, login confirmations, and segregated hot wallets for minimal operational needs. These aren’t buzzwords - they’re industry-standard security layers that most exchanges claim but few execute this cleanly.

For beginners, this matters. You don’t need to understand DeFi or staking to feel safe holding crypto on bitFlyer. The platform’s 7-year clean record is cited by nearly every user review as the main reason they chose it. Even if the interface feels basic, you’re not trading on a gamble. You’re trading on a vault.

Cryptocurrencies Available: Fewer Than You Think

As of November 2025, bitFlyer supports only 11 cryptocurrencies. That’s it. Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Chainlink, Solana, Polygon, Cardano, Stellar, and Tezos. That’s less than Robinhood and a fraction of what Coinbase offers (over 250 coins) or Crypto.com (350+).

Want to trade Shiba Inu? You can’t. Solana? Yes. Polkadot? No. Avalanche? Not here. This limited selection isn’t a bug - it’s by design. bitFlyer focuses on the most liquid, regulated assets. But if you’re someone who likes to hop between new altcoins, this platform will feel frustratingly small. Many users end up buying Bitcoin or Ethereum on bitFlyer, then transferring the funds to Binance or Kraken to trade the rest. It’s not ideal, but it’s common.

Fees: Competitive, But Not Always Transparent

bitFlyer’s fee structure is tiered based on your 30-day trading volume. For most casual users, you’ll pay between 0.03% and 0.1% per trade. That’s competitive - especially compared to Robinhood’s hidden spreads or eToro’s fixed fees. The maker/taker model rewards liquidity providers, which is standard for professional exchanges.

But here’s the catch: fees can shift with market conditions. On low-liquidity pairs like ETH/BTC, users report slippage of up to 6% when using the simple buy/sell interface. That’s not a fee - it’s a price gap caused by thin order books. To avoid this, you need to use the Lightning Exchange platform, which offers deeper liquidity and better pricing. But even then, the platform doesn’t show real-time fee estimates before you confirm a trade. You find out after the fact.

Deposits via ACH are free, but capped at $5,000 per week. Withdrawals are also free. No surprise fees. No hidden charges. Just clear, predictable costs - if you stick to the major coins.

Trading Tools: Simple for New Users, Complex for Pros

bitFlyer has two trading interfaces: the basic app/web platform and Lightning Exchange. The basic one is designed for beginners. You pick a coin, enter an amount, hit buy. Done. It even lets you set up recurring buys - perfect for dollar-cost averaging.

Lightning Exchange, however, is a different beast. Built by Wall Street veterans, it offers over 20 advanced order types, real-time charts, API access, and direct access to the world’s largest BTC/JPY market. If you’re a day trader or algorithmic trader, this is where bitFlyer shines. But it’s only available on desktop. The mobile app doesn’t support it.

And here’s the problem: most users don’t know about Lightning Exchange until they hit a wall. The platform doesn’t guide you toward it. If you’re using the simple interface to trade ETH/BTC, you’re getting poor prices and limited liquidity. You’re not being told why. That’s a design flaw.

Customer Support: The Weak Link

bitFlyer’s security is strong. Its fees are fair. But its support? It’s inconsistent - and sometimes nonexistent.

On G2, multiple verified users report orders failing without explanation, emails going unanswered, and chatbots that repeat the same script. One user said they couldn’t safely hold an open position because their sell order simply disappeared. Another said the ETH/BTC pair had such low liquidity that they had to buy BTC on bitFlyer, send it to Binance, and trade from there. That’s not a trading strategy - that’s a workaround for a broken system.

Business Insider and Koinly.io both call out limited customer support as a major con. Unlike Coinbase, which has 24/7 live chat, bitFlyer’s support hours are restricted. You’re often left waiting for days. If you’re trading large amounts or need help during volatile markets, this could be a dealbreaker.

Who Should Use bitFlyer?

bitFlyer isn’t for everyone. It’s not for crypto enthusiasts who want to trade 50 different tokens. It’s not for active traders who need fast support or deep altcoin markets.

But it’s perfect for:

• Beginners who want to buy their first Bitcoin or Ethereum without getting overwhelmed.
• Safety-first users who prioritize a clean, regulated platform with zero history of hacks.
• People in Japan, the U.S., or the EU who need a single exchange that’s legally licensed in all three regions.
• Dollar-cost average investors who want to automate weekly purchases.

If you fall into any of those groups, bitFlyer is a solid choice. It’s not flashy, but it’s trustworthy.

Who Should Avoid bitFlyer?

Stay away if you:

• Want to trade more than 11 cryptocurrencies.
• Need fast, responsive customer service.
• Want margin trading (only available to Japanese residents).
• Expect NFTs, staking, or DeFi integrations.
• Trade frequently and need tight spreads and deep liquidity across many pairs.

Many active traders use bitFlyer as a bridge - buy BTC here, send it to a bigger exchange, trade from there. That’s not a bad strategy, but it means you’re not really using bitFlyer as your main platform. You’re using it as a gateway.

Final Verdict: A Safe Harbor, Not a Full Port

bitFlyer is the crypto equivalent of a quiet, well-maintained bank. It doesn’t offer high-yield savings accounts or international wire transfers. But if you just want to store your money safely and make simple deposits, it’s one of the best options out there.

Its lack of coins, weak support, and hidden liquidity issues hold it back from being a top-tier exchange. But its security, regulatory compliance, and beginner-friendly design make it stand out in a sea of chaotic platforms.

If you’re just starting out and want to feel safe, go with bitFlyer. If you’re serious about trading, use it to buy your base coins - then move on.