Coincheck is one of Japan’s most popular cryptocurrency exchanges, known for its user-friendly mobile app—ranked No.1 in downloads among domestic crypto platforms from 2019 to 2024. Its intuitive interface makes it ideal for beginners looking to enter the world of digital assets without confusion.
However, there's growing discussion about whether Coincheck's fees are too high, especially when compared to other domestic exchanges. While it’s true that some of its charges are on the higher side, Coincheck also offers unique features and services that may outweigh the cost for many users.
In this comprehensive guide, we compare Coincheck’s fees across seven major Japanese exchanges and reveal practical strategies to reduce costs. Whether you're a beginner or an experienced investor, this analysis will help you decide if Coincheck is the right fit for your crypto journey.
Coincheck’s Fee Structure: What You Need to Know
Before diving into comparisons, let’s break down Coincheck’s core fees as of 2025:
Deposit Fees:
- Bank transfer: Free
- Convenience store deposit: ¥770 (under ¥300k), ¥1,018 (¥300k–¥500k)
- Quick deposit: ¥770–¥1,018 or 0.11% + ¥495 (for amounts over ¥500k)
- Withdrawal Fee: ¥407 per transaction
Crypto Transfer Fees:
- BTC: 0.0005–0.016 BTC
- ETH: 0.005–0.16 ETH
- XRP: 0.15 XRP
Trading Fees (Exchange Model):
- Maker: 0–0.05%
- Taker: 0–0.1%
- Itayose (batch auction): 0–0.05%
- Trading Fees (Broker Model): Free (but includes spread)
While trading fees are relatively standard, deposit, withdrawal, and transfer fees stand out as higher than average, particularly for frequent traders or those making small, regular transactions.
Comparing Coincheck with 7 Japanese Crypto Exchanges
To give you a clearer picture, we’ve evaluated Coincheck against six other leading Japanese exchanges: bitbank, bitFlyer, BITPOINT, CoinTrade, GMO Coin, SBI VC Trade, and BitTrade.
Deposit Fees: Convenience vs. Cost
| Exchange | Bank Transfer | Other Methods |
|---|---|---|
| Coincheck | Free | Up to ¥1,018 or percentage-based |
| bitbank | Free | Free |
| bitFlyer | Free (SBI Net Bank only), ¥330 otherwise | — |
| Others | Free | Free |
Coincheck offers more deposit methods—convenience store and quick deposits—which benefits users without online banking access. However, only bank transfers are free, so frequent depositors should stick to this method to avoid extra charges.
👉 Want faster, cheaper deposits? See how top platforms streamline fund transfers.
Withdrawal Fees: Average but Not the Best
| Exchange | Withdrawal Fee (JPY) |
|---|---|
| Coincheck | ¥407 flat |
| SBI VC Trade | Free |
| GMO Coin | Free (under ¥20M) |
| bitFlyer | ¥220–¥770 depending on amount and bank |
While Coincheck’s ¥407 fee is average, competitors like SBI VC Trade and GMO Coin offer free withdrawals, making them better for users who cash out regularly.
Crypto Transfer Fees: Room for Improvement
| Exchange | BTC | ETH | XRP |
|---|---|---|---|
| Coincheck | 0.0005–0.016 BTC | 0.005–0.16 ETH | 0.15 XRP |
| BITPOINT / GMO / SBI VC Trade | Free | Free | Free |
| bitbank / BitTrade | ~0.0005 BTC | ~0.005 ETH | ~0.1 XRP |
Coincheck’s variable transfer fees—especially during network congestion—can be costly. In contrast, several exchanges charge flat or even zero fees.
Trading Fees: Competitive for Takers
- Broker Model (Instant Buy/Sell): All major exchanges, including Coincheck, charge no direct fee, but apply a spread instead.
Exchange Model (Peer-to-Peer):
- Taker Fee: Coincheck charges up to 0.1%, slightly lower than most.
- Maker Rebate: Like others, major coins (BTC, ETH, XRP) have zero maker fees.
This makes Coincheck a solid choice for active traders who prioritize fast execution.
Spreads in Broker Mode: The Hidden Cost
Coincheck’s effective spread ranges from 0.1% to 5%, varying by asset and market conditions. Since spreads aren't transparently listed, users may unknowingly pay more during volatile periods.
Always compare buy/sell prices before confirming trades to estimate the real cost.
How to Reduce Fees on Coincheck: 5 Smart Tips
Even with higher base fees, you can optimize your usage:
✅ Use Bank Transfers Only
Avoid convenience store and quick deposits. Stick to free bank transfers to minimize costs.
