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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
BitFlyer vs Coinbase in comparison
Overview
- 0.10% Lightning fee at the entry tier, down to 0.03% with volume
- New York BitLicense and state licenses in the US
- MiCA authorization from the CSSF for EU and EEA customers
- Purchases from $1, plus recurring buys
- Free Fedwire and SEPA deposits
- Lightning with more than 20 order types and an API
- 9 crypto assets for US accounts
- US Buy/Sell prices include a fee of up to 6.0%
- Fixed 0.0004 BTC fee per bitcoin withdrawal
- Not available in Nevada
- No proof-of-reserves report found
- Open in every US state, including New York under an NYDFS license
- Money transmitter licenses in 47 US jurisdictions, plus authorizations in Luxembourg, the UK and Canada
- Simple app for buying, plus Coinbase Advanced with TradingView charts and advanced order types
- More than 400 crypto assets with live markets, plus commission-free US stock trading 24/5
- Two-factor authentication switched on by default, with security key support
- Parent company listed on Nasdaq, with quarterly financial reports
- Higher entry-level fees than Kraken Pro: 0.50% maker and 0.90% taker on Coinbase Advanced in the US, against 0.40% and 0.80%
- Simple buys include a spread, and simple limit orders add a 1% execution fee
- Bitcoin and Ether futures for US customers go up to 10x leverage, so traders who want more look elsewhere
- No proof-of-reserves report for exchange balances that we could find
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
0.1
%
0.10%
0.10%
₿
0.0004
0.9
%
0.90%
0.50%
Varies
9
+
$
1
407
+
$
2
Exchange Rating
Functions
- No separate fee on Buy/Sell, the fee is in the price
- Lightning spot fee of 0.10%, down to 0.03% with volume
- New York BitLicense and MiCA authorization
- Spot, futures trading options
- Coinbase Card
- Coinbase Wallet
Company Details
Our Review
Coinbase is a US-listed exchange accessible to residents in every US state, with regulatory licenses in the US, Luxembourg, and the UK. In our view it is a good place for a first crypto purchase, with a simple app and a regulated operator. Active traders can pay less: we would compare Kraken Pro first, whose entry-level taker fee is 0.80%, against 0.90% on Coinbase Advanced in the US.
Japan's Exchange vs America's Exchange
BitFlyer established itself as a leading Japanese crypto exchange. Coinbase became America's most recognized crypto on-ramp. Both platforms target everyday users rather than professional traders, but their approaches to fees and features differ significantly.
Beginner Focus
Coinbase earns a perfect 10/10 for beginner friendliness. It's very easy to use, explicitly beginner-friendly, and has become many Americans' first crypto experience. The interface prioritizes simplicity.
BitFlyer scores 5/10 for beginners. While the platform offers strong security and years of experience, users report bugs, an interface that could be more user-friendly, and a somewhat dreary design.
Coin Selection
Coinbase lists more than 400 cryptocurrencies with regular additions as new projects gain traction.
BitFlyer offers just 9 cryptocurrencies to US accounts, limited to major coins, which might suffice for casual buyers but constrains anyone wanting altcoin exposure.
The Fee Problem
Coinbase includes a spread in the price of simple trades and adds a Coinbase fee, expensive but transparent for the simplicity offered. It scores 5/10 on fees.
BitFlyer doesn't charge a fixed per-trade fee, but spreads can run up to 6%. That hidden cost might seem cheaper initially but adds up, especially for larger trades. BitFlyer scores 7/10 on fees, but the spread issue is significant.
Trust and Security
Coinbase is a publicly listed company, regulated in the U.S., and scores 9/10 on security and trust. The institutional backing provides confidence.
BitFlyer scores 6/10 on security. While it has strong security measures, users report occasional technical glitches and long transaction times.
Features
Coinbase offers spot and futures trading, the Coinbase Card, and Coinbase Wallet for self-custody. Coinbase Advanced Trade provides advanced trading for those who outgrow the simple interface.
BitFlyer focuses on basic spot trading and offers no derivatives to US or EEA accounts. The feature set is narrower.
Making Your Choice
Coinbase at 8.3 is the standard entry point for American crypto buyers—easy, trusted, and accessible despite high fees. Customer support has mixed reviews but the platform works.
BitFlyer at 7.1 serves the Japanese market well but may feel dated and limited to international users. The spread-based fee model can get expensive.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
