Based on the provided search results, here’s information regarding the “coin check” tradition within the military and how it relates to Coincheck, a cryptocurrency exchange:
- A military coin check is a tradition designed to promote camaraderie and unit identity among service members.
- The tradition involves challenge coins, which are small medallions bearing an organization’s insignia or emblem.
- A coin check is initiated by a member who challenges others to reveal their challenge coins by slamming their coin on a surface or shouting “coin check!”.
- If a challenged member cannot produce their coin, they face a penalty, often buying a round of drinks or performing a task.
- If everyone produces their coin, the challenger is penalized.
- This tradition highlights the importance of always carrying your coin as a symbol of service and belonging.
- Coincheck is a Japanese cryptocurrency exchange that operates under the regulations of the Financial Services Agency (FSA).
- Japan was a pioneer in regulating cryptocurrency through the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA).
- Crypto exchanges in Japan, including Coincheck, must register with the FSA and comply with strict Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) protocols.
- In 2018, Coincheck experienced a major hacking incident, which led to stricter regulations for cryptocurrency exchanges in Japan.
- As of July 2025, Japan’s FIEA plays a larger role in regulating cryptocurrencies, with certain digital assets reclassified as securities.
- Japan plans to replace its progressive crypto tax with a flat 20% capital gains tax in 2026.
In essence, while the term “coin check” has a specific meaning and practice within the military, Coincheck is a separate entity entirely, operating as a regulated cryptocurrency exchange in Japan, [according to Cointelegraph] and [Bitcoin.com News] . There is no inherent connection between the military tradition and the cryptocurrency exchange beyond the shared use of the word “coin”.
What is a coin check in the military?
Military members still carry one challenge coin to prove their loyalty and in case of a “coin check.” A coin check occurs when a member challenges the others to reveal their challenge coins. If any member fails to do so, it is their responsibility to buy a round of drinks for everyone.
What does it mean when a military person gives you a coin?
Great question! The heritage of these coins has evolved to represent oath, loyalty, respect, and camaraderie for a team or unit. Historically, military unit leaders have presented the coins to honor an individual or as a gesture of gratitude. Most servicemen and women proudly display their coins in many ways.
How much does it cost to get a coin checked?
Coin collectors may offer free appraisals prior to a purchase offer. For paid appraisals, the average price of time that you may be charged for an appraisal is somewhere between $100 and $250 per hour. Insurance appraisals can cost you anywhere between $50 and $100 per coin.
What is coin checking?
Good point! At Simmons Bank, this account is called a Coin checking account. It is made for people who predominantly use mobile banking and don’t typically go into branches, but you have all the customer support from a bank if you need it.