Coincheck Exchange Review

Coincheck is a crypto exchange and bitcoin wallet provider that was founded in August 2014. A Coincheck exchange review reveals that they this digital asset exchange is a member of the Japan Blockchain Association, or in short, JBA – an industry group with two divisions, one dealing with blockchain technologies and the other with virtual currency (or digital assets).

A Coincheck exchange review reveals that this cryptocurrency exchange captures the bulk of the Bitcoin spot trading volume generated in Japan. They also seem to offer margin trading, price alerts, charts and more. They also seem to offer a limited number of cryptocurrency pairs. The main currencies offered seem to be Bitcoin (BTC), Ethereum (ETH), Lisk (LSK), XRP (XRP) and Factom (FCT).

Coincheck seems to offer a crypto lending platform as well. This lending platform allows users to lend their cryptocurrencies and earn a maximum of 5% interest. A Coincheck exchange review reveals that both Bitcoin and altcoins can be purchased via this crypto exchange. They also offer a Coincheck Bitcoin Wallet app that can be downloaded at the App Store. It is only available to mobile devices that make use of the iOS mobile operating system. This limits access to users that have mobile devices that make use of Android.

It seems that they also offer a seamless payments solution to businesses that wish to receive Bitcoin payments within less than 10 minutes. This payments solution by Coincheck seems to have no initial cost, only a basic fee in the form of a 1% transaction fee.

A CoinCheck exchange review reveals that the company offers multilingual support currently available in English, Chinese, Japanese and Indonesian with future expansion to other major languages. Nevertheless, citizens of the USA are not allowed to trade in this exchange.

Regarding fees, Coincheck does not charge any fees for market takers. This strategy was started by its owners as a way to increase liquidity. As a result of a successful strategy, Coincheck has decided to make it a policy. In regards to Bitcoin withdrawals, Coincheck charges a fee of 0.001 BTC. Compared to the market, this price could be seen as fair. Finally, the company has demonstrated to be friendly for first-time investors not only because it accepts fiat currencies and credit cards but also empowers retail stores to accept cryptocurrencies as a way of payment by providing them with a payment system that will convert the digital asset to fiat currency automatically for them.

In terms of the ownership and reputation of the company, the exchange has suffered reputation damage in terms of security due to the system hack in January 2018. Hackers have transferred $500 million worth of NEM out of digital wallets. Still, many sources claim that Coincheck is a safe choice because the requirements for a cryptocurrency exchanges license in Jpan are strict.