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JPYX Exchange with eToroX – The Ultimate Crypto Exchange
The Japanese Yen is one of the top three most traded currencies in forex. Cryptocurrency trading also has a large followership in Japan. It was therefore only a matter of time before a stablecoin mirroring this currency was created — and eToro took the lead, offering the JPYX on its eToroX exchange.
eToroX is the first exchange that offers traders a diversified stablecoin portfolio, allowing JPYX to be exchanged for other cryptoassets. In its pairings with other stablecoins on eToroX, it is also possible to trade JPYX pairs that mirror the movements of the fiat equivalents in the forex market, such as USD/JPYX, GBPX/JPYX, or EURX/JPYX.
The Japanese Yen is also a safe haven currency. There has been a lot of recent activity on this currency following the US-China trade war and the impact it has had on global markets. Additionally, the Brexit issue has rendered the British Pound somewhat volatile. Both these situations provides opportunities for trading GBPX/JPYX and USD/JPYX, among others.
Trade JPYX with eToroX
JPYX is paired with several assets, including stablecoin pairings as well as regular cryptoassets, including:
News trading also works when trading the JPYX stablecoin pairs on eToroX. The Non-Farm Payrolls, Core Retail Sales and Manufacturing/Services PMI results from the Institute of Supply Managers are news releases that enable good returns when exchanging or trading JPYX.
Why Trade JPYX with eToroX?
JPYX exchange on eToroX allows you to trade cryptocurrencies with peace of mind. The regulated nature of the exchange means that you can trade safely and securely, as the company operates from Gibraltar — a jurisdiction that has carefully drafted a framework for cryptoasset trading, and classified them under the Distributed Ledger Technology laws. These laws provide regulation and oversight by the Gibraltar Financial Services Commission, meaning that eToroX consumers are protected by the government of Gibraltar.
You can seek redress if you feel the JPYX exchange activities provided have been unsatisfactory. You may even qualify for compensation if your complaints are valid. However, eToroX is duty bound by the stringent conditions attached to its operations to ensure security and safety of its clients’ funds.
About the JPYX Exchange
JPYX is a tokenized stablecoin which represents the Japanese Yen and carries a valuation of 1:1. It therefore represents the JPY as its crypto equivalent. Pioneered by eToro, the creation and listing of JPYX introduces the same elements used in JPY trading in forex into the crypto market, and more.
JPYX was tokenised by eToro Digital Assets in 2019, and these are just some of its features:
- JPYX exchange allows the trading of a crypto without the wild volatility of the market.
- Trading JPYX pairs on eToroX is an alternative trading pathway for JPY currency trading.
- Events that affect the JPY, such as the global trade situations or the value of the Nikkei 225 average, can be used to effectively trade JPYX.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.