Cryptocurrency exchange BTCBOX
BTCBOX Exchange is one of Japan’s most reputable cryptocurrency platforms. The exchange specializes in trading Bitcoin, and the only fiduciary currency with which you can make transactions on the purchase and sale of digital money is the yen.
Despite the fact that the launch of the exchange took place in 2014, for many years it was not in great demand in the domestic cryptocurrency market of Japan, and, therefore, the trading volume here did not exceed the average statistical indicator.
Since 2016, the development company BTCBOX Co., Ltd decided that it is possible to “capture” a significant part of the domestic Japanese cryptocurrency markets only if one focuses not only on Bitcoin trading, but also on alternative digital currencies. In May of that year, Litecoin and Ethereum tokens were placed on the exchange.
BTCBOX is headquartered in Hong Kong. However, this does not prevent the company from focusing on international cryptocurrency markets.
Among the main advantages of the exchange, unlike other Japanese platforms, it can be noted:
- A huge number of trading tools available.
- A simple, intuitive interface that even a novice trader can easily understand.
- The ability to view quotes of currency pairs BTC / JPY, LTC / JPY and ETH / JPY without the need for authorization on the site.
According to the developers, the BTCBOX Exchange is a professional tool that can be used by both experienced traders and ordinary users interested in cryptocurrency and investments. In other words, large investment funds and individuals who do not have large capital can use the services of the site.
To gain access to all the functions of the exchange, the user must register and verify the account by confirming the phone number and email address. In particular, it gives access to trade without any restrictions on the volume of transactions (per day, week or month).
Deposit and withdrawal of funds on the BTCBOX exchange can be carried out both in bitcoin coins and in yen. At the same time, the national currency of Japan can be used to secure any contracts, regardless of the chosen cryptocurrency pair.
BTCBOX exchange differs from other platforms in the domestic Japanese cryptocurrency market by the presence of a large number of various tools for working with digital and fiduciary funds.
- The service offers investors and brokers the following types of orders for buying or selling investments at the best current prices: Market order, Limit order, Stop order, Take Profit order and Post Only orders.
- User account security is ensured by the Anti-money laundering Bitcoin functions, protection against DDOS attacks, two-factor authentication and the need to enter a PIN code when making any financial transaction.
- Email communication is protected using PGP encryption, and since the creation of the exchange successful hacker attacks have not been recorded.
- Currencies of the trading account: LTC, JPY and BTC.
- You can withdraw funds to a personal account in the Bitcoin system and the Lightcoin address. In the same way, funds are transferred to the internal account of the exchange.
- The commission for any type of transaction is 0.5% of the transaction amount.
- Execution of orders is carried out using Marketexecution, which gives users a guarantee that the order will necessarily be open.
- The exchange interface is available in English and Japanese.
- Margin trading is available for all cryptocurrencies and fiduciary funds supported on BTCBOX.
- The maximum leverage is from x5 to x100, depending on which trading instrument the user has chosen.
- The average daily trading volume on BTCBOX is about $ 170 million.
The BTCBOX cryptocurrency exchange has a round-the-clock support service: a trader can seek help from specialists on any matter of interest to him. The company is also active on social networks Facebook and Twitter. For new users on the official website there is a FAQ section from which you can find out basic information on trading on the exchange.
In 2014-2015, when the company was just starting to introduce the exchange into the domestic cryptocurrency market in Japan, users often complained about low liquidity. However, these claims fell away when in May 2016 the platform began to trade Litecoin and Ethereum.
According to the developers, the main values of BTCBOX are security, reliability and stability of user data in general, and financial transactions in particular. To do this, each wallet transaction is protected by fragmented secret keys – multi-signature wallets.
In order to gain access to trading on the exchange, the user needs to register with personal and contact details, as well as confirm his identity by verification – a copy of an identity document.
In Japan, the BTCBOX exchange enjoys great authority. This is partly due to the fact that the company’s management is pursuing the most transparent policy. The headquarters address and telephone numbers for contacting managers are publicly available on the site, and even an unregistered user can see them.
Account registration and verification
To create an account on the official website of the exchange http://btcbox.in/, you need to click the ‘Sing up’ button, after switching the interface to English.
When you open the site, you immediately pay attention to the fact that, despite the choice of the English-language interface, a significant part of the information is still displayed in Japanese characters. Registration form is standard for many sites.
The user is prompted for an email address and a password. The service does not put forward special requirements for the combination, but we recommend using a set of numbers, letters (typed in different registers) and special characters when creating the password. It is important that the passwords from accounts on different sites do not coincide – this will increase the security of your personal account in case of hacking of one of the sites on which you registered.
In order for a mark to accept the terms of service on the exchange to appear, you must open the agreement and scroll through it. There is no English version of the rules for working with the exchange, only in Japanese. After solving the captcha and pressing the registration confirmation button, a link will be sent to the indicated mail. Going through it activates the account, and the system will offer to verify the mobile number.
After checking the mobile phone number, a form opens to fill out personal data. This is necessary to go through the next stage of verification.
Here you need to select a tab to submit information on behalf of an individual who is not a resident of Japan. Note that the exchange also requires providing information on bank accounts (this is necessary for working with fiat currencies). Verification is a mandatory procedure, without which it is impossible to work with the functionality of the trading platform. It is possible to replenish the account with both fiat and digital currencies only after checking the data by the site administration.
In the security section, you can also connect 2FA and set a trading password to increase the degree of account security.
Trading on BTCBOX
For verified accounts, various ways to replenish the balance are offered. The exchange supports the work with fiat currencies (Japanese yen) and digital coins.
To replenish your account or withdraw funds from the exchange, you need to go to the “FINANCE” section, choose a convenient method and transfer assets to the trading balance of the platform, or order their withdrawal.
To start trading, you need to choose a pair with which you are supposed to work. There are only four cryptocurrencies on the BTCBOX exchange: BTC, BCH, LTC and ETH. All of them are traded exclusively to the Japanese yen. You can select a tool by moving the mouse cursor to the “JPY TRADE” tab.
The trading terminal is quite simple, not overloaded with unnecessary information. The graph can be viewed at different time intervals, but the platform does not provide technical analysis tools. Those who are used to using them will need to turn to other services.
At BTCBOX, it is possible to work with two types of orders – limit and market. The application form is located below the trading pair chart. There are no problems with this – it is typical for most platforms. In addition to trading on capital, the exchange also has margin trading. But only in one pair – BTC / JPY. It is worth noting the low commission on the exchange – regardless of the type of order, it is 0.05% when trading BTC and 0.1% when working with other cryptocurrencies.
Security system and support desk
The reliability and security level of the exchange claims it. During its work, the site was not associated with high-profile scandals; there is no data on successful hacker attacks that led to a loss of funds by users. Mandatory verification makes life difficult for traders, but makes trading as safe as possible. In addition to using the security system of the exchange itself, users have the opportunity to include additional tools to increase account security, including two-factor authentication, SMS control and confirmation of trading operations with a special password.
You can contact the support service for help through the form located in the lower right corner of the site.
The absence of complaints about the work of the support service may be evidence that users have no complaints about it.
BTCBOX exchange is not popular among Russian traders and users of the CIS countries. Despite the possibility of registration and work with it, non-residents of Japan, the platform’s orientation to the domestic market is clearly traced. This is expressed both in the absence of a high-quality English-language interface, and in the formation of trading pairs – all cryptocurrency exchange operations will have to be made through the Japanese yen.
In a nutshell, you can characterize BTCBOX as an exchange service for Japanese users, where you can easily exchange fiat for leading cryptocurrencies, as well as convert digital assets into traditional money.