Zaif

Overview of Zaif

Zaif has been a recognized name in the cryptocurrency trading sphere, especially in the Japanese market and across Asia. It has carved a niche by offering a set of services that combine accessibility with a focus on the local market's needs.

Zaif is a cryptocurrency exchange that has been operational for a significant period. It is based in Japan and has been operating under the regulatory framework of the country's financial authorities. This regulatory compliance gives it a certain level of credibility among Japanese traders. The exchange provides access to a variety of digital assets, including popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Monacoin (MONA), which is a cryptocurrency popular in Japan. By offering a mix of global and locally - favored cryptocurrencies, Zaif caters to the diverse investment interests of its users.

Pros and cons

Regulatory Authority

Zaif is regulated by the Financial Services Agency (FSA), specifically the Kinki Finance Bureau. The regulation number for Zaif is “近畿財務局長 第00001号” and it is currently in a regulated status. The exchange holds a Digital Currency License and the license name is “株式会社フィスコ仮想通貨取引所”. This regulatory framework ensures that Zaif operates in accordance with the guidelines and requirements set by the regulatory agency, providing a level of oversight and security for users.



Security

Zaif implements multiple security measures to protect user funds and transactions. Here are some key highlights:

Cold storage: A significant portion of user funds are stored offline in secure vaults, minimizing online vulnerabilities.

Two-factor authentication (2FA): An extra layer of protection beyond passwords, requiring a secondary verification code for logins and withdrawals.

Multi-signature wallets: Transactions require approval from multiple authorized individuals, reducing the risk of unauthorized access.

Regular security audits: Independent assessments by firms identify and address potential security flaws.



Cryptocurrencies available

Zaif offers a range of cryptocurrencies for trading, including Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These cryptocurrencies are subject to price fluctuations on the exchange, as their values can change based on market demand and supply. It is important for traders to stay updated with market trends and make informed decisions regarding their trading activities.



Services

Zaif provides a wide range of services:

Easy Trading: Simplified and user-friendly trading experience for easy execution.

Orderbook Trading: Access to real-time orderbook data for informed trading decisions.

Automatic Trading (Ranking Trade): Automated trading based on ranking strategies.

Automatic Trading (Otegaru Trade): Automated trading using smart and efficient algorithms.

Coin Reserve: Facility for users to reserve specific coins for future transactions.

Margin Trading: Empowering users to trade with borrowed funds for potential higher returns.

Zaif Payment: Payment services integrated into the Zaif platform for easy transactions.

Crypto OTC Desk: Over-the-counter trading desk for large volume transactions outside the regular market.

Social Tip: Social trading features for users to share and follow trading tips and strategies.

Zaif Card: A specialized card service, possibly linked to the Zaif platform.

Partner Services: Collaborative services offered through partnerships with other entities. Including:

Zaif Research: Research tools and resources to stay informed about market trends and opportunities.

Zaif NFT Marketplace: NFT marketplace for trading and exchanging non-fungible tokens.

Zaif INO: Initial NFT Offering, potentially a fundraising or token issuance service within the platform.



Zaif APP

The Zaif app facilitates crypto trading with a redesigned UI for one-handed operation. Its features cover buying/selling, deposits, withdrawals, and member registration. The interface aims for daily ease of use. Supporting various products, including major stocks (BTC, ETH) and exclusive offerings (CICC, MBX in Japan), the app serves various user needs. Notably, the “Easy Buying and Selling” feature suits both beginners and experienced traders for instant transactions.

The app is available on Google Play for Android and the App Store for iOS, providing a convenient, secure, and neutral mobile trading experience.



How to open an account？

The registration process on Zaif typically involves the following steps:

1. Visit the Zaif website and click on the “Register” button to begin the registration process.



2. Fill in your email address, password, and any other required personal information in the registration form.

3. Verify your email address by clicking on the verification link sent to your email.

4. Complete the account verification process by providing any additional required identification documents, such as a valid ID or proof of address.

5. Set up two-factor authentication (2FA) for added security by linking your Zaif account to a 2FA app or receiving SMS codes.

6. Once your account is fully verified and set up, you can start funding your account and begin trading cryptocurrencies on Zaif.

How to Buy Cryptos？

Whether you're using the Zaif website or app, the basic steps for buying crypto are similar:

• Account Verification: Complete KYC/AML verification on either platform before purchasing crypto.
• Fund Your Account: Deposit Japanese Yen (JPY) via bank transfer, credit card, or other supported methods.
• Choose Your Crypto: Browse the available currencies and select the one you want to buy (e.g., Bitcoin, Ethereum).
• Select Trading Mode:
• Website: Choose between Easy Trading for quick buys/sells or Orderbook Trading for advanced control.
• App: Select Quick Trade for a simplified interface or Trading for the full orderbook and charting options.
• Place Your Order:
• Easy Trading: Enter the desired amount of crypto or JPY you want to spend.
• Orderbook Trading/Trading: Set your order type (limit, market), price, and amount.
• Quick Trade: Choose your desired amount of crypto to buy or sell.
• Review and Confirm: Double-check all details before confirming your order.
• Wait for Completion: Your order will be filled based on market conditions. You can track its progress in the order history section.

Fees

Zaif charges trading fees for both market makers (those who provide liquidity to the exchange) and market takers (those who take liquidity from the exchange). The trading fees vary depending on the trading volume of the user, with higher volume traders being eligible for lower fees. For market makers, the fees range from 0% to 0.10%, while for market takers, the fees range from 0.10% to 0.15%.



Deposit & Withdrawal

Zaif offers flexibility in deposit and withdrawal methods, including

• Bank Transfer: Available from major Japanese banks, with varying processing times and minimums depending on the bank.
• Credit Card: Limited to JCB cards issued in Japan, with instant processing but higher fees.
• Convenience Store Payments: Pay in cash at specific convenience stores nationwide, with instant processing but limited daily amounts.
• Zaif Payment: A prepaid card option offering discounts on fees and instant processing.


Deposit and Withdrawal Fees at Zaif:

For deposits, bank transfers bear the customer's transfer fee. Convenience deposits incur 495JPY for less than 30,000 yen and 605JPY for more. Pay-easy deposits follow the same structure. Credit card payments come with a 3.5% system usage fee.

Withdrawals via bank transfer in Japanese yen cost 385JPY for less than 30,000 yen and 770JPY for more substantial amounts. Cryptocurrency withdrawal fees vary. For BTC, it's 0.0001 - 0.01 BTC, XYM is 2 - 20 XYM, XEM is 2 - 20 XEM, MONA is 0.001 - 0.1 MONA, and so on, with each cryptocurrency having its specific range. Users should consider these fees when managing their assets on the Zaif platform.



FAQs

Q: What cryptocurrencies can I trade on Zaif？

A: Zaif offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Ripple, and more. Users can explore different options and diversify their portfolios.

Q: Are there any fees for cryptocurrency deposits on Zaif？

A: Zaif does not charge any fees for cryptocurrency deposits. However, users should be aware that there may be withdrawal fees associated with specific cryptocurrencies.

Q: How long does it take to complete a cryptocurrency withdrawal on Zaif？

A: The processing time for cryptocurrency withdrawals can vary depending on the specific cryptocurrency and network congestion. Generally, it can take a few minutes to a few hours for the transaction to be confirmed and completed.

Q: Is Zaif regulated by any financial authority？

A: Zaif is a Japan-based exchange regulated by the Financial Services Agency (FSA). This regulatory status provides a certain level of oversight and protection for users' funds.