The best crypto exchange and trading platforms in Japan have been reviewed by our team of crypto professionals consisting of Michael, Nate, and Sofie who together have over 30 years of experience in the field of crypto technology and traditional finance.
Our team has reviewed over 30 platforms available for the Japanese market and narrowed it down to a list of the 5 best crypto exchanges in Japan.
Best Japanese crypto exchange list
| Platform | Key Features | Fee | |
| 1. BYDFi | – Top crypto trading platform | 0.02% | Visit BYDFi |
| 2. Phemex | – Best crypto app | 0.05% | Visit Phemex |
| 3. BingX | – Good for copy trading | 0.06% | Visit BingX |
| 4. Binance | – Top altcoin exchange | 0.10% | Visit Binance |
| 5. Bybit | – Options trading platform | 0.075% | Visit Bybit |
(This article is not financial advice. Research before investing. Some links are affiliate links, earning us a commission without extra cost for you. Our content remains unbiased regardless of affiliates.)
Summary
- BYDFi is the best crypto exchange and trading platform in Japan, offering an unmatched blend of low fees, high leverage options, and a user-friendly interface ideal for both beginners and experienced traders.
- Phemex and BingX follow closely, offering unique features like anonymity and innovative copy trading systems, catering to specific trader preferences.
- Our comprehensive review process, based on firsthand experience and detailed analysis, ensures that our recommendations are trustworthy and tailored to the needs of the Japanese crypto trading community.
What is the best crypto exchange and trading platform in Japan?
During the review process, our team has looked at 25 data points and over 40 platform features, and these in particular:
- Transaction costs
- Registration process
- Withdrawals
- Account security
- Deposit methods
- Trading tools
- Charting interface
- Listed cryptocurrencies
1. BYDFi – Best overall
Our rating: 5.0/5
At a glance
BYDFi, formerly known as BitYard, has emerged as the best crypto trading platform in Japan, offering a seamless experience for Japanese traders looking to trade crypto with YEN.
Launched in 2019 and rebranded in 2023, BYDFi has quickly gained traction for its advanced trading features, competitive fees, and robust security measures. Catering to both beginners and seasoned traders, BYDFi provides a user-friendly interface, making it an ideal platform for those venturing into the world of cryptocurrency trading.
Our crypto expert, Michael, conducted a test by depositing YEN 220,000 worth of Bitcoin through a Bitcoin wallet. He then traded Bitcoin in the Perpetual Swap contract with a 1:50 leverage, effectively increasing the position size. Michael strategically structured his trades, focusing on short-term price movements and utilizing a mix of technical analysis and market trends to optimize his positions.
The average trading fee was 0.03%, and with 22 trades per day, each day averaging an 11% profit, the cost of the fees was minimal compared to the gains. Over two days, Michael’s strategy yielded substantial profits, demonstrating BYDFi’s efficiency and the platform’s ability to handle high-frequency, leveraged trades.
The standout feature for Michael was BYDFi’s intuitive trading interface, which streamlined the process and provided real-time market insights.
BYDFi stands out for its simplicity and focus on core trading functionalities. Its standout feature is the copy trading option, which is particularly beneficial for beginners. This feature allows new traders to mirror the strategies of experienced traders, providing a unique learning opportunity and a safer entry into the world of crypto trading.
If you’re looking for extra support while trading, you can easily contact BYDFi’s live chat for assistance.
Pros
- Optimized for Day Trading
- High Leverage Options
- Diverse Perpetual Contracts
- Easy Fiat Deposits
- Rapid Registration
Cons
- Limited Educational Resources
- No Staking or Earning Plans
Fees
- Spot Trading: 0.1% to 0.3% per transaction.
- Crypto Conversion: 0.1% to 0.15% for cryptocurrency conversions.
- Perpetual Contracts: 0.06% for takers and 0.02% for makers.
2. Phemex – Best app
Our rating: 4.8/5
At a glance
Phemex, renowned as the best crypto app in Japan, offers Japanese traders a seamless experience in buying and trading cryptocurrencies through your mobile phone on the go. For those interested in mobile trading, we also recommend taking a look at our guide to the best apps for crypto trading for flexibility on the go.
This Singapore-based exchange, founded by a former Morgan Stanley executive, stands out for its user-friendly interface, high liquidity, and a wide array of innovative features. It’s the go-to platform for those seeking anonymity and efficiency in their crypto transactions.
Our crypto expert, Nate, conducted a thorough test of Phemex by depositing YEN 200,000 worth of Bitcoin. He strategically invested the same amount in six different altcoins: Solana, Kaspa, Cronos, Filecoin, Immutable, and VeChain.
