Zaif
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3.3
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zaif.jp
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Japan's largest crypto exchange offers the user profitable trading in cryptocurrencies and many convenient options for work.
Cryptocurrency exchange
Official website
Social network
Date of foundation
1970
Head Office
Japan, Osaka Prefecture 1-4-1 Nishihonmachi Nishi-ku, Osaka Shi Orik Honcho Building 4F
Types of support
Help Center
Phone Support
Languages
English, Japanese
Company owner
Fisco Cryptocurrency Exchange Inc.
Age restrictions
From 18 years
Trading volume per day
11192322 millions USD
Number of cryptocurrencies
11
Margin trading
Yes
Tokenized assets
No
Free demo account
No
Types of accounts
Order execution
Market Execution (at market price), Stop Orders
Methods of replenishment
Bank card, Wire transfer
Withdrawal methods
Bank card, Wire transfer
Account Currencies
USD, Cryptocurrency, JPY
Types of cryptocurrencies
Bitcoin, NEM, Monero, Bitcoin Cash, Ethereum, et al.
Licenses
Licensed
Mobile apps
No mobile apps available
Trader training
No
A way to store cryptocurrencies
Cold: yes
Hot: no
Fiat accounts
Yes
Scalping
No
Stop loss and take profit function
No
Possibility to exchange for fiat currencies
Japanese Yen
Basic verification
Two-factor authentication
Advanced AML verification
API
http://zaif-api-document.readthedocs.io/ja/latest/index.html
Affiliate Program
RegistrationReferral bonus
Advantages
Exchange officially registered in Japan
Convenient and simple site
High level of security and liquidity
Good choice of cryptocurrencies
Disadvantages
There is no russian version of the site
Problems with verification
Overall assessment
4.8/10
Date of update
May 11, 2023
    Address
    Japan, Osaka Prefecture 1-4-1 Nishihonmachi Nishi-ku, Osaka Shi Orik Honcho Building 4F

    Zaif is this a scam? Review and Reviews

    Published: 16 April 2018 Updated: 11 May 2023


    Zaif Exchange – one of the largest platforms cryptocurrency trading on the Japanese market. Popular digital coins are available for work: Bitcoin, MonaCoin, Ethereum, NEM, COMSA and others. Of fiat money, only the Japanese yen is available.

    Still, is Zaif a scam or an attractive and reliable exchange, where you can easily trade cryptocurrencies and withdraw your earnings in time? The answers to these questions you will find in our review of the exchange.

    Zaif is a scam? Reviews

     

    Why Zaif?

    Ziaf is a popular Japanese cryptocurrency trading platform, which appeared on the financial market in 2014. During this period, the project actively developed and got a good reputation among users. Although the service focuses specifically on the international market, the interface of the official website is presented only in English and Japanese. The disadvantage is the lack of a Russian-language version of the platform, which complicates the trading process for traders from the CIS countries. The main office of the company is located in Japan, where the control of the project.

    The platform is suitable for both inexperienced traders and professionals. Training materials are provided for beginners. The disadvantage of the platform is that some sections and information on the site zaif.jp. is not translated into English. The trading terminal itself consists of several sections:

    • on the left there is a chart for the selected trading pair;
    • below you can find information about available cryptocurrencies and order to buy and sell cryptocurrencies;
    • On the right, the trader can read the trading history and write to the general chat.

    Zaif reviews of the platform

    At the moment, the company does not have its own mobile application. The development of the application will allow customers to quickly access the functionality of the site using their smartphones. In 2017, the country’s government (more precisely, the Financial Services Agency of Japan (FSA) issued the site an official license for exchange activities. The company’s plans for the near future are to establish itself in the local market and enter the global arena. The platform is expanding partnerships, the last contract was signed with COMSA, a startup for the development of new ICO projects. Zaif occupies the 20th position in the ranking in terms of transaction volumes (according to CoinMarketCap website), the trading volume per day is more than $160,000,000. Zaif crypto-exchange allows not only to trade digital coins, but also to use a lot of additional features. A joint project with Monocoin allows you to pay for any services or goods with bitcoins (they are automatically converted into yen during mutual settlement). So far, only Japanese residents have access to this function.

