Can You Buy XRP on Coincheck?

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XRP is one of the most recognized digital assets globally, praised for its potential and long-term viability thanks to strategic partnerships with major financial institutions — including prominent Japanese banking groups. Despite rumors suggesting otherwise, yes, you can absolutely buy XRP on Coincheck, one of Japan’s leading cryptocurrency exchanges. This guide will walk you through everything you need to know about purchasing XRP on Coincheck, from account setup to final transaction steps — all in a clear, beginner-friendly format.

Whether you're new to crypto or looking to diversify your portfolio, Coincheck offers a seamless way to get started with as little as 500 JPY.

What Is XRP?

XRP is a digital asset built on the XRP Ledger, a decentralized ledger technology originally developed by David Schwartz and advanced by OpenCoin (now Ripple, Inc.). Unlike traditional cryptocurrencies focused solely on peer-to-peer payments, XRP is engineered specifically for fast, low-cost international money transfers.

Ripple, Inc. operates RippleNet, a global payment network that uses the Ripple Transaction Protocol (RTXP), enabling financial institutions to send cross-border payments instantly and securely.

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The Problem with Traditional International Transfers

Before XRP, international transfers relied heavily on systems like SWIFT, which often take 2–3 business days to complete. If either the sender's or recipient’s bank isn’t part of the SWIFT network, funds may pass through multiple intermediary ("correspondent") banks — increasing both cost and processing time.

These inefficiencies disproportionately affect individuals in developing countries who rely on remittances but face high fees and slow delivery.

How XRP Solves These Challenges

XRP addresses these pain points with three core advantages:

By using IOUs (I Owe You) within RippleNet, financial institutions can verify obligations instantly before releasing funds — making the entire process transparent and efficient.

This performance has earned RippleNet endorsements from major banks and credit card companies worldwide.

Key Features of XRP-Powered Services

Real-Time, Low-Cost Global Payments

Through xCurrent, Ripple enables banks and financial institutions to conduct real-time international settlements. Every transaction is traceable via an auxiliary ledger system called the Interledger Protocol, ensuring full transparency across institutions.

Messages sent via the "Messenger" component confirm transaction details, while validators authenticate them — all without requiring trust between counterparties.

Financial Inclusion for Developing Economies

With xRapid, Ripple leverages XRP as a bridge currency to facilitate low-cost transfers in regions with limited banking infrastructure.

Here’s how it works:

  1. Sender converts local currency → XRP
  2. XRP is transferred instantly to recipient country
  3. Recipient converts XRP → local currency

This eliminates the need for pre-funded accounts in foreign currencies, reducing liquidity costs and expanding access to fast remittances.

Accessible to Small Institutions and Businesses

Even businesses not directly part of RippleNet can use xVia, an API-based interface that allows seamless integration into the Ripple ecosystem.

With xVia:

This opens up enterprise-grade financial tools to SMEs and startups alike.

Can You Actually Buy XRP on Coincheck?

Yes — and it's easier than you think.

Despite misinformation circulating online, Coincheck fully supports XRP trading. As one of Japan’s largest regulated crypto exchanges (registered under the Kanto Finance Bureau), Coincheck offers over 30 cryptocurrencies, including:

And many more — giving users broad diversification options.

Buy XRP with JPY or BTC

On Coincheck, you can purchase XRP using:

Selling XRP back to JPY also starts at just 500 JPY, making it ideal for beginners testing the waters or investors practicing dollar-cost averaging.

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How to Buy XRP on Coincheck: Step-by-Step

Follow these simple steps to go from zero to owning XRP in under 15 minutes.

Step 1: Download the App & Create an Account

  1. Download the Coincheck app from the App Store or Google Play
  2. Open the app and tap “Register”
  3. Enter your email address and create a secure password

Alternatively, sign up via web browser at coincheck.com

Step 2: Complete Identity Verification

To comply with Japanese financial regulations, you must verify your identity. Requirements:

Process:

  1. Tap “Verify Identity” in-app
  2. Accept terms and conditions
  3. Enter phone number and confirm via SMS code
  4. Fill in personal details: name, birthdate, address, occupation

  5. Upload valid ID document:

    • Driver’s license
    • Passport
    • Residence card
    • My Number Card (front only)
  6. Take a selfie holding your ID (for web users)
  7. Submit photos of ID front/back and a live face scan (for app users)

Verification typically takes 1–2 business days. Once approved, you’ll receive confirmation via email and postal mail.

Step 3: Deposit JPY and Buy XRP

Deposit Funds

Choose from three deposit methods:

GMO Aozora Bank and Rakuten Bank users enjoy fast processing times.

Buy XRP

  1. Tap “Sales Desk” (販売所) in the app
  2. Select XRP
  3. Choose “Buy with JPY”
  4. Enter amount in yen or XRP
  5. Confirm purchase

Your XRP will appear in your wallet immediately.

For desktop users:

You can also trade using BTC as your base currency.

Important Fees When Buying XRP on Coincheck

Understanding fees helps maximize returns and avoid surprises.

Deposit Fees

Withdrawal Fees

Note: Fees accurate as of July 2022; subject to change.

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Frequently Asked Questions (FAQ)

Q1: Is XRP available on Coincheck?

Yes. You can buy, sell, and hold XRP directly on Coincheck using JPY or BTC.

Q2: What is the minimum amount I can buy?

You can start with just 500 JPY — perfect for beginners or small-scale investors.

Q3: Do I need to complete KYC to buy XRP?

Yes. Japanese regulations require identity verification before trading any cryptocurrency on Coincheck.

Q4: Are there hidden fees when buying XRP?

No hidden charges. All fees are transparently listed on Coincheck’s official site under “Fees & Limits.”

Q5: Can I transfer my XRP to another wallet?

Yes, but be cautious: always use the XRP network (Ripple) when withdrawing. Sending via wrong networks may result in permanent loss.

Q6: Is Coincheck safe?

Absolutely. Coincheck is licensed by the Kanto Finance Bureau (#00014), uses cold storage for 95%+ of assets, and is a member of the Japan Virtual Currency Exchange Association (JVCEA).

Final Thoughts: XRP Is Easy to Buy on Coincheck

Contrary to popular myth, XRP is readily available on Coincheck — and purchasing it is straightforward even for first-time users. With support for small investments starting at 500 JPY, robust security measures, and integration with Ripple’s cutting-edge payment infrastructure, Coincheck remains one of the best gateways into the world of digital assets in Japan.

Whether you're interested in fast global payments, financial innovation, or portfolio diversification, now is a great time to explore what XRP has to offer — right from your smartphone.

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