If you’ve recently tried to purchase Ripple (XRP) on Coincheck, you may have noticed it’s not available through their exchange platform. While XRP can still be bought on Coincheck, it’s only offered through their sales desk (simplified purchase method), not via traditional exchange trading. This limitation raises questions—why is this the case? And more importantly, where can you trade XRP more freely and efficiently?
This guide explains the reasons behind Coincheck’s XRP restrictions, explores better alternative exchanges, outlines step-by-step purchase methods, and covers essential details about XRP transactions—especially when sending funds.
Whether you're new to crypto or an experienced trader, this comprehensive overview ensures you understand how to access and use XRP safely and effectively in 2025.
Why Can’t You Trade XRP on Coincheck’s Exchange?
You can buy Ripple (XRP) on Coincheck—but not through its exchange function. Only a limited number of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are supported for peer-to-peer trading on Coincheck’s exchange platform.
XRP is only available via Coincheck’s sales desk, where the company itself acts as the seller at a fixed price. This means:
- No order book or market-driven pricing
- No limit orders or advanced trading features
- Immediate execution at a slightly marked-up rate
👉 Discover platforms that offer full XRP trading with real-time order books and lower fees.
Why Doesn’t Coincheck Support XRP on Its Exchange?
The reason lies in business incentives. When users buy crypto through Coincheck’s sales desk, the platform earns higher margins due to built-in spreads. In contrast, exchange trades generate smaller fee income.
By limiting XRP to the sales desk, Coincheck encourages users to accept less competitive pricing—maximizing their revenue per transaction. While legal and regulatory compliance plays a role, profitability appears to be the primary driver.
Key Differences: Exchange vs. Sales Desk
Understanding these models helps clarify your options:
1. Counterparty
- Exchange: Trade directly with other users
- Sales Desk: Trade with Coincheck as the counterparty
2. Pricing Mechanism
- Exchange: Market-based prices from buy/sell orders
- Sales Desk: Fixed rates set by Coincheck (includes markup)
3. Speed of Execution
- Exchange: Trades execute when matching orders exist
- Sales Desk: Instant settlement at listed price
4. Available Cryptocurrencies
- Exchange: Limited selection (BTC, ETH, etc.)
- Sales Desk: Broader range including XRP, LINK, APE, and more
While the sales desk offers convenience, it lacks transparency and control—especially for active traders.
Best Alternatives to Buy XRP in Japan (2025)
For full exchange functionality, low fees, and greater flexibility, consider these trusted platforms that support XRP trading.
bitbank – Top Domestic Choice for XRP Traders
bitbank stands out as one of Japan’s most reliable exchanges for XRP trading.
Key Features:
- ✅ Offers both exchange and sales desk trading for XRP
- ✅ Over 40 supported cryptocurrencies
- ✅ Industry-leading security: cold storage, 2FA, multi-signature wallets
- ✅ Mobile app with intuitive UI and real-time charting
- ✅ Negative maker fees: up to -0.02% (you get paid to provide liquidity)
- ✅ Free JPY deposits and withdrawals
bitbank has consistently ranked as the #1 domestic exchange for altcoin trading volume (JVCEA data, Jan 2023 – Oct 2024).
👉 Start trading XRP with deep liquidity and ultra-low fees today.
Bybit – Leading Global Platform for Advanced XRP Trading
Though not licensed in Japan, Bybit is widely used by Japanese speakers thanks to full Japanese language support and seamless UX.
Why Traders Choose Bybit:
- 🔍 Spot and futures trading with up to 100x leverage
- 💬 Fully localized: interface, customer support, tutorials
- 🛡️ Robust security: cold wallets, two-factor authentication, zero-loss protection
- 💸 Ultra-low fees: 0.005%–0.1% taker fees
- 📊 Advanced tools: copy trading, grid bots, staking
Bybit consistently ranks among the top global exchanges by trading volume (CoinMarketCap).
Other Notable Exchanges
Bitget
- Up to 125x leverage
- Copy trading feature ideal for beginners
- Dual Investment product for bullish/bearish strategies
- Japanese interface and support
MEXC
- Supports over 1,400 spot pairs—ideal for niche tokens
- Zero maker fees and low taker fees (0.2%)
- High-yield staking up to 40% APY
- Full Japanese localization
While international exchanges offer powerful tools, domestic platforms like bitbank provide stronger regulatory safeguards.
