Line’s Crypto Exchange Is Fully Operational With Over 80 Million Users In Japan
Photo: By BitMax
Messaging app LINE has finally unveiled its cryptocurrency exchange, and it already has over 80 million users in Japan. This comes as excellent news for the owners who have been jumping hurdles and trying to get final regulatory approval for a while.
The new cryptocurrency exchange will be called Bitmax. The Shinjuku-based messaging provider gave the announcement earlier in the week. LINE which is 73.36% owned by South Korea’s Naver mentioned in the announcement that Bitmax will be trading five crypto assets; Litecoin (LTC), Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Bitcoin Cash (BCH).
The service is currently available on Android platforms. Users can be accessed on the LINE mobile app by clicking the wallet tab, and it is also made part of the LINE Pay.
In terms of the number of users, LINE has around 81 million in Japan alone, and close to 165 million globally.
Getting To Know BITMAX
Bitmax is currently available to Japanese residents with a LINE account. Trading is free, and there are no hidden charges. Deposits and withdrawals usually attract a fee of 108 yen.
Bitmax is made to be highly secure. New customers have to go through an extensive verification process before they can make use of the exchange. The process requires an ID card, registered bank account, and also photography capture.
LINE also makes use of a secure wallet called Palo Alto-based BitGo to help save assets.
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