    With Manepa Zaif created a cryptocurrency wallet that works in conjunction with a payment card (Manepa Card). From the account of the platform it is offered in the shortest time and without commissions to transfer cryptocurrencies to the card and pay with it in any country of the world. You can get cashback up to 2% for each transaction, this offer is only valid for traders from Japan. Zaifcoin Reserve service configures automatic purchase of bitcoins from a bank account at the average market price. Investments of $9,000 to $9,000 are offered daily.

    Now more about the bidding. Crypto Exchange uses Air Fight Exchange – an opportunity to conclude a futures contract for bitcoins. Using this tool, you can sell cryptocurrencies at market value. Another advantage: the platform offers favorable leverage, with which you can earn 25 times more money. However, it is necessary to keep in mind the risk of losing the difference when the price of the selected cryptocurrency drops. The resource allows for margin trading for other orders as well, which can be purchased with the credit currency funds provided by the exchange.

    An important advantage of the site should be considered a negative commission for certain transactions. That is, the Zaif system itself will pay the trader for carrying out operations with finances. This is due to the level of deflation in Japan and to stimulate users, the exchange offers users a certain amount of surcharge – a negative commission, which is valid only for operations on bitcoin/Japanese yen pair. It is -0.05% when buying and -0.01% when selling. For trades in other cryptocurrencies (The whole truth about cryptocurrency) Commissions, although positive, are quite small. Let’s note the modern design and convenience of the site’s interface, which has separate tabs for buying/selling bitcoins and other currencies. For analytics are available: sales chart, window with trading history, rates (price, limits and other parameters for making a deal), as well as actively working online chat to communicate with traders.

    Zaif Exchange offers not only the website, but also its own mobile app for trading (and even withdrawals). There are versions for both Android and iOS. The platform strives to make its users and information about the transactions carried out within the service as secure as possible. To this end, it uses mandatory verification of the trader before trading, setting the account security parameters (authentication), e-mail notifications. It is offered to purchase hardware wallets made on the basis of USB carriers, which are reliable “cold storages” of clients’ funds.

     

    How to exchange cryptocurrency on the zaif.jp platform?

    To exchange cryptocurrency, the trader should register on the project and go to the tab “Instant Exchange”. Then it will be necessary to perform a few simple actions:

    • choose a trading pair;
    • fill out an order specifying the amount of cryptocurrency to be exchanged;
    • press the corresponding button.

    The platform has an interesting history of development. It officially opened in 2014 thanks to Tech Bureu Inc. which acquired the Etwings platform (currency exchange) and on its basis created Zaif Exchange. Next, the modernization phase began, attracting Nippon Technology Ventures Partners, which invested $835,000 in the development of the site. After that, extensive work was organized to expand the functionality of the platform. By early 2016, the trading volume had already exceeded $19,000,000. At peak moments of customer activity, the exchange accounted for about 64% of all bitcoin transactions (How to make money on bitcoin?) in the pair with the Japanese yen. Currently, these figures are only growing: the turnover of this pair has increased to 54,000,000 dollars. After the closing of Mt. Gox (the largest cryptocurrency exchange Japan) Zaif has every chance of taking her place.

     

    Verification on the Zaif platform

    Verification is a mandatory process on the exchange and consists of several stages. First, the client needs to register and confirm the email address. The next step is to fill in personal information:

    • type of account – personal or corporate;
    • country of residence;
    • nationality;
    • first and last name;
    • gender;
    • date of birth;
    • zip code;
    • address and house number;
    • phone;
    • profession;
    • annual income;
    • state of financial assets.

    zaif.jp verification

    After that, the client will need to answer a few questions, indicate the purpose of using the platform and experience in trading cryptocurrency. The next step is to confirm the user’s identity. To do this, it will be necessary to upload a scan or color photo of the spread of the trader’s identity document (passport, driver’s license or ID-card), as well as a photo of the client with the spread of the document in his hands. On average, the identity verification process takes from several days to several weeks, after which the user receives full access to the platform’s functionality.

