The Japanese cryptocurrency exchange Coincheck has decided to drop its leveraged trading services. The information comes straight from a blog post of the company.
The leveraged crypto trading feature is expected to end on March 13, 2020 (Friday) at 12:00. By this time, all positions should be settled. After March 13, all customers will have until the end of the month to transfer any Japanese Yen in the exchange’s account to their own accounts.
However, if any positions are not settled by this date, then they will be automatically closed and any outstanding balance will be transferred to leverage amount. Naturally, any leverage account balances not transferred by the end of the month will also be automatically transferred after the date.
What is also new for Coincheck is that new orders for this leverage trading is suspended as of now. The only thing that can still be done is the history of leveraged trades can still be accessed by users. However, there may be changes that may be implemented without any notice.
The most probable reason why Coincheck may have decided to stop this type of service is lack of interest from customers.
The exchange assured its customers that it will continue to upgrade and improve the usability of the services and work on new ones that are interesting and supported by customers.
More about Coincheck can be found here: