Comparing Fees: Rakuten Wallet vs. Cryptocurrency Exchanges

What Is Rakuten Wallet? Features and Core Functions Explained

Rakuten Wallet is a cryptocurrency trading service operated by the Rakuten Group, with its most distinctive feature being the ability to purchase digital assets using Rakuten Points. The dedicated mobile app enables users to trade cryptocurrencies anytime, anywhere, making it especially accessible for beginners.

Rakuten Wallet supports two trading types: spot trading and margin trading (leveraged trading). In spot trading, users directly buy and hold cryptocurrencies such as Bitcoin and Ethereum, with zero trading and deposit fees. Margin trading lets users control larger positions with less capital, targeting traders seeking higher risk and greater returns.

Rakuten Wallet’s standout feature is its point integration—users can exchange Rakuten Points for cryptocurrencies. Starting from 100 points, users can invest in major digital assets like Bitcoin and Ethereum, enabling cashless entry into the crypto market and making it exceptionally beginner-friendly. Purchased crypto can also be charged to Rakuten Cash for use in Rakuten Ichiba shopping.

Rakuten Wallet maintains robust security standards. As a Financial Services Agency-registered provider, it offers strong reliability, asset trust protection, and offline cold wallet storage. Advanced security measures such as two-factor authentication are implemented, ensuring a secure environment for all users.

Available Cryptocurrencies

The following cryptocurrencies are available on Rakuten Wallet:

Rakuten Wallet: Advantages and Disadvantages

Advantages

The primary advantage of Rakuten Wallet is the ability to invest in cryptocurrencies using Rakuten Points. For users who accumulate points within the Rakuten ecosystem, this structure offers direct, convenient access to crypto investing. It enables users to begin investing without cash outlay, significantly lowering the entry barrier for newcomers.

Rakuten Wallet also provides zero trading and deposit fees, and integrates seamlessly with Rakuten Bank for real-time deposits and withdrawals. Rakuten Bank account holders benefit from instant fund transfers, enabling agile investment decisions without missing market opportunities.

Additionally, the platform supports trading 24/7, 365 days a year—including weekends and holidays—so users can trade whenever they choose. With crypto markets operating continuously, this flexibility is a substantial advantage.

Disadvantages

Rakuten Wallet does have notable limitations. The selection of supported cryptocurrencies is small—only three assets are available for spot trading, which restricts choices compared to major exchanges. Investors seeking broader altcoin exposure may find the platform lacking.

Wide spreads (the difference between buy and sell prices) represent another drawback, resulting in higher effective trade costs. Even with zero trading fees, the spread is a significant expense for active traders.

Rakuten Wallet does not offer lending services, making it less suitable for long-term asset management. Passive income opportunities, such as earning interest by lending crypto, are absent—an important factor for long-term investors.

Only brokerage-style trading is available; exchange-style order book trading is not supported. This may reduce cost advantages for investors seeking tighter pricing. Without order book mechanisms, users may miss opportunities for better prices.

Rakuten Wallet is an accessible entry point for users interested in crypto investing via Rakuten Points, but those seeking asset diversity or long-term management should consider using it alongside other exchanges.

Comparing Rakuten Wallet and Crypto Exchanges by Fees

Fee structure is a critical consideration when selecting a crypto exchange. Below, we compare Rakuten Wallet’s fees with those of leading Japanese exchanges and outline each platform’s characteristics.

Domestic Exchanges vs. Rakuten Wallet: Fee Comparison

The table below compares fees across Rakuten Wallet and major domestic exchanges:

The table highlights significant differences in fee structures among exchanges. Rakuten Wallet offers free deposits, but its withdrawal fee is set at ¥300. Since only brokerage-style trading is supported, users should be mindful of effective costs from spreads.

Rakuten Wallet vs. Major Exchange A: Fees and Usability Comparison

Fees

Rakuten Wallet supports only brokerage-style trading, with zero trading fees but spreads as the effective cost. The withdrawal fee for yen is ¥300, and Bitcoin transfers incur a 0.001 BTC fee. Major exchanges often offer both brokerage and exchange trading, with lower fees for exchange-style transactions.

Exchange-style platforms allow users to trade directly, resulting in tighter spreads and more favorable pricing—particularly impactful for high-volume traders.

Usability

Rakuten Wallet’s greatest strength is its Rakuten Point integration, which is highly convenient for Rakuten ecosystem users. The interface is simple and beginner-friendly. However, the platform offers limited advanced features.

Other major exchanges provide intuitive interfaces and a wide range of features, including auto-investing, NFT markets, and lending, supporting users from beginner to advanced levels.

Rakuten Wallet suits those looking to use Rakuten Points, while users focused on fees or features should also consider other exchanges.

Rakuten Wallet vs. Major Exchange B: Fees and Security Comparison

Fees

Rakuten Wallet only supports brokerage-style trading, with zero trading fees but wide spreads that increase effective costs. The fixed withdrawal fee is ¥300, and crypto transfer fees are relatively high.

Some major exchanges provide both brokerage and exchange options. Exchange fees vary by asset and transaction type, typically ranging from 0.01% to 0.15%. While brokerage spreads are wide, using the exchange format allows for lower transaction costs.

