The world’s largest Bitcoin and Ethereum exchange BitFlyer is making its way over to Europe, set to fuel the furore around cryptocurrencies even further.
Based out of Japan, BitFlyer got the green light to launch in Europe after being granted a payment institution (PI) licence for the European Union, which follows on from its regulatory approval in Japan and the US.
With a PI license for Europe, BitFlyer is now the only only exchange within the European Union to have the permissions to legally buy and sell cryptocurrencies.
Give some 10 billion Euros worth of Bitcoin is traded on a monthly basis through BitFlyer, the exchange looks set to provide Europeans with access to Japan’s massive cryptocurrency market.
The move by BitFlyer into Europe is evidence of the boom of cryptocurrencies, especially the likes of Bitcoin and Ethereum. But at the same time, such unregulated digital currencies tend to shoot up and down in value at a heady rate.
There are plenty of tales of people investing in cryptocurrencies that seem to be soaring in value only for them to slump a day later.
As such, while banks are showing curiosity in cryptocurrencies and retailers and services seem more keen on accepting Bitcoin payments, there are also plenty of murmurs that the excitement around cryptocurrencies will burst.
So before you take your hard-earned cash and delve into the world of cryptocurrency trading, it’s worth taking plenty of time to research and assess the risks verses the rewards of getting involved in the chaotic world of digital money.
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.