The Japanese bitFlyer cryptocurrency exchange arrives in the United States Based on Tokyo BitFlyer announced Tuesday afternoon having obtained permission to operate in 41 US states. UU
These states include New York, Washington DC, Texas, New Jersey and Georgia, among others (see the full list here). To put this in context, only three other cryptocurrency exchanges have a “BitLicense” endorsement, also known as an approval to operate by the Financial Services Department of New York.
BitFlyer is the largest trading exchange for cryptocurrency in Japan. According to the TechCrunch report, bitFlyer is trading $ 180 million in bitcoins per day.
By the way, bitcoin is trading at $ 11,244.59 from 10:20 am today.
Japanese bitcoin exchange bitFlyer is coming to the U.S
The Japanese crypto-currency exchange bitFlyer announced today its expansion in the United States, with the authorization to operate in 42 states to date. This includes regulatory approval in New York through the “BitLicense” of the State Financial Services Department, which only five other cryptocurrency companies currently have.
In comparison, Coinbase is licensed to operate in 48 states (including Washington, DC) and Gemini is in 46 states (including Washington, DC).
The exchange is by far the largest in Japan, with around $ 180 million worth of bitcoins a day. In terms of traditional trade volume, it is the world’s fourteenth largest exchange, but when the volume calculation is the margin added, the exchange is actually larger in terms of the total volume of world trade.
Founded in 2014, BitFlyer raised a total of $ 36 million in risk funds.
When it launches, the Americans only support the bitFlyer Bitcoin / USD exchange, but “plans to expand its cryptomedata to include altcoins like Litecoin, Ethereum, Ethereum Classic, Bitcoin Cash and more. ”
At that time, only it supports deposits and withdrawals of exchange via bitcoin wire transfer and USD, which means that first-time adopters will be institutional investors or high net worth. Finally, the stock market wants to add other forms of entry and exit funds, such as ACH transfer, which allows the average consumer to deposit or withdraw money more easily.
Like most exchanges, bitFlyer will have step verification levels. The first level solicits personal information such as your name and address and email and cell phone check, and the change can deposit and withdraw up to $ 2,000 in Bitcoin per day and redeem up to $ 3,000 in Bitcoin per day. The second level requires additional information, such as bank account verification and photo ID, and allows users to deposit and withdraw up to $ 50,000 in Bitcoins per day and negotiate a fee. An unlimited number of cryptocurrency.
With Bitcoin reaching 1,200% last year, there is a ton of demand for cryptocurrency and not many places to do it. While there are dozens of established exchanges in the world, only a few operate legally in the United States, and the two main ones are Gemini and Coinbase. And even these exchanges become blurred for slow customer service response times, an almost inevitable by-product of the increase in customer craze they see.
If bitFlyer can offer a solid experience in the trade and customer service, it is possible for them to establish themselves in the US market. UU