Zaif

Zaif is a Japanese exchange that was established in 2015. This exchange is known as one of the top exchanges in the world due to its high liquidity and high volume of transactions in major digital currencies. Zaif Exchange has only 9 trading pairs and only supports a few types of Altcoin. Therefore, most veteran traders do not usually trade in this exchange.

It is also a stock exchange platform that even beginners can easily understand. In this way, the number of users is increasing and people understand and use this platform more easily.

As mentioned above, this exchange is a perfect platform for beginners. Because its simple and easy user interface has made it easy for new users to find their way and not have problems. The exchange site has two languages, Chinese and English, but Zaif programmers are trying to add more languages to the site.

This exchange was hacked in 2018 and has been in shock ever since. For newcomers who want to try out digital currencies, I recommend coming in for a small fee and trading at Zaif Exchange.

This exchange platform, which supports JPY as Fiat currency, supports more than 140 digital currencies and has made them available to the public for trading.

Transaction costs can vary from one digital currency to another, but the transaction costs in this exchange are lower and more appropriate than in other digital exchange exchanges. Zaif has a professional support team that responds to you 24 hours a day.

Weaknesses and strengths of Zaif Exchange

Zaif pros

• Supports Fiat currency

• Has a simple and user-friendly interface

• Receives a small transaction fee (commission)

• In addition to online support, it also has email support

Cons

• Has a history of hacking

• Website with only two languages

• Limitations on exchange software platforms for different countries

Has Zaif exchange Hacked?

Zaif Digital Exchange, which is based in Japan, decided to stop trading for a while after being hacked in 2018. Even users were at risk of losing their assets. Fortunately, Zaif returned to normal without any problems.

However, the incident severely damaged Zaif's reputation. Many users withdrew their assets from Zaif and transferred them to other exchanges. For this reason, the stock market went through difficult days.

Fortunately, security measures have now been stepped up and users are slowly returning. Zaif later sued Binance Exchange. The reason for this was that the stolen money was transferred from Zaif to Binance companies, and even the stolen money was tried to be laundered in Binance.