Crypto wallets in Japan: pick one your exchange will send to

Will your Japanese exchange send to that wallet?

On 1 June 2023 Japan switched on the Travel RuleA global anti-money-laundering rule: when crypto moves between providers, sender and recipient details travel with it. In Japan it applies under the Act on Prevention of Transfer of Criminal Proceeds. (トラベルルール). When you send crypto from one Japanese exchange to another, the two firms must swap your name and address details along with the transfer. Withdrawals to an unhosted walletA wallet you control yourself, outside any exchange or provider. Also called self-hosted or self-custody wallet. such as MetaMask or a Ledger aren't covered by that notification duty, but the FSA expects exchanges to collect and keep information about who owns the destination.

In practice, that means a short questionnaire on the withdrawal screen. You'll be asked whether the address belongs to you or to someone else, and what kind of wallet it is. Some exchanges also make you register the address in advance and wait for it to be approved. The exact flow differs between exchanges, and the help pages are often in Japanese only, so give yourself time the first time you do it.

There's a second quirk expats run into. Japanese exchanges don't all use the same Travel Rule messaging network; TRUST and Sygna are two that don't connect with each other. Send directly between exchanges on different systems and the transfer can be refused. The usual workaround is to withdraw to your own wallet and deposit from there, which is one reason even casual users end up needing a wallet. Some exchanges also block transfers to certain overseas platforms.

Holding periods: why your withdrawal button is greyed out

Anti-fraud rules increasingly put a delay between money coming in and crypto going out. At bitFlyer, funds from a quick deposit can't be used for crypto withdrawals for seven days (per its fee page as archived in 2025). At GMO Coin, yen paid in via Pay-easy is locked for seven days for crypto transfers. These locks exist because fraudsters like to push victims' money straight through an exchange and out to a wallet.

• 1 June 2023Travel Rule starts Exchange-to-exchange transfers must carry sender and recipient data.
• 15 July 2026FIEA amendment enacted Crypto moves under the Financial Instruments and Exchange Act.
• 6 August 2026FSA and police anti-fraud request Industry asked to add sending limits after deposits, address pre-registration with waiting periods, withdrawal caps and name checks.
• By about July 2027New crypto rules take effect A cooling-off period is planned so new accounts can't send to unhosted wallets straight after opening.

The takeaway: if you'll need to move coins to a wallet, open your exchange account early and do a small test withdrawal well before it matters. If you're new to the account-opening process, our guide on how to buy bitcoin in Japan covers residence cards and eKYC.

Keep it on the exchange or hold it yourself?

Wallets come in two broad kinds. With a custodialThe provider holds the keys for you, as an exchange account does. You log in with a password and can recover access through identity checks. setup, an exchange or app holds the keys. With self-custody, you do.

If you mostly buy and hold, or trade, staying on a registered exchange is a reasonable choice, and the new law will require exchanges to build reserves for compensating customers after a hack. Check any exchange against our FSA-registered exchanges list. If you want Web3 apps, long-term independence or a clean way to move coins between countries, set up self-custody.

Hot wallets vs cold wallets

Self-custody wallets split again by how they touch the internet. A hot walletA wallet whose keys live on an internet-connected device, such as a phone app or browser extension. Convenient, but exposed to malware and phishing. is an app or browser extension: free, quick and always online. A cold walletA wallet that keeps keys offline, typically a hardware device that signs transactions without exposing the key to your computer., usually a hardware device, keeps the key offline and asks you to approve each transaction on the device itself, so a hacked laptop can't simply drain it.

Most people use both: a hot wallet with spending money for apps, and a cold wallet for savings they won't touch for months. It's the same logic as carrying a little cash and keeping the rest in the bank.

MetaMask, Phantom, Trust Wallet and Japan's own wallets

These are the software wallets you'll hear about most in Japan. The table describes what each is for, not which is "best". Whether a Japanese exchange can send to it depends on the network, not the wallet brand.

MetaMask is the default for Ethereum-world apps. Every transaction costs a gas feeThe network fee paid to have a transaction processed on a blockchain. On Ethereum-style chains it is paid in ETH or the chain's own coin, and rises when the network is busy., so keep a little ETH (or the relevant chain's coin) alongside your tokens. When withdrawing from a Japanese exchange, double-check that the network you pick on the exchange matches the one selected in MetaMask; mismatches can mean lost funds. And never click "approve" or sign a message on a site you don't fully trust; malicious approvals are a classic way wallets get drained. Our crypto scams guide shows the common tricks.

