Is Coincheck’s Fee Too High? A Complete Review and How to Reduce Costs

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When diving into the world of cryptocurrency investing in Japan, one name consistently stands out: Coincheck. Known for its user-friendly interface and wide range of supported assets, it's often the go-to platform for beginners. But a common question lingers among both new and experienced traders:

Is Coincheck’s fee structure actually too high?

In this comprehensive guide, we’ll break down Coincheck’s fees in detail, compare them with other major Japanese exchanges like GMO Coin and DMM Bitcoin, and reveal practical strategies to minimize costs. We’ll also identify who Coincheck is best suited for—and who might benefit more from switching platforms.

By the end of this article, you'll clearly understand:

Let’s dive in.

Understanding Coincheck’s Fee Structure

Before jumping into comparisons, let’s outline Coincheck’s core fees as of 2025:

👉 Discover a platform with competitive fees and fast account setup.

While trading fees—especially taker fees—are among the lowest in Japan, deposit and withdrawal costs are notably higher than many competitors. This makes Coincheck less ideal for frequent small transfers but still viable for long-term investors or those prioritizing ease of use over marginal cost savings.

How Does Coincheck Compare to Other Exchanges?

To truly assess value, we need context. Here’s how Coincheck stacks up against four leading Japanese exchanges across key cost categories.

JPY Deposit & Withdrawal Fees Comparison

ExchangeJPY Deposit FeeJPY Withdrawal Fee
Coincheck¥770–¥1,018 (convenience) / Free (bank)¥407
GMO CoinFreeFree
SBI VC TradeFree (SBI Bank), ¥330 (others)¥220–¥440
DMM BitcoinFree¥550–¥770
BitbankFree¥550–¥770

Verdict: If you frequently deposit via convenience stores or Quick Pay, Coincheck is expensive. However, bank transfers are free—aligning with industry standards.

👉 See how low fees can impact your long-term returns.

Trading Fees: Maker & Taker Rates

ExchangeMaker FeeTaker Fee
CoincheckFree or 0.05%Free or 0.1%
GMO Coin-0.01% to -0.03% (rebates!)0.05%–0.09%
SBI VC Trade0.01%–0.15% (volume-based)0.1%
BitbankFree or -0.02%Free or 0.12%
DMM BitcoinFreeFree

Verdict: Coincheck offers highly competitive taker fees, often free for most assets (excluding ETC and PLT). But GMO Coin leads with negative maker fees, meaning you earn rebates for adding liquidity—ideal for active traders.

Crypto Transfer Fees

ExchangeBTC SendETH SendXRP Send
CoincheckVariable0.005 ETH0.15 XRP
GMO CoinFreeFreeFree
DMM BitcoinFreeFreeFree
BitbankFreeFreeFree

Verdict: Coincheck charges network-level fees, while several rivals offer free internal transfers. If you regularly move crypto between wallets or exchanges, this adds up quickly.

Is Coincheck’s Spread Too Wide?

The spread—the difference between buy and sell prices—is an often-overlooked cost. Wider spreads mean you pay more upfront on every trade.

Here’s a snapshot of BTC/JPY spreads:

While not the widest, Coincheck’s spread is above average, especially compared to Bitflyer. However, for less liquid altcoins, spreads across all platforms widen—so this isn’t a dealbreaker if you’re diversified.

Why Do So Many People Still Use Coincheck?

Despite higher fees in some areas, Coincheck remains one of Japan’s most trusted and widely used exchanges. Here’s why.

✅ #1: Best-in-Class Mobile App Experience

With over 5.4 million downloads and four consecutive years as the top-downloaded crypto app in Japan, Coincheck excels in usability.

Its clean design, intuitive navigation, real-time alerts, and built-in educational tools make it perfect for beginners. The app even guides users on reading charts and placing orders—reducing the learning curve significantly.

