Coincheck

Coincheck is one of Japan's leading cryptocurrency exchanges. Acquired by the Monex Group following a hack in 2018, it has since rebuilt its reputation with robust security and compliance measures. It offers a wide variety of tokens popular in the Japanese market.

The platform features "Coincheck NFT" (a marketplace) and "Coincheck Denki" (pay electricity bills with Bitcoin). It is a legitimate, FSA-registered exchange in Japan, serving as a primary gateway for Japanese retail investors.

Frequently Asked Questions

1. Is Coincheck safe now?

Since being acquired by Monex Group in 2018, Coincheck has completely overhauled its security infrastructure. They now comply with strict Japanese FSA regulations, use cold storage, and have robust internal controls, making them safe for users.

2. Can I use it outside Japan?

Coincheck is primarily designed for Japanese residents. You need a Japanese phone number and proof of residence to complete the identity verification required to trade and withdraw JPY.

3. What is Coincheck NFT?

Coincheck NFT is a beta marketplace integrated into the exchange. It allows users to trade NFTs from popular games like The Sandbox and CryptoSpells using the crypto balance in their Coincheck account, with no gas fees for listing.

4. specific fees?

Coincheck charges 0% fees for BTC spot trading on their exchange order book, which is a major benefit. However, buying altcoins via their direct "Sales" interface incurs a spread fee (price markup) which can be higher.

5. How do I deposit?

You can deposit Japanese Yen (JPY) via bank transfer or convenience store payment (Konbini). Bank transfers are the standard method and are typically processed quickly during banking hours.