HashPort Wallet took over from the official Expo 2025 Osaka digital wallet, which had about one million downloads and 5.9 million transactions when the Expo closed; later releases cite over 1.1 million downloads. Its main draw is JPYC, the yen stablecoin; our JPYC explainer covers how to get it. Since 30 September 2026, au PAY users can also use the αU wallet, built on HashPort's infrastructure, without leaving the au PAY app.

Ledger, Trezor and Tangem: buying hardware in Japan safely

A hardware wallet is only as trustworthy as the route it took to your hands. That became painfully concrete in October 2026.

• Buy from ledger.com or a reseller on Ledger's official partner page. The same rule applies to Trezor.
• Skip second-hand devices, Mercari, auctions and anonymous marketplace sellers, however good the price.
• Run the maker's authenticity check (Ledger's "Genuine check") as soon as the device arrives.
• If the box contains a card with a recovery phrase already printed or written on it, don't use the device.

Tangem, a card-style hardware wallet, sells direct from its own site, and Japan is not on its list of excluded shipping countries; we found no Japanese authorised reseller. We also couldn't verify Japanese resellers for Trezor. If you're moving to Japan, the device you already own from an official source is fine to bring; a new one ordered from the maker is the next safest option.

Protecting your seed phrase

When you create a self-custody wallet you'll be shown 12 or 24 words. That's your seed phraseA list of 12 to 24 words that can rebuild your wallet's private keys. Anyone who sees it can take your coins. (recovery phrase), and it is the wallet. Anyone who sees it can move your coins from anywhere in the world.

• Write it on paper (or metal) and store it offline. No screenshots, cloud notes or password-manager autofill.
• Never type it into a website or app that asks you to "verify", "sync" or "restore". Real support staff never ask for it.
• Think about earthquakes and fire: a second copy in a different location helps.
• Leave clear instructions for family. Self-custodied crypto can be lost forever if nobody knows it exists.

Sending from a Japanese exchange: steps and fees

1. Match the network

   Check that the exchange supports withdrawals on the network your wallet uses (Bitcoin, Ethereum, Solana and so on).

2. Register and declare the address

   Add the wallet address on the withdrawal screen, declare that it is your own wallet and which type it is, and wait for approval if required.

3. Send a small test

   Withdraw a small amount first and confirm it arrives before sending the rest.

4. Save the record

   Keep the date, amount, fee and destination address for your tax records.

Withdrawal fees vary a lot between exchanges. For bitcoin, the official fee pages show:

If you move coins often, those differences add up. The full picture, including trading and yen withdrawal costs, is in our exchange fee comparison, and the details for the two free options are in the SBI VC Trade review and the GMO Coin review.

Expat situations: offshore exits, arriving and leaving

Your offshore exchange is leaving Japan. Bybit announced in December 2025 that it would end services for Japan residents, and Bitget goes close-only for Japan residents on 1 November 2026, with crypto withdrawals still available. A self-custody wallet is the natural place to move coins before depositing to a registered Japanese exchange. The Japanese exchange may ask where the funds came from. Our offshore exchanges tracker has dates.

You're arriving or leaving. Coins in your own wallet don't care which country you're in, which makes self-custody the simplest way to carry holdings across a move. What changes is tax residency and the cost basis you report. Our guide to moving to or leaving Japan with crypto walks through it.

Tax and record-keeping with a wallet

The National Tax Agency lists selling crypto, swapping one coin for another and paying for goods with crypto among taxable events. Moving coins from your exchange account to your own wallet is none of those. But a token swap in MetaMask on a decentralised exchange is a crypto-to-crypto exchange, taxable on the spot for Japan tax residents. The coming 20% separate tax rate applies only to qualifying trades through registered Japanese firms, so DEX activity is expected to stay under the progressive regime.

Japanese exchanges give you an annual transaction report; wallets and DEXs don't. Keep your own log of dates, amounts, yen values and gas fees, or export from a portfolio tool. Our Japan crypto tax guide explains how gains are calculated. When you want yen back, send the coins to a Japanese exchange and sell; see how to cash out to yen.

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