A thorough explanation of the differences between FTX Japan and domestic virtual currency exchanges | Virtual currency column | HEDGE GUIDE for comparison and ranking of virtual currencies (crypto assets)

This time, about the difference between FTX Japan and other virtual currency exchanges, Mr. Sho Nakajima (Twitter: @sweetstrader3 / Instagram: @fukuokasho12) explained.

table of contents

1. What is FTX
2. Differences from other domestic virtual currency exchanges
   2-1.Many stocks handled as a domestic virtual currency exchange
   2-2.Withdrawal speed of Japanese Yen is quite fast
   2-3.Derivatives trading available
   2-4.You can create subaccounts
3. summary

When trading crypto assets (virtual currencies), choosing an exchange that suits your needs and style is one of the important points to maximize profits.

As one of the world’s largest global exchanges, FTX has a large number of users.

Therefore, this time, I will explain the differences between FTX and other virtual currency exchanges based on their respective characteristics.

①What is FTX?

FTX Global is a cryptocurrency and derivatives exchange established in 2019. It is a global exchange where Sam Bankman-Fried, a young genius who leads the cryptocurrency industry, serves as CEO.

At the time of its establishment, FTX Global was based in Hong Kong, but announced in September 2021 that it would relocate its headquarters, and is currently developing services based in the Bahamas. On June 2, 2010, FTX Global’s Japanese subsidiary “FTX Japan” was announced, and it became a hot topic for its full-scale entry into the Japanese market.

FTX Global is known not only for spot trading, but also for handling a wide variety of financial derivatives, and has many users as the world’s largest derivatives exchange.

②Differences from other domestic virtual currency exchanges

2-1.Many stocks handled by a domestic virtual currency exchange

FTX Japan is known for handling promising cryptocurrency stocks that are rarely seen on other domestic exchanges.

Specifically, it supports “Solana (SOL),” which is said to surpass Ethereum due to its high convenience, and “FTX Token (FTT),” which is an exchange token of FTX. Direct trading is possible without going through an exchange.

In addition, the number of stocks handled is abundant, and the sales offices and exchanges handle popular currencies such as “Bitcoin (BTC)”, “Ethereum (ETH)”, and “Ripple (XRP)”.

In addition to this, FTX Japan also provides a service of “perpetual trading”, which is a derivative trading that combines the features of cash, futures and CFD.

2-2. Withdrawal speed of Japanese Yen is quite fast

FTX Japan’s Japanese yen withdrawal speed is much faster than other exchanges, making it a user-friendly service. Below is the actual time it takes to withdraw Japanese Yen at each exchange.

As you can see from this table, it generally takes between 1 bank business day and a maximum of 5 bank business days for a withdrawal request at an exchange to be reflected in the designated bank account. FTX Japan is the only exchange that allows immediate withdrawals, so it can be said that it is a great advantage for users.

In addition, FTX Japan offers an instant withdrawal service for Japanese yen with no fees, so users can carry out comfortable transactions while keeping costs to a minimum.

2-3. Derivatives trading is available

FTX Japan is also gaining popularity as one of the few exchanges in Japan where derivatives trading can be used.

Derivatives trading refers to trading of things called “financial derivative products” derived from more basic assets and products, etc., and since there are a wide variety of trading methods, users can conduct flexible trading that suits them. is. Among them, “leverage trading” is a popular trading method in virtual currency trading.

Leveraged trading refers to a trading method that allows you to trade with an amount that is many times the amount of the deposit, using the deposited funds as collateral, and is characterized by the ability to aim for a large profit with a small amount of funds.

Below is a list of exchanges that handle “leverage trading”, which is popular in virtual currency trading.

In addition to leverage trading, FTX Japan also allows you to use the above-mentioned “perpetual trading”.

Perpetual trading is a derivative trading that combines the characteristics of spot, futures and CFDs. Unlike traditional futures trading, when a contract is signed, the maturity date and the price to be traded on that day are determined, perpetuals have a contract month. Since it does not, it is possible to hold open interest indefinitely.

In this way, in addition to the popular leverage trading, FTX Japan also supports perpetual trading that other exchanges do not have, so it can be said that it is a highly convenient exchange for advanced traders.

2-4. Sub-accounts can be created

In FTX Japan, it is possible to create “sub-accounts” for the purpose of dividing “open interest (position)”.

Sub accounts can be used when you want to separate elements such as specific positions, strategies, and occurrence of loss cuts from the main account. Since only the margin money in the sub-account is used when trading, even if a loss cut occurs, only the balance in the sub-account is used.

Sub-accounts can be created simply by clicking the “+” button in the center of the screen from “Account Management” and entering the name of the sub-account, so anyone can use it casually and easily. In addition, sub-accounts are also effective for risk management, as funds can be transferred between accounts.

At the moment, there are quite a few domestic exchanges that allow you to create sub-accounts, so this point is also one of the big advantages of using FTX Japan.

③Summary

As a Japanese subsidiary of FTX, one of the world’s leading exchanges, FTX Japan started full-scale service provision in Japan in June 2010. Based on the know-how that FTX has cultivated in the global market so far, FTX Japan has developed a number of highly convenient services that stand out from other domestic exchanges, and the number of users is steadily increasing. continue.

As introduced this time, FTX Japan offers a rich trading environment for all types of users, from beginners to advanced users. We recommend that you open an account with FTX Japan once and experience world-class services.

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Experienced forex, futures, and option trading when he was a student, and devoted himself to investing mainly in forex for four years. After that, he aimed to work in the market sector of the financial industry and obtained a securities analyst qualification in two years. At Aozora Bank, engaged in MBS (Mortgage Backed Securities) investment business and foreign currency money management business. In addition, he moved to Mitsubishi UFJ Morgan Stanley Securities and engaged in foreign exchange spot, forward trading and credit trading. He has extensive knowledge of the financial industry. He is a qualified securities analyst. Twitter: @sweetstrader3 / Instagram: @fukuokasho12