If you have lived in Japan for a while, you have probably seen the bitFlyer name. It was among the first companies registered when Japan started licensing crypto exchanges in 2017, and the same year it started taking Bitcoin payments at Bic Camera stores. Its iPhone app has a 4.35 rating from more than 133,000 reviews on the Japanese App Store, which tells you how many ordinary people use it.
This review is written for English-speaking residents: people with a residence card, a Japanese bank account and a phone contract who want to know whether bitFlyer is worth opening, what it costs in practice, and what the catches are. bitFlyer’s website blocked our research tools, so the fee figures below come from an archived copy of its official fee page. We say “according to the official fee page” where that applies; check the live page before you deposit.
bitFlyer at a glance
The facts below are cross-checked against Japan’s Financial Services Agency (FSA) register of crypto-asset exchange service providers and bitFlyer’s official app listing.
- Company
- bitFlyer, Inc. (parent: bitFlyer Holdings), founded in 2014
- Licence
- Crypto-asset exchange service provider, Kanto Local Finance Bureau No. 00003 (registered 29 Sep 2017); also a registered financial instruments business (No. 3294)
- Head office
- Tokyo Midtown, 9-7-1 Akasaka, Minato-ku, Tokyo
- Coins
- 44 (app listing; matches the FSA register)
- Ways to trade
- Dealer desk, order book (bitFlyer Lightning), crypto CFDs up to 2x
- Order-book fee
- 0.01–0.15% by 30-day volume, same for maker and taker
- Dealer desk
- No fee; spread applies (not published)
- Minimum order
- BTC from ¥1 on the dealer desk; 0.001 BTC on Lightning BTC/JPY
- Yen deposits
- Bank transfer (you pay your bank’s fee); quick deposit free from SBI Sumishin Net Bank (now Docomo SMTB Net Bank), ¥330 from other banks
- Yen withdrawals
- ¥220 / ¥440 to SMBC; ¥550 / ¥770 to other banks (under / over ¥30,000)
- BTC withdrawal
- 0.0004 BTC
- Extras
- Recurring buys, crypto lending, staking, V Point to BTC, bitFlyer credit card
- App rating
- 4.35 on the Japanese App Store (about 133,000 ratings)
What works
- Buy Bitcoin from ¥1 on the dealer desk
- Order-book fee drops from 0.15% to 0.01% as your 30-day volume grows
- Free quick deposits from SBI Sumishin Net Bank (Docomo SMTB Net Bank)
- Converts V Points into Bitcoin; the bitFlyer credit card pays rewards in BTC
- Residence card accepted as ID for foreign residents
- iOS app lists English as a supported language
Watch out for
- Dealer-desk spread is not published
- No maker rebate: makers pay the same 0.01–0.15% as takers
- Lightning BTC/JPY minimum is 0.001 BTC, so small orders go through the dealer desk
- Quick deposits from most banks cost ¥330 and lock the funds from leaving for 7 days
- Yen withdrawals cost ¥550–¥770 unless you bank with SMBC
- Sending Bitcoin out costs 0.0004 BTC per withdrawal
Can foreigners open a bitFlyer account?
Yes, as long as you live in Japan. bitFlyer’s official identity-document page lists the residence card (在留カード, zairyu card) as accepted ID for foreign nationals living in Japan, alongside the My Number card, a driving licence and a Japanese passport. The address, name and date of birth you type in must match the card exactly, so copy them character for character, including the order of your names.
You will also need a Japanese mobile number, an email address and a bank account in your own name. Deposits from someone else’s account are refused, and the name your bank sends with a transfer (usually in katakana) has to match the name on your exchange account. If your bank registered your name in a different order or spelling, sort that out before your first deposit. Since January 2026 every new account at a Japanese exchange also comes with a tax-residence self-certificationA short declaration of which countries you are tax-resident in, with any foreign tax ID. Required under the OECD crypto reporting rules (CARF) since 2026., where you state your countries of tax residence and any foreign taxpayer number. Have your home-country tax ID ready if you have one.
