The best exchanges to buy stablecoins in Japan
In the crypto industry, stablecoins are known as a key innovation that bridges the gap between the digital world and traditional financial systems. They are a type of digital asset designed to have a stable value that’s pegged to a fiat currency like the US Dollar.
Many investors prefer to invest in stablecoin because it's not entirely affected by the volatility that often comes with coins such as Bitcoin. However, to effectively invest and buy stablecoins, you need to find the best stablecoin exchange.
To help you narrow down your list, here’s a guide on how to find a good Japan crypto exchange and the best ones you should consider:
How to choose a stablecoin exchange
Wondering where to buy stablecoins? A reliable Japanese crypto exchange is the best place to be. However, with the variety of exchanges to choose from, finding one that suits your needs can be overwhelming. To help you out, here are some crucial factors you need to consider when choosing a stablecoin Japan exchange:
Reputation → One of the most important factors of a reliable and virtual currency exchange recommended is its reputation within the crypto community. To find one that has a good reputation and is trusted by many crypto investors, read reviews, feedback, and news articles.
Security measures → When making your comparison of stablecoin exchanges, keep in mind that security should be a top priority. Check if the exchange implements robust security measures such as two-factor authentication (2FA), encryption protocols, and cold storage for funds. Only choose the ones that have not experienced any major security breaches in the past.
Regulatory compliance → Japan’s new stablecoin regulations will affect not only the assets but the available exchanges that support it as well. This can help protect your rights and provide recourse in case of any issues. Only consider crypto asset exchanges that are regulated and licensed.
Supported stablecoins → The best exchanges support a variety of stablecoins. To buy, sell, and trade stablecoins with ease, verify that the exchange you're considering supports the stablecoin you intend to trade or hold. Popular stablecoins that renowned exchanges support include Tether (USDT), USD Coin (USDC), and Dai (DAI).
Recommended cryptocurrency exchanges for buying stablecoins
Looking for a stablecoin exchange recommended by experts? To help you have a good comparison of stablecoin exchanges and find the best ones that offer the utmost security and support a wide range of coins, here’s a crypto exchanges list that you need to check out:
bitFlyer is a popular crypto exchange founded in 2014. It is registered with the Financial Services Agency (FSA) in Japan and has obtained licences to operate as a virtual currency exchange in Japan, the United States, and Europe.
At first, bitFlyer was focused on providing Bitcoin (BTC) trading services, but it has expanded to support other coins such as Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). As one of the top stable virtual currency exchange recommended, bitFlyer allows traders and investors to buy, sell, and trade coins with ease.
bitFlyer isn’t topping the comparison of stablecoin accounts for nothing, as the platform boasts trading tools and features such as spot, margin, and futures trading. You can easily access the platform through a web interface and iOS and Android devices.
Aside from its exchange services, bitFlyer also offers a proprietary trading platform called bitFlyer Lightning, designed for more advanced and frequent traders. The Lightning platform provides real-time market data, advanced charting tools, and various order types to cater to the needs of professional traders.
Bitget is one of the largest crypto exchanges in the world that provides a wide range of services for buying and trading digital assets. One of the top features of Bitget is that it allows users to engage in spot trading.
With this, you can buy and sell coins at current market prices. Bitget also provides perpetual contracts similar to futures contracts without an expiration date. This allows you to hold positions for an extended period and potentially profit from both rising and falling markets.
Liquid is one of the well-known stablecoin exchanges founded in 2014 and is operated by Quoine Pte. Ltd. As the name suggests, this exchange is focused on providing liquidity. The platform aims to offer deep order books and competitive spreads to ensure traders can execute trades with minimal slippage and obtain fair prices.
It also has features like margin trading and lending, allowing you to leverage your market positions and potentially enhance your trading strategies. Apart from its exchange services, Liquid offers an initial exchange offering (IEO) platform called Liquid Launchpad.
With this feature, selected projects can conduct token sales. It also provides a crypto lending platform called Liquid Earn, where you can lend your idle assets and earn interest.
GMO Coin is one of the exchanges that top virtual currency exchange rankings due to its wide range of services, including internet infrastructure, online advertising, and various financial tech solutions.
