Complete Beginner’s Guide to Using bitFlyer

1. What is bitFlyer?

　bitFlyer is one of the largest cryptocurrency exchanges in Japan. It handles a variety of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). It is known for its high security and user-friendly platform.

2. Creating an Account and Opening a Wallet

　To use bitFlyer, you first need to create an account and open a wallet.

2.1 Creating an Account

1. Access the official bitFlyer website.
2. Enter your email address and click “Create Account”.
3. Click the link in the email you receive and set your password.
4. Enter your basic information (name, address, date of birth, etc.).
5. Upload your identification documents (driver’s license, My Number card, etc.).
6. After your identity is verified, you will receive a postcard with a code. Enter the code to complete the account verification.

2.2 Depositing JPY

1. After logging in, click the “Deposit/Withdraw” menu at the bottom of the screen and select the “JPY” tab.
2. You will see the bank account information for deposits. Transfer JPY to the specified account.
3. It may take a few minutes to a few hours for the deposit to reflect in your account.

3. How to Purchase Cryptocurrencies

　You can purchase cryptocurrencies on bitFlyer using two methods: the Exchange and the Market.

3.1 Purchasing at the Market

1. Log in and open the “Market” menu.
2. Select the cryptocurrency you want to buy.
3. Enter the purchase amount and click “Buy”.
4. Confirm the details on the confirmation screen and click “Place Buy Order”.
5. If the purchase completion screen appears, the transaction is complete.

3.2 Purchasing at the Exchange

1. Log in and open the “Exchange” menu.
2. Select the pair of cryptocurrencies you want to trade.
3. Choose a limit order (specify your desired price) or a market order (immediate trade at market price).
4. Enter the order quantity and price, then click “Buy”.

4. How to Sell Cryptocurrencies

　Selling cryptocurrencies can also be done through both the Market and the Exchange.

4.1 Selling at the Market

1. Open the “Market” menu and select the cryptocurrency you want to sell.
2. Enter the amount to sell and click “Sell”.
3. Confirm the details on the confirmation screen and click “Place Sell Order”.

4.2 Selling at the Exchange

1. Open the “Exchange” menu and select the pair of cryptocurrencies you want to sell.
2. Choose a limit order or a market order.
3. Enter the order quantity and price, then click “Sell”.

5. How to Withdraw JPY

　To withdraw JPY, follow these steps:

1. Click the “Deposit/Withdraw” menu and select the “JPY” tab.
2. Enter the bank account information for withdrawal and specify the amount.
3. Click “Withdraw” and enter the two-factor authentication code.
4. Once the withdrawal request is completed, the funds will be transferred to your bank account within one business day.

6. How to Use bitFlyer Lightning

　bitFlyer offers a platform called “bitFlyer Lightning” for more advanced trading.

6.1 What is bitFlyer Lightning?

　bitFlyer Lightning allows for spot trading, FX trading, and futures trading of Bitcoin. It also supports leverage trading up to twice the margin.

6.2 How to Trade

1. Log in and switch to the bitFlyer Lightning screen.
2. Select the pair of cryptocurrencies and the type of trading (spot, FX, futures).
3. Enter the order quantity and price, then place your trade.

7. Using the Mobile App

　bitFlyer also offers a mobile app for trading. By downloading the app and logging into your account, you can access the same features as on the PC. It’s very convenient for buying and selling cryptocurrencies and managing deposits and withdrawals on the go.

Summary

　bitFlyer is a versatile cryptocurrency exchange that can be used by both beginners and advanced users. By mastering the steps from account creation to cryptocurrency trading and utilizing bitFlyer Lightning, you can trade safely and efficiently. Always keep up with the latest information and trade wisely.

Reference Links

• bitFlyer Official Website

　This is a basic guide on how to use bitFlyer. For detailed information and the latest updates, please refer to the official website and related links.

Using Other Cryptocurrency Exchanges

　If you are not satisfied with bitFlyer, consider using other cryptocurrency exchanges. Here, we introduce various exchanges along with their features and how to use them.

1. Coincheck

Reason: Coincheck is a very popular cryptocurrency exchange in Japan, handling many altcoins. It is also well-received for its user-friendly interface.

How to Use:

• Account Creation: Access the Coincheck official website, register your email address and password, enter your basic information, and upload identification documents.
• Deposit: Methods include bank transfer, convenience store deposit, and Pay-easy deposit.
• Purchase Cryptocurrency: Choose the desired cryptocurrency at the market or exchange, enter the purchase amount, and buy.

2. GMO Coin

Reason: Operated by GMO Internet Group, GMO Coin is highly reliable and offers excellent security measures.

How to Use:

• Account Creation: Register on the GMO Coin official website, enter your email address, and submit identification documents to activate your account.
• Deposit: Methods include bank transfer, quick deposit, and convenience store deposit.
• Trade Cryptocurrency: Purchase cryptocurrency at the market or exchange. Leverage trading is also available.

3. bitbank

　Reason: bitbank is attractive for its low transaction fees and a wide range of trading pairs. It also provides advanced chart analysis tools, popular among traders.

How to Use:

• Account Creation: Access the bitbank official website, register your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit JPY via bank transfer.
• Trade Cryptocurrency: Choose the desired cryptocurrency at the exchange and place an order. bitbank supports both market and limit orders.

4. DMM Bitcoin

Reason: Operated by DMM Group, which has extensive experience in the financial industry, DMM Bitcoin offers high reliability and security.

How to Use:

• Account Creation: Register on the DMM Bitcoin official website, enter your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit JPY via bank transfer, convenience store deposit, or quick deposit.
• Trade Cryptocurrency: Purchase cryptocurrency at the market or exchange.

5. Zaif

Reason: Operated by Tech Bureau, Zaif offers unique cryptocurrencies and tokens. The “Zaif Coin Reserve” service, which allows for accumulation investment, is especially popular.

How to Use:

• Account Creation: Access the Zaif official website, register your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit JPY via bank transfer.
• Trade Cryptocurrency: Choose the desired cryptocurrency at the exchange and place an order.

6. Binance

Reason: Binance is one of the largest cryptocurrency exchanges in the world, handling a wide variety of cryptocurrencies. It is also user-friendly for domestic users as it supports the Japanese language.

How to Use:

• Account Creation: Register on the Binance official website, enter your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit cryptocurrencies from other exchanges.
• Trade Cryptocurrency: Choose the desired cryptocurrency at the exchange and place an order.

7. Kraken

Reason: Kraken is a highly secure exchange popular among both beginners and advanced users. It has a strong reputation for financial product trading.

How to Use:

• Account Creation: Register on the Kraken official website, enter your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit JPY via bank transfer.
• Trade Cryptocurrency: Choose the desired cryptocurrency at the exchange and place an order.

8. Huobi

Reason: Huobi, based in China, is a major cryptocurrency exchange known for its high liquidity and wide variety of cryptocurrencies.

How to Use:

• Account Creation: Register on the Huobi official website, enter your email address and password, and submit identification documents to activate your account.
• Deposit: Deposit cryptocurrencies from other exchanges.
• Trade Cryptocurrency: Choose the desired cryptocurrency at the exchange and place an order.

　In conclusion, there are many cryptocurrency exchanges besides bitFlyer. Each has unique features and advantages, so it is important to choose the one that best suits your needs. Compare factors such as transaction fees, types of cryptocurrencies available, security measures, and user interface to find the optimal exchange. Always keep up with the latest information and ensure safe trading!