On language: bitFlyer runs an English version of its Japanese site (the en-jp pages), with an English FAQ and company profile, and its iOS app lists English among its languages. We could not confirm that every screen, contract document and support channel is in English, so assume some steps will be in Japanese and keep a translation app handy. Our guide to crypto for foreigners in Japan covers visa types, My Number and what tourists can and can’t do.
Tourists can’t sign up
Domestic exchanges, bitFlyer included, only serve people with a Japanese address. If you are visiting on a short-stay visa, you won’t pass identity verification. International platforms such as CEX.IO accept foreign Visa and Mastercard cards and Apple Pay, but CEX.IO is not registered with Japan’s FSA, does not support yen and does not serve Japan residents, so it is only an option for non-residents.
bitFlyer fees: a ¥100,000 round trip, worked out
bitFlyer has two places to buy. The dealer deskDealer desk (販売所, hanbaijo): the exchange sells to you at its own quoted price. Easy, but the gap between buy and sell prices is your real cost. is the simple screen in the app where you type an amount and tap buy. The order bookOrder book (取引所 / 板, ita): users post buy and sell orders and trade with each other. Fees are low, but you choose limit or market orders yourself., branded bitFlyer Lightning, is where users trade with each other. Which one you use matters more than anything else on this page.
| Item | Fee (official fee page) | Notes |
|---|---|---|
| Order book (Lightning spot) | 0.01–0.15% | 0.15% if your 30-day volume is under ¥100,000; 0.01% at ¥5bn+. Same for maker and taker |
| Dealer desk | Free | Spread built into the price; size not published |
| Quick deposit | Free from SBI Sumishin Net Bank; ¥330 from others | Funds can’t be sent out as crypto for 7 days |
| Bank transfer deposit | Free (your bank’s fee applies) | Must come from an account in your name |
| Yen withdrawal | SMBC: ¥220 / ¥440 Other banks: ¥550 / ¥770 | Under / over ¥30,000 |
| Bitcoin withdrawal | 0.0004 BTC | About ¥4,800 if 1 BTC = ¥12 million |
On the order book
With no trading history, you pay 0.15%. Buying ¥100,000 of Bitcoin costs about ¥150 (taken in BTC), and selling it back costs about another ¥150. Add a ¥330 quick deposit from a typical bank and a ¥770 withdrawal to the same bank, and the full round trip is roughly ¥1,400, or 1.4%. If you can deposit from SBI Sumishin Net Bank and withdraw to SMBC, the same trip drops to about ¥740.
On the dealer desk
The dealer desk shows “no fee”, but the spreadThe difference between the buy and sell price quoted at the same moment. On a dealer desk this gap is the real trading cost. does the work. bitFlyer doesn’t publish it, so we can’t give you a number. As an illustration only: if the spread were 2% each way, buying and immediately selling ¥100,000 would cost about ¥4,000. You can measure it yourself by comparing the buy and sell prices on screen at the same moment.
Where the cheap route starts
Lightning’s 0.001 BTC minimum is about ¥12,000 at ¥12 million per coin. Below that you have to use the dealer desk. A simple rule: small test buys on the dealer desk, anything above roughly ¥12,000 as a limit order on the order book.
To compare this against every other major Japanese exchange, use the fee comparison calculator. The short version: bitFlyer is not the cheapest, but picking the right bank on each end keeps a round trip under 1%.
Deposits and withdrawals: which bank to use
You fund your account in yen, either by a normal bank transfer to bitFlyer’s account or by quick deposit (クイック入金), which pulls money through your online banking and lands almost immediately. Bank transfers cost nothing on bitFlyer’s side; you only pay your own bank’s transfer fee, which many net banks waive a few times a month. Quick deposits are free only from SBI Sumishin Net Bank (since renamed Docomo SMTB Net Bank) and ¥330 from other banks, according to the official fee page.
The catch with quick deposits is the seven-day hold: money that arrives that way can’t leave bitFlyer as crypto for a week. If you plan to buy and move coins to your own wallet straight away, use a regular transfer instead. The deposit screen also shows a convenience-store option, but we could not confirm its fee.
