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The crypto exchange bitFlyer USA has indicated that there will be no additional fee for instant deposits and customers will be able to deposit up to $1,000 per week.
Popular cryptocurrency exchange bitFlyer USA has made instant deposits available for US traders ahead of bitcoin’s third halving. The launch will enable users on desktop and mobile apps to immediately access funds deposited from connected bank accounts to make swifter trades.
Prior to the announcement, bitFlyer users frequently had to contend with wait times of 3-5 business days before deposits would clear into their exchange wallets. Now, they can instantly finance their bitFlyer accounts from linked banks and purchase crypto securely in one place.
Fee-less Deposits for a Fast-Paced Market
bitFlyer USA has indicated that there will be no additional fee for instant deposits, with customers able to deposit up to $1,000 per week. With instant deposits and withdrawals, the exchange aims to compete with competitors such as Coinbase and Kraken, which also serve the US market.
A spokesperson for the exchange said: “Instant Deposit helps resolve the delays caused by using traditional banking, and allow our customers to take advantage of immediate opportunities to trade cryptocurrencies in a fast-paced market.”
In a further bid to capture new customers, BitFlyer USA is incentivizing new customers who make an instant deposit and trade over $100 by gifting them $25 worth of BTC. Bitcoin has been performing well of late, particularly when compared to traditional commodities such as oil and gold. Some industry voices are predicting that the currency will hit an all-time high before the end of the year.
Eliminating latency for account deposits is one of several recently-introduced measures designed to improve users’ trading experience. Back in January, the platform launched a commission-free campaign for a BTC/USD trading pair. A new affiliate program was also launched, with users rewarded with $50 for every friend or family member they brought onto the platform.
Licensed in San Francisco in 2016, bitFlyer USA is a subsidiary of the original Tokyo-based exchange and operates in 47 states and territories including New York as a holder of the New York BitLicense. It remains the only platform in the world licensed in the US, EU and Japan, with millions of users free to trade in multiple cryptocurrencies such as bitcoin, ethereum and litecoin.