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How to Choose and Compare Cryptocurrency Exchanges for Beginners

[2025 Update] 15 Recommended Cryptocurrency Exchanges! A Thorough Comparison of Fees and Security for Beginners | How to Choose the Right One

The term "cryptocurrency" is becoming more common, and interest in digital assets such as Bitcoin and Ethereum is on the rise. Many people are considering starting cryptocurrency trading as part of their future asset formation or as an investment in new technology.

However, the first step is to choose a cryptocurrency exchange. There are many exchanges both in Japan and overseas, and questions will likely arise one after another, such as "Which one is safe?", "What are the fees?", and "Which one is easy for beginners to use?"

Choosing an exchange is a very important process that determines the success of your cryptocurrency investment. If you choose an exchange with high fees, your profits will decrease, and if you choose an exchange with poor security, you may even risk losing your valuable assets.

In this article, based on the latest information as of May 2025, we will explain the basics of cryptocurrency exchanges, comparison points to avoid failure, and Covering major domestic exchanges After that, we will thoroughly compare and explain recommended exchanges for different purposes, from beginners to advanced users.

By reading this article, you will be able to find the best cryptocurrency exchange for you and jump into the world of cryptocurrencies with confidence. Now, take your first step towards building your future assets!

What is a cryptocurrency exchange? Get a head start by understanding the basics!

First, let's understand the basic mechanism of what role a "cryptocurrency exchange" plays.

Cryptocurrency exchanges are "cryptocurrency department stores"

Simply put, cryptocurrency exchanges are a platform for trading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).An online platform where you can buy, sell, and exchange virtual currencies (crypto assets) for other currencies.You can deposit Japanese Yen to purchase virtual currency, or sell virtual currency you own and convert it to Japanese Yen.

Main functions

  • Buying and Selling: You can trade various cryptocurrencies using Japanese Yen and other cryptocurrencies.
  • storage: We provide a digital "wallet" function to safely store purchased virtual currency.
  • Remittance: You can send cryptocurrencies to other exchanges or personal wallets.
  • Additional services: Some exchanges also offer services such as "lending," where you lend out your cryptocurrency holdings and earn interest, and "staking," where you contribute to the network and receive rewards.

The difference between a "sales office" and an "exchange" is important!

There are two main types of cryptocurrency exchanges: "sales offices" and "exchanges."

  • Sales point:
    • partner: Cryptocurrency Exchange
    • Feature: At the price offered,Quick and easyYou can buy and sell virtual currency. It is popular among beginners because the operation is simple.
    • important point: The difference between the buying and selling prices, called the "spread," is the actual commission.More expensive than the "exchange" formatThere is a tendency for
  • Exchanges:
    • partner: Other users (investors)
    • Feature: Users buy and sell through an order board called an "order board." Limit orders (specifying the desired price) and market orders (immediate buying and selling at the current price) are possible.
    • merit: than the sales pointPossibility of trading at favorable prices with low feesin XNUMX minutes by bus from Yonago Station.
    • Demerit: The operation is somewhat complicated, and there are cases where transactions do not take place at the desired price (low liquidity).

Types of cryptocurrencies that can be traded

There are more than thousands of virtual currencies in the world. The most common areBitcoin (BTC) But other currenciesaltcoinThe most well-known are Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). The types and number of currencies handled by each exchange varies greatly.

[Most Important] Risks of cryptocurrency trading and thorough security measures

Although virtual currencies are an attractive investment, they also entail risks, and security is of utmost importance in protecting your assets.

Main risks

  1. Price Fluctuation Risk: The price of virtual currency fluctuates significantly (has high volatility) compared to stocks and foreign exchange. While there is a possibility of making large profits in a short period of time, there is also a possibility of suffering large losses.Trading with excess fundsto do,DiversificationIt is important to keep this in mind.
  2. Hacking and unauthorized access risk: Cryptocurrency exchanges have always been targets of hackers. In the past, exchanges have been hacked, resulting in the leakage of customer assets. There is also a risk that personal accounts may be compromised.

