Comparison of Binance Us vs Bitflyer [ 2024 ]

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

Your expert: Alejandro Borja

Binance Us

Your expert: Xavier Tarrasó

Bitflyer

Main points

Fees

0,00%/0,40%

Earns

Yes

Customer service

4/5

0,10%

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

4.7 – Low fees comparable to its global counterpart.

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

Level

0,00%/0,40%

0,10%

Brief explanation

Binance US is known for its competitive and low fee structure, which is one of its most attractive features. The exchange operates on a tiered fee system where trading fees are reduced based on trading volume and Binance Coin (BNB) balance, making it particularly appealing for high-volume traders. Typically, trading fees start low and can decrease further with higher trade volumes and the use of BNB for transaction fees. This fee structure not only encourages active trading but also enhances profitability by keeping transaction costs minimal. Deposit fees are generally non-existent, but withdrawals incur a small fee that varies depending on the cryptocurrency being withdrawn. For traders using credit or debit cards, higher transaction fees may apply, making it important to consider the most cost-effective payment method when trading.

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.

Binance Us

Security Methods: Binance US employs robust security protocols, including advanced encryption, multi-signature technology, and two-factor authentication (2FA). These measures ensure the safety of users' funds and personal information.
Customer Service: Binance US offers responsive and accessible customer support through various channels, including live chat and email. This ensures that users can quickly resolve any issues or get assistance when needed.
Reputation and Reviews: Binance US is well-regarded in the crypto community, with generally positive reviews from users and industry experts. The exchange's reputation for reliability and user satisfaction further enhances trust.
Volume Managed: Binance US manages a significant trading volume, indicating a high level of liquidity. This means that users can execute large transactions with minimal impact on the market price, ensuring efficient trading.
Regulation: Binance US operates under strict regulatory compliance, adhering to US financial regulations. This ensures transparency and accountability, providing users with confidence in the platform's integrity.

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.

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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

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

BAM Trading Services Inc.

bitFlyer, Inc.

Regulation

Regulated in the EE. UU.

Regulated in Japón

Year founded

2019

2014

Founder

Operated by BAM Trading Services (non-specific founder)

Yuzo Kano

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance Us	FEATURES	Bitflyer
Allows small minimum trades, accessible for beginners.	Minimum Trade	BitFlyer allows relatively low minimum trades, making it accessible for beginners.
Competitive low fees, beneficial for high-volume traders.	Trading and Transaction Fees	Fees are slightly higher than average, which may deter frequent traders.
Offers a wide selection, though less than its global counterpart.	Number of Cryptocurrencies	Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.
Extensive range of trading pairs, providing good market flexibility.	Crypto-to-Crypto Trading Pairs	Supports a solid range of trading pairs, suitable for most traders’ needs.
Generally clear info, but some users desire more detailed disclosures.	Website Transparency	High transparency regarding security practices and compliance, fostering user trust.
Binance US does not offer an exchange card for in-store purchases and benefits.	Credit/Debit Card	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.
Offers secure storage solutions, including cold storage options.	Storage Offering	Provides secure cold storage options, ensuring safety for user funds.
Provides staking options with competitive rewards.	Staking and Rewards	Offers basic staking features and rewards but not as extensive or competitive as other exchanges.
Highly functional and user-friendly on both platforms.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly, well-designed, and reliable.
Reports of slow response times can be a significant drawback.	Customer Service	Generally responsive and helpful customer service, though some users may experience delays.
Efficient processes, though some reports of delays with fiat withdrawals.	Deposit and Withdraw	Efficient deposit and withdrawal processes, but could be improved with more payment methods.

Key features

Analysis tools

Similar to Binance with advanced charting and indicators

Basic to intermediate charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Staking, recurring buys, OTC trading, educational resources

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

Anonymity

Key points

Available cryptocurrencies

100+

10+

User-friendliness

Binance US provides a user-friendly platform similar to its global counterpart, tailored to the US market. The interface is clean and intuitive, making it easy for new traders to get started with cryptocurrency trading.

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.

Value for money

Provides great value for money with low trading fees and a wide selection of cryptocurrencies tailored for the US market.

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

Countries of operation

United States

Japan, United States, Europe

Best for

Best for US-based traders looking for a reliable and user-friendly platform with low fees and a wide selection of cryptocurrencies.

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

Base currencies available

USD, BTC, USDT

JPY, USD, EUR, BTC

Account

Trading

Binance US offers a streamlined version of Binance for American users, providing a good selection of cryptocurrencies and competitive fees. It maintains high security standards, though the variety of coins is less extensive than the global platform.

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.

Deposit and withdrawal

Binance US offers similar deposit and withdrawal methods to its global counterpart, including bank transfers and credit/debit cards. Withdrawals are typically processed within a day, with competitive fees.

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 .

Account opening process

Binance US has a similar account opening process to its global counterpart. Users need to provide personal details, verify their identity, and the process is usually completed within a day. It’s user-friendly and secure.

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.

KYC required?

Yes

Customer Service

Binance US offers support through email and live chat, similar to its global counterpart. The support team is responsive, and assistance is available 24/7, ensuring users get timely help.

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.

Security

Binance US provides strong security with 2FA, encryption, and cold storage. It is regulated by the U.S. financial authorities, ensuring high security for investors .

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

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Binance US for its strong security measures and high liquidity, which make it a reliable choice for both new and experienced traders. The platform’s user-friendly interface and responsive customer support enhance the overall trading experience, although the absence of an exchange card is a minor drawback. Overall, Binance US stands out for its robust performance in the US market.

Xavier Tarrasó

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.

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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.