Coincheck is a prominent centralized cryptocurrency exchange (CEX) with a significant user base, primarily in Japan but also serving a global community. It ranks highly in Asia for its liquidity, trading volume, and user traffic. Regulated by Japan's Financial Services Agency (FSA) and audited by the Japan Blockchain Association, Coincheck offers a secure and compliant trading environment.
The platform supports 17 major high-market-cap cryptocurrencies and facilitates trading with both Japanese Yen and US Dollar deposits. Users can fund their accounts via bank transfers or debit cards, and the exchange stores digital assets in cold wallets for enhanced security.
Beyond standard trading, Coincheck provides a diverse suite of services including over-the-counter (OTC) trading, Initial Exchange Offerings (IEOs), utility bill payments via Bitcoin (Coincheck Denki and Gas), a survey rewards program, lending services, an NFT marketplace, and a beta staking service. Catering to over 1.5 million users, it offers both web and mobile app trading terminals equipped with essential tools for asset trading.
Understanding Coincheck's Core Features
Founding Team and Background
Coincheck was established in April 2012 by two passionate cryptocurrency enthusiasts. Yusuke Otsuka, who holds a Master's degree in Quantum Mechanics from Waseda University, serves as the Chief Operating Officer. Prior to co-founding the exchange, he worked as a UX designer.
Koichiro Wada, the Chief Executive and Technology Officer, has been programming since he was eight years old and is a frequent hackathon award winner. An alumnus of the Tokyo Institute of Technology, Wada previously founded ResuPress and developed STORES.jp.
In a significant 2018 development, the online brokerage giant Monex Group, Inc. acquired Coincheck. This led to leadership changes, with Toshihiko Katsuya becoming the Representative Director and Oki Matsumoto joining the executive board.
Geographic Operation and Restrictions
The exchange is headquartered in Tokyo, Japan. It is important to note that the platform does not accept users from the United States.
Supported Cryptocurrencies and Trading Pairs
Coincheck offers trading for a variety of leading cryptocurrencies against the Japanese Yen (JPY). Its supported assets include:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Stellar (XLM)
- Enjin Coin (ENJ)
- The Sandbox (SAND)
- Polkadot (DOT)
- And several others
Fee Structure Explained
The exchange employs a maker-taker fee model, with rates varying by cryptocurrency. For instance, Bitcoin (BTC) trading carries a 0% fee for both makers and takers. Conversely, trading Ethereum Classic (ETC) incurs a 0.05% maker fee and a 0.10% taker fee.
Market fees generally range from 0.1% to 5%. Withdrawal fees are asset-specific; for example, withdrawing BTC costs 0.0005 BTC. Deposit fees depend on the chosen method and the amount of funds being transferred.
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Leverage and Margin Trading
Coincheck does not currently offer margin trading or leveraged products. Trading is conducted on a spot-only basis, meaning users can only trade the assets they fully own.
A Look at Coincheck's Trading Markets
Coincheck's liquidity is heavily concentrated in its Bitcoin/JPY trading pair, which typically dominates the platform's total trading volume. The following table provides a snapshot of the active markets, though data for depth and some volume percentages may not always be available for all pairs.
| # | Currency | Trading Pair | Price | +2% Depth | -2% Depth | Volume (24h) | % of Total | Updated |
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin | BTC/JPY | ¥767,546.73 | ¥12,344,632.75 | ¥4,327,603.41 | ¥368,888,251 | 84.69% | Recently |
| 2 | Ethereum | ETH/JPY | ¥17,565.80 | -- | -- | ¥23,474,741 | 5.39% | Recently |
| 3 | Lisk | LSK/JPY | ¥2.38 | -- | -- | ¥17,976,428 | 4.13% | Recently |
| 4 | Enjin Coin | ENJ/JPY | ¥0.6182 | -- | -- | ¥11,811,555 | 2.71% | Recently |
| 5 | XRP | XRP/JPY | ¥15.75 | -- | -- | ¥7,642,299 | 1.75% | Recently |
Table is a sample; actual data fluctuates based on market conditions.
Frequently Asked Questions
Is Coincheck a safe exchange to use?
Yes, Coincheck is considered a safe and compliant platform. It is registered in Japan and regulated by the country's Financial Services Agency (FSA), which imposes strict operational standards. Furthermore, the majority of user assets are stored in secure cold wallets, offline storage that is less vulnerable to online threats.
Which countries are restricted from using Coincheck?
The primary restriction for Coincheck users is based in the United States. US citizens and residents are not permitted to use the exchange's services. It is always advisable to check the latest terms of service on their official website for the most current list of supported jurisdictions.
What are the main ways to deposit funds?
Coincheck supports several convenient deposit methods. Users can transfer Japanese Yen (JPY) directly from their bank account. The platform also accepts deposits via debit card for a faster process. For cryptocurrency deposits, users can send supported digital assets from an external wallet to their Coincheck wallet address.
Does Coincheck have a native token?
No, Coincheck does not currently have its own native utility or exchange token. The platform focuses on providing trading services for other established cryptocurrencies and does not issue its own digital asset.
What kind of customer support does Coincheck offer?
Coincheck provides customer support primarily through email and an extensive online help center that contains articles and guides for common issues. Their support is available in Japanese, aligning with their primary user base. Response times can vary based on inquiry complexity.
How does Coincheck make money?
The exchange generates revenue primarily through its trading fees (maker and taker fees), withdrawal fees, and charges for various premium services like OTC trading and its lending program. These fees sustain platform development, security measures, and regulatory compliance.