You probably already know this if you’re an avid reader of Thecointribune (and I’m sure you are) the Japanese exchange giant bitFlyer landed in Europe a few years ago. A story told by Hellmouth Banner in a previous article. Today bitFlyer announces the launch of cross border trading with Japan. This simply means that European cryptocurrency traders will be able to access the Japanese market while going through the bitFlyer Europe platform. A small revolution in the world of Bitcoin and cryptocurrency trading. Indeed, Japan is a country where Bitcoin is very popular and has been for many years. Liquidity on the Bitcoin market is therefore very important, so it will be very interesting to be able to take advantage of it as a cryptocurrency trader based in Europe.
Warning : This sponsored article is offered to you in partnership with the company bitFlyer. Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an investment invitation.
Japan, fertile ground for Bitcoin (BTC)
You probably know Japan, for its manga, its video game culture, its cherry blossoms and the famous Mount Fuji. Today, Japan is also making a name for itself for its growing appeal to Bitcoin and cryptocurrencies. Whether it is the Japanese themselves or the Japanese government, everything points in the direction of a significant adoption of Bitcoin. Japan was one of the first countries to recognize Bitcoin as a currency in its own right in its legislation.
All this excitement and fascination around Bitcoin has made this country one of the most important catalyst in terms of volume on the BTC market. Indeed, the Japanese market alone represents nearly 20% of the volumes traded on the global Bitcoin markets.. Since many years, bitFlyer It has established itself in Japan as the leader of the Bitcoin and cryptocurrency exchange in the country. In the Bitcoin market more than 70% of the volumes traded are in fact on the bitFlyer exchange!
Japan’s number one exchange therefore aims to take this leading position internationally. bitFlyer is already present in Europe and the United States, making it the only exchange authorized to operate in the three geographical areas of Japan, Europe and the United States. The implementation of the functionality of cross border trading is thus a logical continuation in bitFlyer’s strategy to establish their international leadership.
Cross border trading with Japan, why is it a revolution as a European trader?
The sinews of war in the cryptocurrency and Bitcoin trading markets are the cash, that is to say the volumes that are traded every day on the different exchanges. Today, while many exchanges are accused of falsifying the volumes traded on their platform, bitFlyer is one of the 10 exchanges that do not falsify the volumes exchanged according to an independent study conducted by the company Bitwise.
With cross border trading, European traders will be able to benefit from significant liquidity present on the Bitcoin (BTC) / Yen (JPY) pair.. The advantages of trading on an exchange offering strong liquidity are numerous: the first is to reduce the latency period when carrying out execution orders for large volumes. Then the risk of the price slipping between request for execution and execution is reduced, in other words, there is less risk that your purchase price will change between the time you place an order and its execution. Finally, the difference between the purchase price and the sale price is reduced.
Previously, as a trader based in Europe it was necessary to perform several manipulations and to register, most often on different platforms in order to access the significant liquidity of Bitcoin in the Japanese market.
Asked about the launch of this new service by bitFlyer Europe, the company’s COO Andy bryant said :
“The launch of bitFlyer’s Cross Border Trading is revolutionary for the Bitcoin and cryptocurrency industry and a major milestone for us. Until now, it has been virtually impossible for traders using the Euro to trade the BTC / JPY currency pair without going through several additional steps or registration processes ”
Andy Bryant, bitFlyer’s COO
You will understand, no more need to take a flight to Tokyo, no more need to contort and validate your identity multiple times on countless exchanges. Today, thanks to bitFlyer Europe, Bitcoin’s significant cash flow is accessible without having to leave your couch.
A message again confirmed by Andy Bryant of bitFlyer Europe which explains:
“We are now offering our users the unprecedented opportunity to trade in one of the world’s largest and most liquid markets.“.
Andy Bryant, bitFlyer’s COO
bitFlyer to conquer international leadership in the small world of Bitcoin (BTC) and crypto exchanges
If today the announcement of cross border trading with Japan concerns Europe, bitFlyer’s ambitions do not stop at the borders of our continent. Indeed, the longer term objective for the Japanese giant is to offer this same cross border trading service in the United States. Americans will thus also be able to access the liquidity present on the Japanese market.
Finally, what bitFlyer wants to achieve internationally is to make all trading pairs with significant liquidity accessible. The goal will ultimately be to be able to access the BTC / JPY and BTC / USD pair from Europe. The same goes for American traders who will be able to access BTC / JPY and BTC / EUR pairs. And the Japanese will also be able to access BTC / USD and BTC / EUR pairs.
And the regulations?
As mentioned in the introduction of this article, the Japan, where the bitFlyer exchange originates from, is a country that very quickly implemented regulations around cryptocurrencies. France and Europe also now have regulations regarding crypto assets like Bitcoin. The bitFlyer subsidiary in Europe, which is also called bitFlyer Europe, has its head office in Luxembourg and has thus complied with the regulations in force in Europe.
Thus, it is important to note that the establishment of the cross border trading does not change anything regarding the European regulations in force for the traders who will use it. As a European trader, you will therefore always be subject to the regulations in force concerning respect for privacy and compliance with laws against money laundering and the financing of terrorist activities.
Conclusion, with cross border trading, the bitFlyer group is deploying its Japanese leadership on the international scene
The exchange bitFlyer won at Japan and thus intends to impose itself in Europe and the United States where the group now has subsidiaries.
The services offered by bitFlyer make it possible in particular to exchange Bitcoin, of Ether and Litecoin. All with a very simple service for beginners, very low or non-existent fees and payment terms by credit card or via your PayPal account available through the “Instant Buy” feature. The bitFlyer exchange will therefore be perfect for a beginner but also for more experienced traders who will know how to take advantage of the service offered by the bitFlyer Lightning exchange that we reviewed in a previous article. A very intuitive mobile application is also available to you on the stores for IOS and Android. In short, with bitFlyer, the quality of service is there and today liquidity is once again present without artificial swelling of volumes, which is very appreciable. We let you discover the service for yourself on bitflyer.com.
Finally we will end with a few words from Yuzo Kano, the founder of bitFlyer Group, interviewed on the occasion of the release of the service cross border trading, he declared:
“BitFlyer’s goal has always been to create a global cryptocurrency trading platform that allows users to benefit from the size, depth and liquidity of a single marketplace. Liquidity is a constant challenge for the cryptocurrency markets and is essential for ensuring the future growth and sustainability of BTC and the cryptocurrency industry as a whole. Today’s announcement is a big step forward in this regard“
Yuzo Kano, founder of bitFlyer Group
How do I register with bitFlyer?
To register on the benchmark Bitcoin and crypto exchange bitFlyer, and benefit from its many advantages, this is where it starts.
Guillaume has been passionate about Blockchain technologies and cryptocurrencies for several years now. He strongly believes in mass adoption of these in the years to come. Eager for crisp news and always on the lookout for the latest trends in the cryptocurrency market, he takes pleasure in sharing all their secrets with you!