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, which is 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
Coincheck is fully licensed to operate as a cryptocurrency exchange in Japan and adheres to strict national standards. It is audited by the Japan Blockchain Association and holds membership in regulatory bodies, including the Japan Virtual Currency Business Operator Association and the General Association of FinTech.
The exchange maintains capital reserves of approximately ¥92 million, affirming its financial stability.
Summary of Key Features
In this section, we will take a look at a table that includes the company's main specifics. Coincheck's Specifications:
Exchange | Coincheck |
Launch Date | 2012 |
Levels | N/A |
Trading Fees | 0-0.1% |
Restricted Countries | United States, Canada, Germany, France, Netherlands, etc. |
Supported Coins | BTC, ETH, SHIB, LTC, etc. |
Futures Trading | No |
Minimum Deposit | 10 USDT |
Deposit Methods | Crypto, Bank Transfer |
Withdrawal Methods | Crypto, Bank Transfer |
Maximum Leverage | N/A |
Minimum Trade Amount | 500 JPY |
Security Factors | 2FA, Cold Storage |
Services | Lending, Denki, Coincheck Gas |
Customer Support Ways | Phone Call, Email Address, Ticket |
Customer Support Hours | Not Specified |
Fiat Deposit | JPY |
Affiliate Program | No |
Orders Execution | Not Specified |
Native Token | N/A |
Benefits and Drawbacks
Like any crypto exchange, Coincheck has its strengths and weaknesses in providing user services. Let's break them down:
Benefits | Drawbacks |
User-Friendly Interface | Fewer Trading Pairs Compared To Global Exchanges |
Mobile App For Convenient Trading | Limited Advanced Trading Features |
Crypto Lending | - |
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-level 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:
Spot Trading | 0-0.1% |
Deposits (Crypto) | Free |
Deposits (JPY) | Free |
Withdrawals | Varies |
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
Opening a trading account on Coincheck, a major Japanese cryptocurrency exchange, involves both email-based signup and a KYC process aligned with regulatory standards.
#1 Create Your Coincheck Account
Visit the official Coincheck website and select "Register". Input a valid email address and choose a secure password.
Confirm your registration by clicking the activation link sent to your inbox.
#2 Start the KYC Procedure
Log in and click "Verify Account" to begin. Submit the following:
- A mobile number for SMS confirmation
- Full personal details including name, birthdate, and residential address
- A clear image of a valid government-issued ID (passport, driver’s license, etc.)
- A selfie holding your ID and a handwritten note with the word “Coincheck” and today’s date
#3 Await Verification
Once submitted, your documents will be reviewed. If approved, you’ll receive access to trading and withdrawal features.
- 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.
Platforms and Applications
Usually, crypto exchanges develop their proprietary platforms for trading. Coincheck is no different and offers these platforms:
- Trade View (Web): A user-friendly interface accessible from any modern web browser, more suitable for PC users
- Mobile App: Available for Android devices, offering full trading functionality on-the-go in a very convenient way
The mobile app has achieved a decent score of 4/5 from users on the Google Play Store.
We suggest iOS users work with Trade View. You can download or access the platforms mentioned above via these links:
Key features of Coincheck's platforms
- Real-time market data and charts with access to indicators
- Multiple order types (market, limit, stop)
- Portfolio tracking and performance analysis
- News feed and market insights
- Secure login with 2FA support
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:
- Coincheck 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 is too low. This could be because its services are limited for clients from outside of Japan.
Coincheck Features
The crypto exchange does not offer much beyond spot trading options. Look at this table:
Staking | No |
Yield Farming | No |
Social Trading | No |
Launchpool | No |
Crypto Cards | No |
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.
Copy Trading Services and Investment Options
Copy Trading is one of the most popular ways for traders to earn passive income in the crypto market. Unfortunately, Coincheck does not offer copy trading services. However, another investment option is available.
This platform offers a product called "Coincheck Lending". With this service, you can lend your digital assets and earn interest on them. Lending Key Features:
- All crypto assets listed on the exchange are available for lending
- Maximum annual interest rate up to 5%
- Payments are done after the assets are returned to the user
Coincheck Restricted Countries: Can You Trade on This Exchange?
The exchange primarily serves the Japanese market and has limited availability internationally. The list of restricted countries and regions includes, but is not limited to:
- United States
- Canada
- Germany
- France
- Netherlands
- Spain
- Italy
Users outside Japan should verify their eligibility before attempting to use Coincheck's services.
Coincheck or Another Exchange? Table of Comparison
The comprehensive comparison drawn in the table below demonstrates a fair evaluation of Coincheck's offerings and advantages:
Features | Coincheck Exchange | LBank Exchange | Gate.io Exchange | MEXC Exchange |
Number of Assets | 30+ | 700+ | 2800+ | 2800+ |
Maximum Leverage | N/A | 1:125 | 1:100 | 1:200 |
Minimum Deposit | 10 USDT | Varies by Cryptocurrency | Varies by Payment Method | $1 |
Spot Maker Fee | 0% - 0.1% | 0.02% | From -0.005% | 0.05% |
Spot Taker Fee | 0% - 0.1% | 0.02% | From 0.025% | 0.05% |
Mandatory KYC | Yes | No | Yes | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | No | Yes |
Staking | No | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | Yes |
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.