The number of exchanges supporting Ethereum is slowly starting to increase, which goes to show the genuine interest in the popular digital currency. Now that the largest Bitcoin exchange in Japan has added ETH to their platform, things could get fascinating in this region of the world. Buying and selling Ether can be done through credit cards and international wire transfers, which could open up arbitrage opportunities in the future.
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Up until a few months ago, there was very little discussion about Bitcoin and other digital currencies in Japan. Not that there was a ban against digital currency in the country, though, but Bitcoin and consorts just never managed to gain significant traction in Japan for some reason. Slowly but surely, that situation is changing in favor of cryptocurrency.
Coincheck – the largest Bitcoin exchange platform in all of Japan – has been getting a lot of attention as of late, which has translated into a decent amount of trading volume as well. Part of this success can be attributed to how easy Coincheck makes it to buy and sell digital currency, as the platform supports a variety of payment methods, all of which are designed to make the process as smooth and fast as possible.
Users of this digital currency exchange platform can use bank transfers or credit cards to purchase Bitcoin, and now Ethereum as well. International transfers will have to be denominated in USD value, though, which will be converted to its equivalent JPY value when the funds arrives in the Coincheck account. This process will be completely free of charge, which is a good way to attract international digital currency traders.
Moreover, the Coincheck platforms offers a few tools for advanced traders as well, such as leveraged, stop-loss, and margin trading. Additional features will be added in the future, including the option to participate in future trading, The addition of Ethereum to this Bitcoin exchange platform is kind of interesting, although they will not be the last Bitcoin exchange to do so.
It will be interesting to see how much volume COincheck can generate over the next few months. There is no denying the demand for Ethereum is quite big these days, and expanding the global markets to Japan is a significant move. Regardless of how this decision plays out in the end, the future’s looking bright for Ethereum and its community.
Source: Reddit
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