The world's largest Bitcoin exchange to be starting up in the U.S.!

jrcornel (84) in cryptocurrency • 7 years ago (edited)

BitFlyer announced today that they will be launching in the U.S. in the very near future.

If you are not familiar, BitFlyer is the largest bitcoin exchange by trading volume in the world.

Which means this is very big news.

BitFlyer is originally based in Tokyo Japan and it's trading volume is predominantly dominated in Japanese Yen.

Today, BitFlyer announced that they have obtained a "BitLicense" from the state of New York which allows them to operate there.

BitFlyer also announced that they have received licenses to operate in 40 other states as well.

This would mark the 4th exchange that has received this special BitLicense from New York's Department of Financial Services.

Who are the 3 others you might be wondering?

Coinbase, Circle, and Ripple are the previous 3 exchanges to receive that same license.

BitFlyer CEO, Yuzo Kano is very pleased with the license approval and is happy to get started in the United States.

"BitFlyer is proud to have been granted a BitLicense to do business in the state of New York. This is a nod of approval from one of the most influential state financial services regulators in the nation."

Likely just the first domino to fall as other states are approving as well.

Things are about to change dramatically in the crypto industry.

BitFlyer's U.S. based COO, Bartek Ringwelski, also had this to say about the coming changes:

"Bitcoin in 2018 transitions from something that is viewed as a social phenomenon and very quickly transitions into an established institutional phenomenon."

Can they give Coinbase a run for their money?

As was reported yesterday, Coinbase's user accounts now outnumber that of Charles Schwab and are inching ever closer to that 14 million number:

https://steemit.com/coinbase/@jrcornel/coinbase-now-has-more-users-than-charles-schwab

Bitflyer plans to pick up support very quickly by offering zero trading fees from now until the end of this year for U.S. based clients.

Yes you read that right, ZERO TRADING FEES.

The exchange has a much better trading platform than Coinbase as well:

Bitflyer plans to support bitcoin, litecoin, and ethereum with plans to support several others as well by 2018.

The news is coming fast and furious these days ladies and gentleman. It's a wonderful time to be involved in the space.

Stay informed my friends.

Sources:

https://www.cnbc.com/2017/11/28/worlds-largest-bitcoin-exchange-bitflyer-enters-the-us.html

Image Sources:

http://infocoin.net/en/2017/08/19/bitflyer-expands-to-the-us-market/

https://www.cnbc.com/2017/11/28/worlds-largest-bitcoin-exchange-bitflyer-enters-the-us.html

Follow me: @jrcornel

cryptocurrency bitcoin bitflyer news blog

7 years ago by jrcornel (84)

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coinlend (55) · 7 years ago

Hey jrcornel,
Thanks for the great content

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1 vote

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awanawan (53) · 7 years ago

How many currencies are listed on it? Is there Fiat money pairs available

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10 votes

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deanlogic (61) · 7 years ago

bitcoin, litecoin, and ethereum

yawn

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awanawan (53) · 7 years ago

Only 4? I think they should listed more. So the trading volume of crypto on this exchange will increase. More pairs will attract the more traders

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deanlogic (61) · 7 years ago

Only 3 with more to be listed later.

At least their fees are lower than Bittrex...after the free period is over.

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1 vote

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jrcornel (84) · 7 years ago

They said they plan on adding more in early 2018. We really need to get Steem on this one and Coinbase. Coinbase is exploding with new retail accounts right now. Can you imagine what that might mean for the price of steem of it was placed in front of all these new buyers?

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introvertspeaks (51) · 7 years ago

So, basically I need to power down now.

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introvertspeaks (51) · 7 years ago

Those coins you mentioned above are lame ducks.

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deanlogic (61) · 7 years ago

You can add money via Japanese Yen.

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deanlogic (61) · 7 years ago

Will require US photo ID, ssn, selfie, hair sample and drop of blood with contract to hand over 49% of profits to Uncle Sam for verification.

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3 votes

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jrcornel (84) · 7 years ago

Haha that is pretty funny! Sadly it's probably not that far off...

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deanlogic (61) · 7 years ago

The first three are what Bittrex required.

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introvertspeaks (51) · 7 years ago

Lmao, true that! These exchanges are making people under government surveillance. I am glad Bitfinex is not implementing similar crap to their users unless you withdraw in fiat. I love Bitfinex!

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funatoz (63) · 7 years ago

Hay its really great news and great to involved in this platform and it's a great opening and good information

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6 votes

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evernoticethat (64) · 7 years ago

Let's get Steem on there, its good to have an alternative to Coinbase.

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1 vote

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jrcornel (84) · 7 years ago

Or how about we get steem on both? ;)

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1 vote

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evernoticethat (64) · 7 years ago

Didn't know Steem wasn't on CB, I had so much trouble creating an account. We need to be on every exchange. If things go well, someday we will...

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mtl1979 (50) · 7 years ago

Any place is better than HitBTC, because they constantly disable Steem deposits and withdrawals... I only used HitBTC because of Dashcoin and MinerGate.

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1 vote

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jrcornel (84) · 7 years ago

Steem has had trouble on a lot of exchanges to be honest. I am not quite sure why that is. Besides Bittrex and Poloniex there is not a lot of steem traded on other exchanges. We really need to get it added to Coinbase...