Exchange Security Checklist

To choose a trustworthy exchange, be sure to check the following points:

  • ☑ Registration with the Financial Services Agency (for domestic exchanges): In order to operate a virtual currency exchange business in Japan, registration with the Financial Services Agency is required. Registered companies meet strict standards regarding security and customer protection.Make sure you choose a registered exchange.
  • ☑ Cold Wallet Management: Are most of your assets stored in "cold wallets" that are completely isolated from the internet? This significantly reduces the risk of hacking.
  • ☑ Two-Factor Authentication (2FA): When logging in or transferring money, in addition to your password, you are required to provide additional authentication via SMS or an authentication app.Two-factor authentication is required.
  • ☑ Multisig: This is a mechanism that requires multiple private keys (signatures) when performing important operations such as money transfers, reducing the risk of internal fraud and key loss.
  • ☑ Segregation of assets: Are exchange assets and customer assets managed separately? This will make it easier for customer assets to be protected even in the unlikely event that the exchange goes bankrupt.
  • ☑ Cybersecurity Insurance: Some exchanges even take out insurance to protect against hacking attacks.

Security measures that users can take

Don't just rely on the exchange's countermeasures, but also take thorough measures yourself.

  • Strong password: Set a complex password that is hard to guess, and do not reuse it for other services.
  • Setting up two-factor authentication: Be sure to set this on any exchange where it is available.
  • Beware of phishing scams: Be careful of fake emails and websites pretending to be from exchanges, and do not enter your ID and password carelessly.
  • Avoid public Wi-Fi: When conducting transactions, a secure network is used.
  • Using a hardware wallet: If you plan to hold a large amount of assets for a long time, we strongly recommend using a hardware wallet, which is one of the safest storage methods. Since private keys are managed offline, the risk of hacking is minimized. Typical examples include "Ledger" and "Trezor".
a device with a screen and a cover

What is a Ledger hardware wallet?

Travel rules you should know

Starting in June 2023, the "Travel Rule" will be fully implemented in Japan. This is part of anti-money laundering measures.When transferring virtual currency, information about the sender and recipient is communicated between exchanges.These rules make it easier to track unauthorized transfers of funds, but they can make the transfer process a little more complicated for users and limit transfers to some overseas exchanges.

7 points to compare when choosing a cryptocurrency exchange that won't fail you

Here are seven points to compare to help you choose the best exchange for you.

  1. セキュリティ: Top priorityPlease refer to the above "Exchange Security Checklist" to choose a reliable exchange. Registration with the Financial Services Agency is the minimum requirement.
  2. Number of currencies handled: Make sure that the exchange handles the currency that suits your purpose, whether you only want to trade major currencies such as Bitcoin and Ethereum, or whether you want to trade various altcoins as well. Domestic exchanges tend to be very selective, while overseas exchanges handle a very wide variety.
  3. Commission:
    • Transaction fees: Commissions in the "exchange" format. Commissions may differ between makers (those who place orders at prices not on the order book) and takers (those who place orders at prices on the order book). Some exchanges have negative commissions (where you receive a reward for trading).
    • Sales Spread: The difference between the selling price and the buying price at a "sales point." This is a hidden cost, so be careful.
    • Deposit and Withdrawal fees: Fees for depositing and withdrawing Japanese yen and virtual currencies. Many are free, but you should check.
    • Remittance fee: Fee for sending cryptocurrency to another wallet. Varies depending on currency and exchange.
  4. Ease of use (UI/UX):
    • PC trading screen: Are the chart functions and ordering methods comprehensive and intuitive to use?
    • Smartphone app: The ease of use and functionality of the app is also important. Make sure you can easily trade and check prices on the go. The design will differ depending on whether it is for beginners or traders.
  5. Transaction Format: Are both "sales points" and "exchanges" offered? In particular,Liquidity(Whether there is a large trading volume and whether buying and selling is easily completed) is important for keeping costs down and conducting transactions smoothly.
  6. Additional services: Check to see if there are any services other than trading that interest you, such as lending, staking, NFT marketplace, or IEO (Initial Exchange Offering: new cryptocurrency issuance and sale led by the exchange).
  7. Support: It's a good idea to check whether they accept inquiries in Japanese, how you can make inquiries (e.g., email, chat, phone), and what their hours of operation are.

Domestic vs. overseas exchanges: A thorough comparison of the pros and cons

Exchanges are broadly divided into "domestic exchanges" registered with the Japanese Financial Services Agency, and "overseas exchanges" based overseas.

