Comparison of Bitflyer vs Luno [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Luno

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,10%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with strong local support in emerging markets.

Level

0,10%

≤0,10%

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.

Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.

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.

Luno

Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Luno Pte Ltd.

Regulation

Regulated in Japón

Regulated in Singapur y Sudáfrica

Year founded

2014

2013

Founder

Yuzo Kano

Marcus Swanepoel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Luno
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
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	The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

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

Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Key points

Available cryptocurrencies

10+

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.

Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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 platform, making it a good choice for beginners and emerging market users.

Countries of operation

Japan, United States, Europe

South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

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

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

JPY, USD, EUR, BTC

ZAR, NGN, MYR, IDR, EUR, 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.

Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks 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 .

Luno is user-friendly, 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.

Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically 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.

Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.

Security

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

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial 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 an expert on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.

Read bitflyer review

View all comparisons against Bitflyer

Read luno review

View all comparisons against Luno

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.