Online Trading Starts Here
EN /brokers/crypto/view/coincheck/is-coincheck-good-for-beginners/
AR Arabic AZ Azerbaijan CS Czech DA Danish DE Deutsche EN English ES Spanish FI Finnish FR French HE Hebrew HI Hindi IND Indonesian IT Italian KK Kazakh MS Melayu NB Norwegian NL Dutch PL Polish PT Portuguese RO Romanian ... Русский SV Swedish TH Thai TR Turkish UA Ukrainian UZ Uzbek VI Vietnamese ZH Chinese
Menu
  1. Traders Union
  2. /
  3. Best Crypto Exchanges
  4. /
  5. Coincheck Review
  6. /
  7. Is Coincheck a Good Crypto Exchange for Beginners?

Is Coincheck a Good Crypto Exchange for Beginners?

Updated: October 30, 2023
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Olga Shendetskaya
Editor
Full Coincheck
overview
Share this:

Good Forex Broker for Beginners

Table of Contents

  • Summary
  • Pros and cons
  • What is a Good Crypto Exchange
  • Trading Conditions
  • Commissions and Fees
  • Investment programs
  • Conclusion
  • FAQs

It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Coincheck is a good crypto exchange to start trading with. In this article you will learn whether Coincheck is good for beginners, what its pros and cons are and what a novice trader needs to know.

Short summary about the broker 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.

💰 Account currency: Cryptocurrencies, JPY
🚀 Minimum deposit: No
⚖️ Leverage: No
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, JPY
💹 Margin Call / Stop Out: No

Coincheck Pros and Cons

👍 Advantages of trading with Coincheck:

•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.

👎 Disadvantages of Coincheck:

•only Japanese yen among the fiats;

•communication with the technical support service exclusively through the ticket system.

What is a Good Crypto Exchange for Beginners?

In order to choose the right broker for a beginner, you need to consider several aspects.

Here are the main ones:

  • Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.

  • Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.

  • Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.

  • Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.

  • Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.

  • Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.

In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.

Trading Conditions for Coincheck Users

Before you start working with an exchange, it is important that you evaluate its trading conditions. Coincheck offers traders the following conditions.

💻 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
💱 Spread: 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

Commissions and Fees

The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Coincheck commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.

Information

The Coincheck crypto exchange does not charge commission fees for trading operations. The maker and taker commission is always 0.000%. There are also no fees for a deposit in cryptocurrency. There is no commission for a deposit in fiats (Japanese yen) if the deposit is made by bank transfer. If you use terminals and other replenishment methods besides bank transfers, the commission is calculated according to the terms specified in the corresponding section of the site. The fees for withdrawing cryptocurrencies are fixed, depending on the asset. Please see the examples below:

  • BTC – 0.001 BTC;

  • ETH – 0.01 ETH;

  • ETC – 0.01 ETC;

  • LSK – 0.1 LSK;

  • FCT – 0.1 FCT;

  • XRP – 0.15 XRP;

  • XEM – 0.5 XEM;

  • LTC – 0.001 LTC.

Account type Spread (minimum value) Withdrawal commission
Standard 1% per application Available (depends on the asset)

Investment programs of Coincheck

It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Coincheck offers the following passive income options.

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.

Important!

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 thedeal 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).

Conclusion. Is Coincheck good for beginners?

The Coincheck cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Coincheck could be considered as a good cryptocurrency exchange for a start.

See related articles in our selection:

FAQ

What do I need to know about the fees charged by cryptocurrency exchanges?

The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.

How do I choose a reliable cryptocurrency exchange?

Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.

How many cryptocurrencies could a crypto exchange offer?

The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.

What are the risks of investing in cryptocurrencies?

Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

Read more
Olga Shendetskaya
Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Read more