Withdrawals are cheapest to SMBC (¥220 under ¥30,000, ¥440 above). Every other bank costs ¥550 or ¥770. If you already have an SMBC account, make it your payout account. There is no PayPay or card withdrawal. For a side-by-side of every funding route in Japan, see ways to pay for crypto, and for selling and getting yen out, see how to cash out to yen.
Sending Bitcoin out costs 0.0004 BTC each time, so batch your withdrawals. Japan’s Travel RuleRules that make exchanges pass sender and recipient names with every crypto transfer. In force in Japan since June 2023. also means bitFlyer will ask who owns the receiving wallet or exchange account, and some destinations may not be supported. Our wallet guide explains how that works in practice.
Coins, recurring buys and the extras
bitFlyer lists 44 coins, from Bitcoin, Ether and XRP to Monacoin (MONA), one of Japan’s home-grown coins. Most of them can only be bought on the dealer desk; according to the 2025 version of the official fee page, Lightning spot covered BTC/JPY, ETH/JPY, XRP/JPY, XLM/JPY and MONA/JPY plus a couple of BTC pairs. If you want to trade a long list of altcoins on an order book, bitbank is the better fit.
Where bitFlyer stands out is earning Bitcoin without spending yen. You can convert V Points into BTC, and the Aplus-issued bitFlyer credit card pays rewards in Bitcoin. Comparison sites put the reward at about 0.5% on the standard card and 1.0% on the Platinum card, but the terms were revised in 2026, so check the issuer’s page. We compare it with the Binance Japan, bitbank and SBI cards in our crypto cards guide.
Recurring buys (かんたん積立) run daily, weekly or monthly at dealer-desk prices. You can also lend coins to bitFlyer for a fixed term or earn stakingRewards for helping run a proof-of-stake blockchain. The exchange stakes for you and passes on part of the reward. rewards; lent coins generally can’t be sold or returned until the term ends. Leverage is offered as crypto CFDs, capped at 2x for individuals by Japanese rules. We could not verify any NFT service.
Is bitFlyer safe? Its track record
bitFlyer states that it has had no crypto losses from external unauthorised access since it was founded in 2014. It keeps most assets in cold walletsStorage where private keys never touch an internet-connected device, which cuts the risk of remote theft. and uses two-step verification on logins. After DMM Bitcoin lost about ¥48.2 billion in BTC in 2024, a clean record like that matters, though no exchange can promise it will last.
The record is not spotless on compliance. In June 2018 the FSA issued bitFlyer a business improvement order over weak identity checks and anti-money-laundering controls. bitFlyer stopped accepting new customers and only reopened sign-ups on 3 July 2019. Much of the paperwork you go through today traces back to that period.
- 2014bitFlyer founded in Tokyo
- Apr 2017Bitcoin payments at Bic Camera start at selected stores
- 29 Sep 2017Registered with the FSA as exchange No. 00003
- Jun 2018FSA business improvement order; new sign-ups paused
- 3 Jul 2019New accounts reopen
- Jul 2024FTX Japan acquired by bitFlyer Holdings and renamed Custodiem
- 10 Apr 2026Custodiem data notice follow-up on a possible customer-data leak from a cloud misconfiguration
That last item needs context. Custodiem is the former FTX Japan, bought by bitFlyer Holdings in 2024 after FTX collapsed. It now focuses on crypto custody and plans to move consenting customers’ accounts to bitFlyer. In April 2026 it posted a follow-up apology about a possible leak of its own customers’ data caused by a cloud configuration error. It concerned Custodiem customers, not bitFlyer accounts, but it is a group-level lapse worth knowing about. Japan’s amended Financial Instruments and Exchange Act, enacted in July 2026, will also require exchanges to build reserves for compensating customers after hacks; see Is crypto legal in Japan? for the bigger picture.
Moving away? What happens to your account
bitFlyer Japan is for Japan residents. The group runs separate companies in Europe and the US, and according to bitFlyer Europe’s FAQ, someone who holds a bitFlyer Japan account and then lives in the EU, EEA or Switzerland must close the Japan account before registering with bitFlyer Europe. In practice, plan your exit: sell what you want in yen while your Japanese bank account is still open, or move coins to a wallet you control, then close or update the account.
