What are BitFlyer's stablecoin trading pairs?

BitFlyer offers stablecoin trading pairs like BTC/JPY, ETH/JPY, and more, using JPY as a stablecoin to mitigate crypto volatility and facilitate efficient trading.

Apr 18, 2025 at 08:15 am

BitFlyer, one of the leading cryptocurrency exchanges in Japan, offers a variety of trading pairs, including those involving stablecoins. Stablecoins are cryptocurrencies designed to minimize the volatility typically associated with other digital assets, often pegged to a stable asset like the US dollar. In this article, we will explore the stablecoin trading pairs available on BitFlyer, providing detailed information on each pair and how to trade them.

Understanding Stablecoins on BitFlyer

Before diving into the specific trading pairs, it's important to understand what stablecoins are and why they are significant on BitFlyer. Stablecoins are cryptocurrencies that aim to offer price stability and are often pegged to a reserve asset like the US dollar or a basket of assets. On BitFlyer, stablecoins serve as a bridge between traditional fiat currencies and the volatile world of cryptocurrencies, making them an essential tool for traders looking to mitigate risk.

Available Stablecoin Trading Pairs on BitFlyer

BitFlyer offers several stablecoin trading pairs, each designed to cater to different trading needs. Here are the primary stablecoin trading pairs available on the platform:

• BTC/JPY
• ETH/JPY
• BCH/JPY
• LTC/JPY
• XRP/JPY
• ETH/BTC
• BCH/BTC
• LTC/BTC
• XRP/BTC

While the above list includes various trading pairs, the focus of this article is on the stablecoin pairs. BitFlyer primarily uses JPY (Japanese Yen) as the stablecoin in its trading pairs. The JPY is a fiat currency but functions similarly to a stablecoin on the platform due to its stability and widespread use.

Trading BTC/JPY on BitFlyer

The BTC/JPY trading pair is one of the most popular on BitFlyer. This pair allows traders to exchange Bitcoin (BTC) for Japanese Yen (JPY). Here's how to trade this pair:

• Log into your BitFlyer account: Ensure you have a verified account on BitFlyer.
• Navigate to the trading section: Click on the "Trade" tab on the top menu.
• Select the BTC/JPY pair: From the list of available trading pairs, choose BTC/JPY.
• Place your order: Decide whether you want to buy or sell BTC. You can choose between a market order, which executes at the current market price, or a limit order, which allows you to set a specific price.
• Confirm and execute the trade: Review your order details and confirm the trade. The transaction will be processed, and your account will be updated accordingly.

Trading ETH/JPY on BitFlyer

The ETH/JPY trading pair allows traders to exchange Ethereum (ETH) for Japanese Yen (JPY). Here's how to trade this pair:

• Log into your BitFlyer account: Ensure you have a verified account on BitFlyer.
• Navigate to the trading section: Click on the "Trade" tab on the top menu.
• Select the ETH/JPY pair: From the list of available trading pairs, choose ETH/JPY.
• Place your order: Decide whether you want to buy or sell ETH. You can choose between a market order, which executes at the current market price, or a limit order, which allows you to set a specific price.
• Confirm and execute the trade: Review your order details and confirm the trade. The transaction will be processed, and your account will be updated accordingly.

Trading BCH/JPY on BitFlyer

The BCH/JPY trading pair allows traders to exchange Bitcoin Cash (BCH) for Japanese Yen (JPY). Here's how to trade this pair:

• Log into your BitFlyer account: Ensure you have a verified account on BitFlyer.
• Navigate to the trading section: Click on the "Trade" tab on the top menu.
• Select the BCH/JPY pair: From the list of available trading pairs, choose BCH/JPY.
• Place your order: Decide whether you want to buy or sell BCH. You can choose between a market order, which executes at the current market price, or a limit order, which allows you to set a specific price.
• Confirm and execute the trade: Review your order details and confirm the trade. The transaction will be processed, and your account will be updated accordingly.

Trading LTC/JPY on BitFlyer

The LTC/JPY trading pair allows traders to exchange Litecoin (LTC) for Japanese Yen (JPY). Here's how to trade this pair:

• Log into your BitFlyer account: Ensure you have a verified account on BitFlyer.
• Navigate to the trading section: Click on the "Trade" tab on the top menu.
• Select the LTC/JPY pair: From the list of available trading pairs, choose LTC/JPY.
• Place your order: Decide whether you want to buy or sell LTC. You can choose between a market order, which executes at the current market price, or a limit order, which allows you to set a specific price.
• Confirm and execute the trade: Review your order details and confirm the trade. The transaction will be processed, and your account will be updated accordingly.

Trading XRP/JPY on BitFlyer

The XRP/JPY trading pair allows traders to exchange Ripple (XRP) for Japanese Yen (JPY). Here's how to trade this pair:

• Log into your BitFlyer account: Ensure you have a verified account on BitFlyer.
• Navigate to the trading section: Click on the "Trade" tab on the top menu.
• Select the XRP/JPY pair: From the list of available trading pairs, choose XRP/JPY.
• Place your order: Decide whether you want to buy or sell XRP. You can choose between a market order, which executes at the current market price, or a limit order, which allows you to set a specific price.
• Confirm and execute the trade: Review your order details and confirm the trade. The transaction will be processed, and your account will be updated accordingly.

Benefits of Trading Stablecoin Pairs on BitFlyer

Trading stablecoin pairs on BitFlyer offers several benefits to traders. Firstly, stablecoins like JPY provide a stable value, which can be crucial for traders looking to hedge against the volatility of other cryptocurrencies. Secondly, trading with stablecoins can facilitate faster and more efficient transactions, as they are less likely to experience the price fluctuations that can delay or complicate trades. Lastly, using stablecoins can provide a more straightforward entry and exit point for traders moving between fiat and cryptocurrencies.

Considerations When Trading Stablecoin Pairs

While trading stablecoin pairs on BitFlyer can be advantageous, there are several considerations to keep in mind. Liquidity is a crucial factor; ensure that the trading pair you choose has sufficient liquidity to execute your trades efficiently. Fees are another important consideration; BitFlyer charges different fees for different trading pairs, so it's essential to understand the fee structure before trading. Regulatory compliance is also vital, especially when trading with JPY, as Japan has strict regulations governing cryptocurrency exchanges.

Frequently Asked Questions

Q: Can I trade other stablecoins on BitFlyer besides JPY?

A: Currently, BitFlyer primarily uses JPY as the stablecoin in its trading pairs. Other stablecoins like USDT or USDC are not available for trading on BitFlyer.

Q: How do I deposit JPY into my BitFlyer account?

A: To deposit JPY into your BitFlyer account, follow these steps:

• Log into your BitFlyer account.
• Navigate to the "Deposit" section.
• Select "JPY" as the currency you want to deposit.
• Choose your preferred deposit method (e.g., bank transfer).
• Follow the on-screen instructions to complete the deposit.

Q: Are there any limits on trading stablecoin pairs on BitFlyer?

A: Yes, BitFlyer has trading limits that vary depending on your account verification level. Higher verification levels allow for higher trading limits. You can check your current limits in the "Account" section of your BitFlyer account.

Q: Can I use leverage when trading stablecoin pairs on BitFlyer?

A: BitFlyer does offer margin trading, which allows you to use leverage. However, the availability of leverage for specific trading pairs, including stablecoin pairs, may vary. Check the "Margin Trading" section on BitFlyer for more details on which pairs support leverage and the associated terms.