|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.|
|Volume 24h||$24 349 247|
|Updated||Monday, April 19, 2021 12:00:02PM UTC|
Zaif facts, technical details and Zaif information
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 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.
Zaif is launched and based in Japan, a country that is home to numerous cryptocurrency exchange platforms. The exchange is one of the oldest ones out there and is known for its prestigious features. The platform was owned by a company called Tech Bureau, which made headlines in the last few years with the investments it has secured from Money Partners Group, a Japanese brokerage. This means good things for the platform, as due to the new flow of money, its ability to further add to its features and enhance its technical abilities is easier than before.
The reason why Japan is home to many cryptocurrency exchanges lies in the fact that the country is one of the first to regulate and license exchange platforms. Japan’s Financial Services Agency (FSA) is its local cryptocurrency exchange regulator, and all platforms wishing to operate in the country must obtain a license from the agency. Zaif was one of the very first platforms to obtain the license and undergo the specific regulation process that is required by the government. This ensures that Zaif is not run by fraudulent people, but rather a team that is working towards its users’ needs in the industry.
The exchange boasts high liquidity and trading volume, as well as an impressive list of coins available for trading. Alongside large crypto coins such as Bitcoin, Bitcoin Cash, Litecoin, MonaCoin etc, the exchange also offers its own NEM coin for trading.
Security on the platform is ensured through the use of advanced SSL encryption and offline/cold storage of users’ wallets. As commonly used in many other cryptocurrency exchange platforms, two-factor authentication system (2FA) is also utilized by Zaif. This does not mean that the exchange has been completely secure, however. In September 2018, Zaif was a victim to a hacker attack, from which the exchange lost 60 million USD. This has caused the platform to change the owner company, as April 2019 saw Zaif change hands from Tech Bureau to another Japanese company called Fisco, with the hopes of better and more secure management. The exchange has fully refunded users who lost money during the attack.
The exchange offers both fiat-crypto and crypto-to-crypto trading on its platform, making it an entry-level exchange. This means that Zaif is friendly towards new cryptocurrency investors. Fiat-crypto trading can be mainly done is the local Japanese currency of JPY. Users can deposit such fiat currency to their accounts via both bank transfers and credit cards. Likewise, existing cryptocurrencies can be deposited into an account with a deposit fee that varies from method to method.
The specific amounts can be found online. The exchange charges relatively low trading fees to its customers, though fees vary from pair to pair. The average trading fee amounts up to 0.01%, which is significantly lower than the global industry average of 0.25%. This is a major advantage and a competitive edge for the exchange. Zaif supports a trading interface called “Instant Exchange”, through which users can instantly buy Bitcoin or MonaCoin for JPY. The fees on the interface are valid for only 30 seconds as they are adjusted according to the market trends. This makes trading on Zaif very practical for new investors. The exchange also offers bitcoin futures trading, which is an advantage for those who are looking for more than just the simple features.
Zaif supports a website that is very modern and practical. As mentioned before, it has two different interfaces designed and adjusted for users of different investment capabilities and backgrounds. This makes the exchange very user-friendly as everyone can easily trade on the platform. The exchange has customer support between the hours of 9 am and 5 pm, however, users can resort to e-mailing the exchange if they need support after service hours.
Using leverage, investments can be made with more effective use of funds. You can choose leverage from 1x to 4x, according to your trading style.
Only when you make a profit at the time of settlement in a margin transaction, Zaif will charge an amount equivalent to 0.7% of the profit . *It is unnecessary when leverage is 1x. Even when there is a possibility that a loss greater than your deposit balance will occur at the time of settlement due to a sudden change in the market price, etc., by collecting this fee, we offer a service without a margin call so that you can trade with confidence within your account balance. No margin call required! There is no risk beyond your account balance.
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.
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being executed. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by rewarding the makers of that liquidity with a fee discount. Zaif’s trading fees for takers are 0.10%. This fee is a bit below the global industry average. The global industry average is arguably around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
But the taker fees are not even this platform’s strongest edge. At the Zaif-exchange, makers don’t pay any fees at all (0.00%). Naturally, this is a great deal for the makers in the trades at this exchange.
However, Zaif also charges something they call an "account maintenance fee", but only for accounts who haven't completed KYC. Naturally, this is a way to incentivize users to complete the KYC. The account maintenance fee becomes higher, the higher the value of the assets you hold at the exchange is.
* Crypto Rating accepts no liability for any errors in the Zaif information and Zaif trade volume. For the most up-to-date prices please visit the Zaif's official website.
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|4||Bitfinex||2012||4.4||146||1 387 204 084||61.17%|
|5||KuCoin||2017||4.2||282||2 475 873 413||23.14%|
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|10||CoinBene||2017||2||113||5 020 717 633||1.95%|
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