Comparison of Bitflyer vs Unocoin [ 2024 ]

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

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Unocoin

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≈ 0,20%/0,70%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.9 – Reasonable fees with strong local support in India.

Level

0,10%

≈ 0,20%/0,70%

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.

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

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

Unocoin

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.
Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users' investments.
Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.
Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.
Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Unocoin Technologies Private Limited

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2013

Founder

Yuzo Kano

Sathvik Vishwanath, Harish B V, Abhinand Kaseti, Sunny Ray

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Unocoin
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.
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	Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Provides a decent level of customer service with support available through multiple channels, though response times can vary.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Staking, recurring buys, Unocoin Earn, bill payments

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.

Unocoin provides 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.

Provides decent value for money with competitive fees and strong local support in India, making it a good choice for regional users.

Countries of operation

Japan, United States, Europe

India

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 Indian investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

JPY, USD, EUR, BTC

INR, 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.

Unocoin is a popular exchange in India, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees compared to some other 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 .

Unocoin is popular in India, 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.

Unocoin provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient 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.

Unocoin provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in India.

Security

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

Unocoin provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could 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 analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto 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.