Japan has emerged as a major hub for cryptocurrency trading and investment, with a thriving community of active traders and investors. Our detailed review outlines the 5 best crypto exchanges in Japan, assessing their features, fees, security, support, and overall user experience.
Read on to discover the premier platforms to buy, sell, and trade Bitcoin, Ethereum, and other digital assets in Japan.
Security of Crypto Exchanges in Japan
As crypto adoption surges in Japan, security has become a top priority for investors choosing a trading platform. The Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulating body, has established security guidelines for exchanges including:
- Mandatory use of cold wallets to store majority of assets
- Daily reconciliation of customer balances
- Employee training on security protocols
- Regular internal audits and third-party testing
Top exchanges like Bybit, OKX, and BitFlyer ensure robust security by adopting leading practices like multi-signature wallets, offline cold storage, and advanced encryption. However, investors must also take precautions like enabling 2FA and using strong unique passwords.
Growing Institutional Interest in Japan
Institutional participation in Japan’s crypto space is accelerating, with giants like Nomura, Daiwa, and Monex Group launching digital asset offerings. Bybit, with its advanced trading features, has emerged as a top choice for institutional investors.
Key aspects attracting institutions include:
- Advanced trading features like derivatives and margin trading
- High liquidity for large transactions -Dedicated account management and support
This rise of institutional interest validates crypto’s staying power and helps drive mainstream adoption in Japan.
Summary of 5 Best Crypto Exchanges in Japan
In Japan, experts advise opting for exchanges regulated by the Financial Services Agency (FSA) for purchasing and trading Bitcoin and other cryptocurrencies. By utilizing bank transfers, credit cards, or mobile payments to deposit Japanese Yen (JPY), individuals can legally buy, stake, and trade digital assets.
For novices embarking on their crypto ventures in Japan, we’ve assessed the top 5 trading platforms prevalent in the region:
- Bybit – Best Overall Crypto Exchange in Japan
- OKX – Best for Advanced Trading Features
- bitFlyer – Most Popular Local Exchange
- Bitbank – Fast Account Verification
- Coincheck – Wide Selection of Altcoins
Bybit
Rated as the premier crypto exchange in Japan, Bybit is known for its broad selection of assets, diverse JPY deposit options, 24/7 multilingual support, and intuitive user experience.
- 930+ cryptocurrencies and derivatives contracts available
- Maker fee of 0.01% and taker fee of 0.06%
- Free JPY deposits, low withdrawal fees
- Allowed JPY payment methods include bank transfer, debit/credit card, PayPay, Line Pay
Key Metrics
- Global rank: #2,333
- Monthly visits: 19.8 million
- Trading volume: $8 billion daily average
- Registered users: 10 million
- Supported cryptocurrencies: Over 100
- Customer service available 24/7 in Japanese and English
- Licensed and regulated internationally
OKX
Known for its advanced features and broad selection of tokens, OKX is a top choice for experienced traders in Japan.
- 300+ cryptocurrencies available for trading and staking
- Competitive 0.1% spot trading fee
- Up to 5% APY yield on stablecoins
- JPY deposit options include bank transfer, PayPal, credit/debit card
Key Metrics
- Global rank: #1,663
- Monthly visits: 30.5 million
- Daily derivatives volume: $2 billion
- Registered users: 10 million worldwide
- Supported trading pairs: 500+
- Headquarters: Hong Kong and Malta
- Japanese customer support available
bitFlyer
As Japan’s largest crypto exchange, bitFlyer is renowned for its security and simplicity, making it ideal for beginners.
- Trades 19 major cryptocurrencies including BTC, ETH, LTC
- Flat fees of 1000 JPY for deposits and withdrawals
- Spot trading fee of 0.2%
- JPY payment methods include bank transfer, card, konbini
Key Metrics
- Finance app ranking US: #4,179
- Users worldwide: 4+ million
- Active traders in Japan: 800,000+
- Total trading volume: $250 billion since 2014
- Licensed and regulated since 2017
- Japanese Blockchain Association Platinum member
- Founded: 2014
- Headquarters: Tokyo, Japan
Bitbank
Bitbank distinguishes itself as a crypto exchange by offering super-fast account verification in minutes and a wide variety of coins.
- 37 cryptocurrencies available for trading
- Deposit fees from 550 to 770 JPY
- Trading fee of 0.2%
- JPY deposits through bank transfer, Apple Pay, Google Pay
Key Metrics
- Global rank: #19,973
- Monthly visits: 3.7 million
- Supported currencies: 37
- iOS app downloads: 50,000+
- Licensed JCATA member
- Top security ranking by third party
- Founded: 2014
- Employees: 51-200
- Headquarters: Tokyo, Japan
Coincheck
With its vast altcoin offering, Coincheck is ideal for Japanese investors looking to diversify beyond Bitcoin.
- Access to over 100 cryptocurrencies
- Spot trading fees from 0.1% to 0.5%
- Zero fees for JPY deposits
- JPY payment methods include bank transfer and credit card
Key Metrics
- Global rank: #37,368
- Monthly trading volume: $200+ million
- Registered users: 1+ million
- Founded: 2014
- Acquired by Monex: 2018
- Accepts JPY deposits
- Headquarters: Tokyo, Japan
- Supported currencies: 100+
How to Purchase Cryptocurrencies in Japan
For beginners looking to invest in digital currencies in Japan, follow this step-by-step guide for safe and compliant transactions:
- Select a FSA-licensed exchange like Bybit, OKX or bitFlyer.
- Complete registration and verification processes.
- Fund your account via bank transfer or card.
- Browse and select desired crypto assets and quantities.
- Double check order details and confirm the purchase.
- Withdraw assets to a secure wallet for enhanced safety.
Legality and Regulation of Crypto in Japan
Is Crypto Legal in Japan?
Yes, cryptocurrency is legal in Japan and regulated under the Payment Services Act (PSA) since 2017. The PSA requires exchanges to register with the Financial Services Agency (FSA) as Crypto Asset Exchange Service Providers. Japan also recognizes Bitcoin and other cryptos as legal property under the Property Act.
How is Crypto Taxed in Japan?
In Japan, crypto trading profits are taxed as “miscellaneous income” at rates from 5% to 45% based on income levels. An additional 10% local inhabitant tax applies. Crypto purchases are exempt from consumption tax but it applies to lending fees and interest earned. Inheritance tax also applies to crypto holdings of deceased persons.
Conclusion
In summary, Bybit, OKX, bitFlyer, Bitbank, and Coincheck have emerged as the premier crypto exchanges in Japan for their security, altcoin variety, intuitive interfaces, diverse JPY payment methods, and adherence to local regulations.
FAQs
What are the most popular crypto exchanges in Japan?
The most popular crypto exchanges in Japan are Bybit, OKX, bitFlyer, Bitbank, and Coincheck. These platforms are well-known for their security, trading options, payment methods, and adherence to local regulations.
Which exchange has the lowest fees for buying crypto in Japan?
Of the top exchanges, Coincheck offers some of the lowest trading fees, starting from just 0.1% for takers. Bybit also has competitive fees with a maker fee of 0.01% and taker fee of 0.06%.
How do I deposit Japanese Yen to buy crypto in Japan?
You can deposit JPY to crypto exchanges using domestic bank transfers, credit/debit cards, payment apps like PayPay and Line Pay, convenience store payments, and more. Each exchange offers various JPY deposit methods.
