Rakuten Launches Live Trading on its Crypto Exchange Service

Rakuten Launches Live Trading on its Crypto Exchange Service Image Credit: Rakuten

Japan’s e-commerce giant Rakuten recently launched its new crypto exchange platform dubbed Rakuten Wallet, offering a spot trading service for crypto assets through a its smartphone app. 

In order to provide customers with safe and secure crypto asset transaction services, Rakuten Wallet separates money deposited by customers (customer assets) from the company’s own funds, managing the assets (trust maintenance) in trust accounts provided by Rakuten Trust, the trust company of Rakuten Group. Rakuten Trust manages those trust assets through Rakuten Bank savings accounts.

Additionally, a number of security methods have been implemented to ensure the safety of customers’ assets. All crypto assets owned by customers are stored in an environment isolated from the internet, known as the “cold wallet,” and private keys are managed through a multisignature scheme. Two-step authentication is also required when logging in, withdrawing money and withdrawing assets.

Through the smartphone app, customers can make transactions for crypto asset trading accounts, such as depositing/withdrawing Japanese yen and depositing/withdrawing crypto assets, 24 hours a day, 365 days a year.

The app also features many useful functions that allow customers to effectively manage their crypto assets, such as confirmation of assets deposited in Rakuten Wallet, the purchase and sale of crypto assets, and real-time chart rate confirmation.

Three types of crypto assets can be traded: Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). There are no fees for opening or managing an account, purchasing or selling crypto assets, or depositing money. Customers who already have a bank account with Rakuten Bank will be able to easily open a Rakuten Wallet account simply by entering the required information on the online application form.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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