How to Buy Bitcoin on Coincheck: A Complete Guide [2024 Latest Edition]
Introduction
Buying Bitcoin is relatively simple, even for beginners. In this article, we will provide a detailed guide on how to purchase Bitcoin using Coincheck, based on the latest information.
Creating a Coincheck Account
Step 1: Download the App
First, download the official Coincheck app. iPhone users can find it on the App Store, while Android users can download it from the Google Play Store by searching for “Coincheck”.
Step 2: Register an Account
Open the app and create an account by registering your email address from the “Sign Up” tab. Then, click the link sent to your email for verification.
Step 3: Identity Verification
Proceed with the identity verification process. Upload a photo of your identification document (driver’s license, passport, etc.) and a selfie. Verification may take a few days to complete.
Depositing Japanese Yen
Step 4: Deposit Funds
Once your account is created and verified, deposit Japanese yen into your Coincheck account. The main methods are:
- Bank Transfer: Transfer to the designated account.
- Convenience Store Deposit: Deposit through convenience store payment.
- Quick Deposit: A method that reflects deposits immediately.
For example, for bank transfers, select “Wallet” -> “JPY/Deposit” in the app, choose the bank, and transfer the funds.
Buying Bitcoin
Step 5: Purchase Bitcoin
Once your deposit is confirmed, you can purchase Bitcoin. Coincheck offers two methods to buy Bitcoin: through the “Exchange” and the “Trading Platform”.
Buying at the Exchange
At the Exchange, you buy Bitcoin directly from Coincheck. The steps are:
- Select the “Exchange” tab in the app.
- Choose Bitcoin (BTC).
- Enter the amount and tap “Buy BTC with JPY”.
Buying on the Trading Platform
On the Trading Platform, you trade with other users. It often has lower fees compared to the Exchange but requires attention to timing and prices.
Security and Important Points
Setting Up Two-Factor Authentication
Enhance your account security by setting up Two-Factor Authentication (2FA):
- Select “Settings” -> “Two-Factor Authentication”.
- Download an authenticator app (e.g., Google Authenticator).
- Scan the QR code and enter the generated code.
Asset Management Tips
Managing your assets after purchase is crucial due to the volatility of cryptocurrencies. Keep in mind:
- Use a hardware wallet for long-term storage.
- Pay attention to trade timing for short-term transactions.
Conclusion
Using Coincheck to buy Bitcoin is straightforward and user-friendly for beginners. By following the steps from downloading the app, registering, verifying identity, depositing yen, and purchasing Bitcoin, you can start trading smoothly.
For more detailed information, visit the official Coincheck website.
Alternative Methods for Buying Bitcoin
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Using GMO Coin
Why?
GMO Coin is a popular cryptocurrency exchange in Japan, suitable for both beginners and experienced users. It boasts high security and low transaction fees.
How?
- Create an Account: Register on the GMO Coin official website.
- Verify Identity: Upload ID documents and wait for approval.
- Deposit Funds: Deposit yen via bank transfer, convenience store, or quick deposit.
- Buy Bitcoin: Use the app or website to purchase Bitcoin through the exchange or trading platform.
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Using bitFlyer
Why?
bitFlyer is one of Japan’s largest cryptocurrency exchanges by trading volume, known for its ease of use and high security.
How?
- Create an Account: Register on the bitFlyer official website.
- Verify Identity: Submit required information and ID documents.
- Deposit Funds: Deposit yen via bank transfer, quick deposit, or convenience store.
- Buy Bitcoin: Purchase Bitcoin via the website or app through the exchange or trading platform.
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Using DMM Bitcoin
Why?
DMM Bitcoin, operated by the DMM Group, offers an intuitive interface and extensive support for beginners.
How?
- Create an Account: Register on the DMM Bitcoin official website.
- Verify Identity: Submit ID documents and complete verification.
- Deposit Funds: Deposit yen via bank transfer or convenience store.
- Buy Bitcoin: Purchase Bitcoin through the website or app via the exchange or trading platform.
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Using Rakuten Wallet
Why?
Rakuten Wallet allows you to purchase Bitcoin using Rakuten Points, offering a unique advantage.
How?
- Create an Account: Register with your Rakuten ID on the Rakuten Wallet official website.
- Verify Identity: Upload ID documents.
- Deposit Funds: Deposit yen from Rakuten Bank or use Rakuten Points.
- Buy Bitcoin: Purchase Bitcoin via the app or website.
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Using SBI VC Trade
Why?
Operated by the SBI Group, SBI VC Trade offers reliability and security backed by extensive financial industry experience.
How?
- Create an Account: Register on the SBI VC Trade official website.
- Verify Identity: Submit ID documents for approval.
- Deposit Funds: Deposit yen via bank transfer.
- Buy Bitcoin: Purchase Bitcoin through the exchange or trading platform.
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Using LINE BITMAX
Why?
LINE BITMAX integrates seamlessly with the LINE app, allowing easy use and LINE Pay deposits.
How?
- Create an Account: Open BITMAX within the LINE app and register.
- Verify Identity: Complete the verification process within the app.
- Deposit Funds: Use LINE Pay for deposits.
- Buy Bitcoin: Purchase Bitcoin directly within the LINE app.
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Using Overseas Exchanges
Why?
Overseas exchanges often offer a wide variety of cryptocurrencies and lower fees. However, they come with certain risks.
How?
- Create an Account: Register on an exchange like Binance or Kraken.
- Verify Identity: Submit necessary documents for verification.
- Deposit Funds: Deposit funds via credit card or bank transfer; some exchanges accept other cryptocurrencies.
- Buy Bitcoin: Trade Bitcoin on the platform with potentially lower fees.
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Using Automated Trading Tools
Why?
Automated trading tools help beginners buy Bitcoin efficiently by analyzing market trends and executing trades automatically.
How?
- Choose a Tool: Select a tool such as Coinrule or Cryptohopper.
- Create an Account: Register on the chosen tool’s website.
- Link to Exchange: Connect the tool to your cryptocurrency exchange via API.
- Set Up and Start: Configure your trading strategy and start automated trading.
These eight alternatives offer various ways to purchase Bitcoin, each with unique advantages and drawbacks. Choose the method that best fits your needs, considering security, fees, and ease of use.
