Volume 24H: $2,614,972
Korbit is the longest running and second largest crypto exchange in South Korea. It was the first Korean exchange to offer BTC/KRW trading and has high Bitcoin and especially Ethereum volumes. Korbit has earned a solid reputation and is known for offering really competitive fees, high liquidity levels, and good security features for its users. This exchange was heavily invested in by VC funding.
Korbit's web-based platform looks solid, with a nice market depth chart and well-designed order book, trading history, and market conditions features. The interface is easy and user-friendly thus suitable both for beginners and professional traders. Korbit follows strict compliance standards and has three levels of verification after email verification. The user feedback is mostly positive.
Crypto Currencies Support
Traditional Currency Support
- South Korean Won (KRW)
- Korea (Republic of)
- Web Interface
- Mobile App
Stock Market Options
- Allows customized alerts and notifications
- Limit Order
- Market Order
- Stop Order
- One Cancel Other Order
The Big Traders:
- Reduced Maker fees
- Volume based discounts
In terms of security, Korbit has a good reputation. The exchange stores up to 80% of user assets via cold storage to prevent hacking, limits the number of password errors, uses AES-256 encryption, and uses multi factors authentication for a more secure service. Moreover, Korbit offers a multi-sig wallet and uses BitTrust to prove monthly that user Bitcoins deposits are safely kept.
Advanced Security Features:
- Email reports of logins
- Monitor bahavior patterns for suspicious activity
- Protection from DDoS attackes
Legal Registration or Compliance:
- KYC/AML Compliant
Korbit exchange is part of the Korean company Korbit Inc, based in Seoul, Korea. The exchange was founded in 2013 by Louis Jinhwa Kim and managed to raise $3.6 million from top investors. Actually, in late September 2017, Korbit was acquired by NXC, the parent company of Japanese games giant Nexon. The deal was struck for a stake of 65.13% at $80 million.
Korbit is an important Korean cryptocurrency exchange known for trading among the highest global volumes of Ethereum. It has a nice, easy to use trading platform, no deposit fees and generally low fees, high security measures with cold storage and multi-sig features and offers several altcoins. Disadvantages include the domestic focus with trading against KWR and no leverage provided.
Deposit from bank account, Deposit using credit card, Withdrawl funds to bank account, Withdrawal funds to credit card
Korbit offers trading for Bitcoin and most major altcoins against the KWR as well as maker and taker fees depending on transaction type and user trading volume over the last 30 days. Credit cards and bank transfers from Korean banks are accepted and users with no Korean mobile phone or bank account cannot use the exchange. There are no deposit fees, but Korbit applies fees on withdrawals.
Trading against KWR