the biggest Forex broker in the world added bitcoin, and it is in Japan

[Amph]

it's also new to e that in japan GMO is the biggest forex broker worldwide, i always thought that forex trading was the biggest in the USA and small in every other country

the question is if they will be trading real bitcoins or some bitcoin cfds

it should still bring the attention to bitcoin, i suspect they will not trade real bitcoin, but cfds like you said, to give better leverage, all the broker that trade bitcoin directly have a very low leverage and in forex, investors like to have 500x leverage

[1713553666]

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[talkbitcoin]

the question is if they will be trading real bitcoins or some bitcoin cfds

the news said it is a full feature bitcoin exchange platform so that traders can trade bitcoin there, so i am guessing it will be something like the exchanges such as bitfinex, okcoin, ... that we know.

[FractalUniverse]

the question is if they will be trading real bitcoins or some bitcoin cfds

the news said it is a full feature bitcoin exchange platform so that traders can trade bitcoin there, so i am guessing it will be something like the exchanges such as bitfinex, okcoin, ... that we know.

It can be interesting then. we'll see how big trading volume they can achieve.

[Herbert2020]

It is open now: https://coin.z.com/jp/index.html
and already meeting a large demand for bitcoin

GMO Click Securities (the company) has estimates that the market size in Japan for cryptocurrencies will grow to 1 trillion yen daily volume, or US$8.7 billion daily within a few years.

Z.com Coin is offering two types of account plans for users, referred to as “Simple” and “Full Access.” With Simple, the website doesn’t ask for much identifying information, so customers can get set up quickly. However, they can only treat the exchange as a cryptocurrency wallet where they can buy coins, make deposits, and withdraw them again.

The Full Access accounts require Know Your Customer (KYC) and Anti Money Laundering (AML) documentation, but permits users to deposit and withdraw Japanese yen, and trade on both of Z.com Coin’s trading services.

The company is initially offering a Bitcoin wallet and two markets for their customer to trade. The first is a Foreign Exchange market that allows Bitcoin to be traded for various fiat currencies, called the “virtual currency FX” market. Traders also have access to margin trading, an already-very popular market type for Z.com, according to the announcement.

The other market is a more traditional Bitcoin exchange, which they simply call their “virtual currency” market. The service allows anyone to buy bitcoins for Yen, and potentially other cryptocurrencies like Ethereum in the future, and send them to their Z.com coin wallet. As with the now competing exchange BitFlyer, trading fees on the Virtual Currency market are zero.

source: https://bravenewcoin.com/news/japans-largest-forex-market-opens-bitcoin-exchanges-to-overwhelming-demand/

[Vishnu.Reang]

GMO Click Securities (the company) has estimates that the market size in Japan for cryptocurrencies will grow to 1 trillion yen daily volume, or US$8.7 billion daily within a few years.

Wow! I am over the moon after reading this. Imagine what will be the global volumes, if the Japanese volumes are $8.7 billion. That amount can be close to $40 billion. And if the daily volumes are that much, then the market cap can be anywhere between $400 billion to $1 trillion.

[talkbitcoin]

GMO Click Securities (the company) has estimates that the market size in Japan for cryptocurrencies will grow to 1 trillion yen daily volume, or US$8.7 billion daily within a few years.

Wow! I am over the moon after reading this. Imagine what will be the global volumes, if the Japanese volumes are $8.7 billion. That amount can be close to $40 billion. And if the daily volumes are that much, then the market cap can be anywhere between $400 billion to $1 trillion.

in a short while if we assume 17 million bitcoin is mined then to have a $400 billion dollar market cap price has to be $23,529 which i doubt can happen this soon without a big bubble forming! and i am not even going to calculate the $1 trillion market cap

but this is a big news nonetheless. it will bring bitcoin to a large number of people and we can expect a nice rise in the near future.

[djuvantebit]

Bitcoin acceptance grows! I had always wondered what kept forex brokers from featuring bitcoin on their platforms guess more and more are getting bolder.

[matuson]

Bitcoin acceptance grows! I had always wondered what kept forex brokers from featuring bitcoin on their platforms guess more and more are getting bolder.

Maybe with the advent of bitcoin in Forex price hikes will increase even more. I never trusted this exchange, and therefore, even if I will have the opportunity to trade Forex with bitcoins, I will not do that.