Coincheck Review 2021

We would be addressing every bit of the exchange in our Coincheck review. Coincheck, a known Cryptocurrency exchange in Japan, ropes in the residents from diverse jurisdictions as traders on its exchange platform.

In the USA, still is not one of them decided jurisdictions. In accordance, Coincheck never permits US-investors. However, US-investors do not have to get upset, they have another way out.

In the Coincheck review, it has been found that this Cryptocurrency exchange occupies the bulk of the Bitcoin spot trading volume produced in Japan.

They also appear to bid margin trading, charts, price alerts, etc. It also seems to bargain with a limited number of Cryptocurrency pairs.

Coincheck Review

The key currencies compromised look to be Bitcoin (BTC), Lisk (LSK), Ethereum (ETH), Factom (FCT), and XRP (XRP).

  • Main Location: Headquartered in Tokyo, Japan 
  • Transfer Types: Cred Cards
  • Support Contact: 03-6416-5370
  • Daily Volume: $393.99M
  • Mobile App Available: Yes
  • Fees: Very Low
  • Is Decentralized: Virtual currency
  • Parent Company: Monex Group, Inc
  • Website: www.coincheck.com

Pros & Cons of Coincheck

Every exchange has its own dissimilar trading views. Coincheck review provided here would be gathering all important views and aspects for the users. 

However, users themselves must negotiate on which trading suggestion they feel matches their requirements. 

Here are the Pros and Cons provided below collected after a thorough Coincheck review:

Pros of Coincheck

  1. Users get the assurance of their returns.
  2. If there are some discrepancies found, then the company takes ownership.
  3. On social media platforms and forms, the company has gained a hugely positive response.
  4. Coincheck supports multiple Altcoins such as ETH, LSK, XMR, XRP, ZEC, REP, and FCT.
  5. In the Coincheck review, we found that it offers an advantage up to 5x.
  6. Mobile apps and API are available. User-friendly interface
  7. It presents a Tradeview trading platform

Cons of Coincheck

  1. In Cryptocurrency history, the company has grieved the worst hack of any Cryptocurrency exchange.
  2. The exchange lost USD 530 million NEM Bitcoin.
  3. The app and web of the exchange get slow while translating or responding to English-language support.
  4. There are hidden charges found while digging up the Coincheck review doc.
  5. Users complained of high fees
  6. There is zero-trading fee promotion also available but has hidden charges.
  7. There are issues reported in the language support sections.

Features of Coincheck

In the Coincheck review, missing-out on the features would be considered discrimination with Coincheck. 

  1. The company provides excellent user-friendly features to assist everyone gains quick benefits out of the investment.  
  2. This Cryptocurrency exchange supports nine types of cryptocurrencies.
  3. It also supports Bitcoin BTC, Ethereum ETH, ETC, LSK, FCT, XRP, XEM, LTC, BCH, MONA, XLM, QTUM, BAT, and IOST.
  4. All modes of payment are accepted, even credit cards.
  5. It notifies and updates on every research and market-changes.
  6. There has been a hack reported once. Still, the company’s IT security claims to provide a high-security system as investigated while drafting the Coincheck review.

Scams Related to Coincheck

Coincheck with a high-security system was hacked once. The scam was reported to be USD 530 million. The scam affected around 200 customers.

Although, the detailed investigation on the scam during the drafting of the Coincheck review found that the issues occurred due to the customers’ unawareness. 

However, the company took moral responsibility above its reputation. Several social media platforms appreciated the exchange’s statement and respected its decision.      

History of Coincheck

Coincheck is one of Asia’s biggest Cryptocurrency exchanges and administered the maximum volumes of Bitcoin exchange in Japan that concluded the course of 2017. 

Further users also began using Coincheck’s iOS and Android apps in any other Asian exchange.

Keisuke Wada and Yusuke Otsuka recognized the company behind Coincheck in 2012 and the exchange itself initiated operating in 2014. Both organizers are present directors with Wada acting as CEO and Otsuka COO. While nominally, a Japanese exchange Coincheck is accessible globally.

Coincheck Formation Story

In 2014, Coincheck was launched to provide a Bitcoin wallet crypto exchange in Tokyo, Japan. 

In the Coincheck review, we found that the company is a member of the Japan Blockchain Association (JBA). 

JBA comprises two divisions; one division is dealing with Blockchain technologies and another with virtual currency, stated as digital assets. 

