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Coincheck Review 2024 – Features, Fees, Security & More

Publisher

January 2, 2024
Coincheck Review 2023

Coincheck is one of Asia’s top cryptocurrency exchanges, active since 2014. The Japanese exchange has over 2 million users, offering access to a wide range of cryptos, including BTC, ETH, ETC, XRP, LTC, and XLM, with a 24-hour trading volume of over $80 million.

Aside from providing crypto exchange services, Coincheck also offers other services which include:

Periodic Purchases: Users can automatically purchase crypto each month and lower the timing risk for their investments.

Crypto Lending: Users can lend out their cryptocurrencies and earn interest in return.

Coincheck Denki: If you’re in Japan, you can use Bitcoin to pay your electricity bills and earn cashback.

 

Coincheck Pros and Cons

👍 Coincheck Pros👎 Coincheck Cons
✅ Simple interface, easy to navigate❌ No chat-based customer support
✅ Offers wallet apps❌ A limited number of cryptos
✅ OTC trading
✅ Adequate educational resources
✅ Advanced trading tools

 

Coincheck Trading Fees

The exchange charges zero fees for makers and zero payments for takers. This means Coincheck doesn’t charge trading transaction fees; therefore, buying and selling cryptocurrencies on the platform are completely free.

 

Deposit and Withdrawal Fees

Users can deposit crypto using several methods, including bank transfers or debit/credit cards if funding an account using fiat currency. Yen bank transfer deposits are free of charge, but promises made in USD are charged a flat rate of $25 or ¥2500 from non-Japanese bank accounts. Coincheck allows withdrawals to a bank account or credit card for fiat currency and external wallets for cryptos. USD withdrawals are charged ¥2500, while Yen withdrawals are charged ¥400. Cryptocurrency withdrawals depend on the coin and selected blockchain network.

 

What Services does Coincheck Offer?

Wallet Support:

The exchange provides digital wallets for users to store their cryptocurrencies. These wallets are secure digital repositories that store private keys, allowing users to send, receive, and manage their cryptocurrency holdings. The Coincheck wallet supports over 20 cryptocurrencies, including BTC, ETH, ETC, XRP, LTC, and XLM.

 

IOS and Android Mobile Apps:

Coincheck understands that many traders are only tied to their computers a few times daily and need access to a mobile exchange version. Coincheck offers a mobile app for Android and iOS devices with a 3.6/5 star rating on the Google Play Store. The app allows users to trade cryptocurrencies, view market data, and manage their portfolios using smartphones or tablets.

 

Advanced Security:

To enhance user account security, Coincheck uses advanced security measures to improve user account security, including two-factor authentication, cold storage, and system security. Coincheck is also licensed and regulated by the Japan Blockchain Association to operate as a crypto exchange in Japan and internationally.

 

Advanced Trading Layout:

Users can access a professional trading environment with an intuitive interface with all the necessary functions and tools. The trading view is well-designed with intuitive usability to accommodate beginners and small traders with low capital.

 

Customer Support:

Another thing about Coincheck is that it offers reliable 24/7 customer support to attend to any user queries. The platform features multilingual support encompassing English, Japanese, Chinese, and Indonesian. Additionally, it offers support through a ‘Help Centre’ with FAQ.

 

Conclusion

As one of the top crypto exchanges in Japan, Coincheck offers an easy-to-use trading interface, wallet support, support for fiat currencies, and free trading. Coincheck has published its team, and it is licensed and regulated under the Japan Financial Services Agency. Although it is available internationally and supports various languages, it is not available in the United States.

 

FAQs

Is Coincheck safe?

Yes, Coincheck is safe. The exchange is fully licensed and regulated by Japanese regulatory authorities.

 

Can you Buy Bitcoin on Coincheck?

Yes, you can easily buy Bitcoin and other cryptos on Coincheck through their marketplace at zero fees or through OTC trading.

 

Can U.S residents use Coincheck?

No, Coincheck is not available for U.S. citizens.

 

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