Coincheck is another cryptocurrency Exchange and is leading in the Asia. It accepts Bitcoin, Ethereum, Dao and Lisk exchange. They claim to have the easiest way in buying, selling and trading these virtual currencies. It has an easy and intuitive user interface which also provides support to foreign users. They launched in November 2014 allowing everyday consumers to trade in smaller amounts. They accept JPY, USD and BTC deposits.

Coincheck is a decent exchange which is said to be Japan’s answer and replacement to Mt Gox. They are getting high volume in Japan as Japanese people are starting to warmly embrace cryptocurrencies. They promised to have a fast BTC/JPY transactions and for publicity, they waived fees for 2 months since they launched. Coincheck is funded by major Japanese social gaming company DeNA’s Incubate Fund.

Deposits and Withdrawals

They offer speedy bank transfers which can be done in just 10-15 minutes. They also have a fast and easy sign-up and verification process which is perfect for new customers who wants to buy Bitcoin immediately. Consumers can also link their Japanese bank accounts for much easier deposits and withdrawals. Coincheck does not require identification for deposits and withdrawals under 10,000 JPY or 98.68 USD. They charge miniscule fees with an extra surcharge in fast withdrawals and trading fee that promotes liquidity to the orderbook with maker taker model. Coincheck exchange has features that integrates with its other services such as a payment processor and a Bitcoin wallet.

Trading Features

With its simple user interface and reduced minimum trades at 500 JPY or 4.93 USD, the Asian cryptocurrency exchange is not focused in serving professional or heavy bitcoin traders but rather they are focused to provide an easy jump-start new Japanese Bitcoin users.

Advanced Bitcoin traders will enjoy some of the exchange’s features. These includes the margin trading, stop-loss trading and the choice to utilize leverage on their Bitcoin’s future price, which are also common to other Bitcoin exchanges.

Coincheck also provides an Android app for users to easily trade using their mobile devices.

The following are Coincheck’s supported trading pairs:

Recent Updates

Recently this year, Coincheck’s operator ResuPress Inc. partners with Mitsuwa Industry Co. Ltd. to allow Japanese consumers to pay Bitcoin for electricity bills. The Coincheck Denki project will officially launch in November 2016. Coincheck Denki will be offering two plans for customers. The first plan is the Light Users plan where consumers who are not yet familiar with Bitcoin will pay bills in the traditional method but will earn small amounts of BTC everytime they pay. The other plan is the Heavy Users plan where advance Bitcoin users can save 4%~6% everytime they pay their bills with Bitcoin.

Overall, Coincheck can be considered as one of the major Bitcoin exchanges in Asia which greatly contributes to the worldwide adoption of the cryptocurrency. Its goal of being the easiest cryptocurrency exchange will drive more Bitcoin users as Japan is speeding up to a much more higher level of Bitcoin adoption.

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