Comparison of Bitflyer vs Cryptology [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Cryptology

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

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 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.

Cryptology employs a transparent and competitive fee structure designed to cater to traders of all levels. The platform uses a progressive fee system where trading fees decrease with higher trading volumes over a 30-day period. For trading volumes under €50,000, both market makers and takers are charged a flat 0.20% fee. As trading volumes increase, fees can drop to as low as 0.016% for makers and 0.018% for takers for volumes exceeding €10,000,000. Deposit fees are generally non-existent, except for certain fiat deposits via debit or credit cards, which incur fees ranging from 1.7% to 2.65%. Withdrawal fees are asset-dependent, with Bitcoin withdrawals, for example, subject to a 0.0005 BTC fee .

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.

Cryptology

Security Methods: Cryptology employs industry-standard encryption protocols, cold storage solutions, and two-factor authentication (2FA) to ensure the safety of user funds and data .
Year Founded: Established in 2017, Cryptology has a proven track record in the cryptocurrency market, demonstrating stability and growth over the years .
Regulation: The exchange is registered in Estonia and regulated by the Estonian Financial Intelligence Unit (FIU), ensuring compliance with international financial regulations .
Customer Service: Cryptology offers 24/7 customer support through various channels, including email and live chat, enhancing user satisfaction and resolving issues promptly .
Reputation and Reviews: Cryptology has generally positive reviews from users, highlighting its reliability, user-friendly interface, and efficient trading environment .

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Cryptology Asset Group Pte Ltd

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2018

Founder

Yuzo Kano

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Cryptology
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Cryptology allows users to start trading with a minimal amount, 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. The fee structure benefits high-volume traders but could be more advantageous for smaller trades .
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	The exchange offers a wide selection of cryptocurrencies, providing ample choices for diverse trading strategies .
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Cryptology has numerous crypto-to-crypto pairs available, facilitating versatile trading opportunities and allowing traders to diversify their portfolios .
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The website is highly transparent, providing detailed information about fees, security measures, and company policies. This transparency helps build trust with users .
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	Cryptology does not provide an exchange card for in-store purchases.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Cryptology provides secure storage options, though it could improve by offering more detailed information on security protocols and insurance coverage for stored assets .
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	The exchange offers staking options, but the rewards programs are not as extensive as those of some competitors. Enhancing the rewards system could attract more users looking for passive income opportunities .
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	The platform is available on both mobile and desktop with robust features, though some users report minor usability issues on the mobile app. Continuous updates and improvements can enhance the user experience further.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Customer service is responsive but could benefit from 24/7 support availability. Providing more channels for support and ensuring round-the-clock service would greatly improve user satisfaction.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Cryptology offers various methods for deposits and withdrawals with reasonable processing times and fees. This flexibility makes it easier for users to manage their funds efficiently.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

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

Margin trading, futures trading, staking, Cryptology Earn program

Anonymity

Yes

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.

Cryptology offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to provide 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.

Provides decent value for money with competitive fees and a user-friendly interface, though it may not have the lowest fees compared to some competitors.

Countries of operation

Japan, United States, Europe

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

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

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

JPY, USD, EUR, BTC

EUR, USD, RUB, 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.

Cryptology offers a good selection of cryptocurrencies and competitive fees. It has a user-friendly platform 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 .

Cryptology supports various deposit 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.

Cryptology provides an easy and fast account registration process. Users need to submit 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.

Cryptology provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback 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.

Cryptology employs standard 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 in cryptocurrency exchanges, I find Cryptology to be a secure and reliable platform, especially suitable for traders who prioritize security and transparent fee structures. The exchange offers competitive trading fees that decrease with higher trading volumes, which benefits active traders. Additionally, Cryptology’s commitment to security through industry-standard encryption, cold storage solutions, and two-factor authentication (2FA) provides peace of mind for users concerned about the safety of their funds. While the platform excels in these areas, it does have some limitations. The selection of altcoins is relatively limited compared to other exchanges, which might not appeal to traders looking for a broader range of digital assets. Furthermore, there have been reports of customer support issues, indicating a need for improvement in responsiveness and service quality. Overall, Cryptology is a strong choice for traders focusing on major cryptocurrencies and seeking a secure trading environment. Enhancing altcoin variety and improving customer support would further solidify its standing in the competitive cryptocurrency exchange market.

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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.