bitFlyer USA vs SimpleSwap

bitFlyer USA3.4/5

VS

SimpleSwap4.1/5

Feature	bitFlyer USAVisit	SimpleSwapVisit
Ratings
Our score	3.4/5	4.1/5
User rating	No reviews yet	No reviews yet
Fees	4.0	3.0
Security & trust	3.5	4.0
Asset selection	3.0	5.0
Ease of use	3.5	4.5
Support	3.0	4.0
Specs
Markets	Spot, OTC	Spot
Maker fee	0.1%	Not disclosed
Taker fee	0.1%	Not disclosed
Coins listed	Not disclosed	2,800
Fiat deposit methods	Not disclosed	Card
KYC required	Yes	No
Accepts US customers	Yes	Not disclosed
Proof of reserves	No	Not disclosed
Mobile app	Yes	Yes
Licenses & registrations	New York BitLicense, FinCEN MSB, US Money Transmitter Licenses (49 states)	Not disclosed
Security features	100% cold storage, Multi-signature custody, 2FA	Non-custodial architecture, Direct wallet settlements
Futures & perpetuals	No	No
Copy trading	No	No
P2P market	No	No
Referral program	Not disclosed	Yes
Company
Founded	2017	2018
Headquarters	United States	—
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Holds a New York BitLicense and regulatory licenses in 49 states 0.10% entry spot fee on the Lightning book Lightning terminal offers advanced orders like icebergs and trailing stops Multi-signature cold storage for digital asset deposits	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates
Cons	Fined $1.2M by NYDFS in May 2023 for cybersecurity deficiencies No public real-time cryptographic proof of reserves Unavailable to residents of Hawaii Mandatory KYC identity verification for all accounts	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification
Best for	US traders requiring licensed exchanges, Active algorithmic spot traders, New York crypto investors	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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