Cryptocurrency trading has become increasingly accessible, offering users the ability to buy, sell, and manage digital assets around the clock. However, with opportunity comes risk—and understanding the rules, mechanisms, and safeguards behind a platform is essential for informed participation. This guide outlines the core aspects of cryptocurrency trading, including transaction types, security protocols, fees, and critical risk disclosures, ensuring you make decisions based on clarity and awareness.
What Is Cryptocurrency?
Cryptocurrency is a decentralized digital asset that operates independently of any central government or financial institution. Unlike traditional fiat currencies such as the Japanese yen or U.S. dollar, cryptocurrencies are not backed by physical commodities or state guarantees. Instead, they rely on cryptographic technology to enable secure peer-to-peer transactions over the internet.
Bitcoin was the first widely recognized decentralized cryptocurrency, paving the way for numerous alternative coins—commonly referred to as "altcoins." Together, Bitcoin and altcoins form the broader category of cryptocurrencies. These digital assets can be used for online transactions, investments, or value storage, provided the receiving party agrees to accept them as payment.
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Supported Cryptocurrencies and Trading Pairs
The platform supports a wide range of cryptocurrencies across multiple trading channels:
1. Sales Desk (Spot Trading)
This service allows direct buying and selling of crypto assets against Japanese yen or Bitcoin. Supported pairs include:
- BTC/JPY, ETH/JPY, LTC/JPY, XRP/JPY
- DOGE/JPY, SHIB/JPY, AVAX/JPY, MATIC/JPY
- And over 40 additional currency pairs with JPY or BTC
2. Exchange Market (Order Book Trading)
An order-matching system where buyers and sellers interact competitively based on price and time priority. Available pairs include:
- BTC/JPY, ETH/JPY, XRP/JPY, DOGE/JPY
- SHIB/JPY, AVAX/JPY, MANA/JPY, GRT/JPY
3. Staking Services
Users can participate in network validation by staking ETH (Ethereum), earning rewards over time. No separate application is required—simply holding ETH in your account makes you eligible.
4. Other Supported Assets
Certain tokens like XYM and FLR are supported for custody and transfer but do not currently support trading functions.
How Trading Works: Sales Desk vs. Exchange
Sales Desk Model
In this over-the-counter (OTC) model, the platform acts as the counterparty to your trades. When you place an order, the system displays real-time bid and ask prices generated from aggregated market data and internal pricing models. Transactions are executed instantly at these quoted rates.
Key features:
- Immediate execution
- Fixed pricing at time of order
- Minimum and maximum order limits apply (check website for details)
Exchange Market Model
This is a competitive trading environment where users place limit or market orders into an order book. Matching occurs automatically based on:
- Price Priority: Better prices get filled first
- Time Priority: Among equal prices, earlier orders execute first
Supported order types:
- Market Order: Execute immediately at best available price
- Limit Order: Set a specific price for buying or selling
- Stop-Limit Order: Trigger a limit order when a specified price level is reached
Orders remain active until filled or canceled (GTC—Good Till Canceled). The system also enforces price bands ("price limits") per trading session to prevent extreme deviations.
Deposit and Withdrawal Procedures
Fiat Deposits (JPY)
You can deposit Japanese yen via:
- Bank transfer (to designated accounts)
- Convenience store payments
- Pay-easy (Quick Deposit)
Deposits must be made under your registered name. Mismatched names may result in delays or account restrictions.
Crypto Deposits
To deposit cryptocurrency:
- Use the unique deposit address provided in your account dashboard.
- Ensure correct token type and memo/tag if required.
- Confirm network compatibility.
Important: Sending unsupported tokens or incorrect addresses may lead to irreversible loss.
Withdrawals
- Fiat: Withdrawals go only to your personal bank account. Processing takes up to two business days.
- Crypto: You can send assets to external wallets. Minimum withdrawal amounts apply and vary by asset.
Transactions may be delayed due to blockchain congestion or compliance checks.
User Asset Security and Fund Protection
Protecting user funds is a top priority.
Segregated Management
- Fiat Funds: Held in trust through Mizuho Trust & Banking Co., completely separate from company assets.
- Cryptocurrencies: Stored in cold wallets—offline systems disconnected from the internet—to minimize exposure to cyber threats.
Each user’s balance is tracked separately in secured ledgers.
Additional Security Measures
- Private keys are protected under strict internal policies
- Multi-layered access controls and monitoring systems
- Regular audits of asset balances
In rare cases of asset loss due to security breaches, compensation may be provided in equivalent value via other cryptocurrencies or cash.
Fees and Cost Structure
Trading involves various fees:
- Transaction Fees: Charged on trades; varies by service type and volume
- Deposit/Withdrawal Fees: Apply to certain methods
- Staking Service Fees: A portion of earned rewards goes to operational costs
For full details on current fee schedules, visit the official fee page.
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Frequently Asked Questions (FAQ)
Q: Can I trade 24/7?
A: Yes, cryptocurrency trading is available 365 days a year, 24 hours a day. However, temporary maintenance or system updates may occasionally pause services.
Q: What happens during sudden price swings?
A: The platform uses circuit breakers to halt trading if prices move beyond predefined thresholds. This prevents erratic executions and allows for orderly resumption via a "call auction" mechanism.
Q: How are staking rewards distributed?
A: Rewards are automatically credited to your account in ETH units down to eight decimal places. Eligibility requires holding ETH and not opting out of the program.
Q: Is my money safe if the company goes bankrupt?
A: While customer assets are legally segregated, bankruptcy could still impact timely returns. Always consider counterparty risk when choosing a platform.
Q: Can I cancel or modify an order?
A: Limit orders can be canceled before execution. However, modifications require cancellation and re-entry. Market orders cannot be canceled once submitted.
Q: What is a cold wallet?
A: A cold wallet is an offline storage solution that keeps private keys isolated from internet-connected devices, significantly reducing hacking risks.
Risk Disclosures Every Trader Should Know
Engaging in cryptocurrency trading involves significant risks:
Price Volatility Risk
Crypto values fluctuate rapidly due to market sentiment, regulatory news, macroeconomic trends, and technological developments. Prices can drop sharply—or even fall to zero.
Liquidity Risk
During periods of low trading volume or market stress, it may be difficult to execute trades at desired prices.
System and Connectivity Risks
Technical failures—on either the platform's side or yours—can delay or prevent order execution. Network outages or device issues may disrupt access.
Cybersecurity Threats
Despite robust protections, no system is immune to attacks. Users must also safeguard login credentials and avoid phishing attempts.
Regulatory and Tax Risks
Governments may impose new regulations or tax rules affecting crypto ownership and trading. Profits are generally treated as miscellaneous income under Japanese tax law.
Operational Risks
Hard forks, software bugs, or third-party service failures can impact asset availability or functionality.
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Final Notes on Responsible Trading
Before engaging in any transaction, ensure you fully understand the mechanics and risks involved. Review all terms of service, monitor fee structures, and assess your financial capacity and experience level. Never invest more than you can afford to lose.
By combining knowledge with disciplined strategy, you can navigate the dynamic world of digital assets with greater confidence and control.