Top 10 Crypto Exchanges in Japan in 2023
With a population that is highly receptive to new technology, it’s no surprise that Japan has become a major player in the crypto market. In 2023, there are several notable exchanges operating in the country, each with its own strengths and weaknesses. After researching, we have compiled a list of the top 10 crypto exchanges in Japan.To get more news about https://www.wikibit.com/en/ WikiBit App, you can visit wikifx.com official website.
Japan is known for having progressive cryptocurrency regulations, with the country recognizing cryptocurrencies as legal property under the Payment Services Act (PSA). Cryptocurrencies are also considered legal tender in Japan, making it one of the biggest markets for Bitcoin worldwide. In 2018, Japan announced the establishment of a self-regulatory body for cryptocurrency exchanges Japanese Virtual Currency Exchange Association, which gathers all crypto exchanges.
However, the country has had its share of high-profile cryptocurrency hacks, including the Coincheck heist that resulted in the loss of $530 million in digital currency. As a result, the government has made it a priority to regulate exchanges, institutions, and funds involved in the cryptocurrency business. In order to prevent using cryptocurrencies to launder illegally-gained funds, the country is planning to introduce remittance rules this year.
bitFlyer is perhaps the most popular Bitcoin exchange in Japan, with 2.5 million users. It was founded in 2014 and has since become one of the largest crypto exchanges in the country. It’s a reputable cryptocurrency exchange that offers competitive fees, good security features, and reliable trading services. Being one of the largest cryptocurrency exchanges in Japan and having a significant presence in other regions as well means that bitFlyer has high liquidity, which makes it easier for users to buy and sell cryptocurrencies at competitive prices. The exchange is regulated in Japan, the United States, and Europe.
Coincheck allows buying and selling crypto with three forms of payment, starting from as little as 500 JPY (less than $4), and is known for its user-friendly interface. The Japanese cryptocurrency exchange was founded in 2012; it has since become one of the largest exchanges in the country and added an NFT marketplace. Coincheck offers free trades and doesn’t charge any type of taker or maker fee. This is a major advantage for cryptocurrency buyers in Japan, as there are not many affordable alternatives available in the country. On the downside, Coincheck has experienced security breaches in the past, leading to significant losses for users. However, it has since implemented measures to improve its security.
Binance is the largest and most popular global cryptocurrency exchange that accepts users and payments from 190 countries, including Japan. The platform has a high reputation and offers a wide range of cryptocurrencies with relatively low trading fees.
Liquid is a cryptocurrency trading platform based in Tokyo that supports 10 fiat currencies and over 100+ crypto assets. It often ranks among the top 10 exchanges in the world in terms of volume and liquidity. The exchange has a strong focus on security and offers low fees and margin trading. Liquid has a user-friendly interface that is easy to navigate, even for beginners. The platform is available in multiple languages and is accessible to users from around the world.
Bitbank is another Tokyo-based cryptocurrency exchange that allows trading in multiple cryptocurrencies and has a significant market share in Japan. Bitbank has one of the lowest trading commissions in the global crypto market, with fixed fees that are not affected by assets, trading volume, or total trading volume of users. This could make it more accessible for Japanese traders, particularly those who may not have large sums to invest.
