Coincheck was launched in 2017. It is one of the most famous and largest cryptocurrency exchanges portals in Japan and Asia. You can use this service through the website or via the mobile app available for Android and iOS. Coincheck is operated by Keisuke Wada company which was founded in 2012. It is good to have info about the operating company for traders to rest assured of the reputation of the platform’s background. Coincheck is regulated by the Japanese Blockchain Association. At the current time, the company has a capital reserve of 92 million yen.
This platform provides many distinct services to its users, where users can buy/sell digital currencies from each other. Also, it provides another service; lending, in a very similar way to banks. You can loan out your cryptocurrencies with an interest of up to 5%. Moreover, this platform provides an excellent service for miners as it offers them the ability to pay electricity bills in cryptocurrency, yet this service is only available in Japan!
Coincheck also offers its users a prepaid card that you can use to convert digital currencies into fiat currencies directly through any ATM! Certainly, all of these innovative services are difficult to obtain from another platform.
Like Japanese companies that are always unique in the latest and most advanced technology, Coincheck has a wonderful design that is easy to use and flexible and allows beginners to discover how to exchange cryptocurrencies easily. This wallet supports a large number of cryptos such as:
- Ethereum Classic
However, the platform does not support the newly launched digital currencies, which usually gives speculators a greater opportunity to profit; because they are low in price and have a very high volatility level!
Like other cryptocurrency exchange portals, Coincheck offers two types of accounts. The first type will require you to deposit $ 500 or withdraw $ 300 to verify your email and mobile phone number through text messages. As for the second type, it will require the activation of your account by sending a photocopy of the identity documents, such as a passport or identity card, in addition to proof of the place of residence.
Moreover, Coincheck wallets offer users a high level of security thanks to two-factor authentication and cold storage. So, even if the platform is hacked, the hacker will not be able to access your account as the wallet becomes hot when you make a transaction!