Japan has 3.5 million traders in crypto-currencies

Several surveys from the agency of financial services in japan have demonstrated that people are passionate about crypto-currencies. In fact, more than 3.5 million people who have already invested in virtual currencies.

Interesting surveys

It is the FSA, that is to say, the Financial Services Agency, Japan, which has conducted surveys very recently. The goal initially was to verify that the local agencies for the exchange of crypto-currencies within the regulatory framework. But this government agency took the opportunity to make a more extensive study, particularly concerning the traders of digital currencies in the country.

Pixabay The Digital Artist / The Japanese are passionate about crypto-currencies.

The data were collected from 17 platforms for the exchange of digital currencies. These platforms are only local. And we discover that more than 3.5 million Japanese use them, almost on a daily basis. This is amazing !

The digital assets the most traded are, of course, the Bitcoin, but also Ethereum and Litecoin. We also learn that the traders were between 20 and 39 years of age mainly, which corresponds to the famous generation of millennials.

A country in advance

As a reminder, there are a few days in April 2017, Japan has taken the decision to legalize Bitcoin as a means of payment. In addition, policy makers have authorized the activity of the exchange platforms. The country therefore has a head start on most other countries in the world, which also explains this enthusiasm for crypto-currencies.

Pixabay SulyMan / Japan is a forerunner in terms of regulation for virtual currencies.

Also, this is not a coincidence that the japanese yen dominates trading volumes of Bitcoin, sometimes representing up to one-half of the volumes in the world. The study, conducted by the FSA had the objective to check if these platforms had a team of dedicated security, instruction manuals covering the operational risks of digital signatures used by multiple administrators, or technologies multi-signatures.

This survey was conducted after the impressive flight that hit the site Coincheck : the japanese government wished to verify if the regulations put in place was appropriate or not to the situation.

Source : News Bitcoin