It was launched in 2017 and operated by GMO Internet Group. GMO Coin allows margin trading and borrowing funds to amplify your trading positions. The platform also has a lending service where you can lend your coins to margin traders and earn interest. This allows you to generate passive income from your idle crypto assets.
Coincheck is one of Japan's largest and most well-known exchanges, providing over-the-counter (OTC) trading services. This caters to high-volume traders and institutional investors who prefer to execute large trades outside of the regular exchange order books.
The platform also offers crypto wallet services, allowing you to securely store your digital assets. Coincheck supports both hot and cold storage solutions to enhance security and protect user funds.
When it comes to stablecoin fees comparison, Coincheck also boasts one of the lowest transaction fees. It has also integrated crypto payment solutions that allow businesses to accept digital currencies as a form of payment.
How to open a stablecoin exchange account
Once you have found the best exchange from a good stablecoin wallet recommendation ranking, it’s time to create an account. You can do this in just a few simple steps. To get started, follow these general steps:
Choose an exchange → For hassle-free account registration, choose an exchange that’s easy to use.
Register an account → Click on the sign-up button to begin your account creation process. Most exchanges ask you to provide the following info:
Email address: Provide a valid email address which can be used for account verification.
Password: Create a strong password that meets the exchange's requirements. It's best to use a strong and unique password for the utmost security of your account.
Other info: Depending on the exchange's know-your-customer (KYC) and anti-money laundering (AML) policies, you may need to provide other info, such as your full name and date of birth.
Complete the verification process → Some exchanges require you to undergo a verification process to comply with regulatory requirements. This sometimes involves submitting documents such as a passport or driver’s licence.
Set up 2FA → Don’t forget to enable two-factor authentication (2FA) for added security. This often involves linking your exchange account to a 2FA app, such as Google Authenticator, which generates a temporary code for logging in.
Fund your account → Once your account is set up and verified, you'll need to deposit funds to start trading stablecoins.
Popular stablecoins to buy
Stablecoins have always been a popular choice for crypto investors looking for a stable alternative to volatile coins. With the different types of stablecoins available, choosing the best one to invest in can be overwhelming. To help you narrow your choices, here’s a list of the best stablecoins to buy:
Tether (USDT) → USDT is one of the most widely used stablecoins in the crypto market. It is pegged to the value of the US dollar. USDT has a large market cap and is supported by various exchanges, making it accessible to all types of users.
USD Coin (USDC) → USDC is another popular stablecoin pegged to the US dollar on a 1:1 basis. It is regulated and audited to provide you with increased transparency and trust. The coin has gained adoption across various platforms and has a growing ecosystem, making it easy to use.
Dai (DAI) → DAI is a decentralised stablecoin built on the ETH blockchain. Unlike other stablecoins backed by reserves or centralised entities, DAI achieves stability through smart contracts and collateralised debt positions (CDPs).
Binance USD (BUSD) → BUSD is a stablecoin issued by Binance, one of the largest crypto exchanges. It is backed by reserves of US dollars held in a bank account, providing you with a regulated and audited stablecoin option. BUSD is available on the Binance exchange and can be used for trading within the Binance ecosystem.
FAQs about stablecoin exchanges
Looking for more info on stablecoin exchanges? Learn more with these frequently asked questions:
What is a stablecoin exchange?
A stablecoin exchange is a crypto exchange that specialises in trading stablecoins.
What exchange for stablecoins?
Many crypto exchanges support stablecoin trading. This includes Binance, Coinbase, and Kraken.
What exchange has the best interest on stablecoins?
The interest rates of stablecoins can vary over time based on market conditions. However, one of the best exchanges known to have a good interest rate on stablecoins is BlockFi.
What are the fees for stablecoins?
Transaction fees for stablecoins are often a percentage of the total transaction amount. However, they still vary depending on the platform or exchange you are using.
If you want to buy, sell, trade, and experience hassle-free stablecoin betting, it’s important to find the best stablecoin exchange that offers all the services you need. Once you find the best one, stick to it and maximise its features and services to the fullest.
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