Getting into various crypto communities means looking for a reliable exchange site, allowing you to securely trade cryptocurrencies like Bitcoin and Ethereum. However, with lots of exchange services emerging in the market, choosing a platform can pose a serious challenge when you’re a beginner. What features should you look for? How do you assess a platform’s reliability, security and trading fees?
Fortunately, Coincheck is one of your options. Considered to be one of the biggest exchange platforms in Asia with high trading volumes, it offers top-notch features and low-cost trading fees for investors. If you’re curious about Coincheck and what’s on the table, continue reading below!
A look into Coincheck exchange: What you need to know
A brief history
Founded in 2012 by Koichiro Wada and Yusuke Otsuka, Coincheck is a digital wallet company and a cryptocurrency exchange headquartered in Tokyo, Japan. In the platform, you can trade Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH) and other cryptocurrencies as well as Japanese fiat currencies. Currently, Coincheck is audited by the Japan Blockchain Association. The platform is also known for offering a payment system for merchants that instantly converts crypto payments into yen.
Although Coincheck was established in Japan, it is available in other countries for bitcoin storage and trading. They have collaborated with SEKAI to support Taiwanese and Chinese investors to buy Japanese properties using their digital assets like Bitcoin.
However, in January 2018, Coincheck became controversial and made headlines when it was hacked and approximately 500,000,000 NEM tokens were stolen. Since the platform was short-staffed and suffered technical difficulties with their site during that time, it resulted in poor security measures. Coincheck managed to compensate their clients that suffered through losses.
This did not stop the platform from improving its services and security to earn back its clients’ trust. In fact, the company has experienced one of the highest Bitcoin trading volumes in Japan. As of writing, their volume over the last 24 hours has already reached approximately US$102,730,000.
Coincheck exchange features you should know
Interested to know more about Coincheck and why it remains to be one of the leading exchange platforms in the market? Check out its best features below:
Some people refuse to participate in crypto trading since they are intimidated by the complexity of crypto exchange services. However, one of the best things about Coincheck is its user-friendly platform, displaying a well-designed interface suitable for novice investors. So, even if you have little to no experience with asset transfers or mobile payments, you can get started with ease.
Moreover, you can download the platform through iOS and Android app stores with a push notifications feature. When there are large fluctuations happening in the crypto sphere, Coincheck will automatically alert you so you find the right time to trade.
Supports various cryptocurrencies
Aside from Bitcoin, Ethereum and Litecoin, Coincheck also supports other cryptocurrencies in case you want to diversify your portfolio. You can trade the following digital assets on the platform:
- Ethereum Classic
Strict security measures
If you’re looking for an exchange platform that offers top-notch security measures, Coincheck exchange has you covered. The platform offers its investors cold wallets, allowing you to completely secure your assets from malicious parties since they are not connected to the Internet.
In addition, depositing over $500 within a day will require you to prove your identity by providing personal identification documents. This includes passports, driver’s licenses and other government-issued IDs.
To further protect your account from cybercriminals, Coincheck ensures the highest level of security through two-factor authentication. Meaning to say, before an outside party gets access to your account, they need to provide two authentication proofs to verify themselves.
Different deposit and withdrawal options
Coincheck exchange users have the option to fund their accounts using bank transfers and debit cards. You can also transfer crypto into your account from an external wallet or directly buy Bitcoin using your credit card. This is especially helpful if you’re a new crypto investor looking for a straightforward system to start trading.
What’s more, the platform is currently offering commission-free trading. Meaning, they don’t charge fees when buying and selling cryptocurrencies on their site.
24/7 customer support
Coincheck offers 24/7 customer support through the Help Section found on the most bottom part of their website. If you encounter any issues with your deposits or transactions, you can take advantage of their email-based ticketing system so the team can address your concern.
Getting started with Coincheck exchange: How to sign up
After learning about the features and benefits of using Coincheck, it’s time to own your very first cryptocurrency with the platform by creating an account! To get started, make sure to follow the steps indicated below:
- Step 1: Create an account
To register, visit coincheck.com and click the Register button found on the upper right part of the main page. Input your email address and password. Once done, click the Create Account button.
Make sure that you also register your phone number for SMS authentication.
- Step 2: Submit identity verification documents
Before you can start trading cryptocurrencies on the platform, you should submit identity verification documents first. You can also use mobile application so you can take advantage of the Easy Verification feature, allowing you to take pictures of your IDs for easy verification.
Coincheck: One of the leading exchange platforms in Asia
Ever since it was established and launched, Coincheck exchange has proven to be one of the leading exchange services in Asia, with its convenient platform and top-notch security. It’s easy to navigate and supports different deposit methods catering to novice and experienced investors alike.
So, even if you’re new to the crypto environment, Coincheck has the tools and user-friendly system that lets you easily buy and sell crypto in the global market.