Security

Rakuten Wallet employs asset segregation and trust management through the Rakuten Group for robust security. Transactions within the Rakuten ecosystem and point usage offer a safe environment. As a Financial Services Agency-registered entity, Rakuten Wallet maintains strict compliance.

Other major exchanges utilize multi-layered defenses and cold wallets. Asset segregation is thorough, and some offer compensation for hacking incidents, enhancing user protection.

Rakuten Wallet may lag on fees, but its reliability and point integration are major strengths. Users seeking frequent or low-cost trading should consider platforms offering exchange-style trading.

Rakuten Wallet vs. Major Exchange C: Fees and Asset Selection Comparison

Fees

Rakuten Wallet only supports brokerage-style trading, with zero trading fees but wide spreads that result in higher effective costs. The withdrawal fee is set at ¥300, which is relatively reasonable.

Major exchange-style platforms set fees by asset. For instance, BTC/JPY may offer negative maker fees (rebates) and taker fees around 0.12%, benefiting frequent traders. Negative maker fees pay users for filled limit orders.

Asset Selection

Rakuten Wallet supports just three spot trading assets: Bitcoin, Ethereum, and Bitcoin Cash. Including margin trading, nine assets are available, including Ripple and Litecoin, but choices are still limited compared to other exchanges.

Some major platforms support 30+ assets, including leading altcoins and emerging projects, enabling investment in a diverse range of cryptocurrencies beyond Bitcoin and Ethereum.

Overall, Rakuten Wallet is simple and easy to use, but trails in asset variety and fees. Users prioritizing broad crypto access should look to platforms with more supported assets. For beginners investing in major coins via Rakuten Points, Rakuten Wallet is the optimal choice.

Rakuten Wallet’s Distinct Advantage: Rakuten Points Integration

Rakuten Wallet’s key strength is its versatile Rakuten Points integration. The platform offers two services: the "Point Exchange Service," letting users convert points earned through Rakuten Group services into spot-tradable crypto, and "Point Bitcoin," which provides a simulated investment experience tied to Bitcoin’s price movements.

Point Exchange Service enables users to convert Rakuten Points at 1 point = ¥1, starting from 100 points, into crypto. Users can conveniently begin crypto investing using points accumulated from everyday Rakuten activity, making it possible to start without spending cash.

This service especially benefits beginners by lowering the psychological barrier—users invest with "accumulated points" rather than personal funds. Points also have expiration dates, so the service offers a practical use case for expiring points.

Point Bitcoin doesn’t involve actual Bitcoin purchases. Instead, users experience point increases or decreases based on Bitcoin’s price, allowing risk-free simulation. If prices go up, points rise; if prices drop, points decrease. This lets beginners experience Bitcoin investing with minimal risk.

Point-based investing is ideal for those curious about crypto but hesitant to spend real funds. Losses only affect points, not cash, making it stress-free for learning. Experiencing actual market movements helps users understand crypto volatility.

These two services enable Rakuten Wallet to flexibly meet diverse user needs. For frequent Rakuten ecosystem users, these features provide a natural onramp to crypto investing and help widen market participation.

Summary

Rakuten Wallet delivers exceptional convenience for Rakuten ecosystem users by leveraging Rakuten Points. The ability to convert daily points into crypto lowers psychological barriers for newcomers, offering an easy entry to the market. Seamless integration with Rakuten Bank for deposits and withdrawals, plus 24/7 trading, further enhance convenience.

However, Rakuten Wallet offers limited asset diversity and is less competitive on fees versus other exchanges. Only three assets are available for spot trading, restricting options for those seeking broader altcoin exposure. Brokerage-only trading means spreads can elevate effective costs, notably for active traders.

Carefully consider fee performance and available services to select the exchange that fits your investment style. Rakuten Wallet’s simplicity and ease of use make it ideal for beginners seeking to invest small amounts via Rakuten Points. Those wanting broader asset selection, lower costs, or features like lending should also explore other platforms.

As the crypto market evolves, exchanges continue to develop unique offerings. Rakuten Wallet’s strengths are its Rakuten integration and beginner-friendly design. Evaluate your investment objectives, experience, and trading frequency, and compare multiple platforms to find your optimal environment. Diversifying across several exchanges is also a prudent risk management strategy.

FAQ

How much are Rakuten Wallet’s crypto trading fees?

Rakuten Wallet charges no trading fees for cryptocurrencies. However, blockchain network and miner fees are paid by the user. Only spot trading is covered.

Are Rakuten Wallet’s fees lower than other crypto exchanges?

Other exchanges generally offer lower fees. For example, Bitcoin withdrawal fees are typically below 0.0005 BTC and yen withdrawals are around ¥407—both lower than Rakuten Wallet.

What total fees apply when trading crypto on Rakuten Wallet?

Rakuten Wallet fees include a ¥300 withdrawal fee, ¥0 deposit fee, and a Bitcoin withdrawal fee of 0.001 BTC. Sending wallet fees are charged separately.

What types of fees do crypto exchanges charge?

Crypto exchanges charge trading fees, leverage fees, spreads, withdrawal fees, and deposit/withdrawal fees. Fees vary by trading method and services used.

What are the non-fee advantages of Rakuten Wallet?

Rakuten Wallet offers a straightforward interface, high security, robust Japanese-language support, and Rakuten Point integration—providing a secure environment for both beginners and advanced users.