Do not invest more money than you can afford to lose.
bitFlyer, one of Japan’s largest bitcoin exchanges, has launched an online shop that accepts bitcoin as payment.
It becomes the first Japanese cryptocurrency exchange to open an online store and is aiming to expand the presence and popularize the use of bitcoin in the country. In its statement bitFlyer notes that with its 150 000 users who can now use their accounts to shop online, and a monthly bitcoin turnover worth JPY 9 billion, it anticipates the rapid expansion of the cryptocurrency market.
The online shop offers mostly electronics – Playstations, TV sets, electronic books and other small gadgets. It lists the price both in bitcoin and Japanese yen, but payment is accepted only in bitcoin. Shoppers can use either their bitFlyer bitcoin wallet, or that of another bitcoin exchange.
Last week bitFlyer has added another cryptocurrency to its trading portfolio – Ethereum.
Cryptocurrencies and bitcoin in particular, are rapidly gaining ground in Japan as the country’s government is already making the first steps towards legalizing it as a regular currency. In the meantime private companies in the country are not sitting on their hands. Recently Fisco, a leading provider of real-time financial information for corporate and individual investors, announced it is setting up a cryptocurrency exchange, while DMM.com – a major online entertainment and shopping platform teamed up with the cryptocurrency exchange Coincheck and started accepting payments in bitcoin.
At the same time another Japanese exchange – Zaif – reported record bitcoin turnovers in the days in a row earlier in April.
