Coincheck Lets Users Buy The DAO Tokens With JPY

More and more exchange platforms have announced they will add support for trading tokens related to The DAO. Coincheck will be the first Japanese exchange to do so, and users will be able to transfer their funds later today.

The DAO Tokens Trading On Coincheck

TheMerkle_The DAO Coincheck

Now that The DAO crowdsale will be coming to an end very soon, a lot of investors are looking to trade their tokens on cryptocurrency exchanges. Most people expect the value of this token to go up in price, although that may turn out quite differently regarding the new security proposal we reported on earlier today.

Coincheck is one of the leading Bitcoin exchanges in Japan, and they have announced support for trading The DAO tokens as of today. There is a lot of money to be made by exchange owners when supporting this trading market, as there will be a lot of people looking to both buy and sell their tokens over the next few weeks.

Individuals who have been following this crowdsale will know today is the cut-off date for investing in the project. With close to US$150m collected during this sale process, there has been a lot of interest in The DAO. However, it is very likely a lot of tokens will be sold across exchanges in the first 72 hours as well.

Coincheck users will be able to buy The DAO tokens through JPY, similar to how the platform lets users buy Bitcoin and Ethereum. Credit card payments are not supported from day one, but they will be enabled shortly. But there is more, as Coincheck will be offering a complete The DAO token wallet solution as well, albeit it is advised to move these tokens to a user-controlled wallet at some point.

It is positive to see Japanese cryptocurrency exchanges continue their push to bring more positive attention to this ecosystem. Over the past few months, there has been a lot of exciting news coming out of Japan as far as Bitcoin and Ethereum are concerned. Coincheck will have a first-mover advantage by support The DAO tokens trading, and other changes are expected to follow this example.

Source: Press Release via Email

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.