     

    Deposit and withdrawal

    Before depositing funds into the account, you will need to go through a two-step verification. First, you confirm your phone number (authentication via sms-code), then you upload the scanned copies of documents to the system at your choice: passport, international driving license, ID-card, passport of Japanese citizen (the last 2 items are available for residents of the Land of the Rising Sun). After that, you need to confirm the registration with any of the documents: it is a utility bill, health insurance, registration, or any other official paper with your name and residence address. Additionally, the service may request to add to the account your photo with ID-card or passport.

    When depositing funds into your account, you need to go to the Account tab, select the desired cryptocurrency (How to Make Money on Cryptocurrency?) and click on it. The platform generates a unique address and asks for a link to a payment card to recharge. Important: only Japanese yen is accepted for payment. Replenishment via card takes up to 3 hours, via bank transfer – up to several days. There is no commission for this transaction. To withdraw Cryptocurrencies bank transfers, electronic wallets, Manepa Card are available. There is also no withdrawal fee. But if you need to withdraw a balance up to 500,000 yen, you will need to pay an additional 350 JPY, if the amount is more than 500,000 – 756 JPY.

    Zaif payment systems

    Cryptoexchange Commission

    On the exchange website zaif.jp. There is information that there is no commission for trading digital assets. However, it is worth considering the fact that the company charges an account maintenance fee:

    • <10,000 yen – 0.1%;
    • 100,000 yen – 0.3%;
    • 500,000 yen – 0.5%;
    • 1,000,000 yen – 0.7%;
    • 1,000,000 yen or more – 1%.

    Zaif Commission

     

    Zaif Bonuses

    From time to time on the website zaif.jp. information about various special offers appears, but at the moment no promotions or bonuses are envisaged.

    Referral program

    For active traders who want to earn extra income, an affiliate program was developed. As part of the program, clients can invite new participants to the project and receive remuneration for this:

    • 1000 yen for passing the verification of the referral;
    • 10,000 yen when a referral exchanges the equivalent of 1,000,000 yen;
    • other bonuses.

    zaif.jp affiliate program

     

    Complaints about Zaif

    Zaif Exchange can rightfully be called the leader of the cryptocurrency market in Japan. The work of this platform was approved by the country’s government (an official license was issued for the possibility of exchange activities). The company offers not only trading operations, but also a huge list of additional tools: manually set investments in bitcoins (Zaifcoin Reserve), issue of Manepa wallet, service from Monocoin, Air Fight Exchange, mobile application of the exchange. Due to the large list of features, low deposit/withdrawal fees, availability of an official license (FSA Japan) the platform enjoys great interest from traders. There are many customer reviews on the network, most of which are positive.

    Let’s list some of the disadvantages of the site. The presence of a version of the site only in Japanese and English. Note that the exchange is constantly evolving and seeks to enter the international market, that is why there is a possibility of the soonest appearance of the resource in other languages. The long answer from the support team. If you have questions, you can ask the company’s representatives through tickets (online chat on the site is not available). Processed letters only on weekdays from 10:00 to 17:30 (UTC/GMT +9 hours). However, all messages are replied to users. Compulsory verification. The procedure is divided into several stages (phone number confirmation, uploading copies of documents confirming the trader’s identity and location) and may take up to 2 weeks. But such process is necessary to ensure maximum security of work in the system.

