Best Crypto Exchange in Japan: 7 Most Popular Picks in 2024 (2024)

Cryptocurrency trading is surging in popularity worldwide, and Japan is a noteworthy player in this digital revolution. In fact, Japan contributes a lot to high trading volumes on many exchanges, including Binance, BYDFi, and Bitfinex. Finding the best crypto exchange in Japan is, therefore, a priority for many.

Just like most other countries, Japan has implemented specific regulations to govern cryptocurrency exchanges. To operate legally, these platforms must comply with Japan's Financial Services Agency (FSA) guidelines, ensuring a certain level of security and legitimacy in the market.

So, which platform stands out as the best crypto exchange in Japan? Where and how to buy crypto in Japan? Find answers to these and many more questions while exploring the following "Best crypto exchange in Japan" list:

• Binance Japan
• BYDFi
• Bitfinex
• Coinmama
• bitFlyer
• Bitstamp
• Coincheck

Without further ado, let’s get to it.

Since its founding in China in 2017, Binance swiftly gained global prominence, amassing over 180 million users. In 2022, Binance acquired the Sakura Exchange BitCoin (SEBC), a Japanese-registered crypto exchange service provider. However, it later terminated SEBC's services and introduced Binance Japan in June 2023, making it one of the best crypto exchanges in Japan.

Taking pride in its compliance, Binance Japan crypto exchange stands as one of the rare exchanges fully adhering to Japanese regulations. This strict adherence ensures Japanese investors can trade with peace of mind, confident in the platform's reliability.

Binance Japan's platform showcases its commitment to offering a diverse trading experience, proving that it is one of the top crypto exchange in Japan. Users can dive into spot trading with a roster of 47 tokens. Besides, it offers the “Buy Crypto” option, which allows purchasing crypto quickly with JPY via a credit or debit card.

Besides, traders can deposit and withdraw JPY via direct bank transfers.

Apart from spot trading, the platform also provides avenues for passive income. "Simple Earn" allows users to gain daily rewards on deposits, while "Auto-Invest" automates crypto investments based on user settings.

Though, that's not it, Binance Japan offers an array of other great features. At the forefront is the Binance Academy. For the curious, the academy serves as an educational hub. It provides insights into cryptocurrency and blockchain intricacies and guides users on how to buy crypto in Japan and other topics.

Another notable feature is the Binance Research, where you can find extensive reports that provide a detailed view of the prevailing market trends.

Then there's also the Binance Launchpad. It serves as a gateway for crypto enthusiasts to explore and invest in emerging projects before public listings. This enables them to acquire tokens at a lower cost and potentially enjoy greater profits as the token value ascends.

Moreover, the Binance NFT Marketplace is another great feature that allows crypto enthusiasts to plunge into the NFT universe. Whether you aim to buy or sell, this platform is tailored to both.

Furthermore, the innovation continues with the Binance Trading Bots. These bots are automated tools tailored for today's traders. They assure accurate buy or sell actions at the right moments, based on your price preference.

In addition to Binance Japan's tools, there's another pillar to their success – security. Employing top-tier measures, the platform guarantees a fortified trading environment. Its unwavering emphasis on safety complements its broad trading options, high liquidity, and competitive fee structure.

Diving deeper into its fee system, Binance Japan appeals to many traders with maker and taker fees starting at 0.1%. Yet, it becomes even more enticing when users choose to pay with Binance Coin (BNB), as it decreases the fees by 25%. You can also decrease the fees by increasing your trading volume and/orBNB holdings.

Overall, Binance's expedition into being one of the best crypto exchanges in Japan's market is not just another expansion; it's a testament to its dedication to molding a future where Japan's crypto enthusiasts feel right at home. As they eloquently put it, it's about growing the Binancian community and embracing Web3 early adopters.

Established in 2020, BYDFi (previously BitYard) has expanded from Singapore to the global market in 2023, including Japan. This growth isn't accidental. With its myriad features, low fees and enhanced security, BYDFi stands out as one of the best crypto exchanges in Japan.