With an average trading fee of just 0.05%, the cost-effectiveness of Phemex became evident. Over two days, these altcoins saw an increase ranging from 11% to 22%. The total profit, after accounting for the minimal trading fees, was impressive, highlighting Phemex’s efficiency and profitability for diverse crypto investments.
The standout feature for Nate was the platform’s seamless integration and user-friendly interface, which significantly enhanced the trading experience.
Phemex stands out for its unique blend of centralized and decentralized features. It offers the convenience of a traditional exchange while incorporating elements of DeFi, like DAO governance and an identity NFT.
This hybrid approach is not commonly seen in other exchanges, making Phemex a compelling choice for those who appreciate the security of DeFi with the ease of use of a centralized platform. For those concerned about security, consider checking out our article on the most secure crypto platforms to protect your assets.
Pros
- Contract app Trading
- High Leverage Options
- Diverse Altcoin Portfolio
- Advanced Trading Tools
- Investment and Earning Opportunities
Cons
- Complex Fee Structure
- Withdrawal Fees
- KYC for Certain Transactions
Fees
| Fee Type | Amount |
| Spot Market Maker & Taker | 0.1% |
| Contract Market Maker | 0.01% |
| Contract Market Taker | 0.06% |
| Withdrawal Fee | Varies per coin |
3. BingX – Good alternative
Our rating: 4.7/5
At a glance
BingX, established in 2018 in Singapore, has rapidly become a global player in the cryptocurrency exchange market. It’s recognized as the best alternative crypto exchange in Japan, offering Japanese traders a comprehensive platform to buy and trade crypto with YEN.
BingX stands out with its user-friendly interface, diverse trading options, and robust security measures. It supports over 350 cryptocurrencies and provides various trading services like spot, derivatives, copy, and grid trading, catering to both novice and experienced traders.
Our crypto expert, Sofie, conducted a test by depositing YEN 130,000 using a debit card from a crypto-friendly Japanese bank. She engaged in copy trading the top three traders on BingX – Silver Bay, Tabary, and TradeSoEasy – in perpetual swap contracts with leverage, at an average trading fee of 0.05%.
If you’re expanding your trading activity across different regions, you might find our reviews of the Mexican crypto trading platform or the best Malaysian crypto trading platform insightful.
Sofie strategically structured the trades to maximize profits while minimizing risks. After 45 copy trades, the cost of the fees was minimal compared to the profit earned. The standout feature was the platform’s user-friendly interface and efficient copy trading system.
BingX’s standout feature is its innovative copy trading system. It allows beginners to effortlessly mimic the strategies of experienced traders, bridging the gap between novice and expert trading. This unique blend of social and trading platforms is not commonly found in other exchanges, making BingX a compelling choice for our blog post.
Pros
- Wide Cryptocurrency Range
- Risk-Free Demo Trading
- Automated Grid Trading
- Extensive Copy Trading Options
- High Leverage Opportunities
Cons
- Complex for Beginners
- Limited Fiat Transactions
- Geographical Limitations
- External Payment Provider Fees
- Fluctuating Withdrawal Fees
Fees
- Spot Trading Fees: 0.1% for major cryptocurrencies like BTC and ETH.
- Futures Trading Fees: Maker fee of 0.045% and taker fee of 0.075%.
- Withdrawal Fees: Varies depending on the cryptocurrency, e.g., 0.0002 BTC for Bitcoin.
- Deposit Fees: Free for all supported cryptocurrencies.
4. Binance – Most altcoins listed
Our rating: 4.6/5
At a glance
Binance, a global powerhouse in the crypto exchange sphere, has established itself as the best platform for altcoin trading in Japan. Renowned for its extensive range of over 500 cryptocurrencies, Binance caters to a diverse trading community.
For traders in Europe, we also suggest taking a look at the best crypto trading platform in Ireland or the best Swedish crypto trading platform for localized alternatives.
It’s not just the quantity of available cryptocurrencies that makes Binance stand out, but also its user-friendly interface, making it accessible for both beginners and seasoned traders. For Japanese traders looking to engage in altcoin transactions with YEN, Binance emerges as the best altcoin trading platform in Japan, offering a seamless and efficient trading experience.
Our crypto expert, Nate, embarked on a practical test of Binance by depositing YEN 150,000 using a debit card from a crypto-friendly Japanese bank. He strategically traded popular altcoins like PepeCoin, Polygon, Polkadot, and Shiba Inu in the futures trading pit, leveraging his investment 1:25.
With an average trading fee of just 0.1%, Nate’s approach was methodical, focusing on short-term gains through quick trades. After 38 trades, the cost of fees amounted to a minimal fraction of the investment, while the profit margin was notably impressive.
The standout feature for Nate was Binance’s intuitive trading interface, which simplified the entire process, making it efficient and user-friendly.
Binance stands out for its innovative approach to crypto trading. It’s not just the range of cryptocurrencies or the low fees that impress us; it’s their commitment to staying ahead of the curve in a rapidly evolving market.
