New cryptocurrencies are coming to the European and American subsidiaries of BitFlyer.
According to a release from the exchange today, bitFlyer Europe is adding buy and sell trades for bitcoin cash (BCH), ethereum classic (ETC), litecoin (LTC), lisk (LSK) and monacoin (MONA). bitFlyer USA is adding bitcoin cash, ethereum classic, and litecoin to its trade offering as well.
One of the oldest crypto exchanges, bitFyler operates out of Japan. Recently it was recognized as a ‘Real-10’ exchange by a Bitwise report to the U.S. Securities and Exchange Commission.
In the spring report, Bitwise claimed only ten of the top cryptocurrency exchanges–equal to five percent of the market–displayed real trading volumes.
In a statement, co-head and COO of bitFlyer Europe Andy Bryant said bitFlyer is listing the alternative cryptocurrencies to widen the American and European market offerings.
“By adding new altcoins, we are expanding bitFlyer’s Buy/Sell offer significantly, giving our customers instant access to some of the largest and most exciting altcoins in the world,” Bryant said.
New offerings also point toward the exchange standardizing across its various markets, Bryant continued.
“Those currencies were previously only available to our Japanese customers, so we’re also consolidating our offer across regions, building a global platform for traders all over the world.”
For now, alternative cryptocurrencies lisk and monacoin will not be available for bitFlyer USA customers.
The European arm of Japan-based cryptocurrency exchange bitFlyer has launched a bitcoin buying and selling service aimed to be easier to use than spot trading exchanges.
BitFlyer Europe announced the news on Tuesday, saying the new trading platform targets people wanting “a simple way to buy and sell bitcoin, from total beginners to experienced traders.” Until now, the firm offered only a pro-trader service, dubbed Lightning, as its euro-bitcoin marketplace.
Available via the bitFlyer Europe website, the “bitFlyer Buy/Sell” service allows users to exchange bitcoin for euros, with a maximum of 20 BTC per transaction.
According to its website, the service is not an order book exchange and users will pay no fees on sales or purchases of bitcoin. Presumably, in that case, bitFlyer is making its money on the spread between its own buying and selling prices.
Indeed, while the global average price for bitcoin displayed on crypto data service CoinMarketCap is €8,526 at time of writing, bitFlyer is offering sales at €8,727.
On sign-up, new users are expected to check a box indicating they are not residents of the U.S. Standard know-your-customer procedures request personal details such as address and phone number, as well as an identity documents like a passport or driving license.
The firm describes itself as the “only” crypto exchange to be licensed in Japan, the U.S. and the EU.
Andy Bryant, co-lead and COO of bitFlyer Europe, said:
“bitFlyer Buy/Sell is a virtual currency exchange for everyone – with simple two-click buy and sell capability. Not only is bitFlyer Buy/Sell easy to use, but with us users have the confidence that they are using a trusted, regulated platform with long-standing global heritage.”