Trading services for BTC, ETH, and BCH initiated by Ratuken Wallet
|- Rakuten Wallet is a consolidated subsidiary of Japan's Rakuten Group.
- For additional security, the crypto funds are stored in multi-sig cold wallets.
Rakuten Wallet, Inc. announced the launch of a new mobile app which will facilitate spot trading service for cryptocurrency. The app will initially be released only for iOS.
A press release by Rakuten stated that:
"[Rakuten Wallet] separates money deposited by customers (customer assets) from the company's own funds, managing the assets (trust maintenance) in trust accounts provided by Rakuten Trust Co., Ltd., the trust company of Rakuten Group. Rakuten Trust manages those trust assets through Rakuten Bank, Ltd. savings accounts."
All the customers’ crypto funds are stored in multi-sig cold wallets to provide additional security. Also, a two-factor authentication (2FA) is essential "when logging in, withdrawing money and withdrawing assets."
No fees are charged for "opening or managing an account, purchasing or selling crypto assets, or depositing money." However, a nominal charge of JPY 300 is charged for withdrawing Japanese Yen. Small fees will also be levied for withdrawal of crypto assets (Bitcoin: 0.001 BTC; Ether: 0.01 ETH; Bitcoin Cash: 0.01 BCH).
Ratuken Wallet currently backs three crypto-assets Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH). The company has plans to release the iOS version of the app in September.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.