It’s no secret that cryptocurrencies are capturing the attention of people across the world, offering investors a chance to establish and build a portfolio and plan for the future. The popularity of crypto is most evident in technologically-driven societies, such as Japan. Curiously, the pseudonym of Bitcoin’s founder – Satoshi Nakamoto – is Japanese.
Due to the increased traction and influence of cryptocurrencies, we are witnessing a multitude of new coins, exchanges, and investment opportunities arising regularly. However, before you invest a single penny into crypto, it is essential to undertake some research to ensure that you make the best decisions to safeguard your investments.
One of the biggest decisions you’ll make is choosing what crypto wallet to opt for. As the place you store, monitor, and expand your digital assets, selecting a firm that offers you support, security, and investment options are essential. Many factors can influence what platform you choose to invest with (such as products and services offered to the user), but ultimately it comes down to which wallet will best protect your assets. Choosing the right crypto wallet to suit your needs takes time. So to help guide your choice, below is a curated list of the best crypto wallets used in Japan.
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bitFlyer: 1st Best Crypto Wallets in Japan
Japanese crypto platform bitFlyer is naturally going to be popular in their homeland. However, bitFlyer is not only valued because of its nationality, in fact, but it also offers a range of benefits for investors. Home to 2.5 million users worldwide, bitFlyer has created a product that is accessible (you can invest in 7 cryptocurrencies starting from as little as $1), flexible, and trusted.
With cutting-edge security and regulation (multi-signature Bitcoin wallets, SSL encryption, and two-factor authentication), low deposit and withdrawal fees, crafted investment tools, and polished web and mobile apps (available on iOS and Android), bitFlyer offers an excellent range of services with a focus on protecting your assets.
Coincheck: 2nd Best Crypto Wallets in Japan
We continue with another Japanese crypto firm, Coincheck, which has grown exponentially over the past decade. Formed as an exchange back in 2012, Coincheck established itself and then grew quickly. By 2016 they offered investors payment and lending services, launched the first NFT marketplace in Japan in 2021, and gained further exposure by being listed on the Nasdaq market in 2022.
As Japan’s largest Bitcoin exchange (by trading volume) and consistently ranking in the top 20 of all top spot exchanges compiled by CoinMarketCap, Coincheck is a trusted name in crypto. They build on their trusted image by offering investors cold wallet storage of digital assets and are strictly regulated by Japan’s Financial Services Association and the Japan Blockchain Association.
Furthermore, Coincheck charges have zero trading fees and low minimum purchase fees of ¥500 (approximately $3.71). It is a highly-regarded and versatile app (iOS and Android) and permits users up to 5% interest if they lend crypto with the platform.
Binance: 3rd Best Crypto Wallets in Japan
As one of the best crypto exchanges, Binance hosts many beneficial amenities for its investor base. With 370 available cryptocurrencies across the platform, it supports over 40 fiat currencies, offers low fees (the highest spot trading fee is 0.10%), and offers to earn via the Binance Earn staking program (up to 79.87% APY). Binance secures its platform with two-factor authentication, device management, and allowing users to store assets on cold wallets.
What sets Binance apart from the competitors is the comprehensive nature of its tools. Investors can take advantage of peer-to-peer, spot, and margin trading options. Binance hosts its blockchain technology and coin, BNB, which allows users to create and host blockchain projects via LaunchPad, and also offers the Binance Visa card, which gives back up to 8% cash back in BNB with every purchase.
Hodlnaut: 4th Best Crypto Wallets in Japan
Founded in 2019, Singapore-based Hodlnaut is an emerging platform that holds over $500 million in assets and offers many innovative products and services to entice customers.
Hodlnaut is user-focused and wants investors to reach their financial goals with help. Through their Hodlnaut Interest Account, they achieve this by offering one of the highest interest rates in the industry at 9.41% APY, paid out each Monday (5 pm GMT+8). There is no minimum deposit, no lock-in periods, and investors receive one free withdrawal per calendar month. Furthermore, Hodlnaut offers a token swap feature allowing investors to execute trades and manage their portfolio effortlessly through their app (iOS and Android), with zero fees on swapped supported crypto and a referral program rewarding users with 30 USDC per successful referral.
To provide peace of mind for users, Hodlnaut has partnered with a leading digital security firm, Fireblocks, to provide multi-layered security. Users can also benefit from optional insurance coverage with Nexus Mutual Cover.
CEX.io: 5th Best Crypto Wallets in Japan
Last but not least is CEX.io, a crypto platform that claims to have been the first to offer fiat-to-crypto depositing, permitting easy access to digital financial markets. This element, paired with the support of over 110 different cryptocurrencies, has seen CEX gain over 4 million users.
CEX is a digital marketplace where users can buy, sell, earn, borrow and exchange crypto. They have three specialized categories for their users – Everyone, Traders, and Business – permitting investors to access unique and beneficial features. For instance, products associated with Everyone include instant buys, earning (up to 23% staking on certain assets), crypto-backed loans, and a credit card offering up to 5% cash back on purchases.
Another bold claim is that CEX has never lost a single penny of user funds. This is in part thanks to CEX obtaining licenses to operate in 99% of the countries across the world. The diligence of this platform has seen customer trust soar, with CEX receiving 4.7 out of 5 stars on Trustpilot from over 22,000 respondents.
Despite the crypto market taking a significant downturn in 2022, ambitious investors of all ilks are sensing opportunities to invest and build their portfolios. Risk is always a considerable factor for investors, but by choosing a reputable crypto trading platform, you can help yourself make more informed and secure investing options.
Analyzing the Japanese market provides an intriguing glimpse into what facets investors in the Land of the Rising Sun value most when trading their cryptocurrencies. By noting the benefits and discrepancies above, you too can make sounder decisions on what crypto platform can serve you best.