Btcbox (btcbox.co.jp) REVIEW, TRADING VOLUME AND PAIRS
Btcbox is a large Japanese crypto-exchange, which was registered in 2014, and has become quite popular in Japan, but not abroad. Nowadays, the website trades only several pairs, among which are BTC/JPY, BCH/JPY, LTC/JPY, and ETH/JPY, and the daily turnover is 10.5 million dollars. The official website btcbox.co.jp was translated into Japanese, Chinese, and English languages, but the vast majority of the exchange's customers, due to its orientation to the domestic market, are investors from Japan.
The exchange has not only a web version but also an official app for Android and Apple devices. You can download them to your mobile device through Google Play and the App Store.
Registration and verification on btcbox.co.jp
To start working on the exchange, you need to register an account. To do this, click on the Register button at the top right corner of the page btcbox.co.jp and fill out the registration form, specifying the contact email and the desired password. After clicking on the Agree and Sign Up buttons, you will receive a confirmation email. By clicking on the link in the email, you will complete the registration of a new account. After that, you will only need to verify your phone number, which is also easy. When the phone number is confirmed, proceed to the next step – account verification.
To verify ab account, you need to specify your full name, country of registration, gender, bank details, place of registration, and other data. Please note that the quality of English translation is low, so it may be difficult to understand what the website administration wants from you. If something is unclear, feel free to use a translator.
When verification is complete, you will need to activate the trading password, which will protect your trading capital from unauthorized access. You can do this in the Security section, which is located at the top of the page. The trading password should be entered when performing any transactions through the trading cabinet.
Btcbox boasts one of the lowest trading commissions, which varies depending on the specific currency. For BTC, it is 0.05%, while for BCH, LTC, and ETH - 0.10%. Besides, the platform does not charge money for depositing funds, and the withdrawal fee is fixed and individual for each currency – 0.001 for BTC, 0.001 for BCH, 0.002 for LTC, and 0.01 for ETH. To deposit in Bitcoin, you need 2 transaction confirmations, to deposit in BCH, you will need 8 of them, in LTC - 3, and ETH - 12.
Among the positive aspects of the platform we can highlight:
• Convenient and concise interface;
• Very low trading fees;
• High security level;
• Margin trading;
• Mobile version of the website.
The negative aspects of the project are manifested in:
• Low-quality translation of the interface;
• Limited choice of trading pairs;
• Mandatory verification procedure;
• Difficulties in entering fiat currency for non-residents;
• Trading pairs are tied to the Japanese Yen.
When evaluating, it should be borne in mind that the platform is aimed at residents of Japan, so it would not be of much interest to non-residents. The fact that trading is tied to the Japanese national currency also limits the opportunities of foreign investors. Therefore, we can recommend Btcbox to those who live in Japan, as well as those who are willing to sacrifice convenience for the sake of low trading commissions.