How to Buy XRP: Step-by-Step Guide
On bitbank:
- Register and complete KYC verification
- Deposit JPY via bank transfer (free)
- Navigate to “Exchange” > “XRP/JPY”
- Place a market or limit order
- Confirm transaction
You now hold XRP tradable or withdrawable at any time.
On Bybit:
- Sign up and verify identity
- Deposit JPY via P2P or convert from USDT
- Go to “Spot Trading” > “XRP/USDT”
- Enter amount and place order
- Withdraw to wallet if desired
Both platforms allow quick onboarding with mobile apps for iOS and Android.
Understanding Ripple (XRP): Core Features & Benefits
Ripple (XRP) is a digital asset designed specifically for fast, low-cost international payments.
Key Facts About XRP:
- Total Supply: 100 billion XRP (all pre-mined)
- Transaction Speed: ~3–5 seconds
- Average Fee: Less than $0.01 (≈ ¥1–2)
- Consensus Mechanism: Ripple Protocol Consensus Algorithm (RPCA), not proof-of-work
- Use Case: Cross-border payments for banks and institutions
Unlike Bitcoin (which takes ~10 minutes per transaction), XRP enables near-instant settlement—making it ideal for remittances and institutional transfers.
Major Companies Using RippleNet:
- Santander
- Standard Chartered
- MoneyGram
- SBI Remit
- Mitsubishi UFJ Financial Group (MUFG)
Over 300 financial institutions worldwide use Ripple’s network to streamline global transfers.
XRP vs. Bitcoin: A Quick Comparison
| Feature | XRP | Bitcoin |
|---|---|---|
| Avg. Transaction Time | 3–5 seconds | ~10 minutes |
| Scalability | 1,500+ TPS | ~7 TPS |
| Energy Efficiency | Extremely low | High |
| Primary Use Case | Institutional remittances | Store of value |
XRP excels in utility rather than decentralization—ideal for real-world payment solutions.
Sending XRP: Destination Tag & Safety Tips
One of the most critical aspects of using XRP is understanding the Destination Tag.
What Is a Destination Tag?
A Destination Tag is a unique numeric identifier (1–10 digits) required when sending XRP to certain exchanges or services.
Think of it like a bank account’s sub-number—while multiple users share one deposit address, the tag ensures funds go to the correct recipient.
Examples:
- Sending to bitbank? → Requires destination tag
- Sending to Bybit? → May require memo/tag
- Personal wallet? → Usually not needed
⚠️ Failure to include the correct tag may result in permanent loss of funds.
Best Practices for Safe XRP Transfers
- ✅ Always copy-paste the destination tag—never type manually
- ✅ Double-check both address and tag before confirming
- ✅ Do a test transfer with a small amount first
- ✅ Confirm daily withdrawal limits on your exchange
- ✅ Understand Japan’s Travel Rule requirements (enforced since June 2023)
- ✅ Never send XRP to a non-XRP-compatible wallet
Remember: All XRP transactions are irreversible. Once sent, there's no way to cancel or recover funds if sent incorrectly.
Frequently Asked Questions (FAQ)
Q: Can I buy XRP on Coincheck?
A: Yes—but only through the sales desk at a fixed price. You cannot trade XRP on Coincheck’s exchange platform.
Q: Why doesn’t Coincheck support XRP trading?
A: Likely due to profitability; sales desk purchases generate higher margins than exchange fees.
Q: Is XRP safe to invest in?
A: XRP has strong institutional adoption but carries regulatory risk due to its centralized nature and ongoing legal scrutiny in some regions.
Q: Do I always need a destination tag when sending XRP?
A: Only when depositing to exchanges or custodial wallets that require it. Always check deposit instructions carefully.
Q: Which exchange has the lowest XRP trading fees?
A: bitbank offers negative maker fees (-0.02%), while Bybit and MEXC offer some of the lowest taker fees globally.
Q: Can I stake or earn interest on XRP?
A: Some platforms like bitbank offer lending programs yielding up to 3% APY on held assets.
Final Thoughts: Choosing the Right Path for XRP Access
While Coincheck provides easy access to XRP for beginners via its sales desk, serious traders should look elsewhere for better pricing, deeper liquidity, and more control.
Domestic exchanges like bitbank offer regulatory safety and strong functionality, while global platforms like Bybit deliver advanced tools and ultra-low costs.
Regardless of your choice, always prioritize security: enable two-factor authentication, verify destination tags meticulously, and stay informed about evolving regulations.
Ripple continues to play a pivotal role in transforming cross-border finance—with growing adoption by banks and fintech firms worldwide.
👉 Access real-time XRP markets with professional-grade tools and tight spreads now.