Buy Digital JPY | Buy GYEN in 4 Steps (May 2024)

A product of GMO-Z.com, the digital JPY is a stablecoin known as ‘GYEN'.  GYEN are built atop the Ethereum network and structured as ERC-20 tokens.

GYEN are claimed to maintain full backing through various reserve assets, with GMO-Z.com stating these tokens, ‘…will only be issued wen the corresponding collateralized fiat is placed in custody with a third-party trustee'.

Stablecoins underpin the entire digital asset market, providing a variety of benefits to holders.  GMO-Z.com notes the following as what it believes are the top use-cases for GYEN.

• volatility hedging
• payments
• clearing/settlements
• remittance
• financial inclusion

Beyond providing investors with the aforementioned use cases, GMO-Z.com notes that GYEN offers holders the following perks.

• transparency (monthly independent audits)
• liquidity (always redeemable for JPY)
• peer-2-peer (no middleman raising trust issues)

With all the described use-cases and perks, GMO-Z.com believes that its, ‘digital assets will bridge the technology, trust and efficiency benefits of the blockchain with the trustworthiness and stability of traditional currencies'.

GMO-Z.com notes that in order for it to offer access to GYEN, it maintains a ‘Limited Purpose Trust charter' by the New York State Department of Financial Services (NYDFS).

To learn more visit our Investing in GYEN guide.

How to Buy Digital JPY (GYEN) in 4 Steps

The whole process can take as little as 10 minutes and all you'll need is a smartphone or computer, photo identification and a means of payment.

1. Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Digital JPY (GYEN) cryptocurrency.
2. Create an account – Verify your email address and identity.
3. Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
4. Buy Digital JPY – Use your funds to Buy GYEN.

We list the top exchanges that offer the ability to buy Digital JPY (GYEN) cryptocurrency with a credit card, debit card, or Bitcoin (BTC).

1. Coinbase

Coinbase is a publicly traded crypto exchange listed on the NASDAQ.  It is one of the most widely used exchanges in the United States and accepts clients from 100+ countries including Australia, Canada, Singapore, and the UK.

Over 460 billion dollars in volume has been traded by over 70 million users at Coinbase. Security is a paramount feature with 98% of customer funds being stored in secure offline storage. The platform is simple to use and is available on desktop, Android, and iOS, offering trading opportunities in over 140 cryptocurrencies including Digital JPY (GYEN).

This exchange currently accepts USA residents excluding Hawaii.

Read our Coinbase Review or visit Coinbase.

2. Liquid

Based out of Japan, Liquid is a popular exchange for trading digital assets such as Digital JPY (GYEN).  With support for over 100 assets and high volumes, Liquid is solid option for traders.

Liquid is available on both desktop and mobile, and offers features such as,

• Up to 25x leverage
• 24/7 support
• Flexible FIAT gateways

Liquid notes that its mission is to, ‘…build a secure and progressive cryptocurrency ecosystem that suits all market participants'.

Since its founding in 2014, Liquid has gone on to establish a global presence, maintaining offices from Asia to North America.

3. Uniswap

Uniswap is a decentralized exchange (DEX) for swapping tokens, which uses an automated market maker (AMM) model that allows users to trade against a liquidity pool. While this is obviously a good option to purchase Digital JPY (GYEN), we only recommend this platform for advanced users.  Due to the fact that this is exchange is decentralized, you are liable for any losses due to errors made.

Learning to use decentralized exchanges is not for the faint of heart. We recommend coinbase.com instead.