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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
- Popular Exchanges to Buy Bitcoin in Japan
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Coinmama- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
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LocalBitcoins- Support for nearly every country
- Wide range of payment methods accepted
- Trusted exchange around since 2012
Coinmama Popular Buy Bitcoin Read Review
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.
- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
- Some of the highest fees among credit/debit card bitcoin brokers
LocalBitcoins Popular Buy Bitcoin Read Review
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.
- Can be private, fast and easy
- In-person trades require no personal information
- Purchases of bitcoin can be made quickly via cash deposit
- Beware of scams; always follow the rules!
- Harder to buy large amounts of bitcoins compared to large exchanges
- Slightly to significantly higher prices than regular exchanges; premium for higher privacy
bitFlyer Popular Buy Bitcoin
bitFlyer is the largest Bitcoin broker and exchange in Japan, in terms of users, average daily volume and investment capital. In fact, it is one of the largest Bitcoin exchanges in the world. You can deposit funds via credit card or bank transfers, with Quick Deposit functionality enabled for many banks.
- Deep liquidity ensures prices near the fair market rate
- Extremely low fees; 0.15% at most, lower for more trading volume
- Fairly private for small trades; only a phone number or Facebook account required for 250,000 JPY monthly limit
- High or no limits for fully-verified or VIP traders
- Identity verification required to unlock higher monthly limits
- Support only available from 9 AM to 7 PM during weekdays
- Limited payment options
- Exchange can be hard to use for new Bitcoin users; it's geared towards traders
Coincheck Buy Bitcoin
Coincheck is a Bitcoin exchange based in Japan. Registered users can buy and sell bitcoin via bank transfer or credit card.
- Private for Japanese citiizens buying less than $500 worth of bitcoin; no need for identity verification
- One of a few major Bitcoin exchanges in Japan
- Support for multiple altcoins
- No set fee for credit card deposits; varies based on conditions
- Exchange can be hard to use for new Bitcoin users; it's geared towards traders
Bitcoin ATMs Buy Bitcoin
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Bitfinex Buy Bitcoin
Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%.
In August 2016, however, it was hacked and lost around 30% of its users funds. While Bitfinex can be helpful for buying large amounts of bitcoins, it is probably best to not use the exchange until it fully compensates affected users.
- Very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers
- One of the best ways to buy large amounts of bitcoins
- Allows lending of fiat or bitcoin to margin traders at interest (but this is risky in light of the hack)
- Very deep liquidity promotes a price close to fair market rate
- Supports several altcoins
- Was recently hacked and has yet to fully compensate all users for their loss
- Geared towards traders; possibly quite confusing for first time buyers
- Single payment option
Mycelium Local Trader Buy Bitcoin
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
- Easy and cheap way to buy bitcoins with cash
- Private way to buy bitcoins, no personal information required beyond cellphone number
- Users in sparsely populated areas will have trouble finding sellers
The State of Bitcoin in Japan
Japan is considered to be the home of Bitcoin founder Satoshi Nakamoto thanks to the pseudonym. In a way, it is not surprising to see that the country has welcomed cryptocurrencies with open arms and leading the way when it comes to Bitcoin adoption. In fact, the country had passed a law in April 2017 that recognized Bitcoin as legal tender, giving a massive boost to the country’s Bitcoin scenario.
However, that’s just one of the many positive steps Japan has taken in favor of cryptocurrencies. Let’s take a closer look at the various other reasons why Japan is a Bitcoin advocate’s dream destination.
The Regulatory Environment
Japan’s efforts to push innovation in Bitcoin and cryptocurrencies have continued despite some severe setbacks. For instance, the Bitcoin ecosystem in the country was hit hard in 2014 when Tokyo-based exchange Mt. Gox was hacked of 650,000 Bitcoins. What’s more, Japan’s National Police Agency reported that $540 million worth of cryptocurrency was stolen in the country during the first half of 2018.
But all these setbacks seem to have simply strengthened the resolve of Japanese regulators to bring measures in place that will shut such incidents out and promote Bitcoin adoption. Last year, the Japanese Financial Services Agency (FSA), the country’s top financial regulator, published a draft report outlining new cryptocurrency regulations.
The new regulations indicate that the regulator is taking proactive steps to take care of the hacking incidents that have plagued the country’s exchanges. According to the FSA, cryptocurrency exchanges in Japan will have to bolster the way they manage customers’ private keys, and also maintain net assets that are “equal to or more than the amount equivalent to the currency and repayment funds” in case the exchange is hacked.
However, these are just some of the positive measures being undertaken by the Japanese regulator in favor of Bitcoin and other cryptocurrencies. The country’s lawmakers are also suggesting at a cut in the tax rate with respect to cryptocurrency investments.
The lawmakers have proposed a separate tax rate of 20% on gains from cryptocurrencies as compared to the current maximum taxation rate of 55%. This step is expected to bring cryptocurrency investing in line with other financial instruments such as stocks. Additionally, regulators are pushing for a rule that allows investors to carry forward their cryptocurrency losses. Such a move will make cryptocurrency investments more mainstream.
In all, it can be easily concluded that the state of Bitcoin in Japan is strong, making it easy for users looking to buy, sell, and trade the cryptocurrency in the country.
Buying and Selling Bitcoin in Japan
The easiest way to buy Bitcoin in Japan is through one of the many exchanges available in the country. Our handy guide on Bitcoin exchanges in Japan makes it easy for investors looking to choose a cryptocurrency exchange by highlighting important criteria such as transaction fees, ease of use, withdrawal limits, payment modes, reputation, and security.
However, before choosing an exchange, it is important that buyers first get a Bitcoin wallet where they will store their digital tokens. Some exchanges require users to first get a wallet, while some of them have wallets of their own. However, it is ideally suggested that users get wallets of their own given the many hacking incidents that have taken place in Japan. In case you don't have a wallet, go through our guide on the best Bitcoin & cryptocurrency wallets.
An alternate way to buy Bitcoin in Japan is by way of an ATM. There are nine Bitcoin ATMs in Japan that you can locate using our Bitcoin ATM Map, with six of them in Tokyo. The advantage of these ATMs is that you can buy Bitcoin using your debit card, get your tokens almost instantly, and also remain anonymous. The downside comes in the form of high transaction fees that range between 5%-10%.
More importantly, Japan gives Bitcoin owners a range of avenues where they can spend their digital tokens. In 2017, Japanese Bitcoin exchange Coincheck had struck a partnership with Recruit Lifestyle to enable Bitcoin acceptance across 260,000 retail locations in the country. These retail locations sell a range of items from food to medicines to eye glasses.
As such, people owning Bitcoin in Japan can easily make payments using the cryptocurrency. In fact, the government has been pushing for Bitcoin payments in Japan as it had removed the 8% consumption tax on Bitcoin in 2017. So, the Bitcoin environment in Japan is thriving and it should remain that way in the future in light of the favorable steps being taken by the regulators.
