Comparison of Bitflyer vs Paribu [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Paribu

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,25%/0,35%

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.

3.8 – Competitive fees with strong local support in Turkey.

Level

0,10%

0,25%/0,35%

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.

Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.

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.

Paribu

Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.
Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.
Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.
Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.
Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.

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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

2017

Founder

Yuzo Kano

Yasin Oral

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Paribu
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
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	As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
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, offering good usability but lacking some advanced trading tools.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.

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

Staking, fiat on/off ramps, Paribu Earn, educational resources

Anonymity

Key points

Available cryptocurrencies

10+

50+

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.

Paribu features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with all necessary features easily accessible.

Value for money

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

Offers good value for money with competitive fees and strong local support in Turkey, making it a good choice for regional users.

Countries of operation

Japan, United States, Europe

Turkey

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 Turkish investors looking for a reliable platform with competitive fees and strong local support.

Base currencies available

JPY, USD, EUR, BTC

TRY, 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.

Paribu is a popular exchange in Turkey, offering a good selection of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading tools.

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 .

Paribu is popular in Turkey, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive 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.

Paribu provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

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.

Paribu provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Turkey.

Security

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

Paribu ensures security through 2FA, encryption, and cold storage. It is regulated by Turkish 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 a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting 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.