The article talks about the most important features of the exchange. Learn everything you need to know about brokerage’s security, volume and fees.
What is Zaif?
Zaif is a modern Japanese cryptocurrency exchange with an established reputation within the local brokers. The platform is one of the oldest ones, providing its clients with extended features and enhanced technical abilities. Seven months after a hacking attack, Zaif has managed to transfer the business from Tech Bureau to Fisco Digital Asset Group (FDAG) that enabled the Exchange to recover some of the costs associated with the attack and refund users’ money.
The company’s website is available in English and Japanese languages. However, the user agreement and individual paragraphs are not fully translated. The main page features the trading conditions, stocks, commissions and current value of cryptocurrency. There is also a special form for contacting technical support and a FAQ section where customers can find answers to frequently asked questions.
How Does Zaif Work
In numerous exchange reviews, users point out the handy application interface. With the Zaif mobile app, traders can analyze charts, conduct transactions and monitor the value conjunctions of the cryptocurrency at any convenient time. The site maintains Android and iOS operating systems. What is more, the application is attached directly to the wallet, which allows the trader to issue a request for funds withdrawal in a matter of seconds.
Zaif cryptocurrency exchange is going gradually beyond the Asian market. Over its period of existence, the company managed to implement several features that stand out from other platforms:
This option enables the exchange to use blockchain technology.
- Social tip
This is an automated way of social trading designed to send tips and signals.
- Instant Exchange
Zaif supports a trading interface called “Instant Exchange”, through which users can instantly buy Bitcoin for JPY.
Security is ensured through the use of advanced SSL encryption and “cold wallets”. Although the platform uses 2FA, the system did not manage to prevent a hacker attack, from which the exchange lost 60 million USD. Hopefully, the new owner will provide the broker with better and secure management.
How To Trade On Zaif
The exchange offers both fiat-crypto and crypto-to-crypto trading options. Fiat-crypto trading can be done in the local Japanese currency of JPY. Both bank transfers and credit cards are used to deposit fiat currencies. Likewise, various cryptocurrencies presented on the website can be deposited into an account. Zaif charges low trading fees (0.01%), which is lower than the global industry average. After the account replenishment, you can immediately start earning money on the exchange. At the moment, there are two trading options available:
- Instant cryptocurrency exchange
- Classic trading
Enter the “Instant Exchange” section, and choose the cryptocurrency you want to trade.
The cryptocurrencies available for trading are presented in the “Trade” section. This includes BTC, ETH, BCH, MONA, NEM, and COMSA. The most popular types of tokens are also available here.
The main features of the Zaif exchange include:
- Online Price Chart
These currency charts use live mid-market rates, are easy to use, and are very reliable. With technical indicators, the user can change the timeframes and modify the scale.
- History of Transactions
This is a very useful feature to check the transaction history of your trading accounts.
- The Order Window
The exchange has 2 types of orders: regular and margin (the presence of margin trading is one of the advantages of the platform).
Is Zaif Safe?
For the security of personal information and user’s assets, Zaif uses the following methods of protection:
The crypto exchange uses cold wallets. Cold wallets are systems isolated from the Web on which your currency is stored. Prior to money withdrawal, the user needs to verify several confirmation letters. Zaif developers have also added a two-factor authentication system (2FA) to the website. The system requires the user to associate their profile with personal phone number. Therefore, to enter your profile, the code from SMS should be provided.
Building on the information provided, we can conclude that Zaif is a cryptocurrency exchange you can trust. The exchange has bitcoin futures trading, which is an advantage for those who are looking for more than just the simple features. The platform provides excellent conditions for transactions and pleases customers with low commissions, instant exchanges and up-to-date schedules.