Coincheck Review 2024

Coincheck, a crypto exchange that requires a minimum deposit of $10 and at least 500 JPY or equivalent for opening an order. There are no fees for making deposits in JPY or cryptocurrencies on the platform, headquartered in Tokyo.

Coincheck Company Information + Regulation

Based on the data on Crunchbase, Coincheck was founded in August 2012 by James Riney, Koichiro Wada, Masakazu Sasaki, and Yusuke Otsuka. The exchange has rapidly become one of Japan's leading cryptocurrency exchanges.

The company's journey hasn't been without challenges, but its resilience and commitment to improvement have solidified its position in the domestic market.

Key points about Coincheck's company information and regulation:

• Headquarters: Tokyo, Japan
• Parent Company: Monex Group

Summary of Key Features

In this section, we will take a look at a table including the main specifics of the company. Coincheck's Specifications:

User Leveling System on Coincheck

Based on the investigations made on the website and the available resources, the mentioned exchange does not work on a user-leveling structure.

Fees and Commissions; How Much Does Trading Cost on Coincheck?

Fees are so important when it comes to trading; they can make a huge difference in the final output of the order. Coincheck's ‌Commissions:

The company does not offer a tier system for commissions, which is a bold drawback. Always check the current fee schedule on Coincheck's website for the most up-to-date information.

List of Coins and Tokens

Coincheck offers a limited range of cryptocurrencies for trading. However, the selection covers several popular options. Coincheck Assets List:

• Bitcoin [BTC]
• Ethereum [ETH]
• Ripple [XRP]
• Bitcoin Cash [BCH]
• Litecoin [LTC]
• Shiba Inu [SHIB]
• Apecoin [APE]
• Polygon [MATIC]

Additionally, Coincheck regularly evaluates new cryptocurrencies for potential listing, expanding its offerings to meet market demands and trends.

Does The Exchange Offer Futures and Margin Trading?

Based on our investigations on the website, Coincheck used to offer margin trading, allowing users to amplify their potential profits (and risks) by trading with borrowed funds. However, the situation has changed, and the exchange has stopped offering such a service.

The exchange does not offer a futures trading option either.

Registration and Verification on Coincheck Exchange: Step-by-Step Tutorial

Getting started with the mentioned exchange is a straightforward process. Here's a step-by-step guide to help you navigate the registration process:

• Visit the Coincheck website and click on "Register";

• Enter your email address and create a strong password;
• Verify your email address by clicking the link received in your inbox;

Now, your account is created. To verify, click on "Verify Account" to begin the KYC process. You will be required to:

• Enter and verify your phone number;
• Provide personal information (name, address, date of birth, etc.);
• Upload a clear photo of a valid government-issued ID (passport, driver's license, etc.);
• Take a selfie holding your ID and a piece of paper with "Coincheck" and the current date written on it.

After passing these phases, wait for your account to be verified by the company.

Security & Safety Evaluation

Security is paramount in the crypto world, and Coincheck has tried to take serious measures in this regard. Here's an overview of the exchange's current security practices:

• Cold Storage: User funds are stored in offline, cold wallets;
• Two-Factor Authentication (2FA): Mandatory for all accounts during login;
• SSL Encryption: All data transmissions are encrypted;
• Confirmed System Security: Security confirmed with multiple safety firms from across the globe.

Keep in mind that no exchange is 100% secure, and you should always have the necessary level of caution.

What Payment Methods are Used with Coincheck?

The exchange takes a normal approach to the deposit and withdrawal options. Actually, it offers a short list of methods:

• Bank Transfer: The most common method for JPY deposits and withdrawals
• Cryptocurrency Deposits: Direct transfers from external wallets

The company could also provide credit/debit card payments or support for e-wallets such as PayPal, Neteller, etc., to perform better in this regard.

Trust Scores and Reviews

Most companies have a page on certain websites such as Trustpilot showing an evaluation or a trust score. That rating could help us have a good overview of the company's situation. Coincheck Trust Scores:

• Trustpilot: 1.8/5 stars (based on more than 15 user reviews)
• REVIEWS.io: 2.8 out of 5 (with over 10 ratings)
• CoinGecko: 5/10, evaluated by the website

Overall, this crypto exchange hasn't been able to achieve a good enough score on trust websites. Also, the number of scores are too low. This could be because its services are limited for clients from outside of Japan.

Support Contact Methods and Working Schedule

Coincheck offers several support channels to assist users. However, we couldn't find a live chat button anywhere on the official website. Contact Methods:

• Email: info@coincheck.com
• Phone Call: 00810570026200
• Ticket: Submit on the website

Also, the website has a "Help Center" section covering the answers to the most frequently asked questions related to the exchange's services, platforms, etc.

Another drawback regarding this company's support is it does not state any working hours for answering users' questions.

Writer's opinion and conclusion

Coincheck has received a 1.8/5 score on the Trustpilot website, with +15 user reviews. Traders on the REVIEWS.io platform have given the exchange a 2.8/5 with over 10 ratings. Furthermore, CoinGecko has evaluated the company's performance and services as 5/10.