![]() It might be a good idea to check out both exchanges to see the best prices. However, bitFlyer also charges a 0.15% trading fee for the Lightning Spot market. Both platforms charge a spread on spot trades. When it comes to fees, Coincheck and bitFlyer are pretty evenly matched. Let’s see how Coincheck rates against its top competitor in Japan: bitFlyer. How Does It Compare to Other Crypto Exchange Alternatives?Ĭoincheck is a popular exchange in Japan, but how does it compare to other options? Once you sign up, you have to complete the identity verification process by submitting the necessary documents and info, including a photo ID and a selfie.Ĭoincheck has an automated process for identity verification, but the platform also accepts postal mail if you can’t use the app. The platform will prompt you to enter your phone number when you register in order to enable two-factor authentication by SMS. You can register with an email address and password. Please remember that the Coincheck platform is mostly in Japanese, and you may have a hard time navigating the interface if you don’t have basic Japanese skills. Opening a Coincheck account is easy if you know Japanese or have a friend who can translate for you. How Easy Is It to Open a Coincheck Account?Ĭoincheck is available to all japan residents over the age of 18 and under the age of 75. The exchange has suspended all credit card purchases indefinitely. Customers can deposit fiat currency to the platform via bank transfers or convenience store deposits. ![]() Fiat Currency Support on CoincheckĬoincheck only supports the Japanese Yen (JPY). While Japanese residents may find the service valuable, it’s best to think carefully before signing up for the service since the price of Bitcoin can be very volatile.Ĭoincheck allows customers to participate in utility token sales for new cryptocurrency projects through the Coincheck IEO program. Users can save 1.7% on their electricity bill if they sign up for the service, and the savings are collected in the Coincheck wallet. Margin trading isn’t allowed on the platform since 2020, and the staking service is still in beta testing.Ĭoincheck does have an interesting Payment Program that allows customers to pay their electricity and gas bills with Bitcoin. There is also an OTC desk and a lending service on the platform. Coincheck Review: Main FeaturesĬoincheck offers a spot market with high liquidity and Tradingview-powered charts, but it doesn’t have a lot of other features. Crypto Coins Available on CoincheckĬoincheck offers around 17 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).Īs you can guess, the platform only offers major-cap cryptocurrencies, so it’s not a good place for altcoin traders or those who want to expand their portfolios by purchasing lesser-known coins. You can check out withdrawal fees for all supported coins on the Coincheck website. For example, Bitcoin withdrawals cost 0.0005 BTC, and Ethereum withdrawals cost 0.005 ETH. Virtual currency deposits are free, but withdrawals can be expensive. The trading platform doesn’t charge a fee for bank transfers, but customers still have to pay associated fees to their banks for the service.Ĭonvenience store payments and quick deposits cost between 770 JP and 1,018 JPY, depending on the amount you deposit. As such, it isn’t the most profitable platform to buy and trade crypto assets. The spreads vary depending on the market conditions but can be anywhere between 0.1% and 5%. ![]() The exchange platform is only available to residents of JapanĬoincheck crypto exchange advertises zero trading fees, but that’s not exactly the case.Ĭoincheck doesn’t have a regular fee schedule or maker/taker fees like most other cryptocurrency exchanges, but the platform charges a spread for each transaction.The only fiat currency on the platform is the Japanese Yen.Educational resources are available on the platform.Coincheck Payment Program allows you to pay your bills with BTC.How Does It Compare to Other Crypto Exchange Alternatives?.How Easy Is It to Open a Coincheck Account?.
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