Coincheck review also captured this digital asset consisting of the Bitcoin spot trading volume created in Japan.

The respectable company permits 9 types of Cryptocurrencies that can be traded in exchange. The Cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Lisk (LSK), Factom (FCT), etc.

Investors of Coincheck

None of the exchanges can run without investors. In the Coincheck review, we have collected detailed information on investors investing in Coincheck.  

The company has several investors and associations in the Cryptocurrency exchange. However, the data is not revealed about the investors.

Coincheck Supported Countries

Most of the South Asian countries support Coincheck. In the Coincheck review, we found that Nepal, North Korea, South Korea, Sri Lanka, China, etc.

Due to the exchange’s eligibility to support nine cryptocurrencies in transactions, traders from across Asia find it as the next exchange for options to trade.

It offers bid margin trading, charts, price alerts, etc. They also seem to bargain with a limited number of Cryptocurrency pairs.

The key currencies compromised look to be Bitcoin (BTC), Lisk (LSK), Ethereum (ETH), Factom (FCT), and XRP (XRP). 

Types of account available at Coincheck

There is only one type of account used for trading. Once a new user has signed up using an email account, he or she is asked to deposit fiat currency to a registered bank account with the exchange. Users can then buy BTC depending upon the amount 5,000, 10,000, 50,000, 100,000, or type preferred to trade. 

Coincheck Account Verification Process

There are three steps involved in account creation and verification, which readers may like to know in the Coincheck review

  • Go to the Home Page of Coincheck
  • Click on Sign in
  • Complete the signing process
  • On completing the process, the new user will receive a confirmation code on their registered email
  • Always ensure that you accept to opt for two factors Authentication

Further, you need to furnish

  1. Take a selfie of you holding your ID(ID selfie).
  2. Passport
  3. Residence Card
  4. Special Permanent Resident Certificate
  5. Driver’s license

Coincheck Maker & Taker Fees

There are no specified or known maker & taker fees found during the Coincheck review. However, there are fees of 0.001 in lieu of the total traded amount. 

Anchored on the Coincheck’s website, there is a usual maker fee and a taker fee available on the exchange. By paying the Maker fees, users are permitted to add liquidity to the order book for buying and selling Cryptocurrencies. 

Coincheck Review on its Security

Coincheck works on the fiat currency deposits and withdrawals platform and provides two tiers of accounts. Both security features require personal identity verification.

In the Coincheck review, we found that the exchange seeks mobile and email verification along with a two-factor authentication process.

SMS and Email Verification: If any user deposits up to $500 or withdraws up to $300 a day, then he or she is required to go through the email and SMS verification process to confirm the transaction. To enable the verification process, customers are required to produce a government-approved ID for the exchange.

Two-factor authentication: This procedure restricts any type of invalid access to the wallets hosted by Coincheck for cold storage.

Coincheck Available Deposit / Withdrawal Method

Deposits Method

While doing a Coincheck review, we found that the account holders can endow their accounts either through the card (debit/credit) or bank transfer if adding fiat currency. 

Although the Yen bank transfer deposits are available, free of cost yet, USD deposits are charged a flat fee of $25 or ¥2500 from bank accounts. 

Withdrawals Method

While processing a withdrawal in fiat currency or Cryptocurrency wallet, users are charged at ¥400 and USD withdrawals ¥2500. 

Summary of Coincheck Review

To sum up the Coincheck review, our research team is quite impressed by the features available in Cryptocurrency exchange for its users. 

Coincheck is a reliable Cryptocurrency exchange delivering useful services such as prepaid Visa cards that can be subsidized by Bitcoin.

The quality-standards that the exchange adheres to and the technology that the exchange is relying on have been appreciated globally and it is tremendously easy to navigate.

To ensure that international customers find better assurance when security is concerned, Coincheck has kept the verification process for global account holders slightly complex to avoid any unauthorized access to the accounts.

In addition, the supportive addition of fiat currencies to USD and JPY as the euro would upsurge global appeal.

As might be predictable of a Japanese technology-driven business, one of Coincheck’s core assets is the technology overdue its exchange.

Furthermore, there are numerous campaigns and rewards programs successively running to boost the exchange and account holders’ investments.

According to us, the exchange seems to be one of the reliable trading companies found in the Coincheck review.

Subscribe

We never spam, we hate it too.