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1 vote

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mtl1979 (50) · 7 years ago

I have most of my Bitcoins stuck in Coinbase... Not enough to transfer to anywhere...

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sanjim (56) · 7 years ago

I need your help.
I know you are good person

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yasirgawad (54) · 7 years ago

Good work dear friend

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harpooninvestor (47) · 7 years ago

Litecoin would be quite interesting. Does even Coinbase do Litecoin?

Would be VERY interesting to see what the first non-btc/eth coin will be to attract a NY State licensee to begin trading it.

Very interesting Coinbase is over Schwabb, but that makes sense bc we don't hear any retail investors talking about stocks anymore, but plenty talking about cryptos.

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bijoy123 (5) · 7 years ago

good post

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googlee (63) · 7 years ago

Hay its really great news about bitfly and it's really great for new york......

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creatr (70) · 7 years ago

Good for mainstreaming, I suppose...

But hampered, no doubt, by all the FINCEN / Know Your Customer and etc. regulations. But hey, as long as the sheeple flock to be shorn...

😄😇😄

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jrcornel (84) · 7 years ago (edited)

In my opinion these regulations were always coming if we ever expected these things to ever catch on in a meaningful way with the masses. For me personally, I was never counting on bitcoin circumventing governments around the world without some major pushback. Also, if there is no regulation, the majority of the money in the world probably will not feel safe enough to use them.... so there is that :)

A little bad with the good I suppose :)

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3 votes

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creatr (70) · 7 years ago

Indeed... a mix, and as I said, good for mainstreaming...

As long as value continues to migrate out of fiat into crypto, I am glad.

Have you ever seen this? http://fiatleak.com

An interesting visualization. :D

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1 vote

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jrcornel (84) · 7 years ago

I hadn't seen that before. Thanks for sharing.

That is a pretty neat visual!

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1 vote

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mickyscofield (54) · 7 years ago

Amazing!!! Never heard Bitflyer before but will there wallets be restricted to only U.S citizens only?
Thanks for the information @jrcornel
I can predict another milestone for some other cryptocurrencies aside bitcoin.

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singhrajat (66) · 7 years ago

What if I don't have money to invest, id think zero fees gonna help me ☺

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jenara (52) · 7 years ago

Well come the giant of bitcoin.

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eliashossain (63) · 7 years ago

Thank you for posting nice information. I want to know whether any of the bitcoin and bitflyer are connected?

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windrockswater (48) · 7 years ago (edited)

Who couldn't give coinbase a run for their money. As long as they are fast ,accurate and can handle volume. It is big news. Thank you for bringing it.

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mindhunter07 (50) · 7 years ago

BTC value touches highs

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stevecoin77 (47) · 7 years ago

Awesome post , I wonder if it will be available in Canada as well ? Thanks for sharing upvoted and followed 😊

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agt2001 (41) · 7 years ago

Sounds awesome. I just wonder about future regulations!!

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minimalpris (73) · 7 years ago

hmm... if there are "ZERO TRADING FEES", how are they going to make money? and pay there develpers, servers, ...?

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jrcornel (84) · 7 years ago

It's zero fees for U.S. based customers through the rest of this year only. That is to get people used to using their platform and hopefully keep em when the fees come back.

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1 vote

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minimalpris (73) · 7 years ago

make sense...thanks :-)

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bcsaffy (41) · 7 years ago

I'm weary of any exchange that doesn't have plans to work towards decentralization. Once the US Government and IRS start to come after crypto it will be hard/impossible to access funds on these centralized exchanges.

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mejustandrew (58) · 7 years ago

Zero trading fees... so bad I don't live in US :)

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livelifefullest (62) · 7 years ago

wOW; Great news, big benefit for all of us. We cant imagine what it will bring.

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coar (60) · 7 years ago (edited)

If you are not familiar, BitFlyer is the largest bitcoin exchange by trading volume in the world.

Really? What you talking about??
https://coinmarketcap.com/exchanges/volume/24-hour/
CTRL+F -> BitFlyer - 14 place?

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jrcornel (84) · 7 years ago

Good catch. CNBC has some splaining to do. However, it does specifically say bitcoin trading volume. Just checked that figure and it appears they are 3rd. Not 1st but also not 14th...

https://data.bitcoinity.org/markets/volume/24h?c=e&t=b

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bitgeek (62) · 7 years ago

Congratulations @jrcornel, this post is the ninth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 28 and the total pending payments to posts in these categories was $1019.67. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

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ataayo (46) · 7 years ago

---Bitcoin is a train without brakes---

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taskmaster4450 (78) · 7 years ago

This is great news. People seem to think that BTC is dead...the news just keeps flowing in.

By the way, Coinbase, through GDAX offers zero fee trading too.

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xabi (71) · 7 years ago

Wow that's huge... and zero trading fee...I would say Bitflyer warming up to give coinbase some hard time.
nice share @jrcornel

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randr10 (62) · 7 years ago

I think if I had actually gotten involved back when I first heard about Bitcoin (it was trading less than a dollar then, doh!), this state of mind might have happened sooner. But right now I'm just in awe of what's happening with cryptos. It seems like we're on the precipice of something vast and we're still in the earliest stages of the journey.