Introduction
Coincheck, operated by Monex Group, is one of Japan’s largest cryptocurrency exchanges, offering services like trading, recurring purchases, NFT transactions, and crypto lending. A common question among users is whether Ripple (XRP) can be traded on Coincheck’s exchange platform (not just the “instant buy” marketplace).
Key Takeaways:
– Coincheck’s exchange now supports XRP trading as of September 2024.
– Earlier, XRP was only available via Coincheck’s “instant buy” marketplace, which had wider spreads.
– The exchange offers zero-fee trading for XRP and other select altcoins.
Coincheck Exchange: XRP Trading Explained
Historical Context
Previously, XRP was unavailable on Coincheck’s exchange due to liquidity and regulatory considerations. However, since September 4, 2024, XRP became tradable on the exchange with:
– Zero taker fees (competitive with global platforms).
– Direct access via the Coincheck app’s FAQ/support page.
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Key Features
| Asset | Taker Fee |
|---|---|
| XRP | 0.000% |
| BTC | 0.000% |
| ETH | 0.000% |
Note: Liquidity for XRP on Coincheck’s exchange may be lower compared to specialized platforms like Bitbank (Japan’s altcoin volume leader).
Challenges and Alternatives
Liquidity Concerns
- Thin order books may lead to delayed trade executions.
- Price discrepancies can occur versus high-volume exchanges.
Recommended Alternatives
For active traders, these Japanese exchanges offer deeper liquidity:
1. Bitbank
– Highest altcoin trading volume domestically.
– Integrated TradingView charts.
2. BITPOINT
– Zero trading and withdrawal fees.
– High-yield staking options.
3. OKCoin Japan
– Tight spreads for instant buys.
👉 Compare top exchanges for XRP trading
FAQs
1. Is XRP available on Coincheck’s exchange?
Yes, since September 2024. Both spot trading and instant buys are supported.
2. Why does Coincheck have lower XRP liquidity?
Coincheck’s user base primarily uses its marketplace (not exchange), reducing order book depth.
3. Are there fees for XRP trades?
No taker fees, but spreads apply in the instant buy marketplace.
4. How does Coincheck compare to Bitbank for XRP?
Bitbank has 3x higher daily XRP volume, enabling faster trades at market prices.
5. Can I stake XRP on Coincheck?
No, but BITPOINT and OKCoin Japan offer staking with annual yields up to 10%.
Conclusion
While Coincheck now supports XRP trading, its lower liquidity may deter active traders. For frequent XRP transactions, consider platforms like Bitbank or OKCoin Japan. Always verify fees and order book depth before trading.
Final Tip: Use exchanges with robust security audits and liquidity metrics to minimize slippage.
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