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Learn More about buying USDC in Japan
How to buy USD Coin in Japan
Is USDC a good investment in Japan?
The USD coin was released in September 2018 as a bridge between dollars and trading on cryptocurrency exchanges. It means USD Coin is equal to USD but in the cryptocurrency world. Therefore, its price is always equal to $1. However, there were sometimes during its history when the price changed a bit, but that wasn’t that much to consider. Anyhow, the USDC price has never been more than $1, and less than $0.99. That shows how stable this coin has been through all these years.
Since the USDC price never changes, you might wonder if it is a good investment. To answer this question, we need to explain how stablecoins are used and invested. They are not considered an investment to get profit, but investors usually buy stablecoins to avoid the volatility of the cryptocurrency market. If the market seems so volatile, traders and investors swap their coins with USDC and keep it stable until they pass the bad days of this market. That’s how they can keep their assets safe from losing their value.
What is USD Coin ?
Circle is a financial technology company that created USD Coin with the collaboration of Coinbase. Their main goal was to help people gain more money on the internet and be able to exchange their coins more easily. The USD coin is considered a dollar in people’s digital wallets.
Is USD Coin legal to buy in Japan
Yes. In Japan, cryptocurrency is considered legal and regulated under the Payment Services
Act, which was enacted in April 2017. The Act defines cryptocurrency as a form of property and
also recognizes cryptocurrency as a form of asset and allows individuals to buy, sell, and hold
cryptocurrency as a means of payment. In addition, cryptocurrency exchanges operating in
Japan are subject to government regulation and must comply with anti-money laundering act
(AML) and know-your-customer (KYC) regulations.
Is USD Coin taxed in Japan
Yes. According to the official Tax Answer No.1500 released by the Japanese National Tax
Agency (NTA), cryptocurrency is taxed in Japan as a form of property and profits obtained from
cryptocurrency trading will be treated as "miscellaneous income"(or zatsu-shotoku in
Japanese). This means that gains from selling cryptocurrencies will be taxed in a similar manner
to other sources of income, such as employment income. Individuals who trade
cryptocurrencies are subject to taxation on any capital gains they attain from selling their
cryptocurrency holdings. As per the Japanese Income Tax Law for Virtual Currencies, gains
from the sale of cryptocurrency are considered taxable income and may be subject to both
individual income tax and resident tax. In accordance with the two Tax Laws mentioned, the tax
rate for individuals can range from 5% to 55% depending on the amount of the gain, while the
resident tax rate is 10.21%.
After you've bought USD Coin in Japan
USD Coins can be used to pay for goods or services. It is also tradable on most exchanges. Thus, you can trade your USDC to any other cryptocurrency whenever you want. USDC owners can always exchange it with the dollar and receive cash equal to the number of coins they have. For example, if you have 100 USD coins in your wallet, you can turn them into $100 cash. Furthermore, USDC offers investors safety during times of instability or downturn in the crypto market. Therefore, it is the best option for investors to keep their digital assets stable for a while. Since the price of USDC is always stable, they won’t lose much money. However, you should still read more about it to know if it is the best time to trade your current assets with USDC or buy this coin.
Who can buy USD Coin in Japan
Anyone. It is worth noting that there is no specific requirement for citizenship or residency in
Japan for purchasing digital assets, so foreign individuals can also buy cryptocurrency in the
country. In order to buy cryptocurrency in Japan, it is advised to research and choose a
reputable cryptocurrency exchange that operates in Japan and supports the cryptocurrency you
want to purchase. For this matter, our exchange is legal, safe, and supports a wide range of any
desired cryptocurrency while providing you with various payment options to choose from like
Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal. Plus, we charge no
exchange fees for these secure transaction services.
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Frequently asked questions
Most exchanges support USDC as a trusted and available coin. Find a suitable exchange to trade or buy this coin. However, some exchanges may ask you to pay additional money as the processing fee. But if you buy USDC in the BlockTrade exchange, you don’t have to pay that fee. That’s why Blocktrade is considered one of the cheapest and the most secure exchanges to buy crypto.
Yes. According to the Virtual Currency Tax Guideline pamphlet by the Japanese National Tax
Agency (NTA), in Japan, using cryptocurrency to pay for goods or services is subject to
consumption tax (消費税). This tax is imposed on the value of the goods or services being
purchased, and the rate varies depending on the type of goods or services. For example, the
standard rate for most goods and services is 8%. This means that if you purchase an item for
100,000 yen and pay with cryptocurrency, you will be required to pay an additional 8,000 yen in
consumption tax. It's important to note that the seller is responsible for collecting and remitting
the consumption tax to the government, but as a buyer, it's good to be aware of this tax
According to the official Tax Answer No.1500 in Japan, there are currently no tax-free
cryptocurrency transactions. All cryptocurrency transactions, including buying, selling, and using
cryptocurrency to pay for goods or services, are subject to either capital gains tax or
consumption tax, or both. The Japanese National Tax Agency considers cryptocurrency to be a
form of property, and as such, any gains from selling cryptocurrency are taxed as capital gains.
Additionally, using cryptocurrency to purchase goods or services is subject to consumption tax.
It's important to consult with a tax professional for more information on specific tax obligations
and to ensure compliance with Japan's tax laws.
USD Coin will be available as long as the cryptocurrency world is still alive. Furthermore, since its price is stable and equal to the dollar, it would still be in use in the future.
It's difficult to estimate the exact number of people in Japan who own crypto assets, but it was
estimated by some sources that in Japan, about 4.0%, which would be around 5 million of its
population, owned some form of cryptocurrency. However, these numbers can change rapidly
due to frequent movements in the crypto market.
The truth is that USD Coin is not as profitable as other cryptocurrencies. The main advantage it has is the stable price. Therefore, you can use this coin to stabilize your digital assets for a while or be able to exchange coins more efficiently.