In this guide, we’ll walk you through the process of purchasing Ethereum (ETH) on bitFlyer, Japan’s leading cryptocurrency exchange. Whether you’re using Japanese yen (JPY) or Bitcoin (BTC), we’ll cover both methods in detail.
Introduction
bitFlyer offers two primary ways to buy Ethereum:
Via the "Altcoin Sales" (販売所):
- Currency pair: ETH/JPY
- Requires JPY deposit.
- Simpler but slightly higher fees.
Via the Exchange (bitFlyer Lightning):
- Currency pair: ETH/BTC
- Requires BTC (either purchased on bitFlyer or transferred from another wallet).
- More cost-effective but involves additional steps.
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Method 1: Buying ETH via the Sales Desk
Step-by-Step Process
- Log in to bitFlyer and navigate to the Altcoin Sales Desk (左メニュー > アルトコイン販売所).
Select ETH/JPY from the currency dropdown.
- ⚠️ Caution: Avoid accidentally selecting ETC/JPY (Ethereum Classic).
Enter the quantity of ETH you wish to purchase.
- The JPY equivalent will update automatically.
- Click [Buy Coins] > [Execute Order] within 6 seconds.
- Verify the purchase under Order History (注文履歴) or check your asset balance on the homepage.
Pros and Cons
| Pros | Cons |
|-------------------------------|-------------------------------|
| Simple JPY-based transactions | Higher fees than the exchange |
| Instant execution | Limited to ETH/JPY pairs |
Method 2: Buying ETH via bitFlyer Lightning (Exchange)
Prerequisites
- Ensure you already hold Bitcoin (BTC) in your bitFlyer account.
Step-by-Step Process
Limit Order (指値注文)
- Navigate to bitFlyer Lightning > Select ETH/BTC.
Choose Limit Order and enter:
- Quantity (ETH)
- Price (BTC)
- Review the estimated cost and fees.
- Click [Buy] > Confirm to place the order.
- Monitor Trade History for status updates (e.g., "Filled" or "Partial Fill").
Market Order (成行注文)
- Faster but riskier due to potential price volatility.
- Select Market Order and enter only the ETH quantity.
- Confirm the estimated price (note: actual execution may vary).
- Click [Buy] to complete.
Troubleshooting
- Slow server? Cancel pending orders via the × button and retry.
- Partial fills? Wait or adjust your price to match the market.
FAQs
1. Can I buy ETH with credit cards on bitFlyer?
No, bitFlyer only supports JPY bank transfers or BTC swaps for ETH purchases.
2. Why is my ETH/BTC order not filling?
Check if your bid price aligns with the current market. Lower your price or use a market order for faster execution.
3. How do I transfer BTC to bitFlyer for ETH trading?
Deposit BTC from an external wallet to your bitFlyer BTC address under Wallet > Receive.
4. Which method is cheaper?
Exchange (ETH/BTC) typically offers better rates than the sales desk (ETH/JPY).
Final Tips
- New users: Start with the Sales Desk for simplicity.
- Advanced traders: Use bitFlyer Lightning for lower fees.
- Always double-check currency pairs (ETH vs. ETC) and order types.
👉 Ready to trade? Start with bitFlyer today
This guide ensures you can confidently buy Ethereum on bitFlyer, whether you're a beginner or an experienced trader. Happy investing!