Binance continuously update and improve their platform, ensuring it remains user-friendly while incorporating the latest technological advancements. This forward-thinking approach makes Binance a leader in the crypto exchange space and a top choice for our blog post.
Pros
- Extensive Cryptocurrency Selection
- Competitive Fees
- User-Friendly Interface
- High Security Standards
- Global Accessibility
Cons
- Complex for Beginners
- Customer Support Delays: Some users report slow response times.
- Fiat Currency Limitations: Initially, no direct fiat currency deposits or withdrawals.
- Regulatory Challenges: Has faced suspensions and restrictions in some countries.
- Withdrawal Fees: Variable withdrawal fees depending on the cryptocurrency.
Fees
- Spot Trading Fees: Start at 0.1%.
- Futures Trading Fees: Start at 0.02% / 0.04% for VIP level 0 maker and taker orders.
- Withdrawal Fees: Depends on the cryptocurrency; aligned with blockchain transaction fees.
- Deposit Fees: Free, except for blockchain fees.
- Discounts: Additional discounts for using Binance Coin (BNB) for transaction fees.
5. Bybit – Best for derivatives and options
Our rating: 4.5/5
At a glance
Bybit, established in 2018 and headquartered in Dubai, is recognized as the best crypto options trading platform in Japan. It offers a wide range of trading instruments, including derivatives, spot, and instant buy crypto features.
Known for its ultra-fast matching engine and instant trade execution, Bybit supports over 100 cryptocurrencies and provides multilingual support, including Japanese. The platform is particularly noted for its user-friendly interface, making it suitable for both beginners and experienced traders.
Our crypto expert, Michael, tested Bybit by depositing ¥100,000 using a credit card from a crypto-friendly Japanese bank SBI Sumishin Net Bank. He traded Bitcoin and Ethereum using three popular options trading strategies: Covered Call, Protective Put, and Straddle.
With an average trading fee of 0.075%, Michael structured his trades to balance potential returns and risks.
The total fees amounted to ¥75 per trade. After several trades, Michael achieved a profit of ¥15,000. The standout feature was Bybit’s real-time data analysis, which provided valuable insights for informed trading decisions.
Bybit stands out for its commitment to technological excellence and user experience. Its ability to handle 100,000 transactions per second significantly reduces the risk of slippage and trading errors, setting it apart from competitors. This focus on technology and user satisfaction makes Bybit a top choice for crypto options trading in Japan.
If you’re a trader based in Europe, you might want to explore other platforms, such as the best Swiss crypto trading platform or the best crypto trading platform in Norway, for tailored options in those regions.
Pros
- Advanced Trading Tools
- Top-Notch Security
- High Liquidity
- Educational Resources
- Risk-Free Test Environment
Cons
- Complex for Absolute Beginners
- Regulatory Uncertainty
- Limited Fiat Currency Support
- High-Risk Factor
- Data Sharing with Third Parties
Fees
| Fee Type | Amount |
| Trading Fee | 0.075% |
| Withdrawal Fee | Variable* |
| Deposit Fee | Free |
| Overnight Funding | Variable** |
*Withdrawal fees vary based on the cryptocurrency.
**Overnight funding rates change based on market conditions.
What is a Japanese crypto exchange?
A Japanese crypto exchange is a digital marketplace where users can buy, sell, and trade cryptocurrencies, such as Bitcoin, Ethereum, and many others, using Japanese yen or other currencies. These platforms are designed to cater to the needs of the Japanese market, adhering to local regulations and offering services in the Japanese language, making them user-friendly for residents in Japan.
From my experience, Japanese crypto exchanges stand out for their strict adherence to regulatory standards set by Japan’s Financial Services Agency (FSA). This ensures a high level of security and consumer protection, which is crucial in the volatile world of cryptocurrency.
How to choose a crypto exchange in Japan?
Selecting the right cryptocurrency exchange in Japan involves a few key considerations:
- Security: Opt for exchanges with robust security measures like two-factor authentication and a good track record.
- Regulatory Compliance: Ensure the exchange is registered with Japan’s Financial Services Agency (FSA) for legal protection.
- Ease of Use: A user-friendly interface is crucial, especially for beginners.
- Supported Cryptocurrencies and Liquidity: Look for platforms offering a variety of cryptocurrencies and high liquidity for efficient transactions.
- Fees: Compare fee structures, including trading, deposit, and withdrawal fees.
- Customer Support: Reliable customer service is essential. Check for responsive support channels.
- Additional Features: Consider any extra features like margin trading or educational resources based on your needs.
- Performance: Choose exchanges known for stability, especially during high market volatility.
Your choice should align with your trading style and security needs.