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    Regulation of the Zaif crypto exchange

    Zaif officially registered in Osaka, Japan, and is subject to the laws of that country, is regulated by the Financial Services Agency of Japan (FSA). Personal information of users specified in the accounts of the service, as well as all data on the transactions carried out within the platform, is not distributed to affiliated third parties. To ensure internal security policies, the platform notifies customers about the use of cookies to obtain customer information.

    When registering, the trader is offered to set up e-mail notifications about the actions performed within the exchange, two-factor authentication (via sms-code). Currencies that are not currently involved in trading are stored in “cold” wallets (a system isolated from the Internet). This helps to further secure the funds in the account. For the withdrawal will be required to obtain confirmation (Multi-Signature) from the administrators of the exchange. The company maximally strengthens the backup data management (confirmation of each step). Anti-money laundering measures and KYC standards are actively used.

    In 2018, Japanese authorities plan to conduct inspections of cryptocurrenciesThe site has already received an official license, so it has a chance to pass the procedure without any losses. Recall that this site has already received an official license, so it has all chances to pass the procedure without any losses. It is worth emphasizing that Zaif exchange has never been hacked, which proves the maximum level of its security.

    zaif.jp user agreement

    The “User Agreement” is the main document that every trader should read before starting to cooperate with the project. The agreement specifies the basic information about the rules of trading activities, as well as the rights and obligations of clients and organizers. The disadvantage is that the document is in English, which can create difficulties for users from the CIS countries. Let us consider some points in more detail. The agreement specifies the information that it is the participant who bears all responsibility for the damage caused:

    • the ID or password is leaked for a reason attributable to the participant;
    • unauthorized use or the like of an account by a third party using such a leaked login ID.

    If a customer becomes aware that a username or password has been stolen or used by a third party, the customer must notify the company immediately and follow the instructions.

    Zaif user agreement

    In turn, customers should understand each of the following specifications and hereby agree to them in advance:

    • the company does not guarantee that the services will be provided at all times;
    • the organizer may change the service specifications from time to time in accordance with this article;
      the company does not guarantee that the data sent to customers when using the services will be securely stored when used indefinitely;
    • events may occur that make it impossible or difficult to continue to provide services because of errors in the telecommunications environment, natural disaster, fire, war, terrorist acts or other reasons, in which case the company may suspend or discontinue all or any part of the services or systems without notice;
    • the organization may suspend or discontinue all or any part of the services or systems without prior notice to users for purposes such as performing maintenance (e.g., managing and maintaining systems) or performing upgrades to improve system performance;
    • the company makes every effort to ensure security, such as services that are free of malicious content and security measures that are effective, but does not guarantee that the services are secure or complete, or that they are free from errors or defects.

    Zaif consent to the terms of the agreement

    By engaging in transactions using the services, customers understand in advance that transactions conducted through the site carry the risks outlined below:

    • virtual currencies processed through the services are neither Japanese currency nor foreign currency, and the value of virtual currencies is not guaranteed by the company or any third party, including the risks of decline or loss of value of virtual currencies;
    • the organizer makes no guarantees regarding the value, function, use or purpose of the virtual currencies processed in the service;
    • each client must find out, at his or her own expense, whether his or her use of the services violates any laws or regulations, internal rules of industry bodies, etc., applicable to the participant.

    The company, in turn, makes no warranty as to whether the use of the services complies with laws or regulations, internal rules of industry bodies, etc. applicable to the user:

    • all transactions, communications, disputes, and the like arising between the user and any other party or third party in connection with the services or the website shall be handled and resolved under the responsibility of the customer;
    • the service does not guarantee that it will indemnify the customer for any damages caused by the interruption, suspension, termination, unavailability of or changes in the services or the deletion of member communications or information, cancellation of registration, deletion of data relating to the use of the services, or malfunction or damage to devices, or any other damages.

    zaif.jp guarantees

    All computers, software and other devices, telecommunication lines and other telecommunication environments, etc. necessary to receive the provision of services must be prepared and maintained by the user (including installation of necessary applications) at the expense and responsibility of the client. All security measures, such as prevention of computer virus infections and prevention of unauthorized access and information leakage, must be taken by the participant at his own expense and responsibility in accordance with the environment in which the trader uses the services. In accordance with applicable laws and these terms of use, the client shall compensate for any damages caused by the company due to violation of these terms of use or in connection with the trader’s use of the services.

