A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Coincheck consists of four parts: general information, fees, deposit methods and security.
Coincheck is a Japanese cryptocurrency exchange, which allegedly has the highest Bitcoin trading volume in Japan (referring to credible sources).
On 4 July 2019, Coincheck had a 24 hour trading volume of USD 62.8 million. This is a perfectly decent trading volume. Sure, it’s far from the absolute giants in the industry who rarely have a 24 hour trading volume below USD 1 billion, but it is still quite good. On the date of last updating this review (21 March 2020, right in the middle of the crisis with COVID-19), Coincheck’s trading volume was USD 56.5 million which placed it on place no. 90 on the list of the exchanges in the world with the highest 24 hour trading volumes.
Coincheck is also available through mobile use. You can easily download their application on Appstore or Google Play.
The exchange supports residents from any different jurisdictions as traders on its platform. USA, however, is not one of those jurisdictions. Accordingly, Coincheck doesn’t allow US-investors. If you’re a US-investor desperately looking for somewhere to trade, don’t despair! Use our Exchange Finder to find out which alternatives you have.
Coincheck Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Coincheck:
Coincheck Trading fees
The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in.
And Coincheck has 0 (zero) fees for makers, but also 0 (zero) fees for takers. This is truly an amazing offer! It started off as a campaign but is now actually their permanent trading fees. These trading fees are naturally far below the industry average which is around 0.25% and constitutes a strong competitive advantage.
Coincheck Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
This exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is in line with or slightly below the industry average, so consider this as fair.
Here, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors. The deposit fees and withdrawal fees can be found here: https://coincheck.com/info/fee
The security score of this trading platform is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
The exchange does however highlight the following three security features on its website:
Low trading fees are indeed very important for any investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):