Zaif Review – The Company Dropped From 35th to 96th In Ranking
Since November 2018 the company belongs to FISCO Digital Asset Group Co. Ltd. With headquarters in Tokyo, the company is mainly focusing on Japanese investors. Recently, they even announced they are not accepting overseas customers.
All the facts that led to these decisions you can find in this detailed Zaif Review. You will quickly realize that cryptos are a very interesting, yet dangerous business.
|Is This Company Safe?||Yes|
|Have Warnings from:||N/A|
|Trading Platforms:||Proprietary app|
|Trading Assets:||Cryptos, Japanese Yen|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||
After an unexpected theft of $60M from the exchange wallet company is not reliable as it used to be. Yet, if you have trouble withdrawing your money get in touch with our experts for consultation.
Legal info: Is Zaif Exchange Legit?
Overall, yes. The company is primarily licensed by the Japanese FSA. Thus, they don’t have other regulations outside of Japan. Thus, what shocked the world is that around $60 million was stolen from wallets. That debt is partially covered by their current owner. Thus, if you were trading with a company that has compensation funds things would be different. Otherwise, you would be left without any money.
Who are Zaif’s clients?
Zaif.jp company operates worldwide without any limitations. But for certain countries, access is forbidden. The main reason is that in 2022 the company decided not to accept any more overseas clients. But so far, their customers are mainly coming from:
- United States
In case you are not satisfied with their services or withdrawals, feel free to contact our team for advice. Also, don’t skip our Yadix review for more investment information.
Investment Costs with Zaif
Generally speaking, the company has quite cheap services. Surprisingly, the company doesn’t charge any maker fees, while taker fees are also low at 0.1%. As for the margin trading, the trading fee is 0.7% while lending per day is 0.039%. Important to realize is that the company also provides margin trading with maximum leverage of 7.7.
The only type of bonus comes along with the referral program. Thus, there are special conditions to get rewarded. The first is if the referral verifies its account ( 1.500 Yen reward). The second bonus is 10.000 Yen for referral trading more than 1M Yen in a month.
Zaif Trading Features
With Zaif crypto exchange you can choose between two trading platforms. Both are proprietary. One is web-based and simplified. It is designed for quick insight and exchanges on your account. On the other hand, there is a less user-friendly option, thus more functional.
Is Zaif legit?
Absolutely. The company is regulated by a trusted Japanese institution. However, the security was weak and hackers got their hands on the pray. Consequently. The company dropped from 35th place in the ranking to 96th.
Available Trading Assets
Sadly, such a trusted company offers only a few investment options. There are a few cryptos and currency pairs available only. Some of the main assets are:
Even some offshore brokers offer more instruments than this exchange and for that, you can check our 10TradeFX review.
The Zaif Login feature is now available only for Japanese citizens. But even without it, there’s no visible account type separation. Therefore, everyone gets the same conditions.
Mobile Trading App
In fact, Zaif has dedicated mobile apps for iOS and Android. However, compared to other exchanges, it has a very low download rate. There are only bit over 10K users on Android.
To sum it up, no. The company doesn’t provide insight into the Zaif app. But in general, crypto exchanges don’t offer similar things. Which might be a dealbreaker for newbies.
Zaif Exchange doesn’t offer any kind of education to its investors. But if you look at any other exchange in the top 15 list, you will realize a big difference in educational services. Overall, knowledge is the key to success.
For funding and withdrawal methods, investors can use cards and wire transfers. But also, crypto transfers are available. Thus, you can only deposit money in Yen. As for Zaif withdrawal, you can expect additional fees.
Those vary on the channel. For example, the ETH withdrawal fee may vary between 0.01 and 0.05 ETH. On the other hand, 385 Yen is charged for bank transfers up to 30K Yen. With new establishments and negative experiences from the past, you can expect issues during withdrawal procedures. Especially because the company only has 1M in spot trading volume in 24 hours.
Surprisingly, the company lacks phone contact options. Instead, you can only contact them via web form and e-mail. Also, customer service is available only in English and Japanese. Without working hours available, you might wait for a response for a while.
Quite a shady service for a regulated company. But to understand how important support might be, don’t skip our Alvexo review.
Key Information To Consider About Zaif?
Obviously, the company had weak security and since then, the money invested through this exchange is dropping. Besides Japanese regulations, there are none of the others. Especially not the US ones. After all, the company has quite a poor range of assets available. Eventually, other exchanges will skip them in the ranking.
To avoid disappointment you should rather stay with proven companies. Even if it costs you more. At least you know what you can expect. But in the case that your money is stuck and you can’t get it out, feel free to contact us. Our expert team can help you with the fund’s recovery and advise you on the next step. Don’t worry, the first consultation is completely free. Get in touch now.
What Is Zaif?
Zaif is a Japanese crypto exchange offering services since 2016 but recently they are limiting investors only to Japanese citizens.
What Are The Fees For Zaif?
Maker fees are down to 0% while taker fees are quite low at 0.1%.
Is Zaif A Legit Exchange?
With JFSA regulation yes. Thus, historical events are lowering their credibility. Therefore, you can expect different issues. In such cases, contact our team for assistance.