Coincheck is a prominent cryptocurrency exchange and digital wallet provider headquartered in Tokyo, Japan. It ranks among the top 10 global platforms for trading digital assets and holds official licensing to operate a cryptocurrency exchange in Japan. The exchange is also a member of the Japan Blockchain Association, the Japan Virtual Currency Business Operators Association, and the Fintech General Association. Over 2,200 merchants across Japan utilize Coincheck’s Bitcoin payment solutions. In April 2018, Monex Group acquired Coincheck for 3.6 billion yen.
Core Features of Coincheck Exchange
Coincheck offers a range of innovative services tailored to both novice and experienced cryptocurrency users:
- Coincheck Deki: A unique service that allows users to earn Bitcoin rewards by paying their electricity bills.
- Coincheck Gas: Similar to Deki, this feature enables Bitcoin earnings through gas bill payments.
- Automated Regular Purchases: Users can set up monthly automatic purchases of cryptocurrencies, reducing the impact of market timing on investments.
- Coincheck Lending: Offers up to 5.0% annualized interest when users lend their cryptocurrencies to the platform.
- Credit Card Payments: Supports cryptocurrency purchases via credit card for added convenience.
Founders and Background
Coincheck, Inc., originally named ResuPress, Inc., was established in August 2012 by Koichiro Wada and Yusuke Otsuka, both former employees of Goldman Sachs Securities. The company began offering cryptocurrency trading services under the "Coincheck" brand in August 2014 and officially changed its name to Coincheck, Inc. in March 2017. Today, Wada serves as the Chief Executive Officer, while Otsuka holds the position of Chief Operating Officer.
Security Measures and Trustworthiness
In January 2018, Coincheck experienced a significant security breach where approximately 500 million NEM tokens (valued at $530 million at the time) were stolen. The funds were transferred through 19 accounts, one of which was later found unrelated to the hackers. Initially, concerns arose about compensating affected users, but Coincheck ultimately used its own funds to reimburse all 260,000 impacted users in Japanese yen.
To enhance security, Coincheck implements several protective measures:
- Cold Wallet Storage: The majority of customer assets are held offline in cold wallets, minimizing exposure to online threats.
- System Security Partnerships: The exchange collaborates with multiple cybersecurity firms to maintain system integrity and operational efficiency.
- Two-Factor Authentication (2FA): Users are required to enable 2FA during login, adding an extra layer of protection against unauthorized access.
While these measures improve safety, no exchange can guarantee complete security. Users are advised to consider transferring funds to reputable personal wallets for added protection, though all methods carry inherent risks.
Fee Structure
Coincheck provides multiple funding and withdrawal options, each with associated costs:
- Deposits: Users can fund accounts via bank transfer, debit card, or credit card. International bank transfers outside Japan incur a fixed fee of $25 or 2,500 yen. Domestic yen bank transfers are free.
- Withdrawals: Transferring funds to a bank account via fiat or cryptocurrency wallets costs 400 yen for yen withdrawals and 2,500 yen for USD withdrawals.
- Trading Fees: Coincheck charges no transaction fees for trades.
- For detailed and updated fee information, 👉 explore the official fee schedule.
Customer Support Channels
Coincheck offers robust customer assistance through the following avenues:
- Online Help Center: Users can access comprehensive support resources via the exchange’s dedicated help portal.
- Social Media and Blog: The platform maintains active profiles on Twitter, Facebook, and Line, along with an official blog for updates and community engagement.
- Office Address: Physical inquiries can be directed to their Tokyo office at E. Space Tower 12F, 3-6 Maruyama-cho, Shibuya-ku.
How to Buy Bitcoin on Coincheck
Purchasing Bitcoin on Coincheck is straightforward:
- Bank Transfer Method: Deposit Japanese yen into one of Coincheck’s designated bank accounts to buy Bitcoin seamlessly.
- Card Payments: Use credit or debit cards to purchase Bitcoin directly; details are available on the official website.
- Bitcoin Transfers: Send Bitcoin to other wallets using Coincheck’s interface.
For visual guidance and step-by-step instructions, 👉 discover practical buying methods.
Frequently Asked Questions
Is Coincheck regulated?
Yes, Coincheck is fully licensed and regulated by Japanese authorities, adhering to strict financial standards and industry best practices.
What cryptocurrencies does Coincheck support?
While initially focused on Bitcoin, Coincheck has expanded its offerings to include multiple cryptocurrencies. Check their official platform for the latest supported assets.
How long do withdrawals take?
Withdrawal times vary by method. Bank transfers typically process within 1–3 business days, while cryptocurrency withdrawals may be faster.
Can international users access Coincheck?
Coincheck primarily serves residents of Japan. International users should verify eligibility based on their jurisdiction and local regulations.
Does Coincheck offer mobile app functionality?
Yes, Coincheck provides user-friendly mobile apps for both Android and iOS devices, enabling trading and account management on the go.
What happens if I lose access to my account?
Contact customer support immediately for account recovery assistance. Enabling 2FA and maintaining secure login details can prevent unauthorized access.