Japanese Bitcoin Exchange Opens New Bitcoin Trading Service in European Market
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Controversial Japanese bitcoin exchange, BitFlyer has recently opened up a new bitcoin trading service for EU (European Union) market with no fees.
The exchange suspended account opening for its Japanese clients following country regulator’s skepticism on its Anti-Money laundering and know-your-customer procedures back in June 2018. FCA/Financial Service Agency had earlier sent notices to a total of six crypto exchanges including bitFlyer – recently, the exchange announced resuming of account opening for Japanese users in early July this year.
Within a month of resuming its service in Japan, the exchange has reportedly started its service for the EU market. It’s a simple bitcoin trading service, targeting users to access to a simple way of buying and selling bitcoin. The platform states that anyone can buy and sell cryptocurrencies without the complexity and limitations of advanced platforms.
The exchange claims that it is a licensed financial institution operating in Europe, Japan, and the United States but during the sign-up process, it is ensuring that users should be non-residents of the US. Andry Bryant, the co-lead and COO of bitFlyer Europe says that their new platform offers “two-click buy and sell capability
As per its official website, users can exchange bitcoin for euros with a maximum of 20 BTC per transactions. Moreover, it isn’t an order book exchange, according to its website rather users can access to trading with no fees. Nevertheless, it says that the buy and sell price are defined by the platform itself and constantly visible at the top. Presumably, if not trading fees, the exchange will likely earn on the spread between the platform’s own buying and selling prices
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