Upbit.com

Volume

EST 50'000 BTC

Referal program

No

Domain age

2004-01-10

Supported languages

Website

Upbit.com

Community

Telegram

Pairs

EOSKRW
TRXKRW
BTCKRW
ADAKRW
ETHKRW
XRPKRW
ETCKRW
STORMKRW
BCHKRW
ZILKRW
QTUMKRW
SCKRW
AIDBTC
FTCBTC
ONTKRW
NEOKRW
GRSKRW
CMCTBTC
XLMKRW
TRXETH
ETCBTC
XVGBTC
SNTKRW
RDDBTC
ADABTC
TRXBTC
GTOKRW
BTCUSDT
ICXKRW
ETHBTC
OCNBTC
NBTBTC
UPBTC
SCBTC
BTGKRW
TUBEBTC
BLTBTC
XRPBTC
LTCKRW
POLYKRW
GUPBTC
QTUMBTC
STEEMKRW
LOOMKRW
SBDKRW
SLSBTC
BATBTC
GNTKRW
DCTBTC
DCRBTC
OMGKRW
SNTBTC
KMDKRW
RVRBTC
POLYBTC
NGCBTC
KMDBTC
BCHBTC
NEOBTC
MTLKRW
DCRKRW
STORMBTC
SYSBTC
WAVESKRW
WAVESBTC
BTGBTC
ARDRKRW
EDGBTC
XLMBTC
PTOYBTC
DGBBTC
ETCUSDT
TUSDBTC
RLCBTC
EMC2KRW
DASHKRW
ADAUSDT
XEMKRW
MEMEBTC
NXSBTC
XMRKRW
ADTBTC
POWRKRW
SRNBTC
DASHBTC
MERKRW
PARTBTC
GRSBTC
WAXBTC
TIXKRW
GNTBTC
STRATKRW
LTCBTC
PIVXBTC
XMRBTC
ETCETH
PROBTC
CVCBTC
ADAETH
PIVXKRW
OKBTC
DMTBTC
BAYBTC
XEMBTC
ARKBTC
ZECKRW
VIBBTC
SALTBTC
STRATBTC
SRNKRW
GTOBTC
ETHUSDT
TXBTC
OMGETH
ARDRBTC
SBDBTC
STEEMBTC
POWRBTC
XDNBTC
RCNBTC
LSKKRW
ARKKRW
TRXUSDT
DOGEBTC
ZRXBTC
NEOETH
GAMEBTC
BCHETH
IGNISBTC
IGNISKRW
MANABTC
BTGUSDT
ZECBTC
LSKBTC
XRPETH
SYNXBTC
EMC2BTC
VEEBTC
STORJKRW
SCUSDT
XLMETH
EMCBTC
ZRXKRW
SPHRBTC
REPBTC
BITBBTC
REPKRW
MCOKRW
BTGETH
VIABTC
UKGBTC
NXTBTC
ENGBTC
WINGSBTC
UNBBTC
MCOBTC
XRPUSDT
NAVBTC
GBYTEBTC
AIDETH
OMGBTC
SIBBTC
STORMETH
LRCBTC
DNTBTC
STORJBTC
POLYETH
VTCKRW
OCNETH
SNTETH
LTCETH
OMGUSDT
ZENBTC
NEOUSDT
CFIBTC
MONABTC
DASHUSDT
BCHUSDT
LTCUSDT
MERBTC
TIXBTC
XMRUSDT
CLOAKBTC
VTCBTC
VRCBTC
UBQBTC
RADSBTC
AMPBTC
XMRETH
GNTETH
SCETH
IONBTC
CVCETH
SWTBTC
DYNBTC
MUEBTC
BURSTBTC
FCTBTC
HMQBTC
STRATETH
WAVESETH
ADXBTC
LUNBTC
ANTBTC
XEMETH
QTUMETH
DCRUSDT
PAYBTC
SHIFTBTC
ZRXETH
RLCETH
IOPBTC
GTOETH
LBCBTC
POWRETH
XELBTC
STORJETH
NMRBTC
BNTBTC
EXPBTC
XVGUSDT
ZECETH
DASHETH
BATETH
QRLBTC
ANTETH
ZECUSDT
MCOETH
GNOBTC
EXCLBTC
REPETH
ADTETH
KOREBTC
BLOCKBTC
TUSDUSDT
SRNETH
PTOYETH
XZCBTC
BLKBTC
BCPTBTC
BSDBTC
DNTETH
PROETH
LUNETH
DGBETH
WAXETH
VIBETH
UPETH
TUSDETH
LRCETH
ENGETH
GUPETH
MANAETH
VEEETH
TIXETH
SALTETH
DMTETH
BLTETH
PAYETH
UKGETH
GNOETH
RCNETH
NMRETH
FCTETH
BNTETH
NGCETH
ADXETH
NXTUSDT

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Description

When it was announced in September 27, 2017 that Kakao, Korea’s biggest messaging app developer was going into cryptocurrency exchange, many knew instantly that it will be in a massive manner. The fact that Kakao decided to go for an exclusive partnership with American exchange Bittrex meant that they wanted it to be as big as their different internet businesses and the deal has so far proven to be a huge success.

Few months after it was launched, Upbit has become Korea’s largest cryptocurrency exchange. Currently, there are over 120 cryptocurrencies listed on the platform for trading. In addition to this, the company supports the local currency, South Korean Won (KRW). It is literally in control of the Korean cryptocurrency market. It is only open to Koreans, however, and ID verification is required for transactions to be completed.

How it works

Upbit allows for trading of up to 120 digital currencies. Users can access the site from any standard web browser in a desktop computer. It is also available for Android devices and iOS. The platform is very dependable, offering systematic security and 24 hour monitoring system. The interface is relatively friendly and easy to use. The website is in Korea, but there is a translation feature to help assess information in English.

The major advantages of Upbit

Asides from the fact that Upbit has an incredible resources, it adopted some smart business approach that has placed it ahead of competitions. These are the major features that makes the platform unique:

Competitive fees

Upbit started with a competitive pricing structure, charging market takers and market makers 0.25% per trade. This is just about what others in the market charge. Fees on withdrawals are also not high.

No deposit fees

Unlike some other platforms, Upbit does not charge any fee on deposit. Irrespective of the method of deposit, there is no transactional cost attached to it.

Direct bank transfer

Upbit has also made it easy for customers to transact with their bank accounts. It accepts fiat currency deposit in KRW once a Korean bank account is registered with the exchange.

Coins availability

Thanks to the partnership with Bittrex and Upbit’s uncommon ambition, there are well over 200 pairs available for trading on the platform. All the pairs, except the once in South Korea Won, are provided through Bittrex. The most traded pairs at the moment include BTC/KRW, ADA/KRW, and SNT/KRW.

Large trading volume

Upbit launched in a big way and it was expected that they will have a big stake in the Korean market. It immediately positioned itself as number one the day it was listed on CoinMarket Cap. This shows profound liquidity on the traded pairs.

Downsides

There are hardly any downsides to Upbit except for the fact that it is basically for the Korean market. The issue of minimum order size is another downside to the platform. For individuals that want to get into trading, it can be a little risky to start trading with large amount.

With the Chinese government intervention in cryptocurrency activities, South Korea has become a really critical area in the industry. Upbit being the biggest exchange in the country is driving a critical aspect of the economy and is doing it in a smooth and innovative manner.

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