Sirwin
Sirwin
Japan landscape

How about the cryptomarket in Japan?

By Aruno14 | aruno14 | 10 Mar 2022


Cryptomarket is global, but rules and evolutions can be different in function of country. In this article, let's speak about: Japan.

I currently live in Japan and I have owned some crypto for several years.

Where to buy?

  1. bitFlyer: 290,415BTC
  2. DMM Bitcoin: ??
  3. GMO coin: 188,220BTC
  4. Coincheck: 56,653BTC
  5. bitbank: 14,209BTC
  6. Liquid by QUOINE: 50,122BTC
  7. Zaif: 835BTC
  8. Huobi: 1,266BTC

Total: 636,877BTC

(https://jpbitcoin.com/market/volume)

Popular cryptocurrency

In 2018, alt coin ranking was:

  • XEM (Nem): 537 000 000JPY (5 370 000 USD)
  • ETH (Ethereum): 170 000 000 JPY (1 700 000 USD)
  • BCH (Bitcoin Cash): 76 000 000 JPY (760 000 USD)
  • MONA (Mona Coin): 39 000 000 JPY (390 000 USD)
  • XRP (Ripple): 25 000 000 JPY ( 250 000 USD)

(https://kanetto.com/kasotsuka_ninkinoriyu/)

How about tax?

In Japan, crypto benefits are considered as miscellaneous income (雑所得). This income is added to your other incomes and used to calculate how much you have to pay. The more you earn, the higher you pay, the maximum is 55%, but if you have a normal salary it will be about 30%.

Under 200000 JPY (about 2000$), you don’t have to report it and consequently don’t have to pay taxes (in fact you are supposed to pay regional tax, but it seems they do not check it).

Usage rate

In August 2021, about 11% of Japanese declare owning cryptocurrency. (USA: 9%, UK: 8%, South Korea: 23%)

(https://coinotaku.com/news/articles/138926)

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aruno14
aruno14

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