The world's largest Bitcoin exchange to be starting up in the U.S.!
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
Hey jrcornel,
Thanks for the great content
How many currencies are listed on it? Is there Fiat money pairs available
bitcoin, litecoin, and ethereum
yawn
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
Only 3 with more to be listed later.
At least their fees are lower than Bittrex...after the free period is over.
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?
So, basically I need to power down now.
Those coins you mentioned above are lame ducks.
You can add money via Japanese Yen.
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.
Haha that is pretty funny! Sadly it's probably not that far off...
The first three are what Bittrex required.
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!
Hay its really great news and great to involved in this platform and it's a great opening and good information
Let's get Steem on there, its good to have an alternative to Coinbase.
Or how about we get steem on both? ;)
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...
Any place is better than HitBTC, because they constantly disable Steem deposits and withdrawals... I only used HitBTC because of Dashcoin and MinerGate.
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...
I have most of my Bitcoins stuck in Coinbase... Not enough to transfer to anywhere...
BTC value touches highs
good post
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...
😄😇😄
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 :)
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
I hadn't seen that before. Thanks for sharing.
That is a pretty neat visual!
Awesome post , I wonder if it will be available in Canada as well ? Thanks for sharing upvoted and followed 😊
Wow that's huge... and zero trading fee...I would say Bitflyer warming up to give coinbase some hard time.
nice share @jrcornel