Coincheck Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Convenient mobile application, a lot of cryptocurrencies, only Japanese yen among fiats, investments (lending)
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Convenient mobile application, a lot of cryptocurrencies, only Japanese yen among fiats, investments (lending)
Our Evaluation of Coincheck
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Coincheck is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.65 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Coincheck clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Coincheck cryptocurrency exchange provides a comfortable trading terminal and all the main tools for trading cryptocurrencies in the global market. It is possible to exchange cryptocurrencies for the Japanese yen, and there is a blockchain investment system. Comprehensive verification is required (as one of the factors to ensure overall data security) to exchange and trade. There are many training materials on the platform.
Brief Look at Coincheck
Coincheck is a platform for exchanging and trading cryptocurrency that allows getting passive income through crypto-crediting of project partners. Bitcoin, Litecoin, Ethereum, BitcoinCash and other cryptocurrencies are traded on Coincheck. The Japanese yen is represented here as a fiat currency. The company has its proprietary trading terminal which is called Coincheck Trade View, represented by a web version and a mobile application. Data and funds protection is ensured by two-factor authentication and an original encryption system. Cryptocurrencies are stored using the cold method. There is the option to pay utility bills with cryptocurrency from a free account provided by the platform for traders from Japan. Training programs and active communities are offered for novice traders.
- convenient trading terminal (web version and application);
- all the most popular cryptocurrencies;
- exchanger, cryptocurrency and OTC trading;
- profitable cryptocurrency lending program;
- high level of platform security;
- no trading commission;
- a large amount of training and explanatory materials.
- only Japanese yen among the fiats;
- communication with the technical support service exclusively through the ticket system.
TU Expert Advice
Financial expert and analyst at Traders Union
The company was founded in Tokyo in 2012, and it is among the longest-standing cryptocurrency exchanges in the region. It hosts the financial legislation of Japan, is licensed, and works transparently. Evaluation and comparison of dynamic characteristics have proved that the Coincheck cryptocurrency exchange is successfully developing, and trading volumes are constantly increasing. Also, the number of clients of the exchange is growing.
The trading commission's free policy is among the advantages. Commissions for deposits and withdrawals depend on the asset. There are extra fees on the site, which depend on market activity. It is recommended to study them in the corresponding section of the official website.
The trading terminal of the site is standard and provides functionality for solutions such as Trade View. Traders like the convenience and technical stability of trading here. There is a comprehensive community. The exchange has a blog and forum with online chats. There is a large number of explanatory materials and guides on cryptocurrency trading that are useful to novice traders.
Some unique solutions are available for residents of Japan (Coincheck Electric, Coincheck Gas, Coincheck Survey). There is a profitable system for lending in cryptocurrency. No technical problems were noticed during the testing of the site. No fraud or unresolved disputes were revealed.
Coincheck Summary
| 💻 Trading platform: | Proprietary Coincheck Trade View platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, JPY |
| 💵 Replenishment / Withdrawal: | Bank cards, e-wallets, terminals |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, JPY |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | n/a |
| ⭐ Trading features: | Convenient mobile application, a lot of cryptocurrencies, only Japanese yen among fiats, investments (lending) |
| 🎁 Contests and bonuses: | No |
There is no minimum deposit requirement. Exchange and trading are carried out on individual terms. There is no leverage on the site, and there are no stop loss and take profit functions.
Scalping is available and there are graphs for 1, 5, and 15 minutes. There is a standard list of several dozen indicators, the imposition of patterns on charts, and the use of templates.
Contact with technical support of the company is carried out only through tickets in the support section. The cryptocurrency exchange doesn’t have a call center or other communication channels. The address for Japan residents is: 3-6 Maruyama-cho, Shibuya-ku, Tokyo 150-0044 E, Space Tower 12F.
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Commissions & Fees
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BTC – 0.001 BTC;
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ETH – 0.01 ETH;
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ETC – 0.01 ETC;
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LSK – 0.1 LSK;
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FCT – 0.1 FCT;
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XRP – 0.15 XRP;
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XEM – 0.5 XEM;
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LTC – 0.001 LTC.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 1% per application | Available (depends on the asset) |
There is no trading commission and this is a distinctive feature of the Coincheck cryptocurrency exchange. The majority of the world's cryptocurrency exchanges charge commissions for trades, as well as commissions for other transactions, including withdrawal fees. Review the data for several websites for comparison in the table below:
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Coincheck cryptocurrency exchange offers an investment program implemented in the full-fledged lending platform format. Just pass the registration and verification process, follow the corresponding section of the personal account, and provide the partners of the cryptocurrency exchange with the funds you wish to loan.
The uniqueness of the investment program is that you don’t need to study the partners of the site and their needs. Just choose the cryptocurrency, the size of the loan, and the period for which you are ready to provide it. After passing the inspection, the application is sent to the market. The application is approved if there is an actual need for your assets. The application may not be approved if at the moment there is no need for this cryptocurrency for the period specified.
The possibility to moderate is another advantage of the program. You can enter the cryptocurrency type, the amount of the loan, and the period from 14 to 365 days in the corresponding section of the site, in a special field. The program will automatically calculate your profit for the terms specified. The interest rate varies depending on the terms of the loan and the current market state. The maximum interest rate at the time of the current analysis of the exchange is 5%.
Example. You are lending Bitcoin at 3.0% per annum for 90 days. 10 BTC × 3.0% / 365 × 90 days = 0.0739726 BTC. That is what will be paid to you as a reward for using your funds. Please note that you cannot use the funds you loaned for the duration of the loan.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Coincheck’s affiliate programs
Coincheck cryptocurrency exchange doesn’t offer an affiliate (referral) program. This means that you cannot earn money by inviting other users to the site. Earning money on the exchange is available only by purchasing and selling cryptocurrency, and by investing (lending).
User Satisfaction