For traders in Japan, opting for BYDFi means embracing low costs and high liquidity. Traders can transact without worrying about the liquidity drying up, ensuring their trades are swift and efficient.

BYDFi's innovative streak shines through in its trading offerings. Zero-fee spot trading for certain cryptocurrencies, competitive rates for margin trading, and features like stop-loss orders make BYDFi stand out among its competitors. Plus, there's the added bonus ofa referral program, rewarding users for their loyalty and advocacy.

BYDFi's trading features cater to both beginners and experts. The platform offers a choice between classic and advanced interfaces, ideal for spot trading or more intricate Contracts For Differences (CFDs). It also incentivizes proactive behavior – complete tasks like KYC setup or referrals, and earn rewards.

On the security front, BYDFi shines. Assets are stored in cold storage, while regular audits ensure system robustness. The platform's adherence to international standards further elevates trust. While setting up an account is straightforward, with just an email or mobile number, for withdrawals, especially fiat-based, it requires KYC authentication.

Cryptocurrency choices? BYDFi doesn’t disappoint. Over 150 cryptocurrencies, including market stalwarts like Bitcoin and Ethereum, are available, reinforcing its position as one of the best crypto exchanges in Japan. This broad palette ensures traders have ample choices for their investment strategies.

Yet, no platform is without its shortfalls. As of writing,BYDFi lacks the usual earning features like crypto staking, which might deter those looking for passive earning opportunities. Plus, newcomers might also find the educational resources a tad lacking. It's crucial to weigh these against the platform's benefits.

Looking ahead, BYDFi has room for growth. Introducing crypto staking, expanding its crypto offerings, enriching its educational content, and bolstering customer support are avenues it could explore and doing so, it would rank even higher as one of the top crypto exchanges in Japan.

Despite its relatively recent entry into the global market, BYDFi has made a mark in several Japanese crypto exchange lists (even though it's not a Japan cryptocurrency exchange per se).

Bitfinex stands out as a favored cryptocurrency exchange Japanese traders can access. Boasting features such as spot trading, margin trading, derivatives trading, and staking, the platform offers an impressive spectrum of services for both novice and seasoned traders. Hence, it is often referred to as one of the best crypto exchanges in Japan.

The exchange is celebrated for its high liquidity. With a vast pool of buyers and sellers, trading large volumes becomes seamless, and concerns about slippage diminish. The tight spreads, reflecting a minuscule difference between bid and ask prices, further save traders from hefty fees.

Advanced traders favor Bitfinex for its sophisticated features like margin and derivatives trading, which amplify profits and anticipate future prices. The platform also offers staking, enabling passive income through holding cryptocurrencies. These tools make it a go-to for capitalizing on market fluctuations.

When it comes to fees, Bitfinex offers an attractive proposition. With most trades incurring a mere0.1% to 0.2% fee, it's a cost-effective choice. Additionally, holdingLEO tokenscan provide traders with discounts.

Besides, Japanese users can trade with peace of mind, knowing that Bitfinex adheres to the stringent financial regulations of their country. This underscores the platform's commitment to ensuring the safety and security of its user funds, leading the pack alongside the best Japanese crypto exchanges.

Also, note that Bitfinex employs industry-standard security protocols such as two-factor authentication, advanced APIs, and cold storage for assets. However, a few security breachesin the pasttarnish its otherwise sterling reputation.

Nevertheless, with its suite of features and low fees, Bitfinex is undoubtedly a compelling option for traders who are searching for a top crypto exchange in Japan.

Coinmama is a renowned cryptocurrency exchange that originates from Israel but has established a strong presence worldwide, including in Japan. While many debate about the best crypto exchange in Japan, Coinmama offers users a seamless way to buy and sell crypto using the Japanese yen and other fiat currencies.

Many users are attracted to Coinmama's simplicity. Its interface is designed for ease of use, catering to both novices and experts. The process of buying crypto on Coinmama is very easy. Users simply need to input their spending amount, select a payment method, and provide their cryptocurrency wallet address. Payment methods vary based on location.

