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Zaif
RankZaif
Name
Volume (24h)
Visits
Avg.Liquidity
No.Markets
Launched
Volume Graph
Zaif
000
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Zaif is one of the very first, most trusted and respected Japanese crypto exchanges. Zaif became the first licensed cryptocurrency exchange of the Japanese Financial Services Agency (JFSA). The Zaif exchange was launched by Tech Bureau and was founded in 2014.

It is one of the first cryptocurrency exchanges in Japan to receive a license from the FSA. This means that it meets all legal requirements and is not a fraud.

Trading Characteristics

Zaif is one of the few cryptocurrency exchanges offering leverage trading. It can certainly be more profitable, but also more risky. 

The leverage is 7.77, and there is no margin requirement. 

Other major exchanges that have a similar service are Kraken, bitFlyer (another Japanese exchange), CexIo, and Quoinex. There are also many forex brokers that offer cryptocurrency CFDs for margin trading. 

The great convenience is that their clients do not need to create a new account, and they can use familiar trading platforms with all their features and tools.

Zaif has a fairly extensive list of cryptocurrencies that can be traded for the JPY and among themselves. In total, there are 41 pairs of JPY, 28 pairs of BTC, 21 pairs of XEM and 15 pairs of MonaCoin, as well as Bitcoin futures.

Zaif offers a feature called Instant Exchange, which allows customers to instantly buy and sell cryptocurrency for JPY. This is done using a simple buy and sell form. However, it is noted that this type of trading is carried out at market prices, and the price displayed when filling out the form is valid for 30 seconds. Therefore, when the order is completed, it may be different. The maximum daily transaction amount is 50 million yen.

Zaif Commissions

Each transaction occurs between two parties: the maker whose order exists in the order book before the transaction. Thus, the manufacturer "makes" an executable order. The other party is the buyer who places an order that matches (or accepts) manufacturer's order. The producer-buyer model typically encourages market liquidity by rewarding producers of that liquidity with a commission discount.

Zaif trading fees for takers are 0.10%. This fee is slightly lower than the global average for the industry. The global average for the industry is around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge a fee, such as 0.10% or 0.15% instead.

But commissions are not even the strongest advantage of this platform. On Zaif, makers do not pay any commissions at all (0.00%). Naturally, it is very profitable for the makers to trade on this exchange.

However, the crypto exchange also charges what they call an "account maintenance fee", but only for accounts that have not passed KYC. Naturally, this is a way to encourage users to pass KYC. The higher the account maintenance fee, the higher the value of the assets you hold on the exchange.

Fee for a withdrawal

Zaif charge a fee for withdrawing funds in the amount of 0.0001 when withdrawing BTC. This fee is much lower than the industry average. You can also increase the withdrawal rate by paying a higher commission, up to 0.01 BTC. 

The Fee for Deposit and withdrawal Zaif

On this exchange, you can make both a bank transfer and a credit card. This can be useful especially for new crypto investors.

Safety

The Zaif exchange is considered one of the most secure cryptocurrency exchanges in the industry. They use the latest SSL encryption protocols and store customer funds in separate offline cold storage accounts. This protects them from any attempts to hack the exchange. In addition, users are protected by a multi-signature revocation process and two-factor authentication methods to access their account and withdraw funds.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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