Comparison of Bitflyer vs Probit [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Probit

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 – 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.

ProBit Global’s fee structure is designed to be competitive and accessible for traders of all levels. The platform employs a flat trading fee model of 0.20%, which is slightly lower than the global industry average. This uniform fee applies to both makers and takers, simplifying the trading process and making it transparent for users. Additionally, significant discounts are available for those who choose to pay their trading fees with the PROB token, ProBit Global’s native cryptocurrency. This feature not only encourages the use of PROB within the platform but also offers an economical advantage to frequent traders, enhancing their overall trading experience.

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.

Probit

Security Measures: ProBit Global employs robust security protocols including cold storage for digital assets, two-factor authentication, and encryption, ensuring the safety and integrity of user data and funds.
High Trading Volume and Liquidity: ProBit is capable of handling up to 1.5 million transactions per second, demonstrating significant liquidity which is essential for executing trades efficiently and at competitive prices.
Reputation and Reviews: Since its launch, ProBit Global has built a strong reputation within the crypto community, supported by positive user feedback and a track record of reliability and user satisfaction.
Transparency: ProBit Global provides clear information on its fee structure, trading processes, and the use of its native token, PROB, which is used to gain discounts on trading fees, contributing to an open and transparent trading environment.
Customer Service: ProBit offers comprehensive customer support with a detailed FAQ section, quick response times, and support for various languages, enhancing user experience and trust.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

ProBit Global Services Limited

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2018

Founder

Yuzo Kano

Hyunsu Do

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Probit
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	ProBit supports low minimum trade amounts, making it accessible for beginners to start trading without requiring significant initial investments.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	ProBit Global offers competitive trading fees that are below the industry average, enhanced by discounts for using the PROB token.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	With over 500 cryptocurrencies available, ProBit Global provides one of the most extensive selections, catering to traders looking for variety and niche coins.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	The platform supports over 300 trading pairs, offering significant flexibility for trading strategies across a broad range of cryptocurrencies.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	ProBit is generally transparent about its fees and operations, though some users may seek more detailed information on certain operational aspects.
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	ProBit does not offer an exchange card for in-store purchases.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	ProBit provides secure storage options, including cold storage, although it doesn’t offer as diverse an array of wallet services as some larger platforms.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	The platform offers staking options and various rewards through the use of its PROB token, giving users additional ways to earn from their holdings.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	ProBit offers a functional mobile app and a user-friendly desktop platform, though some users might find the features somewhat basic compared to more advanced trading platforms.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Customer service is available and generally responsive, but feedback indicates that there is room for improvement in terms of speed and the breadth of support options.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Deposits and withdrawals are supported efficiently on ProBit, but the options for fiat transactions are limited, and the structure for withdrawal fees can be complex.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

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

Margin trading, staking, Probit Earn, Probit token (PROB) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

10+

500+

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.

Probit 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.

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Japan, United States, Europe

South Korea, United States, Canada, United Kingdom, Australia

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

KRW, USD, 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.

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

ProBit offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, 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.

ProBit provides an easy and fast account opening process. Users need to provide 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.

ProBit provides support through email and live chat. The support team is responsive and available 24/7, making it convenient 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.

ProBit offers comprehensive 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 one of the experts here at our website, I highly recommend ProBit Global for its impressive array of over 500 cryptocurrencies and more than 300 trading pairs. This diversity makes it an excellent platform for both new and seasoned traders looking to explore various investment opportunities. Moreover, its competitive trading fees, especially when using the PROB token, make it an economically smart choice. Whether you’re beginning your crypto journey or seeking new trading strategies, ProBit Global’s user-friendly and efficient platform stands out as a strong candidate in the crowded field of crypto exchanges.

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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.