Line has launched its crypto trading platform "Bitmax"

Bitmax will initially allow users to trade in five major cryptocurrencies, including Bitcoin and Litecoin.
By enabling transactions of under 1,000 Japanese yen, Bitmax is attracting new crypto traders.

Rajarshi Mitra Independent Analyst

Line, a popular Japanese messaging platform, has launched its crypto trading platform Bitmax on September 17. It has received regulatory approval required to operate a crypto exchange early this month. Following this, Line’s blockchain arm LVC Corporation officially introduced the launch. Initially, Bitmax will allow customers to trade in Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC).

Using its mobile payment service Line Pay, Line currently accepts deposits and withdrawals. Meanwhile, crypto tradings services can be accessed from Line Wallet. Bitmax welcomes newcomers to crypto trading by enabling them to carry out small transactions of under 1,000 Japanese yen — worth around $9 at press time.

According to the announcement, Bitmax is different from Bitbox. The latter, which operates globally, doesn’t provide services in Japan and the US. Reportedly, this was caused due to Japan’s crypto exchange license requirements.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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