Coincheck Review – Is Coincheck Scam or a Legit Crypto Exchange?

Coincheck Review

Coincheck logo

Coincheck is a leading Japanese exchange renowned for its wide range of available cryptocurrencies. It has seen exponential growth in the last couple of years and it’s per day trading volume has exceeded 250 million dollars. In this Coincheck review, I will discuss some of its most impressive features so that you get an overall idea of the platform.

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I want to clear one thing before starting the review that it is a Japanese trading platform but it doesn’t mean that traders from other countries are not allowed. Coincheck welcomes traders from all over the world except US citizens due to the limitations set by their government.

Coincheck website

The Trading View Of The Platform

If you have a look at various trading platforms, you will notice that almost every platform has a different trading view. These trading views have a different outlook and other advantages so no trading view can be labeled as the best one. So a trader needs to make sure that he chooses a trading view which he likes the most.

All trading views are different from each other but there lie some similarities as well for example order histories, price details, and available cryptocurrency lists. The trading view of Coincheck displays graphical information. Transaction history, open orders, and settlements are displayed on the first screen.

Fee Structure At The Coincheck Exchange

Not just the trading views but the fee structures also vary from exchange to exchange. Many trading platforms offer good services and features but they charge high fees. When it comes to Coincheck, you will see that it has zero trading fees. This is a marvelous step by this exchange because typically 0.25% is being charged by other exchanges.

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Some other exchanges also offer low trading fees but they make up for it when it comes to withdrawals. They show some leniency on one side and then empty the pockets of traders in the name of withdrawal fees. But this is certainly not the case with Coincheck.

The withdrawal fee for every digital currency is different at this exchange. Coincheck charges 0.0005, 0.005, 0.15, and 72.0 respectively for Bitcoin, Ethereum, Ripple, and Plateau. These fees are very competitive if you compare them with other exchanges.

Security Features

Coincheck security

Security becomes an essential need when it involves money. As financial institutions, exchanges are also a place that is a dream target of cybercriminals. But due to the effective security measures taken by Coincheck, their dream has never come true on this exchange. Coincheck has made this possible with the help of its state-of-the-art security system.

There are two features in this regard that I feel compulsory to mention here. The first one is cold wallets. These wallets are offline and keep the digital currency safe from cyber threats. The second feature that is very important in this context is Two-Factor authentication. While this feature remains enabled, data remains safe from external malicious threats.

Coincheck Lending Feature

If you are fond of trading and want to adopt it as a long-term career then Coincheck is a feasible option for you. It has a lending service that makes beginners capable to trade the assets they dream of. The most impressive thing is that it not only gives loans but also charges the lowest interest rate. The maximum interest rate charged by this exchange is 5 percent only. On top of this, you can not only lend money but digital currencies as well. This is a feature that makes thing platform stand out among other exchanges.

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Bottom Line

In nutshell, Coincheck is a trading platform that fulfills every need of its traders at a reasonable price. It is one of the very few exchanges where traders don’t have to worry about their security that is why I suggest you register with Coincheck to make your trading career flourish.

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