High liquidity is another attractive feature of Coinmama. With an abundance of buyers and sellers, trading is efficient, ensuring that users get competitive prices. Plus, Coinmama boasts swift transaction processing, a boon for those wanting to capitalize on quick market shifts.

Coinmama offers a smaller selection of cryptocurrency offerings than its competitors, but it still lists industry leaders like Bitcoin or Ethereum, and many other popular assets.

Now, talking about fees, Coinmama is a bit pricier than most. It charges service, network, and payment processing fees. The overall amount is calculated once you fill in your purchase. However, credit / debit card payment processing fees usually range around 3.24-3.34%.

Though, you can reduce fees by increasing your tier in the Coinmama loyalty program. To do that, you just need to buy more. For example, if you spend at least $5,000, you'll become a Crypto Enthusiast and get up to a 10% discount on fees.

It's also worth noting that, apart from a swap, Coinmama lacks additional features, such as spot trading or earning tools, but it plans to introduce them in the future.

Also, a minor drawback for some might be the absence of a native wallet feature. This requires users to set up an external wallet before making a purchase. However, it's actually a good thing, as it's always better to store your crypto on an external wallet, especially a hardware one like Ledger Nano X.

All in all, Coinmama is ideal for those seeking one of the best cryptocurrency exchanges in Japan for simple and quick crypto purchasing using the Japanese yen. However, potential users must weigh its benefits against its higher fees and limited offerings.

bitFlyer, founded in Tokyo in 2014, stands out as one of the best crypto exchanges in Japan (or, to be more precise, the best Japanese crypto exchanges). However, what truly sets bitFlyer apart?

For one, it offers high liquidity for seamless trades, minimizing slippage for big traders. Also, bitFlyer Lightning, an advanced exchange for Bitcoin spot and FX trading, further diversified its offerings.

Moreover, bitFlyer prioritizes security in the volatile crypto landscape. Affiliated with the Japan Blockchain Association and using advanced encryption, it underscores its safety commitment. It also stores 100% of users' crypto offline in cold storage, which further minimizes hacking risks.

On top of that, it's licensed in Japan, Europe, and the US. Therefore, while it is one of the best Japanese crypto exchanges, it caters to a global audience, too.

When it comes to fees, crypto and fiat deposits are free, while withdrawal fees differ based on the asset in question. For example, the Bitcoin withdrawal fee is 0.0004 BTC, while Stellar withdrawals incur no fees.

However, one of the standout features regarding fees is that bitFlyer claims to charge zero fees for buying and selling crypto. Unless you want to use bitFlyer Lightning, where spot trading fees start at 0.1% and can go down to 0.03% with increased trading volume. These fees, by the way, can also be considered pretty competitive.

Though, do note that coin offerings on bitFlyer are selective, focusing on a few major ones like Bitcoin, Ethereum, and Litecoin. This might not cater to those looking to diversify into less popular altcoins.

All in all, with its competitive fees and strong security measures bitFlyer reserves its spot on many best Japanese crypto exchange lists. Yet, like with any platform, it's essential to weigh its benefits against its limitations.

Bitstamp has firmly established its foothold as one of the best crypto exchanges in Japan. Renowned for its reliability, this exchange has catered to a multitude of traders over the years. Its decade-long journey showcases resilience amidst the unpredictable crypto ecosystem, making it a prime choice for many in Japan.

Experience and trustworthiness make Bitstamp shine. As one of the oldest active exchanges, it garners respect and confidence from its users. Japanese traders, in particular, appreciate its ability to weather market challenges, seeing it as a bulwark against the ebb and flow of crypto trends.

Liquidity is a pivotal factor for any exchange, and Bitstamp boasts high liquidity. This ensures that buyers and sellers are always available, facilitating trades without the concern of fluctuations. Coupled with competitive fees, it stands as a cost-effective trading platform. Yet, users must remain vigilant about additional charges.

Bitstamp places a high priority on security. Although it suffered from a hack in 2015, it has strengthened its security measures significantly since then, ensuring most assets are offline and insured against certain risks.