    Zaif Terms of Service

    The organizer has the right to change these terms of use in accordance with this agreement and applicable law. In turn, each user acknowledges that these terms of use are subject to change and must review the site regularly. If the company changes the conditions, a notice will be published on the website and the client will be notified by e-mail. If the customer does not agree to such changes, he/she must stop using the services and cancel his/her registration as a member within 30 days from the date such notice is posted on the website. If the user does not cancel his or her registration within 30 days from the date the notice is posted on the website in accordance with the previous paragraph, he or she will be deemed to have agreed to such changes in these terms of use.

    Zaifa

    Customer Service

    The customer can contact a technical support representative by using:

    • feedback forms;
    • social media.

    Also, before contacting support directly, the user can read the information provided in the support center. Answers to the most popular customer requests are collected here.

     

    Zaif is This a Scam?

    The process of development Zaif crypto exchanges can be compared to a rapid and turbulent flow. Back in 2014, the company began its work as a simple currency exchange platform. Already in 2 years the volume of trading operations began to be measured in millions of dollars. Another year later, the site received an official license for exchange activities from the Financial Services Agency of Japan. At the moment, Zaif can easily take the first line in Japan’s ratings and enter the world arena.

    There are all the prerequisites for this. The company is developing in the cryptocurrency market: there is a convenient interface of the site; the data is updated every second; the resource is presented in Japanese and English (in the future it is planned to translate into other languages); the commission for deposit and withdrawal is minimal (and for the most popular trading pair on the exchange even negative); trading is conducted on the most popular types of cryptocurrencies (How to Make Money on Cryptocurrency?), the list of which is also planned to be supplemented; its own mobile application. The exchange guarantees true Japanese quality and security: mandatory verification, two-factor authentication, cold currency stores, etc.

    In addition to all of the above, Zaif offers many additional tools: customizable bitcoin investments (Zaifcoin Reserve), Manepa wallet issue, service from Monocoin, Air Fight Exchange. At the moment, it is almost impossible to find a platform on the market that could compete with Zaif in terms of the number of high-tech services. Yes, at this stage the company is more focused on the domestic market, but the development and expansion of the platform is a matter of time.

    Can we call Zaif crypto-exchange a scam, a scam and a scam? The answer to this question is obvious – no. This decision was influenced by a huge number of factors: user-friendly and simple interface, up-to-date information necessary for trading, maximum protection of traders’ funds, low commission rate, as well as a large number of positive feedbacks about the platform from experienced and novice traders.

     

    Conclusion

    Overall, Zaif – is a popular platform, where you can comfortably trade and make excellent money. The turnover of funds on the platform of the resource is constantly increasing, which means that this exchange has good prospects for the future. Additionally, this is confirmed by a large number of positive feedback from users of the service, a rich functionality of the site, a high level of security and minimal commissions for deposit and withdrawal of funds.

    Project Editorial It’s a Divorce™. will not consider Zaif to be a scam. In the comments to the review we are waiting for real reviews of traders about the platform. It is your opinion and messages that will help to inform traders about possible problems with the resource and change its rating on our portal.

    Exchange Commission
    60%
    Transaction speed
    60%
    Reliability
    80%
    Technical support
    60%
    3.3

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      Exchange Commission
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      According to user reviews, Zaif has everything...

      According to user reviews, Zaif has everything an ordinary trader needs. However, users point out some difficulties of working with fiat currencies. The thing is that among fiat currencies only yen is available here, which creates additional difficulties for Russian traders, because it is simply impossible… Read more

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