How to buy crypto in Japan
Buying cryptocurrency in Japan is a straightforward process, thanks to the country’s advanced digital infrastructure and clear regulatory framework.
Here’s a concise guide to help you get started:
- Choose a Reliable Exchange
- Create an Account
- Deposit Funds
- Buy Cryptocurrency
- Secure Storage
- Stay Informed
Remember, investing in cryptocurrencies involves risk, and it’s important to do your own research or consult with a financial advisor.
Is crypto legal in Japan?
Yes, cryptocurrency is legal in Japan. The country is known for its progressive stance towards digital currencies and has established a regulatory framework that legitimizes their use.
In 2017, Japan officially recognized Bitcoin and several other cryptocurrencies as legal payment methods under the Payment Services Act. This move not only validated the use of cryptocurrencies but also set the stage for a well-regulated crypto environment.
From a user’s perspective, this legalization means that engaging in crypto transactions and trading on Japanese exchanges is both legal and regulated. The Japanese government’s approach is focused on ensuring security and transparency in the crypto market, which benefits users by providing a safer trading environment.
What are the pros and cons of investing in crypto
Pros:
- High Potential Returns
- Market Accessibility
- Diversification
- Innovation and Future Potential
Cons:
- Volatility
- Regulatory Uncertainty
- Security Risks
- Limited Historical Data
How we rate and review exchanges
When evaluating crypto exchanges and trading platforms in Japan, our approach is straightforward and user-centric. We immerse ourselves in the user experience, exploring each platform as if we were everyday traders. This hands-on experience allows us to provide genuine, expert insights.
- User Experience and Interface: We assess how intuitive and user-friendly the platform’s interface is. This includes ease of navigation, clarity of information, and overall usability.
- Security and Reliability: We delve into the security measures each exchange employs, such as two-factor authentication and encryption. We also consider the platform’s history of reliability and any past security breaches.
- Fees and Costs: Understanding the fee structure is crucial. We break down the costs associated with trading, deposits, and withdrawals, providing a clear picture of what traders can expect.
- Asset Variety and Liquidity: We evaluate the range of cryptocurrencies available and the liquidity of these assets. This helps users understand the flexibility and trading opportunities on each platform.
- Customer Support: Responsive and helpful customer support is vital. We test the support channels and gauge the quality of assistance provided.
- Unique Features and Tools: Each platform has its own set of tools and features. We highlight these, explaining how they benefit the trader and set the platform apart from competitors.
Our reviews are backed by thorough research, personal testing, and a commitment to providing unbiased, expert advice.
FAQ
What is the easiest way to buy crypto in Japan?
The easiest way to buy crypto in Japan is through BYDFi, which provides a straightforward and secure platform for purchasing various cryptocurrencies.
Can I use Binance in Japan?
Binance, while popular globally, faces regulatory challenges in Japan, so it’s advisable to check the current status on their website or consider local alternatives like BYDFi.
Is crypto trading legal in Japan?
Yes, crypto trading is legal in Japan, with the government actively regulating exchanges to ensure security and compliance.
Can I use Coinbase in Japan?
Coinbase operates in Japan, offering a secure and regulated platform for trading cryptocurrencies, in compliance with local regulations.
Can foreigners buy crypto in Japan?
Yes, foreigners can buy crypto in Japan, especially on platforms like Phemex that offer no KYC (Know Your Customer) procedures, simplifying the process for non-residents.
How to buy USDT in Japan?
To buy USDT in Japan, you can use a crypto exchange like BYDFi, where you can easily exchange yen or other cryptocurrencies for USDT
Conclusion
In conclusion, after thorough analysis and hands-on experience, it’s clear that BYDFi is the best crypto exchange and trading platform in Japan. This platform stands out not only for its competitive fees and advanced trading features but also for its user-friendly interface tailored to both beginners and seasoned traders.
BYDFi’s commitment to providing a seamless trading experience, coupled with robust security measures, positions it as the top choice for Japanese crypto traders. Its unique offerings, like high leverage options and diverse perpetual contracts, set it apart from its competitors, making it the go-to platform for anyone looking to engage in crypto trading in Japan.
About the authors
This comprehensive review of the best crypto exchanges and trading platforms in Japan is brought to you by a team of seasoned crypto professionals – Michael, Nate, and Sofie.
With a combined experience of over 30 years in the realm of cryptocurrency technology and traditional finance, our team possesses deep insights and a keen understanding of the crypto market dynamics.
Michael, with his expertise in high-frequency trading and market analysis, Nate’s profound knowledge in crypto anonymity and altcoins, and Sofie’s proficiency in emerging crypto trends and user experience, collectively ensure that our reviews are not only thorough but also cater to a wide range of user needs.
Our hands-on approach and rigorous testing methodology underscore our commitment to providing readers with reliable and insightful content.