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We get it, you’re here to buy your first Bitcoin.
We’re here to help.
Japan is one of the world’s largest leaders of cryptocurrency adoption.
As recently as April 2020, the Japanese government rolled out even more legislation surrounding Bitcoin and cryptocurrency in the country.
If there’s one thing for sure, Bitcoin is here to stay in Japan.
If you want a fast answer, the best Bitcoin exchanges and ways to buy Bitcoin in Japan are:
Without further ado, let’s jump into the best ways to buy Bitcoin in Japan!
Gemini is an exchange based in New York, US that allows for the trading of USD against Bitcoin, Ethereum, Litecoin, Zcash, and more. For fees on Gemini's brokerage service, expect 1.49% fees on buys and sells for orders over $200. Gemini's brokerage service is an intuitive way for beginners to purchase cryptocurrency.
If you feel comfortable using their exchange feature, have your account switched to ActiveTrader mode. On this mode, fees scale base off your trading volume and are between .35% and 0% depending on if you are a maker or taker.Visit Gemini Read Review
Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.
Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!
Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily and $20,000 monthly.
Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.Visit Coinmama Read Review
Founded in 2014, Coincheck is the first Japanese based exchange mentioned in this guide and allows users to purchase Bitcoin with a bank transfer or card.
The exchange's smooth user interface makes it simple for users to purchase cryptocurrency. The exchange appears to be offering a 0% trading fee promotion that has been lasting for a while now.
Bitflyer is another Japenese based cryptocurrency exchange that allows you to purchase Bitcoin with fiat currency in Japan.
According to the website, the exchange actually features the most trading volume out of Japan, which offers great liquidity. Bitflyer has relatively low fees and offers buying limits that scale off of account level.
This exact information doesn't seem to be public and can be found by contact Bitflyer support.Visit Bitflyer
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. On the exchange, users to trade among themselves by posting a quick buy or quick sell ad on the exchange platform. Fees and limits will depend on the offer or ad that you select.Visit LocalBitcoins Read Review
Bitcoin ATM’s are one of the best ways to buy Bitcoin if privacy is a large concern of yours. At press time CoinRadar claims there’s 0 Bitcoin ATMs inside Japan. If this changes, we’ll let you know. If you do know of one in Japan, leave a comment below!
TokenTax.co has a great guide on paying cryptocurrency tax on Japan. Depending on your tax bracket, it appears you’ll pay anywhere from 5%-45%. As always, consult a tax professional in your location to get the best advice.
When you’ve got it all sorted, we do recommend using cryptocurrency tax software in order to simplify the process.
Bitcoin couldn’t be more legal anywhere else. Japan has one of the most positive and welcoming climates for Bitcoin and cryptocurrencies, and it is no coincidence that it leads many other countries in blockchain startups.
The anonymous founder of Bitcoin—Satoshi Nakamoto—sports a Japanese name, which suggests Japanese roots, but the embracing nature of Japan towards cryptocurrencies goes far beyond sharing filial roots with a mysterious founder.
In April 2017, the Japanese government released a directive that listed Bitcoin and other cryptocurrencies as a legal property that is listed on the Payment Service Act.
There are only very few countries where virtual currencies are recognized legally.
Japan has suffered some of the most high profile of attacks in the crypto space, and the earliest too. The Mt. Gox exchange was the first and biggest exchange as of 2012 and was handling millions of the world’s Bitcoin transactions.
By getting involved even when Bitcoin had little value, Mt Gox grew very quickly to be the major exchange in the world, and its successful hack shocked and took the crypto community by surprise.
On closer inspection, however, no one should have been shocked, and Mt. Gox had had it coming for a long while. Formerly, a game hub, its conversion to an exchange handling millions of transactions ensured it grew big with ever-increasing security loopholes.
After Mt Gox hack, 6 percent of the world’s total Bitcoins went completely missing, and not only Japan was hit with devastating news, the whole world was.
It wouldn’t end there though. As a matter of fact, after Mt Gox, Japan had lost close to a billion-dollar worth of coins. Coincheck which lost $530 million last year was the highest profiled since Gox.
With all these losses, is it safe to buy and store your cryptocurrencies in Japan exchanges? It never probably is a hundred percent, it is much safer to store your coins in personal and cold wallets.
The recent strict regulations imposed by the FSA to tighten cybersecurity could be an excellent stroke to tighten security shortly, and with growing involvement by Japan regulatory bodies, the cryptocurrency industry is only getting safer by the day.
Making money online is nice, but there’s typically some risk to it.
And there you have it! A complete guide of Bitcoin in Japan and the history of Bitcoin in the country. Depending on your preferred payment method, certain exchanges will be better than others.
To summarize, the best ways to buy Bitcoin in Japan are: