bitFlyer

bitFlyer is a centralised exchange that has been operating since 2014, registered in Japan. CoinGecko tracks 5 assets across 8 trading pairs here. Its trust score is 7 out of 10, ranking it 59th of the exchanges CoinGecko scores. That score blends order book depth, bid-ask spreads, reported volume against web traffic, and whether the venue holds recognised licences — it is a liquidity and transparency measure, not an audit or a safety rating.

Across the 7 busiest pairs on this venue, 97.7% of the volume runs through just three of them — BTC/JPY, ETH/JPY and XRP/JPY. Concentration that heavy means the headline volume figure describes a handful of markets. Anything outside them is likely to be much thinner than the exchange's total suggests.

The median bid-ask spread on these pairs is 0.275%. That is a workable spread for retail-sized orders, though it is worth checking the individual pair you intend to trade rather than relying on the median.

By quote currency, 0.0% of this volume is priced in stablecoins and 99.5% in government currencies. A venue with that much fiat volume is generally usable as an on-ramp: you can move money in from a bank rather than arriving with crypto already in hand.

One caveat about the volume figures on this page: 449 BTC of 24-hour volume is what bitFlyer reports, not an independently measured number. Reported volume and real volume are not always the same thing across the industry, which is precisely why the trust score exists. Custody is a separate question again — where the exchange holds your coins, under which jurisdiction, and what happens if it fails are not captured by any of the figures above.