【英語解説】コインチェックとビットフライヤーはどちらが初心者にとっていいのか？

相談者

Which is better, CoinCheck or BitFlyer?

If there's a difference in service, I'd like to know!

相談者

This article addresses these concerns.

So let's get right to it!

The reasons for the recommendations listed in this article are subjective to the author.

This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the orijinal shall prevail.

【Comparison Chart】 Coincheck and BitFlyer

First, here is a comparison chart between CoinCheck and BitFlyer.

This may not be clear to you, so we will explain the important points.

Comparison of each theory] Coincheck and BitFlyer

In this section, we will focus on each of the items in the comparison chart.

By understanding the above four major points, you can make a decision on which exchange you would like to use.

Let's look at them in order.

Number of currencies handled

The first is the number of virtual currencies handled.

Coincheck offers 18 types and BitFlyer 19 types.

However, BitFlyer has more stocks available for purchase on the "exchange".

Each currency has its own characteristics, such as Ethereum is required to purchase the popular NFT, and Ripple is excellent for money transfers.

This is not relevant for those who only want to buy bitcoin, but if there is a possibility of having multiple stocks in the future, bitflyer would be easier to use in the long run.

Of course, it is possible to buy bitcoin at Coincheck and other currencies at BitFlyer, etc.

Selling price of virtual currency

The second is the selling price of the virtual currency.

Below is a table comparing unit prices at fixed points.

Please note that the unit price of virtual currency goes up or down every few seconds.

Please just understand that there is no big difference here.

The reason I ask is that the price of bitcoin is currently hovering just over 2 million, but it is not easy for some beginners to buy 1 bitcoin (BTC).

So, if you are trying to buy 0.001 BTC at the same price, there will be almost no difference.

Calculations are based on "Exchange" prices. Exchange" is a user-to-user transaction, so the selling price is not the same.

Minimum Purchase Amount (Sellers and Exchanges)

The third point is the minimum amount of virtual currency to purchase.

If you are not familiar with sales offices and exchanges, please refer to another article that explains the details.

First of all, the minimum amount at the "sales office".

Bitcoin can be traded for as little as 1 yen. Coincheck's price is also 500 yen, so it is not that expensive.

Next is the minimum amount on the "exchange".

The "exchange" is easier to operate, but there is a commission (≒ spread) on it, so basically, it is recommended to buy at a lower price by trading on the "exchange".

So, if you use an exchange, BitFlyer, which has a cheaper minimum amount, will lower the purchase hurdle and make it easier for you to make a purchase.

Deposit and Withdrawal Fees

The fourth is the fee for deposits and withdrawals.

Deposits of Japanese yen are required to purchase virtual currency, and withdrawals are also required to receive cash in the event of a profit on a sale.

Deposit and Withdrawal fees are the money you will be charged for doing so.

Let's take a look at each one!

Japanese Yen deposit fee

Both exchanges charge no deposit fees, but transfer fees are borne by the customer.

However, each company designates a transfer bank, and it is possible to waive the transfer fee by transferring from a supported bank account.

Japanese Yen Attendance Fee

Coincheck charges a flat fee, while BitFlyer's fee varies depending on various conditions.

As far as fees go, I think Coincheck is a better deal, partly because it's a flat fee!

summary

This article is intended for beginners and is summarized below.

I think it is better to make a decision depending on the stocks you want to buy, or to use a combination of both.

That is all for this article. Thank you!