On tax, crypto is not on the list of assets covered by Japan’s exit tax, but gains you realise while resident are taxed as miscellaneous income at up to 55%. Download your annual transaction report before you lose access. Our guide to moving to or leaving Japan with crypto walks through residency status and closing accounts, and the Japan crypto tax guide covers how gains are calculated.
How to open an account, briefly
Register your email
Sign up in the app or on the website, set a password and turn on two-step verification straight away.
Enter your details and verify your ID
Fill in name, address, occupation and purpose, then complete smartphone eKYCElectronic know-your-customer: you photograph your ID and your face, or tap an IC-chip card, so the exchange can verify you online. with your residence card or My Number card.
Deposit yen
Send a bank transfer from your own account, or use quick deposit if you won’t be moving coins out within a week.
Buy
Use the dealer desk for small test amounts and Lightning limit orders once you go above about ¥12,000.
bitFlyer says sign-up can take as little as nine minutes, with trading possible the same day. For screen-by-screen help, including what to do if eKYC rejects your photo, read how to buy Bitcoin in Japan.
Alternatives worth comparing
If bitFlyer’s weak spots matter to you, these FSA-registered exchanges cover them. Plenty of residents keep two accounts: one for cheap deposits and withdrawals, one for the coins or features they want.
- Coincheck charges 0% on the order book for BTC and ETH and takes convenience-store deposits.
- bitbank puts all 44 of its coins on the order book, with a −0.02% maker fee on most pairs.
- SBI VC Trade charges nothing for yen withdrawals or crypto transfers.
- GMO Coin offers free instant deposits from Japan Post Bank and PayPay Bank, and free withdrawals from ¥10,000.
See every review side by side on the reviews hub, or check any company’s licence on our list of FSA-registered exchanges.
bitFlyer FAQ
Can foreigners use bitFlyer in Japan?
Yes, if you live in Japan. bitFlyer’s identity-document page lists the residence card (zairyu card) as accepted ID for foreign nationals resident in Japan. You also need a Japanese address and a bank account in your own name. Tourists on a short-stay visa cannot open an account.
Is bitFlyer available in English?
Partly. bitFlyer runs an English version of its Japanese website with an English FAQ and company profile, and its iOS app lists English as a supported language. We could not confirm that every sign-up and support step is in English, so expect some Japanese along the way.
What are bitFlyer’s fees?
According to bitFlyer’s official fee page, order-book trades cost 0.01–0.15% depending on your 30-day volume, with no maker rebate. The dealer desk charges no fee but builds a spread into the price, and bitFlyer does not publish its size. Yen withdrawals cost ¥550–¥770, or ¥220–¥440 to SMBC.
What is the minimum purchase on bitFlyer?
You can buy Bitcoin from ¥1 on the dealer desk. On the order book (bitFlyer Lightning) the BTC/JPY minimum is 0.001 BTC, which is about ¥12,000 if Bitcoin trades at ¥12 million.
Has bitFlyer ever been hacked?
bitFlyer says it has had no crypto losses from external unauthorised access since it was founded in 2014. It did receive a business improvement order from the FSA in June 2018 over identity checks and anti-money-laundering controls, and paused new sign-ups until July 2019.
What happens to my bitFlyer account if I leave Japan?
bitFlyer Japan is a domestic service for Japan residents. According to bitFlyer Europe’s FAQ, people who hold a bitFlyer Japan account and move to the EU, EEA or Switzerland must close it before registering with bitFlyer Europe. Sell or move your coins and update your address before you go.
Sources
- FSA: register of crypto-asset exchange service providers
- bitFlyer: fee schedule (Japanese)
- bitFlyer: accepted identity documents (Japanese)
- bitFlyer app on the Japanese App Store
- bitFlyer Europe FAQ: holders of Japan or US accounts
- Custodiem: official notices (Japanese)
- National Tax Agency: CARF self-certification leaflet
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