Summary
Coincheck is the crypto exchange and wallet supporting 17 cryptocurrencies for trade. Coincheck offers s user-friendly interface to its users and supports block trades available for large transactions at favourable rates. The platform provides its users with OTC trading and 5x leveraged trading
-
Reputation
-
Customer Support
-
Fees
-
App Design
-
Ease of Use
Coincheck is the cryptocurrency exchange founded in 2012 in Japan, ranking as #16 with an average 24-hour trading volume of £57544154 GBP. The Coincheck platform supports 17 cryptocurrencies and seven pairs ready to trade in JYP.
Coincheck is a popular cryptocurrency exchange and crypto wallet at the same time. Coincheck offers s user-friendly interface to its users and supports block trades available for large transactions at favorable rates. The platform doesn’t delay transferring and depositing of funds. On the Coincheck platform, 5x leveraged trading is available for users. With Coincheck Lending, traders can lend their crypto assets and earn huge interest on them. For the long-term investor, such investing is a good idea for making passive income. Users can pay their electric and gas bills in bitcoin by utilizing Coincheck Denki and Coincheck Gas.
The Coincheck also supports OTC trading allowing users’ to trade large sums of money on the platform. Before using OTC trading, you must have a million-dollar trading volume. To use this service, you usually need to be making millions of dollars in transactions. The OTC desk is open 24 hours a day. The mobile application is also available named Coincheck Bitcoin Wallet’ supported by both android and iOS.
Coincheck also offers the NFT market on its platform. NFTs are digital artwork created by brands, individuals, companies, or anyone. The NFT market at Coincheck is at its initial phases, and the platform doesn’t provide a wide range of NFTs for trading purposes.
There is no trading fee on Coincheck, and the platform doesn’t cost any maker/taker fee. Several platforms charge low fees, but Coincheck is the rare one that costs no trading fee. The only fiat currency supported for withdrawal at Coincheck is JYP, and for cryptocurrencies, the withdrawal fee varies with cryptocurrency. The deposit fee varies depending on the type of deposit and the amount of money being deposited. The users can deposit through credit cards, debit cards, and bank transfers.
The greatest thing about Coincheck is that all of their user funds are kept in offline cold wallets. This significantly reduces the risk of them being stolen. The platform has taken several steps to assure complete security and safety when it comes to account security features. In order to proceed, users must first validate their email address and phone number. They will then be required to present personal documentation to prove their identification. Users cannot conduct any financial activity on the platform without completing the entire verification process.
Pros
- Credit card payments accepted
- Wallet apps provided
- Fee-free trading period
- Good reputation
- Strong range of major cryptocurrencies supported
- Easy to use interface
Cons
- No telephone or chat-based customer support
- Verification process for international account holders complex
- Unregulated
- Cryptocurrency trading only
- No MetaTrader or cTrader trading platforms
Coincheck Details
Devices Compatability:
- Desktop
- Android
- Tablet
- iOS
- Smart TV
Currencies: BTC, BCH, ETH, ETC, LTC, JYP and USD
Deposit Methods: Debit cards, Credit cards, bank transfer
Withdrawal Methods: bank transfers, credit/debit cards
Withdrawal Limits: $300/daily
Restricted Countries: No restriction
Final Thoughts
Coincheck is the crypto exchange and wallet supporting 17 cryptocurrencies for trade. Coincheck offers s user-friendly interface to its users and supports block trades available for large transactions at favorable rates. The platform provides its users with OTC trading and 5x leveraged trading. NFT marketplace is also available on the platform, but the NFT collection is limited. The most promising feature of Coincheck is it doesn’t cost a trading fee. A significant portion of the platform’s assets is stored in cold storage to avoid theft.