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.
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Coincheck is a Japanese cryptocurrency exchange. It is allegedly US-investor friendly, but all US-investors should always do their own independent assessment of any problems arising from their residency or citizenship.
This trading platform also states on its website that they have the highest Bitcoin trade volume in Japan (referring to credible sources).
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. Great offer! These fees are far below the industry average which is around 0.25% and thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market and maybe even makes Coincheck the best cryptocurrency exchange site for you.
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.
Coincheck 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.
At Coincheck, 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
Coincheck’s security score 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.
Low trading fees are indeed very important for any prospective cryptocurrency 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):