The Zaif cryptocurrency exchange is one of the oldest and most trusted and respected Bitcoin exchanges in Japan. The Zaif exchange has been successfully in operation since before the Japanese cryptocurrency regulators laid out the framework for exchanges like these. Therefore, Zaif helped to pave the way for cryptocurrency regulation in Japan and also became the first licensed cryptocurrency exchange by the Japanese Financial Services Agency (JFSA). The Zaif exchange is owned and operated by Tech Bureau and was established in June of 2014. Zaif is based out of Japan with their headquarters located at Orix Honmachi Building 4F, 1-4-1 Nishihonmachi Nishi-ku, Osaka-shi, Osaka Japan.
Though Zaif is based out of Japan, the exchange accepts traders from all around the world and offers their services in both Japanese and English. Again, the exchange has prospered since their inception and continues to grow and add more and more promising cryptocurrencies to their exchange platform. However, is the Zaif exchange really as great as it’s hyped up to be? Let’s find out in the following review, where we delve deep into the aspects that make up this cryptocurrency exchange and see what sets Zaif apart from the competition and whether or not they can be trusted.
Zaif offers their traders two distinct web-based exchange platforms to choose from for the exchanging of cryptocurrency assets. The first platform is known as the “Instant Exchange” and is very simple and basic. The Instant Exchange platform was built for beginner traders who simply want to buy or sell Bitcoin or MonaCoin for Japanese Yen. This exchange interface is very straightforward and allows traders to make simple buy or sell orders for the current market price.
The other exchange platform is much more advanced and is the company’s main trading platform. The platform utilizes a simple design and user interface which incorporates various advanced charting and analysis tools. This platform is not the best looking or most user-friendly platform we have seen, but the sheer amount of charting and analysis tools is great for advanced cryptocurrency traders. Traders have the option to place market and limit orders for buying and selling cryptocurrencies. As well, users can trade on margin with a leverage of up to x7.7. It is very evident that the main Zaif cryptocurrency exchange is built for experienced and advanced traders in mind.
Zaif is solely a cryptocurrency exchange and therefore deals in the cryptocurrency markets. However, the Japanese Yen (JPY) currency is available to trade in these cryptocurrency markets as well. In total, Zaif features over 40 carefully selected cryptocurrencies on their platform. The markets in which they can be traded in are:
- Japanese Yen (JPY): 41 pairs
- Bitcoin (BTC): 28 pairs
- NEM (XEM): 21 pairs
- MonaCoin (MONA): 15 pairs
Zaif charges their customers’ various low fees for trading cryptocurrencies on their platform, and they implement promotional lower fees from time to time. Also, the trading fees vary from crypto to crypto. Although, the average trading fee is 0.01% per trade for Bitcoin and the Japanese Yen. However, these trading fees are subject to changes at any time.
Zaif also allows traders to participate in futures trading and trading on margin, however, these trading methods come with fees. The lending fee per day is 0.039% and the commission is 0.7% for Margin trading. The daily fee for Futures trading and AirFX trading is 0.039% and there is a swap fee of 0.375% for AirFX trading.
Additional fees incurred by traders are the deposit and withdrawal fees. These fees vary from method to method. See the chart below for all the possible deposit and withdrawal fees.
Security and Fairness
The Zaif exchange is considered to be one of the safest and most secure cryptocurrency exchanges in the industry. They employ the latest SSL encryption protocols and store clients’ funds in segregated offline cold storage accounts. This protects them from any sort of hacking attempts on the exchange. Also, users are protected with a multi-signature withdrawal process and two-factor authentication techniques for accessing their account and making withdrawals. As well, every user on the Zaif exchange is treated fairly and equally. All traders and investors have access to all the tools and features on the exchange.
Another area the Zaif exchange excels in is their level of customer support. Support is available in both Japanese and English and the representatives are very friendly and quick to respond. The only contact method is through a support ticket email system, but this support method keeps things organized and efficient in times of many inquiries. The customer service representatives are available 5 days a week from 10:00 – 17:30. Additionally, support can be reached via their social media channels on Facebook and Twitter. Zaif also has many additional resources for clients to seek help such as an extensive FAQ page and informational pages with loads of helpful content.
Pros and Cons
- Extremely easy to use and navigate
- Cryptocurrency held in cold storage
- Very High liquidity
- Bitcoin futures
- Margin trading
- The verification process is tedious
- A trading platform could be more aesthetically designed
Here are some of the most common questions that are asked about Zaif crypto trading service.
Is Zaif regulated?
Yes. Zaif is regulated by the Japanese Financial Services Agency (JFSA).
Where is Zaif based?
Zaif is based in Osaka, Japan.
How does Zaif make money?
Zaif charges market maker and taker fees for each trade transaction. As well, they charge withdrawal fees and fees for margin trading and Bitcoin futures.
How do I deposit in Zaif account?
Zaif accepts cryptocurrency deposits and JPY deposits through bank wire transfers.
How do I withdraw money from Zaif?
You can withdraw from Zaif through sending your cryptocurrency to your personal wallet address or JPY through a bank wire transfer to your linked bank account.
Can I trade on Zaif with my mobile device?
Yes, you can use your mobile device to trade on Zaif through their downloadable mobile application.
Is Zaif reliable?
Zaif has proven to be a reliable and trusted exchange that has yet to be hacked.
Is Zaif a scam?
No. Zaif is a very legit exchange and is not a scam.
Zaif is a major cryptocurrency exchange and offers exceptional services for the trading and investing of cryptocurrencies. They offer many nice features such as an instant exchange, a trading platform, margin trading, and Bitcoin futures. The exchange implements the latest security features and is also regulated by a reputable authority. They also accommodate both beginner and advanced trader needs very well. Zaif is truly a cryptocurrency exchange for everyone.
- Bitcoin Cash
- Cape Verde
- Sri Lanka
- United Kingdom
- Solomon Islands
- Trinidad and Tobago
- Burkina Faso
- Russian Federation
- Saint Lucia
- South Sudan
- Virgin Islands, British
- South Korea
- Saint Kitts and Nevis
- Saint Vincent and the Grenadines
- Vatican City
- Papua New Guinea
- Cote d'Ivoire
- Dominican Republic
- Bosnia and Herzegovina
- Equatorial Guinea
- Hong Kong
- Sierra Leone
- Saudi Arabia
- Cayman Islands
- Sao Tome and Principe
- Czech Republic
- United Arab Emirates
- Marshall Islands
- New Zealand
- Antigua and Barbuda
- Central African Republic
- San Marino
- Costa Rica
- El Salvador
- South Africa
- Isle of Man