Domestic vs. overseas exchanges: A thorough comparison of the pros and cons

Important points to note when using overseas exchanges:

Overseas exchanges have many attractive features, but in most cases they are not registered with the Japanese Financial Services Agency. The Financial Services Agency has issued a warning against unregistered overseas traders. If you use them, you must fully understand these risks and act at your own risk. Also, please note that tax reporting in the event of profits is different from domestic exchanges.

Comparison of distinctive services

[Domestic] 13 Recommended Cryptocurrency Exchanges - A Thorough Review

Let's take a closer look at the major domestic exchanges registered with the Japanese Financial Services Agency.

Major Exchanges (Detailed Review)

  1. Coincheck
    • Feature: It boasts the highest number of app downloads and is extremely popular among beginners. The sophisticated UI allows for intuitive operation. It handles 1 types of currencies, the largest in Japan, and is also active in the NFT marketplace and IEO.
    • merit: Extremely easy to use, supports a wide range of currencies, and allows for NFT trading.
    • Demerit: Sales outlet spreads may be wider.
    • recommendation: Cryptocurrency debutThose who want to learn more about NFTs, those who want to get started easily with a smartphone app, and those who are interested in NFTs.

What is Coincheck?

Coin check
  1. GMO Coin
    • Feature: High reliability operated by the GMO Internet Group. Not only transaction fees,No fees for deposits and withdrawals of Japanese yen or transfers of virtual currencyThe biggest attraction is that it offers a wide range of 26 stocks and a full staking service.
    • merit: No fees, high reliability, and a wide range of stocks and services.
    • Demerit: It takes some getting used to using the exchange (order book) app.
    • recommendation: I want to thoroughly reduce costsThose who want the peace of mind of being part of a major financial group, and those who are interested in staking.

GMO coin?

  1. bitbank
    • Feature: Strong in altcoin exchanges (order-book trading)Many of the stocks it trades are the No. 1 in Japan. The cool design of the PC trading screen and the highly functional charts are popular among traders. Security is also highly rated.
    • merit: Active altcoin order book, high liquidity, and powerful analytical tools.
    • Demerit: Since it does not have a sales outlet function, it may be a bit difficult for beginners.
    • recommendation: Want to trade altcoins at a favorable price?Those who are intermediate to advanced traders who want to make full use of technical analysis.
  2. bitFlyer
    • Feature: A long-established exchange that boasts one of the largest Bitcoin trading volumes in Japan. It has a reputation for its security system and is highly reliable due to its long track record of operation. It also offers a service that allows you to exchange T-points for Bitcoin.
    • merit: High reliability, security and liquidity of Bitcoin.
    • Demerit: There are few altcoin exchanges (order books).
    • recommendation: Security and PerformanceThose who prioritize this and those who want to trade primarily with Bitcoin.
  3. SBI VC Trade (SBI VC Trade)
    • Feature: An exchange under the umbrella of the major financial group SBI Holdings. There are no fees for any transactions.The number of stocks handled by the staking service is among the largest in JapanCollaboration with other SBI Group services is also expected.
    • merit: The peace of mind of the SBI Group, no fees, and a wide range of staking stocks.
    • Demerit: The app and trading tool functions are somewhat simple.
    • recommendation: Stable profits through stakingThose who want to achieve this and those who use the SBI Group.
  4. BINANCE JAPAN
    • Feature: The Japanese subsidiary of Binance, one of the world's largest exchanges. Its wide range of currencies (over 50 types) and liquidity are on par with global standards. Some of the services unique to Binance, such as "Simple Earn," are also available.
    • merit: Global level number of currencies handled, functionality, and high liquidity.
    • Demerit: Compared to the overseas version of Binance, the functionality and number of currencies are limited.
    • recommendation: World-class trading environmentThose who want to use it in Japan and trade in many currency pairs.

What is Binance Japan?

