Introducing recommended exchanges for beginners of virtual currency (crypto assets)!

“I want to start cryptocurrency (crypto assets), but which exchange is good?” Many people may be wondering like this.

However, at the same time, the number of virtual currency (crypto asset) exchanges is increasing, so you may be wondering which one to choose.

So, this time, I will introduce “virtual currency exchanges recommended by GuildQB members”. All exchanges are easy to use even for beginners, so if you are unsure, please refer to them.

Recommended virtual currency exchange

① GMO coin

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GMO Internet Group, a company listed on the First Section of the Tokyo Stock Exchange, is a safe and secure cryptocurrency exchange .

Even beginners can easily start GMO coin because it has “Japan’s largest trading stock” among many virtual currency exchanges .

In addition, we provide various services such as “exchange”, “sales office”, “crypto asset FX”, “credited crypto assets”, “staking”, etc. You can keep using it.

Advantages of GMO Coins: Easy to use even for beginners

GMO coins have a reputation for being easy to see and easy to use.

We have also adopted “Easy Identity Verification” so that even beginners can use it easily. Since registration is completed in as little as 10 minutes, it is an advantage that you can trade immediately . In addition, it can be said that it can be used as a main account because there are transaction forms that can be used according to the purpose.

In addition, you can also do “Tsumitate Crypto Assets”, which is currently attracting attention.

Disadvantages of GMO coins: Pay attention to the minimum withdrawal amount

With GMO coins, you can deposit from 1,000 yen, but the minimum withdrawal amount is 10,000 yen .

If you misunderstand this rule, you will panic saying “I can’t withdraw!”, So it is important to understand it.

Recommended cryptocurrency exchange

② FTX JAPAN

FTX JAPAN is a (virtual currency) exchange operated in Japan by the world’s top-class exchange “FTX”. Trusted and supported by all levels of users worldwide, from beginners to advanced users.

FTX Japan will start airing its first TV commercial in Japan on July 18th, featuring Shohei Ohtani of the Los Angeles Angels.

Advantages of FTX JAPAN: Various crypto assets can be traded at reasonable fees

The advantages of FTX Japan are that there are no deposit and withdrawal fees for Japanese yen, and that you can trade 17 different currencies with reasonable fees .

At domestic exchanges, you can purchase “Solana (SOL)” directly, not via overseas, which only FTX Japan can do. Perpetual trading (perpetual futures trading) and referral programs with mutual benefits are also substantial.

Cons of FTX JAPAN: Designed for traders

FTX JAPAN is designed for traders, so exchanges and leverage trading cannot be performed from the app. It has a simple interface that is difficult to understand for those who are not familiar with it. Therefore, it is a disadvantage that the hurdle is high for beginners.

Recommended virtual currency exchange

③ BINANCE

Binance was established in Hong Kong in 2017 and is the world’s number one cryptocurrency trading volume and number of users . In 2018, we moved our headquarters in response to the virtual currency regulation by the Chinese government.

Binance Advantages: World’s largest exchange, over 370 stocks and ease of use

Binance is the world’s top cryptocurrency exchange in terms of number of users and monthly trading volume. The transaction screens on the site and app are very easy to use, the support is substantial, and it is also available in Japanese, so you can rest assured.

Also, unlike domestic exchanges , handling more than 370 types of virtual currency stocks is one of the biggest advantages. In addition to spot trading and derivative trading, we also offer a wide range of services such as staking services, NFT marketplaces, and liquidity swaps.

In futures trading, it is possible to trade with leverage of up to 20 times.

Binance Disadvantages: 2019 Hacking Incidents, Maximum Leverage Reduction

BINANCE has the advantage of having many types of stocks, but the disadvantages are “lowering the maximum leverage” and “has been hacked in the past” . In a hacking incident in 2019, a black hacker stole about 7000 BTC (about 4.5 billion yen). Regarding this incident, BINANCE compensated using the SAFU fund for the purpose of user protection, so there was no impact on users.

Thanks to such quick measures, we were able to draw out the strengths of a major company called BINANCE, but it can be said to be a disadvantage for those who are concerned about security.

In addition, the maximum leverage was set to 125 times until now, but now the maximum leverage has been reduced to 20 times. This is one of the disadvantages for those who want to do high leverage trading.

Recommended virtual currency exchange

④Bybit

Bybit is a world-famous cryptocurrency exchange founded in Singapore. Used by 6 million people, it is a safe and easy-to-use platform for beginners and experienced users alike.

Since the system is created based on user feedback, it covers the parts that make you feel uneasy when using an exchange, such as security.

Bybit Benefits: World’s Top Exchange, Easy to Trade Crypto Assets

As a feature of Bybit and the benefits of using it, even beginners who are not familiar with trading crypto assets (virtual currency) can easily purchase and trade from the “smartphone app”. Therefore, even those who think “I’m worried about operating on a PC” can feel free to trade.

It also features high security , and uses a multi-sig cold wallet to safely store and manage user assets.

In addition , “low fees” and “high leverage” are also advantages of Bybit. Bybit has a maximum leverage of 100x and uses a zero cut system. The zero cut system is a system in which the trader bears the loss caused by the loss cut not being made in time when the market fluctuations suddenly move. With this lost cut, it supports users to start with low risk. 

Cons of Bybit: High taker fees

Bybit is perfect for loss cuts and security, but the disadvantage is that the taker fee is high .

Commonly used overseas exchanges charge no fees, but Bybit charges a taker fee of 0.075%. A fee of 0.075% is not “extremely high”, so you don’t have to worry about it.

However, the disadvantage is that it is a little expensive for an exchange that has such a perfect system.

Recommended virtual currency exchange Summary

This time, we introduced the “virtual currency exchanges recommended by GuildQB members”.

Understand the ease of use and precautions for each, find the exchange that suits you, and protect your assets by trading safely.

If you are wondering which virtual currency exchange to use, please refer to this article.

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