The Mysterious East: Decrypting Japanese Crypto Traders
About Japanese crypto market, Satoshi Nakamoto’s successors, industry challenges and trendsetters in the country which were first to legalize digital currency.
Japan is one of the key countries in the crypto financial world, where the headquarter of Bitcoin.com is situated, the crypto exchange Mt. Gox was established, the Bitcoin’s creator Satoshi Nakamoto name comes from, and cryptocurrencies in general are legalized.
But, what do we really know about the growing industry of cryptocurrencies in the Land of the Rising Sun? What and where can be bought in Japan with crypto? What is the attitude of the authorities towards digital assets after adoption of the regulatory legislation?
Recent changes in the structure of Japanese state apparatus, as an appointment of a prominent pro-blockchain politician Takuya Hirai as Minister of Science, Technology, and IT, could benefit the further development of the blockchain technology in the country.
Housewives behind Bitcoin surge
Before the advent of the Japanese currency, Japanese traders were considered extremely cautious and conservative. They rather preferred to invest in low-yield risk-free assets, such as national bonds.
However, a recent study by Deutsche Bank showed that a large number of Japanese crypto traders, despite all of the previous history, cease to be cautious, choosing risky, but highly profitable investments. According to Deutsche bank AG analysts, “retail investors are shifting from leveraged foreign-exchange trading to leveraged cryptocurrency trading.&rdqu