✅ Trade During High-Liquidity Hours
Spreads narrow during peak trading times (weekday business hours). Avoid weekends and late nights.
✅ Batch Your Deposits and Withdrawals
Since fees are per transaction, consolidating reduces overall costs significantly.
✅ Use Low-Fee Cryptocurrencies for Transfers
For external transfers:
- XRP: ~¥47
- BTC: Up to ~¥6,153
- ETH: ~¥1,331
Choose XRP or XLM for low-cost international transfers.
✅ Prefer Exchange Model Over Broker Model
The broker model hides costs in spreads. Use the exchange model where possible—fees are clearer and often lower.
Why Choose Coincheck? Key Advantages
Despite higher fees, Coincheck excels in user experience and innovation.
📱 Beginner-Friendly Mobile App
Simple navigation allows instant buying/selling with minimal learning curve—ideal for newcomers.
🧩 Diverse Asset Selection (36+ Coins)
Includes rare tokens like FNCT and BRIL not widely available elsewhere.
🔄 Passive Income Services
- Coincheck Staking: Earn up to 2.7% APY on ETH
- Lending: Up to 5% annual return
- DCA Investing: Automated monthly purchases
These tools enable hands-off wealth building.
🎨 NFT Marketplace Integration
Coincheck NFT allows easy buying/selling without external wallets or gas fees—a rare convenience in Japan.
💡 Real-World Crypto Utility
Pay utility bills via:
- Coincheck Denki: Get up to 7% BTC cashback
- Coincheck Gas: 3% discount when paying with BTC
Turn everyday expenses into earning opportunities.
Limitations to Consider
⚠️ Service Fees Apply on Passive Income
- Staking rewards: 30% service fee
- Dollar-cost averaging: Effective fee of 0.1–4%
Factor these into ROI calculations.
⚠️ Limited Exchange-Listed Assets (25 vs. 36)
Only 25 cryptocurrencies support peer-to-peer trading—fewer than competitors.
Who Should Use Coincheck?
Ideal for:
- Beginners seeking simplicity
- Users wanting NFT access
- Those interested in passive income
- People valuing UX over minimal fees
- Investors exploring diverse altcoins
Less suitable for:
- High-frequency traders
- Cost-sensitive users
- Those needing advanced trading tools
Lower-Fee Alternatives in Japan
🔹 bitbank
- Negative maker fees (up to -0.02%)
- Over 40 tradable assets
- High liquidity but higher withdrawal fees
🔹 bitFlyer
- Industry-leading BTC volume
- Strong security (zero breaches)
- Higher fees outside SBI Bank network
🔹 SBI VC Trade
- Zero deposit/withdrawal/transfer fees
- Maker rebate of -0.01%
- Integrated with SBI Web3 Wallet
Best for cost-conscious investors seeking full-service features.
Frequently Asked Questions (FAQ)
Is there an exchange model on Coincheck?
Yes, but only via desktop—not supported in the mobile app. Only 25 of 36 listed assets are available for exchange trading.
How are Coincheck fees calculated?
- Trading: Amount × fee rate (max ¥100 on ¥100k trade)
- Deposits/Withdrawals: Fixed per transaction
- Spreads: Embedded in price difference (~5% max)
Are Coincheck’s transfer fees too high?
Compared to free-transfer platforms like GMO Coin or BITPOINT, yes—especially for BTC/ETH during congestion. Use XRP for cheaper cross-chain moves.
Can I check the spread before buying?
Yes—compare “Buy” and “Sell” prices in the broker section. The gap represents the spread cost.
Are there account maintenance fees?
No. Holding crypto or keeping an account incurs no charges.
Why did I receive less crypto than paid?
Due to spreads in broker-mode trades. Always review pricing details before confirming purchases.
Final Verdict: Is Coincheck Worth It?
While Coincheck’s fees are on the higher end, especially for deposits, withdrawals, and transfers, its strengths lie in accessibility, education, and ecosystem integration.
For beginners or passive investors focused on ease-of-use and real-world utility, the premium is justified. Active traders might prefer bitbank or SBI VC Trade for tighter spreads and rebates.
Ultimately, choose based on your priorities:
- Lowest fees? → SBI VC Trade or bitbank
- Ease of use & features? → Coincheck
With smart strategies—like using bank transfers and low-cost cryptos—you can still make Coincheck work efficiently within your portfolio.