Zaif, Founded In Japan In 2014, Offers Multiple Trading Assets Like Bitcoin (BTC), Ethereum (ETH) And More. Zaif Offers A User-friendly Trading Experience Through Platforms Such As Zaif Web Trader And Zaif Mobile Trader, With Support For Up To 5x Leverage.
Although Advantages Include Multiple Cryptocurrencies And A User-friendly Platform, Limitations Include Geographical Limitations That May Exist Due To Regulatory Compliance. Overall, Zaif Is Suitable For Cryptocurrency Enthusiasts Seeking To Trade Securely In Japan, Consistent With Regulatory Standards Since Its Inception.
Zaif Is A Japanese Centralized Cryptocurrency Exchange (CEX). As Of September 2018, It Was Listed As The 35th Largest Cryptocurrency Exchange (by Turnover). However, On September 14, 2018, The Exchange's Hot Wallet Was Hacked And The Equivalent Of $60 Million In Cryptocurrency Was Stolen.
Following The Incident, Zaif Suspended Its Operations And Reached A Bailout Agreement With Japanese Brokerage Firm FISCO, Injecting The Company With 5 Billion Yen ($44.675 Million) In Financial Assistance. In November This Year, The Company Was Sold To FISCO Digital Asset Group Co. Ltd.
The Company Was Founded By Takao Asayama, CEO Of Tech Bereau. Tech Bereau Was Responsible For Running Zaif Until It Was Acquired By FISCO At The End Of 2018. As Of This Writing, The First Person In Charge Of The Platform Is Ryuji Yagi. Other Members Of The Management Team Include Toshiya Kotake, Norifumi Imai, Takayoshi Abe, Kenji Yamaguchi, And Osamu Fukami.
CoinMarketCap Was Unable To Confirm The Specific Backgrounds Of These Members As Most Of Them Do Not Have A LinkedIn Profile.
The Cryptocurrency Exchange Operates In Tokyo, Japan's Busy Capital. Zaif Made Its Debut On June 16, 2014.
CoinMarketCap Is Unable To Confirm Whether There Are Restrictions On The Use Of Zaif By Residents Of Any Country. However, In Addition To The Exchange's Predominantly Japanese Language Usage, An August 2022 Statement From The Company Also Stated That The Platform "does Not Currently Accept Applications For Account Opening From Overseas Customers. In Addition, Even If You Are A Customer Who Has Completed An Identity Verification Process In The Past, We Can Still Refuse To Let You Use Our Services At Our Sole Discretion."
The Trading Platform Offers A Limited Number Of Digital Assets. The Exchange Offers Only 10 Tokens With 14 Markets, Of Which BTC/JPY Is The Most Active Trading Pair.
Zaif Charges Some Of The Most "conscientious" Fees In The Crypto Exchange Industry - There Is No Pending Fee In The Cash Market, While The Buying Fee Is Only 0.10%.
On The Exchange Platform, Users Can Use Up To 7.7 Times Leverage To Trade On Margin.
Pros:
- Range Of Cryptocurrencies Available:
Zaif Offers A Variety Of Cryptocurrency Options, Including Popular Options Such As Bitcoin (BTC), Ether (ETH), Ripple (XRP), And Litecoin (LTC), Providing Users With A Variety Of Trading Opportunities And Investment Options.
2. Maximum Leverage Up To 1:5:
Traders On Zaif Have The Advantage Of Taking Advantage Of Leverage Up To 1:5, Allowing Them To Amplify Potential Profits, Although Attention Needs To Be Paid To The Risks Associated With Higher Leverage.
3. Convenient Trading Platform:
Users Can Benefit From Easy-to-use Trading Platforms, Namely Zaif Web Trader And Zaif Mobile Trader, Which Provide Convenience And Flexibility For Executing Trades On Different Devices, Enhancing The Overall Trading Experience.
4. Flexibility Of Deposit And Withdrawal Methods:
Zaif Offers Users Multiple Options For Accessing And Withdrawing Funds, Including Bank Transfers And Cryptocurrency Transfers.
5. Customer Support Available:
Zaif Offers Customer Support Through Multiple Channels, Including Email, FAQ Section, And Online Support Forms. This Availability Helps Users To Seek Help Or Clarify Questions.
Cons:
- Limited Educational Resources:
Zaif's Lack Of Designated Educational Resources May Limit The Learning Resources Available To Users When Seeking Additional Guidance Or Information About Cryptocurrency Trading.
2. Potential Geographic Restrictions:
Due To Compliance With The Regulatory Compliance Requirements Of Japan's Financial Services Agency (FSA), There May Be Potential Geographic Restrictions That Limit Access For Users Outside Of Japan. Such Regulatory Commitments May Affect The Platform's Availability In Certain Regions.
3. Insufficient Specific Information On Educational Resources:
Zaif Did Not Provide Detailed Information On Its Educational Resources, Leaving Users Uncertain About The Availability Of Learning Materials Or Tools To Enhance Their Understanding Of Cryptocurrency Trading.
4. Limited Customer Support Channels:
Although Zaif Provides Customer Support, The Specific Hours Of Phone And Chat Support Are Limited (10:00 To 17:30 On Weekdays), Which May Result In Users Receiving Delayed Responses During Non-business Hours And Weekends.
Regulatory Authority
Zaif Is Regulated By The Financial Services Agency (FSA), Which Is Specifically The Responsibility Of The Kinki Finance Bureau. Zaif's Regulatory Number Is "Kinki Treasurer No. 00001" And It Is Currently Under Regulatory Status. Exchange Holds A Digital Currency License Under The License Name "Kinki Wantong Exchange Co., Ltd." This Regulatory Framework Ensures That Zaif Operates In Accordance With The Guidelines And Requirements Established By The Regulatory Authorities, Providing Users With A Degree Of Supervision And Security.
Services
Zaif Offers A Wide Range Of Services:
Easy Trading: A Simplified And User-friendly Trading Experience With Easy Execution.
Order Book Trading: Get Real-time Order Book Data To Make Informed Trading Decisions.
Automated Trading (Ranked Trading): Automated Trading Based On Ranking Strategies.
Automated Trading: Automated Trading Using Intelligent And Efficient Algorithms.
Coin Reserve: Users Can Reserve A Specific Currency For Future Transactions.
Margin Trading: Enables Users To Borrow Funds To Trade For Potentially Higher Returns.
Zaif Payments: Payment Services Are Integrated Into The Zaif Platform For Easy Trading.
Cryptocurrency Trading Desk: Over The Counter For Large Transactions Outside Of The Regular Market.
Social Tips: Social Trading Features Enable Users To Share And Follow Trading Tips And Strategies.
Zaif Cards: A Specialized Card Service That May Be Associated With The Zaif Platform.
Partner Services: Collaborative Services Provided Through Collaboration With Other Entities. Includes:
Zaif Research: Research Tools And Resources To Understand Market Trends And Opportunities.
Zaif NFT Marketplace: A Marketplace For Trading And Exchanging Non-fungible Tokens (NFTs).
Zaif INO: An Initial NFT Offering, Which May Be A Fundraising Or Issuance Service Within The Platform.
