Exchange Japanese Yen / JPY to Bitcoin and vice versa

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Compare your Top 3 Bitcoin Exchanges
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Provider
Pro and Contra
Has been hacked?
Fees
Security
Trading
US Friendly!
88 88
Pro
  • Low fees
  • Excellent liquidity in both USD and EUR markets
  • Margin and futures trading supported
  • Only exchange platform selected to support investigation into Mt. Gox's stolen Bitcoins
Contra
  • Sometimes has uptime problems when market gets hot
  • Verifications take time
  • No credit card deposits or withdrawals
Has been hacked? No Fees
Deposit Fees:
Yes, in some cases
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.26%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 5x
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Many Altcoins
80 80
Pro
  • Very low Fees
  • A myriad of coins to exchange with
  • No lags experienced with website
Contra
  • Does not accept bank payment methods
  • Customer support lacks phone
  • US customers are restricted
Has been hacked? Yes (on 7. May 19) Fees
Deposit Fees:
None
Withdrawal Fees:
None
Trading Fees:
0.10%
Security Ok Trading
Futures? None
Derivatives? No
Margin Trading? No
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Easy to use
76 76
Pro
  • High liquidity
  • Integrated debit and credit cards
  • Newbie friendly
Contra
  • Major violations of users privacy
  • High Trading Fees for < $50k Trading / Month
  • Segwit still not supported ( = high TX fees )
Has been hacked? No Fees
Deposit Fees:
Yes
Withdrawal Fees:
Yes
Trading Fees:
0.50%-0.05%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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84 84
Pro
  • Safe and decentralized trading
  • Arbitrators
  • 2-out-of-3 multisig security in trades
  • Wide selection of FIAT and Crypto Currencies
Contra
  • They need more aggressive advertising
  • More active development
  • They need to team up with other companies
  • High fees
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.001% - 0.009%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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High Volume
76 76
Pro
  • High USD liquidity
  • Low fees
  • Full package of order types, margin trading and lending market
  • Hack has been solved professionally and innovative
Contra
  • Not a transparent company
  • Reputation loss due to hack
  • Unclear situation with USDT (Tether)
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No, except wire transfers
Trading Fees:
0.10%-0.20%
Security Ok Trading
Futures? No
Derivatives? No
Margin Trading? up to 3.33x
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80 80
Pro
  • Easy account creation
  • No minimum deposit
  • Awesome interactive website
Contra
  • Unregulated
  • Some negative reviews
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
No
Trading Fees:
None
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? up to 100x
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90 90
Pro
  • - many coins and payment method supported
  • - fee sharing model
  • - transparency about company background
Contra
  • - reliability of service is depending on the sellers on the platform
  • - too many options to choose from can paralyze users
  • - high crypto prices
Has been hacked? No Fees
Deposit Fees:
Free
Withdrawal Fees:
Free
Trading Fees:
0.70%-1.00%
Security Medium Trading
Futures? No
Derivatives? No
Margin Trading? No
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82 82
Pro
  • Low fees
  • A wide variety of payment methods and currencies accepted, at least in theory
  • Easy to join and get going
Contra
  • Mixed reviews
  • Slow customer support
  • High commissions charged (by the seller) for buying Bitcoin with uncommon methods or in non-mainstream currencies
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
0.00%-1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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Supports PayPal
78 78
Pro
  • Easy to get verified ( 2 factor authentication)
  • Accepts Credit Card and PayPal
  • 24 hr expected resolution through their help-desk
  • Referral program
Contra
  • Website is too plain (there are no charts and no transparency)
  • A good number of negative reviews about how they operate
  • Was hacked
Has been hacked? Yes, around January 2017 Fees
Deposit Fees:
No
Withdrawal Fees:
Yes
Trading Fees:
0.00%-0.10%
Security Good Trading
Futures? No
Derivatives? No
Margin Trading? No
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Easy & Private
64 64
Pro
  • Private and fast
  • Easy to Use
Contra
  • Need to keep an eye for scams
  • Not suitable for large buyers
  • Now ID verification is required
Has been hacked? Yes Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
1.00%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • “Real” Decentralized Exchange
  • Anonymous
  • Account creation is fast and very easy (not required to complete KYC/AML)
  • Accepts Fiat payments
Contra
  • In Business only since 2016
Has been hacked? No Fees
Deposit Fees:
No
Withdrawal Fees:
No
Trading Fees:
Yes
Security Excellent Trading
Futures? None
Derivatives? No
Margin Trading? None
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68 68
Pro
  • Easy account creation
  • Online and Offline payment options
  • Easy to operate platform
Contra
  • Fees are high (3-11.9%)
  • No leveraged trading
  • No App
Has been hacked? No Fees
Deposit Fees:
N/A
Withdrawal Fees:
N/A
Trading Fees:
0.25%-8.75%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
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80 80
Pro
  • Wire Transfer available
  • Easy to use trading platform
  • Margin Trade and Futures available
Contra
  • Credit Card transactions are strictly for Japan at the moment
  • Limited number of coins
Has been hacked? No Fees
Deposit Fees:
324 JPY
Withdrawal Fees:
0.0004 BTC
Trading Fees:
0.20%
Security Good Trading
Futures? Yes
Derivatives? No
Margin Trading? up to 100x
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Pro
  • Easy account creation
  • BTC oriented exchange
  • Anonymous trading
Contra
  • Only accepts BTC payments
  • Exchange rates are very expensive
Has been hacked? No Fees
Deposit Fees:
None
Withdrawal Fees:
0.0001 BTC
Trading Fees:
0.4% up to 0.6%
Security Excellent Trading
Futures? No
Derivatives? No
Margin Trading? No
Visit Website
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Best JPY / Bitcoin Exchanges