Recommended Cryptocurrency Exchanges

Featured Exchanges (Brief Review)

  1. Rakuten Wallet: Rakuten points can be exchanged for virtual currency. Recommended for Rakuten users.
  2. LINE BITMAX: You can easily trade using the LINE app. The ease of starting from 1 yen is appealing.
  3. Zaif: They handle their own tokens and also provide automatic savings services. They have a core fan base.
  4. BITPoint: They are proactive in listing new altcoins and run a wide range of campaigns.
  5. OKCoinJapan: The Japanese subsidiary of the global exchange OKX. Focuses on staking services.
  6. BitTrade: Formerly known as Huobi Japan. The number of currencies handled is among the largest in Japan (39 types).

[Overseas] 5 Recommended Cryptocurrency Exchanges - A Thorough Review

For those looking for a greater variety of currencies and higher leverage, we will introduce overseas exchanges that are also popular with Japanese users.Use at your own riskTherefore, please consider this only after fully understanding the risks.

  1. BYBIT
    • Feature: It is very strong in derivatives (futures, etc.) trading, and allows leverage of up to 100 times. It has strong Japanese support, and the website and app can be used in natural Japanese, making it very popular with Japanese users.
    • recommendation: Those who want to trade high-leverage derivatives and who value Japanese language support.

What is BYBIT?

  1. MEXC
    • Feature: 1,700 or moreIts biggest strength is the overwhelming number of currencies it handles, which is unmatched by any other. It is an essential exchange for traders looking for promising new cryptocurrencies. The fees are also low.
    • recommendation: Various altcoins, especiallyI want to mine grass coinssquare.

What is MEXC?

  1. Bitget
    • Feature: "copy tradeThe " feature is extremely popular worldwide. Social trading features are also available, making it easy for beginners to learn from the strategies of advanced traders.
    • recommendation: For those who want to learn professional strategies and are interested in copy trading.

What is BITGET?

  1. Zoomex
    • Feature: They focus on security measures and provide support in Japanese. The interface is simple and relatively easy to use, even for those who are new to overseas exchanges.
    • recommendation: Those who value security and are looking for a simple overseas exchange.

What is ZOOMEX?

  1. FXGT / Vantage Trading
    • Feature: Also known as FX brokers,Up to 1000 timesOffers ultra-high leverage such as the above. Not only virtual currencies, but also FX and stock indexes can be traded. High-performance platforms such as MT4/MT5 are available.
    • recommendation: For those who want to trade with ultra-high leverage and those who want to trade a variety of financial products.

What is FXGT?

Overseas: Recommended cryptocurrency exchanges

A complete guide to opening a cryptocurrency exchange account

Once you have found an exchange that suits you, it is time to open an account. The basic process is as follows:

  1. Visit the official website: Be sure to complete the procedure from the official website.
  2. Email address registration: Enter your email address and follow the confirmation email you will receive to proceed with the registration.
  3. Enter basic information: Enter your name, address, phone number, investment experience, etc.
  4. Submit ID documents: Upload your driver's license, My Number card, passport, etc. online. (Smartphone-only systems such as "Easy Identity Verification" are the norm.)
  5. examination: The exchange will carry out an examination (usually within a few hours to a few days).
  6. Screening completed and account opened: If you pass the screening, you will receive a notification that your account has been opened.
  7. Setting up two-factor authentication: After logging inBe sure to set up two-factor authenticationlet's do it.
  8. Depositing Japanese Yen: You can start trading by depositing Japanese yen via bank transfer or other method.

What you'll need:

  • E-mail Address
  • Identification document (driver's license, My Number card, etc.)
  • Bank account (for deposits and withdrawals in Japanese yen)
  • Smartphone (used for identity verification and two-step authentication)
Exchange List

Summary: Towards future asset formation! Start investing in cryptocurrencies at the exchange that's best for you

Choosing a cryptocurrency exchange may seem overwhelming because there is so much information available. However, the following7 points of comparisonIf you understand the above, the advantages and disadvantages of domestic and international exchanges, and the characteristics of each exchange, you will surely be able to find the exchange that is right for you.

The important thing is to take action first. Many domestic exchanges allow you to open an account for free. It might be a good idea to open an account with a few and try out the app and trading screen.

And when you start trading, be sure toSecurity measuresTo ensure thatSurplus fundsWhat to do inRisk managementDon't forget to be thorough.

Virtual currencies have the potential to greatly change our future economy and society. Choose a reliable partner (exchange), deepen your knowledge, and enjoy the world of virtual currencies wisely and safely!