Domestic Exchanges for Converting Japanese Yen to Cryptocurrency
Conclusion: Basically, BITPOINT. When in a hurry, BitTrade should be used in combination.
The cryptocurrency environment in Japan inevitably has strict regulations, and many exchanges take time for deposits and withdrawals.
Among them, BITPOINT is particularly easy to use because deposits and arrivals are smooth. in that regard.
■ Reasons for recommending BITPOINT
● Fast deposit and withdrawal processing
Even for the first withdrawal, it is unlikely to remain "pending" for many hours.
Having supported dozens of people, there were almost no detailed questions during registration or withdrawal.
● Short waiting time for funds to arrive
Deposits from wallets also take
a few dozen minutes until input is requested → and are reflected immediately after input.
This speed is very helpful.
● High trading volume
Since the order book is deep, limit orders are easily filled.
The time required for converting to JPY is minimized.
■ However, "Japanese Yen withdrawal" is slow
BITPOINT takes two business days.
Honestly, it is difficult to use when you are in a hurry.
This is its only weakness.
■ Method to use when in a hurry: Use BitTrade in combination
When you need Japanese Yen urgently, the following flow is the fastest.
Send cryptocurrency to BITPOINT
Send from BITPOINT to BitTrade
Immediate withdrawal
BitTrade supports immediate withdrawals, so this is the fastest way.
(The possibility of a time lag on the bank side has not been confirmed.)
■ Reasons for going through BITPOINT
Sending directly from a wallet to BitTrade can
sometimes take several hours each time.
Even with the same wallet, same currency, and same destination, it is often slow, so
BitPoint is more stable as an 'entry point when in a hurry'.
■ Which one should you use? (By situation)
● When in a hurry
Receive at BitPoint
→ Send to BitTrade immediately
→ Instant withdrawal
This saves time and prevents timing loss when converting to Yen.
● When you have time
Convert to Japanese Yen at BitPoint
The trading volume is high and limit orders are easily filled, so it is stress-free.
■ BitPoint vs. BitTrade Comparison
Ease of registration and screening
BitPoint: Smooth and few questions
BitTrade: Often takes time for the first time
Cryptocurrency deposit reflection
BitPoint: Fast (input in tens of minutes -> immediate reflection)
BitTrade: Can take several hours
Japanese Yen withdrawal
BitPoint: Slow, taking until the second business day
BitTrade: Supports instant withdrawal
Trading volume (order book depth)
BITPOINT: High → Limit orders are easily filled
BitTrade: Low → Limit orders may take a long time to fill
Ease of converting to Yen
BITPOINT: Smooth with minimal price slippage
BitTrade: Tends to rely on market orders (risk of higher costs)
Urgent handling
BITPOINT: Fast deposits are a strength
BitTrade: Fast withdrawals are a strength
Recommended usage
BITPOINT: Regular use and converting to Yen
BitTrade: Urgent Japanese Yen withdrawals
Next time, I will write about "how to send to overseas exchanges" and "the optimal route to convert to USDT."