Coincheck API

Japan’s Coincheck was founded in 2014 as a cryptocurrency exchange. Users can purchase or trade various types of cryptocurrencies using the platform.

By utilizing APIs, different software programs can interact and share data. Access to automated trading strategies, market statistics and account management is possible for users through several APIs provided. With these APIs, users can submit orders, retrieve their order history and observe real-time market data.

The popularity of their Exchange API is unmatched. The API permits placing orders, checking trade history and accessing real-time market information. To enable fast and reliable data transmission, The Exchange API supports both REST and WebSocket protocols.

A Trading API is also provided which caters to more experienced users interested in developing bespoke trading bots. Advanced order placement such as stop-loss orders and trade history access are possible with the Trading API.

The company’s history of security has been inconsistent. Approximately $530 million worth of cryptocurrencies were stolen in a major hack suffered by the exchange in 2018. The occurrence resulted in a notable decrease in trust in the platform. In the cryptocurrency industry, having proper security protocols was emphasized as crucial.

They took various measures to enhance their security protocols after the hack. The exchange has moved most of its customers’ assets to cold storage. As an offline data storage method, cold storage is harder to hack into. The team carries out regular security audits and penetration testing to maintain the safety of its systems.

They have also incorporated a two-factor authentication (2FA) system along with these procedures. To prevent unauthorized access to users’ accounts is the main objective of this system. A code sent to their phone is an example of the second factor that users must provide for this system. Included with their login credentials is an extra security step like this.

The compliance of Coincheck’s anti-money laundering (AML) and know-your-customer (KYC) practices with the Japanese Financial Services Agency (FSA)’s regulations has been verified. User verification is a requirement that the exchange must fulfill. Monitoring their transactions for suspicious activities is also required.