Comparison of Bitflyer vs Coinex [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Investing risks losing your money

Your expert: Xavier Tarrasó

Coinex

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,20%

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.

4.0 – Competitive fees with additional benefits for token holders.

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.

CoinEx employs a straightforward and transparent fee structure that appeals to a broad range of traders. The platform charges a flat trading fee of 0.2% per transaction, which is competitive within the industry. This rate applies uniformly to both makers and takers, simplifying the trading process and making it easier for users to understand their potential costs. Additionally, CoinEx offers tiered discounts based on the trading volume and CET holdings, allowing active traders to significantly reduce their fees. This approach not only incentivizes more trading activity but also enhances loyalty to the platform. Overall, the fee policy at CoinEx is designed to support both casual and serious traders 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.

Read bitflyer review

Coinex

Security Methods: CoinEx uses an advanced multi-tier, multi-cluster system architecture and a strong set of security protocols to protect users' data and assets.
Customer Service: CoinEx provides 24/7 customer support and has a comprehensive FAQ and support system, helping users resolve their issues quickly and efficiently.
Reputation and Reviews: CoinEx has maintained a positive reputation within the crypto community, often praised for its user-friendly interface and robust security measures.
Transparency: CoinEx is known for being upfront about its trading fees, wallet maintenance, and system upgrades, contributing to a transparent trading environment for its users.
Volume Managed and Trading Volume: CoinEx supports a significant trading volume and liquidity, making it a reliable choice for executing large trades without a major impact on the market price.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

ViaBTC Technology Limited

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2017

Founder

Yuzo Kano

Haipo Yang

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Coinex
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	CoinEx allows for relatively low minimum trade amounts, making it accessible for beginners.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Fees are competitive but not the lowest in the market, impacting frequent traders.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Offers a wide selection of over 500 cryptocurrencies, providing vast trading opportunities.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Extensive range of trading pairs, allowing for versatile trading strategies.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The website provides clear information on fees and policies but could improve on educational content.
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	CoinEx does not currently offer a branded card for customers to use for in-store purchases or benefits.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Offers secure storage options, including cold storage, though details can be more transparent.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Provides staking options with competitive rewards, though not as high as some specialized platforms.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their usability and feature set.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Responsive but sometimes slow, especially during high demand periods.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Efficient processes with multiple crypto options, though limited fiat options impact the score.

Key features

Analysis tools

Basic to intermediate charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Margin trading, futures trading, staking, CoinEx token (CET) rewards

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.

CoinEx offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 a diverse range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

Japan, United States, Europe

United States, United Kingdom, Canada, 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 traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

JPY, USD, EUR, BTC

USD, BTC, USDT

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.

CoinEx provides a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but has moderate liquidity compared to larger exchanges.

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 .

CoinEx supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, 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.

CoinEx offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually 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.

CoinEx offers customer support via email and live chat. The support team is responsive and helpful, 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.

CoinEx offers robust security features, including 2FA and cold storage. However, it is not regulated by 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 observing the cryptocurrency exchange landscape, I find CoinEx to be a commendable platform for both novice and experienced traders. Its expansive selection of cryptocurrencies caters well to those looking to diversify their portfolios beyond the mainstream offerings. The user interface, designed with clarity in mind, ensures that even those new to crypto trading can navigate and execute trades with ease. However, it’s important for users to be aware of the customer support response times, which, while reliable, can experience delays during peak times. This understanding should prepare traders to manage their trading activities effectively, keeping in mind the support dynamics. Overall, CoinEx’s robust security measures and competitive fee structure make it a worthy contender in the crowded market of cryptocurrency exchanges.

View all comparisons against Bitflyer

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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.