Comparison of Bitflyer vs Hitbtc [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Hitbtc

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,10%/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 – Competitive fees with additional benefits for token holders.

Level

0,10%

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.

HitBTC Trading Fees Overview HitBTC uses a straightforward fee structure that follows a maker-taker model. The standard fee is 0.1% for makers and 0.25% for takers. However, the fee decreases with higher trading volumes, incentivizing frequent and high-volume trading. For instance, users with significant monthly trading volumes can benefit from fees as low as -0.01%, essentially earning rebates on their trades . The exchange also offers tiered fee discounts based on trading volume over the last 30 days. This means that the more you trade, the less you pay in fees, which can be advantageous for active traders. Additionally, HitBTC supports various withdrawal methods, each with its own associated fees, primarily network fees for the cryptocurrency being withdrawn . Summary of HitBTC’s Commissions HitBTC’s commission structure is designed to be competitive and transparent. Regular users face a 0.1% maker fee and a 0.25% taker fee, with opportunities for rebates and lower fees for high-volume traders. The tiered fee system encourages increased trading activity by offering progressively lower fees based on the user’s trading volume over the past 30 days. Withdrawal fees vary depending on the cryptocurrency and its network conditions, while there are no deposit fees for digital assets. Overall, HitBTC’s fee structure benefits frequent traders, though beginners and low-volume traders should be aware of the standard rates. The exchange’s commitment to transparent and competitive fees makes it a strong contender for those looking to minimize trading costs while maximizing trading opportunities.

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.

Hitbtc

1. Security Methods HitBTC employs robust security measures, including two-factor authentication, cold storage for the majority of funds, IP monitoring, and withdrawal whitelisting. These measures ensure that user funds are well-protected against potential breaches and hacks.
2. Volume Managed With high trading volumes across a wide array of cryptocurrencies, HitBTC provides substantial liquidity. This is beneficial for traders looking to execute large orders without significant price fluctuations, ensuring smoother trading experiences.
3. Transparency Although the corporate structure is somewhat opaque, HitBTC maintains transparency in its fee structure and trading processes. The platform provides detailed information on fees, trading pairs, and supported cryptocurrencies, which helps build trust with its users.
4. Trading Volume and Liquidity HitBTC consistently ranks among the top exchanges in terms of trading volume, offering deep liquidity across its extensive range of trading pairs. This high liquidity is crucial for executing trades quickly and at favorable prices.
5. Withdrawal and Deposit Policies HitBTC offers a straightforward withdrawal and deposit process with a variety of supported cryptocurrencies. While fiat withdrawals and deposits are limited, the platform’s clear policies and reasonable fees make it a reliable choice for crypto-to-crypto trading.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

HIT Solution Inc.

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2013

Founder

Yuzo Kano

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Hitbtc
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Giottus has a low minimum trade amount, making it accessible for users with varying investment sizes.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Competitive fee structure with no fees for makers and 0.20% for takers, lower than the industry average.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Supports a decent range of major cryptocurrencies and some altcoins, though not as extensive as some larger exchanges.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Offers various crypto-to-crypto trading pairs, sufficient for most traders but not exhaustive.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	Provides clear and transparent information on fees, services, and features, ensuring users are well-informed.
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	No exchange card available for in-store purchases or additional benefits, which is a significant drawback.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Secure storage solutions with most funds held in cold storage and insured custodial services through Bitgo.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Offers some staking options, but they are not as extensive or rewarding as those available on other platforms.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	The mobile app is highly rated for its user-friendly design and multilingual support, providing a seamless trading experience.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Responsive customer service available through live chat and email, but the lack of phone support is a minor limitation.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Supports multiple deposit methods including bank transfers and UPI, with quick processing times, but fiat transactions are limited to INR.

Key features

Analysis tools

Basic to intermediate charting tools

Advanced charting tools, technical indicators

Mobile APP

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, HitBTC API

Anonymity

Yes

Key points

Available cryptocurrencies

10+

800+

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.

HitBTC features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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

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.

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, EUR, 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.

HitBTC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but lower 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 .

HitBTC 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.

HitBTC provides a straightforward and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually takes 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.

HitBTC provides 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.

HitBTC 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 at Threenvest, I recommend HitBTC for traders who seek a diverse range of cryptocurrencies and advanced trading features. The platform’s robust security measures provide peace of mind, and its competitive fee structure is advantageous for high-volume traders. However, be mindful of the potential delays in customer support and the lack of corporate transparency. Overall, HitBTC is a solid choice for experienced traders looking to leverage a wide array of digital assets.

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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.