Moreover, it's worth noting that Bitstamp prioritizes user experience with a simple interface for all traders. Educational resources are at your disposal to provide guidance, too, simplifying the process of understanding how to buy crypto in Japan. Besides, the platform offers phone support, underscoring its customer service commitment.

When it comes to the features, it offers a fiat-crypto exchange for institutional traders, staking and lending options for earning, and the Bitstamp Pro trading interface built for experienced traders.

In terms of supported crypto, Bitstamp has a decent selection that includes Bitcoin, Ethereum, XRP, Cardano, and Solana, among others. However, as we analyze various Japanese crypto exchange lists, we can see that it does not have the most extensive selection.

Nevertheless, with its user-focused approach and its position as a reliable platform in the ever-evolving crypto realm, Bitstamp is perceived as one of the best crypto exchanges in Japan.

Established in Tokyo in 2012, Coincheck has solidified its position as one of the best crypto exchanges in Japan. This platform mostly caters to Japanese residents, narrowing its global reach.

Boasting a suite of features, Coincheck is a decent choice for both novice and experienced traders. Its user-friendly interface makes buying and selling crypto a breeze, with seamless integration of fiat currencies like the Japanese yen.

When it comes to the said features, Coincheck offers spot trading, over-the-counter (OTC) trading, lending, a pioneering NFT marketplace in Japan, and even features like Coincheck Denki, which allows you to pay your electrical bills with BTC (and get cashback in return).

Talking about crypto, it does support the most popular cryptocurrencies, such as Bitcoin, Ethereum, and Ripple, but it does not offer the widest selection.

One of Coincheck's standout features is its high liquidity, which facilitates swift and efficient transactions. This liquidity ensures that traders have access to a large pool of potential trade partners, making it easy to execute orders at fair market prices. Additionally, Coincheck's rapid transaction processing enables traders to capitalize on fleeting market opportunities with minimal delay.

Coincheck trading fee structure is pretty interesting compared to other exhcnages. Its fees are based on the maker / taker model, but there are also Itayose trading fees, and they all depend on the asset in question. The good news is that many assets, like BTC, don't impose any trading fees.

By the way, trading fees for Itayose orders are consistently applied to transactions executed using the Itayose method, which becomes operational during temporary trading suspensions and resumptions.

There is also the marketplace fee, which ranges from 0.1% to 5%. As for deposits and withdrawals, the fees differ based on the method and the asset you use. For example, JPY bank transfers are free. Overall, you should check out the full fee structure on their website, as it is rather complex.

Lastly, it's essential to note that Coincheck's reputation was tarnished by a high-profile security breach in 2018, where hackers absconded with over $500 million worth of cryptocurrency. Since then, however, the platform has implemented robust security measures to safeguard user funds. Despite these efforts, some users may still harbor reservations about the platform's security posture.

Nevertheless, Coincheck remains one of the best Japanese crypto exchanges, thanks to its user-friendly interface, unique features, and competitive fees. While it may not offer the widest selection of altcoins, its focus on major cryptocurrencies and the Japanese market has solidified its position among Japanese traders.

Japanese Crypto Regulations

In recent years, Japan has emerged as a significant player in the global cryptocurrency arena. Acknowledging the potential of this technology, the nation rapidly adopted an accommodating stance^[1], paving the way for the rise of the best crypto exchanges in Japan.

Two key laws govern the landscape of Japan crypto regulations: the Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA).

Under the PSA, crypto exchanges are required to register with the Financial Services Agency (FSA) to operate legally. The PSA also encompasses regulations surrounding Initial Coin Offerings (ICOs) and crypto derivatives transactions.

The FIEA governs security token offerings (STOs) and certain types of tokens that are classified as securities. This includes regulations for collective investment scheme interests (CISIs) under the FIEA, which are deemed securities subject to registration requirements and disclosure obligations.

Regulator-wise, apart from the FSA, which is the main regulator of Japan cryptocurrency exchanges, there is also the Japan Virtual Currency Exchange Association (JVCEA) and the Japan Security Token Offering Association (JSTOA).

