UPbit
- Overview
- Security
- User Experience
Volume 24H: BTC 36,942,993/24h
UPbit is a popular South-Korean professional trading platform that provides trading for many cryptocurrencies against the Korean Wan. This exchange can be used internationally but users need a South Korean bank account and phone number. The platform is an integrated service with Bittrex, so customers of Bittrex are also able to trade on UPbit exchange.
This dashboard of this platform is complex with a sleek design, mostly intended for experienced traders. Due to its integration with the secured services of Bittrex exchange and BitGo wallet, this platform stands out as being trustworthy for users to store larger amounts of crypto assets.
Crypto Currencies Support
- BCH
- BTC
- DASH
- ETH
- NEO
- USDT
Traditional Currency Support
Language Support
- Korean
Country Support
- Korea (Republic of)
Platforms Systems
- — Api
- — Mobile App
- — Web Interface
Stock Market Options
This platform secures users' funds in BitGo multi-signature wallets, ensuring a decent degree of security through 2FA with KakaoPay for its users. UPbit servers use a SSL-connection and are regularly tested for hacking attempts. Also, the exchange has DDoS protection against attacks.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | User Funds 80 Are Held In Cold Storage With A Registeredcustodian |
UPbit was launched in 2017 by South Korean internet company Kakao, that also developed one of the most popular mobile messaging apps in Korea, called Kakao Talk. This platform is the first exchange to offer a Korean Won trading market for Ethereum. Key persons behind this trading platform are Kim Beom-soo and Rim Ji-hoon.
Summary:
With several currencies available for trading and with its services integrated with Bittrex and Bitgo, this platform gained fast traction in South Korea. Although it was launched in October 2017, this platform already trades a considerable amount of cryptocurrency volume, making it one of the top three exchange choices in the South Korean Blockchain community.
| Ease of use | Complex |
| Transaction Fees | Between 0.05-0.20% Depending On Volume |
| Deposit/Withdrawal Fee | It's Free (fees May Be Hidden), 0.0005 BTC /withdrawal |
| Deposit/Withdrawal Fee For Bank Transfer | It's Free (fees May Be Hidden), 1,000 Won/withdrawal |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | N/A |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Withdrawl funds to bank account, Send/Receive Crypto
Functionality:
This platform offers a mobile app for iOS and Android devices, extensive trading functionalities like advanced chart views and for professional traders and multiple crypto trading pairs against the KRW or USDT.
Most common customer complaint:
— Missing funds, transaction errors