Brief History of JPY/BTC trading pair

Bitcoin has a controversial history on the Japanese market. One of the first bitcoin exchange in the world has been launched in Tokyo. Mt Gox has been funded in July 2010 and quickly became one biggest exchange in the world in the next 3 years. By 2014 it was handling 70% of the bitcoin transactions worldwide. However in February 2014 Mt. Gox suspended its trading activity and closed the exchange file filing for bankruptcy protection. Around 850000 bitcoin went missing which worth 450 million USD at that time which was the first bankruptcy case in the history of bitcoin exchanges.

JPY/BTC tradingBecause of the past, the JPY/BTC trading had been a roller coaster in the past years. The trading volume sharply decreased after the scandal then just slowly started to increase in the past 2 years. However in 2016 due to the supportive measures from the government, Japan because of the leading bitcoin market in the world. The JPY denominated bitcoin market has a daily trading volume of 41000 BTC per day. This contributes to 9-10% of the total global trading activity.

JPY – the Japanese yen is the official currency of Japan. On the forex markets it is the third most traded asset after USD and EUR. Japan has a long history of overall low inflation rates, the inflation has been 0.3% at January 2017.

Exchange JPY to Bitcoin

Exchange JPY to bitcoinAfter the expensive lesson learned from Mt. Gox, cryptocurrency exchanges had to re-educate customers to build up the trust again regarding bitcoin. During this exercise, BitFlyer managed to gain significant market share which made them basically the only one participant on the JPY domestic bitcoin market.

Besides BitFlyer, you can also purchase bitcoin for JPY on Kraken. Kraken has been pointed as a bankruptcy trustee to assist in processing the claims of the 100k+ creditors of Mt.Gox exchange.

JPY/BTC Country Specific Regulation: Bitcoin in Japan

Japan has always been in the middle of the blockchain technology development in the past couple of years. Mt.Gox, the world first and largest bitcoin trading platform has been registered in Japan and was trading JPY/BTC trading pairs as well until its closure in the beginning of 2014.

Trade Japanese Yen against bitcoinOn 7 March 2014, the Japanese government, in response to a series of questions raised, made a cabinet decision on the legal treatment of bitcoins in the form of answers to the questions. Based on those answers, bitcoin was not seen as a currency nor a bond under the  Banking Act and Financial Instruments and Exchange Law. Therefore the decision was made that bitcoin is not prohibiting banks and securities companies from dealing in bitcoins. The decision also acknowledges that there are no laws to unconditionally prohibit individuals or legal entities from receiving bitcoins in exchange for goods or services. Taxes may be applicable to bitcoins.

According to Nikkei Asian Review, in February 2016, “Japanese financial regulators have proposed handling virtual currencies as methods of payment equivalent to conventional currencies”. Finally, in 2017, the country’s government officially recognized bitcoin as a method of payment.

The city of Hirosaki is officially accepting bitcoin donations with the goal of attracting international tourists and financing local projects.

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