Top 10 Japanese Cryptocurrencies to Watch in 2021
As the world continues to embrace the possibilities of digital currencies, Japan has emerged as a leading player in cryptocurrency adoption and innovation. Building on a history of technological excellence, Japanese companies have been at the forefront of blockchain developments, resulting in a wide variety of established and upcoming Japanese cryptocurrencies. Here are the top 10 Japanese cryptocurrencies to watch in 2021.
1. Bitcoin (BTC)
As the world’s first and most well-known cryptocurrency, Bitcoin’s place at the top of the list comes as no surprise. Japan has been one of the earliest adopters of Bitcoin, recognizing it as a legal form of payment in 2017. With major companies like Rakuten allowing customers to pay with Bitcoin, and the launch of Bitcoin futures trading on the Tokyo Financial Exchange, it’s clear that the currency has a strong foothold in Japan.
2. Ethereum (ETH)
Ethereum, a decentralized platform that allows developers to build decentralized applications, has also gained significant popularity in Japan. The country’s second-largest bank, Mizuho , has teamed up with Fujitsu to develop a new payment system using Ethereum, while several other companies have started experimenting with Ethereum-based blockchain solutions.
3. Ripple (XRP)
With a focus on improving cross-border payments, Ripple has become one of the most popular cryptocurrencies worldwide. In Japan, the technology has already been adopted by multiple banks and financial institutions, including SBI and MUFG.
4. NEM (XEM)
NEM is a unique cryptocurrency that offers both a public and private blockchain. It has gained traction in Japan, with many companies and organizations, such as Hitachi and Fujitsu, adopting its technology. NEM has also been used in a variety of government and private sector projects in Japan.
5. MonaCoin (MONA)
MonaCoin, created in 2013 in Japan, is an open-source cryptocurrency that has a strong focus on community engagement. It’s popular in the country’s gaming industry and has a growing number of merchants who accept it as payment.
6. Cardano (ADA)
Developed by a team of computer scientists and cryptography experts, Cardano aims to create a platform for smart contracts and decentralized apps. Japan has become a significant market for Cardano, with the currency experiencing growth as more companies adopt its technology.
7. Qtum (QTUM)
Combining elements of both Bitcoin and Ethereum, Qtum is another innovative blockchain platform. Several Japanese companies have already started exploring the potential of Qtum, including Baofeng and Qihoo 360.
8. Komodo (KMD)
Komodo is a privacy-focused cryptocurrency that offers anonymity and security through its use of zero-knowledge proofs. It has been used in a number of Japanese blockchain projects and has established partnerships with major players in the blockchain space.
9. IOST (IOST)
IOST is a high-performance blockchain platform designed to support scalability and faster transaction processing. It has been gaining traction in Japan, with the currency added to several major exchanges, including Binance and Huobi.
10. Electroneum (ETN)
The UK-based Electroneum has also made notable strides in Japan. The mobile-focused cryptocurrency has launched services to allow remittances from Japan to the Philippines using ETN. The company has also established partnerships with Japanese companies in the gaming industry.
Conclusion
Japan has become a leader in the world of cryptocurrency, and with an ever-growing number of Japanese cryptocurrencies, it’s clear that the country’s innovations will continue to shape the future of the industry. From Bitcoin to Komodo and beyond, keep your eye on these top 10 Japanese cryptocurrencies to watch in 2021.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)
Speech tips:
Please note that any statements involving politics will not be approved.