Moreover, anti-money laundering (AML) measures are an essential component of Japan crypto regulation framework. Crypto exchangesare obligated to implement robust AML procedures, including customer identification and transaction monitoring, to prevent illicit activities such as money laundering and terrorist financing.

While we're on the topic of AML, it's also worth noting that, as of June 2023, crypto exchanges must adhere to the Financial Action Task Force’s (FATF) "Travel Rule", which mandates the collection and transmission of information about crypto transfers to combat money laundering and terrorist financing.

Now, even though there's a never-ending debate regarding how crypto should be taxed,^[2] from the perspective of Japan crypto taxation, profits generated from trading cryptocurrencies are treated as miscellaneous income and are subject to progressive tax rates, ranging from 5% to 45%.

Additionally, a 10% tax is levied by local governments as inhabitant tax on crypto trading profits. Losses incurred from cryptocurrency trading can be offset against profits, providing some tax relief for traders.

On the corporate taxation front, there are specific provisions that may exempt certain cryptocurrencies held by corporations from year-end taxation if they meet certain conditions, such as being continuously held since issuance and subject to market valuation.

Moreover, the Foreign Exchange and Foreign Trade Act requires reporting for transactions exceeding 30 million JPY, whether in fiat currencies or cryptocurrencies. However, cryptocurrency holdings are not required to be declared when passing through Japanese Customs.

All in all, Japan crypto regulation and taxation framework aims to balance innovation and investor protection, providing a clear legal framework for crypto businesses while ensuring compliance with AML regulations and taxation requirements. However, challenges remain, particularly in areas such as inheritance planning and cross-border transactions, where further improvements and international cooperation may be needed.

Best Crypto Exchange in Japan: Evaluation Criteria

If you didn't find the ideal platform for you in the "Best crypto exchanges in Japan" list provided above, here are some criteria that you should take into account while exploring other Japan crypto exchanges:

• JPY Support. Japanese yen (JPY) compatibility is pivotal for exchanges operating in Japan. Prominent exchanges usually facilitate fiat-to-crypto trades, making JPY support highly advantageous for Japanese traders.
• Regulatory Adherence. The FSA sets strict guidelines for Japan cryptocurrency exchanges. Ensuring an exchange adheres to these regulations is crucial for a secure trading environment. Compliance with Japan's rules ensures a safer and more transparent crypto experience.
• Offered Features. Beyond basic trading, the best crypto exchanges in Japan might offer unique services. It's essential to discern what specific features an exchange provides, especially if you're seeking something other than spot trading. Just bear in mind that services might vary based on geographical location.

• Supported Cryptocurrencies. While Bitcoin, Ethereum, and other popular cryptocurrencies are common, not all exchanges list lesser-known coins. It's paramount to check if your desired crypto is tradeable. Generally, a broader crypto selection often denotes a more versatile exchange.
• User Experience and Interface. A well-designed platform enhances the trading process. It’s essential to evaluate how intuitive, user-friendly, and efficient an exchange's interface is. A straightforward and clean design can simplify complex trading maneuvers and decisions for both novices and professionals.
• Security and Protection. The protection of funds and personal data is paramount. Ensure the exchange has robust security measures, such as two-factor authentication, cold storage, and encryption protocols. Prioritizing security can reduce the risk of hacks and unauthorized access, safeguarding your investments.

With these considerations, you'll most likely find the top crypto exchange in Japan for you.

Conclusions

Navigating Japan's crypto exchange landscape reveals diverse options. Binance, BYDFi, and other prominent choices all provide unique offerings. So, finding the best crypto exchange in Japan really depends on individual preferences.

Given the volatile nature of the crypto world, staying informed on regulations and market trends is paramount. Japan's regulatory environment has tightened over the years, especially after incidents like popular crypto exchange hacks. Thus, you should regularly monitor Japan's FSA updates and other crypto news sources.

However, selecting the right exchange is merely the beginning. If you prioritize security, you should also consider getting a secure storage solution. Hardware wallets, such as Ledger Nano X, for example, offer robust protection against potential breaches, ensuring your assets remain uncompromised.

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