When starting out in cryptocurrency investing, one of the first hurdles is understanding the difference between a sales agency (sales desk) and an exchange. Both allow you to buy and sell digital assets like Bitcoin, but their mechanisms, user experience, and ideal use cases vary significantly.
In this guide, we’ll clearly explain the pros and cons of sales desks and exchanges as of 2025. Whether you're a complete beginner or looking to refine your strategy, you'll gain actionable insights to help you choose the right platform. Let’s dive in.
Understanding the Core Differences: Sales Desk vs Exchange
In Japan, cryptocurrency trading services are provided by registered virtual asset exchange operators under the Financial Services Agency (FSA). Major platforms like SBI VC Trade, bitbank, and Coincheck offer both sales desk and exchange functionalities.
But what sets them apart?
1. Who You’re Trading With
The fundamental distinction lies in your counterparty during a trade.
- Sales Desk: You trade directly with the platform operator.
Think of it like buying groceries at a supermarket — the store sets the price, and you pay to acquire the product instantly. - Exchange (Trading Platform): You trade with other users.
This works similarly to a peer-to-peer marketplace. Buyers and sellers post their desired prices, and the system matches orders when they align.
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2. Order Types and Execution
How you place trades also differs significantly.
- Sales Desk:
Most platforms use market orders — you specify the amount you want to buy or sell, and the transaction executes instantly at the displayed rate. Some services now support limit orders, allowing price-specific purchases, but this isn’t universal. - Exchange:
Offers advanced order types such as limit orders, market orders, and stop-limit orders. You can set exact buy/sell prices or automate trades based on market conditions, giving you greater control over your investment strategy.
Pros and Cons of Using a Sales Desk
Sales desks are often the go-to choice for beginners due to their simplicity and speed.
✅ Advantages of a Sales Desk
- Simple and Intuitive Interface
No complex order books or fluctuating spreads to monitor. Just select the amount, confirm the price, and complete the purchase — ideal for newcomers. - Fast Execution
Since you’re trading with the platform, transactions settle instantly. There’s no waiting for a matching buyer or seller. - Wide Range of Supported Assets
Many sales desks list altcoins not available on exchanges, making them ideal if you’re exploring niche or emerging projects. - Ideal for Long-Term Investing
Most sales desks support dollar-cost averaging (DCA) or recurring purchases, helping users build positions gradually without stress.
❌ Drawbacks of a Sales Desk
- Wider Spreads
The difference between buy and sell prices (spread) is typically higher because the platform absorbs market risk and operational costs. During volatile periods, this can make trading noticeably more expensive. - Limited Order Flexibility
Advanced strategies like setting future buy triggers or conditional sales are often unavailable or restricted. - Spot Trading Only
You cannot use leverage or engage in margin trading directly through most sales desks — a limitation for active traders.
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Pros and Cons of Using an Exchange
Exchanges cater more to active traders who want precision, lower costs, and advanced tools.
✅ Advantages of an Exchange
- Narrower Spreads & Lower Fees
Since trades occur peer-to-peer, spreads are generally tighter. Some platforms even offer zero-fee trading during promotions or for high-volume users. - Leverage and Margin Trading (Where Permitted)
Eligible users can trade with leverage — amplifying potential gains (and risks). Note that in Japan, leverage is typically capped at 2x for retail investors due to regulatory limits. - Advanced Order Types
Use limit orders, stop-loss triggers, and conditional strategies to automate your portfolio management. This level of control is essential for technical traders.
❌ Drawbacks of an Exchange
- Slower or Failed Executions
If there’s no matching order at your desired price — especially with low-liquidity coins — your trade may not go through immediately, or at all. - Fewer Supported Coins
Exchanges often list only major cryptocurrencies like Bitcoin and Ethereum. You might find that a coin available on a sales desk isn’t tradable via exchange mode. - Steeper Learning Curve
Understanding order books, liquidity, and trading mechanics can be overwhelming for beginners. The interface may feel cluttered compared to streamlined sales desks.
Frequently Asked Questions (FAQ)
Q: Which is better for beginners — a sales desk or an exchange?
A: A sales desk is generally better for beginners due to its simplicity, instant execution, and user-friendly design. It’s perfect for buying and holding crypto without worrying about complex trading mechanics.
Q: Can I use both a sales desk and an exchange?
A: Yes — many platforms like Coincheck and bitbank offer both. Use the sales desk for initial purchases and long-term holds, then switch to the exchange for active trading when you’re ready.
Q: Are sales desks more expensive than exchanges?
A: Typically, yes. Due to wider spreads, frequent traders may pay more over time. However, for occasional buyers focused on long-term growth, the cost difference is often negligible.
Q: Is leverage trading available on sales desks?
A: No. Leverage or margin trading requires an exchange setup where positions are matched and managed dynamically. Sales desks only support spot transactions.
Q: Do exchanges have higher security risks?
A: Not necessarily. Reputable exchanges implement strong security measures like cold storage, two-factor authentication (2FA), and insurance funds. Always choose FSA-registered platforms regardless of type.
Q: Can I do dollar-cost averaging on an exchange?
A: Some exchanges support recurring buys, but this feature is more commonly found on sales desks. Check individual platform offerings before committing.
Top Platforms Recommended for Beginners (2025)
While both models have merit, certain platforms stand out for combining accessibility with robust features.
Coincheck
As one of Japan’s most downloaded crypto apps, Coincheck excels in simplicity. Its sales desk interface is beginner-friendly, with clear pricing, easy navigation, and reliable recurring purchase options. Ideal for those focused on long-term Bitcoin or altcoin accumulation.
SBI VC Trade
Backed by the SBI Group, this platform offers strong credibility. Features like auto-staking for ETH and SOL, free withdrawals, and integrated savings tools make it great for passive income seekers.
bitbank
Known for its early adoption of order-book trading in Japan, bitbank supports a wide range of coins on both sales desk and exchange modes. Its mobile app allows quick price checks from the lock screen — perfect for active traders on the go.
OKCoin Japan (OKJ)
Part of the global OKX ecosystem, OKJ offers tight spreads on major pairs like BTC/JPY and ETH/JPY. With support for advanced order types and 100% cold wallet storage, it balances performance and security effectively.
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Final Thoughts: Choose Based on Your Goals
There’s no one-size-fits-all answer. Your choice should align with your investment style:
- If you're new and want to buy and hold, start with a sales desk.
- If you plan to trade actively, use limit orders, or explore leverage, transition to an exchange as you gain confidence.
Many top platforms now offer both models — giving you the flexibility to grow with your knowledge. Start simple, learn consistently, and scale your strategy wisely.
By understanding these core differences, you’ll make smarter decisions, reduce unnecessary costs, and build a stronger foundation in the world of digital assets.