Average App Store rating: 4.2 stars

✅ #2: Largest Selection of Tradable Assets

Coincheck supports 29+ cryptocurrencies on its spot market—the highest among major Japanese exchanges.

Compare that to:

More importantly, all spot trades on Coincheck are commission-free, giving users full access to a broad portfolio without extra costs.

This makes it ideal for investors interested in altcoins beyond BTC and ETH.

✅ #3: High Bitcoin Liquidity

As of early 2025, over 36% of all BTC traded in Japan happens on Coincheck. In mid-2022, it briefly held the #1 spot for spot BTC trading volume.

High liquidity means:

And remember: BTC spot trading fees are completely free on Coincheck.

Who Should Use Coincheck?

Based on its strengths and weaknesses, here are the ideal users:

🟢 Ideal For:

🔴 Might Want to Look Elsewhere:

How to Reduce Fees on Coincheck

You don’t have to leave Coincheck to save money. Here are two proven strategies:

1. Use the Exchange Instead of the Sales Desk

Coincheck operates two markets:

While sales desk trades seem “free,” the spread acts as a hidden fee—often much higher than exchange fees.

👉 Example: Buying ¥100,000 worth of BTC via sales desk could cost an extra ¥3,000–¥6,000 in spread versus just ¥50–¥100 on the exchange.

✅ Solution: Always use the exchange market for better pricing. Note: Accessible only via web browser—not the mobile app.

2. Consolidate Deposits and Withdrawals

Since each deposit incurs a flat fee (up to ¥1,018), making multiple small deposits multiplies costs.

✅ Strategy: Deposit larger amounts less frequently. For example:

That’s a savings of ¥6,682—just by changing timing.

Lower-Fee Alternatives to Coincheck

If minimizing fees is your top priority, consider these two platforms:

🥇 GMO Coin – The Zero-Fee Powerhouse

GMO Coin dominates in cost efficiency:

👉 Perfect for active traders who want rebates instead of costs.

🥈 DMM Bitcoin – Free Transfers & Unique BitMatch System

DMM Bitcoin offers:

While BitMatch has small fees, regular spot trades are free—and spreads are generally tight.

👉 Great for users who want simplicity with minimal hidden costs.

Frequently Asked Questions (FAQ)

Q1: Is Coincheck safe for beginners?

Yes. Coincheck is operated by Monex Group, a publicly listed financial company. It uses cold storage for most assets and has strong regulatory compliance—making it one of the safest entry points into crypto in Japan.

Q2: Are there any hidden fees on Coincheck?

Yes—the biggest is the spread on the sales desk, which can reach 6%. Always check whether you're trading on the sales desk or exchange market.

Q3: Why is my withdrawal fee higher than expected?

Crypto withdrawal fees reflect real blockchain network costs (e.g., BTC mining fees). These fluctuate based on congestion—not set by Coincheck itself.

Q4: Can I avoid deposit fees entirely?

Yes. Use bank transfers instead of convenience store deposits, which are free regardless of amount.

Q5: Does Coincheck offer staking or yield products?

Yes. Coincheck offers staking for select coins like Ethereum and Solana, allowing users to earn passive income directly from their holdings.

Q6: Should I use Coincheck or switch to another exchange?

Stick with Coincheck if you value ease of use, mobile experience, and altcoin variety. Switch to GMO Coin or DMM Bitcoin if ultra-low fees and rebates are your priority.

Final Verdict: Is Coincheck Overpriced?

Short answer: Slightly—but not enough to outweigh its benefits for most beginners.

While deposit and transfer fees are on the higher side, Coincheck compensates with:

For new investors or those focused on long-term holdings, the slightly higher cost is a fair trade-off for simplicity and reliability.

👉 Compare low-cost trading platforms and start optimizing your crypto journey today.

If you're an advanced trader chasing rebates and micro-cost optimization, explore GMO Coin or OKX instead.

But for the average Japanese investor? Coincheck remains a top-tier starting point—and a solid long-term choice.