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Upbit

Crypto Exchange

Centralized

Upbit is a crypto exchange established in 2017 in South Korea.

Upbit

Overview

What is

Upbit

Upbit is a crypto exchange established in 2017 in South Korea. There are 176 coins and 288 trading pairs available on the exchange Upbit

Upbit

fees

Taker fee =
0.15%
Maker fee =
0.00%

Upbit

supported currencies

176 Coins - 288 Pairs

Website
Upbit
Twitter
@upbitglobal
Available in the US?
No
Year founded
2017
Accepted payment forms for
Upbit
Bank Transfer

Pros

  • Upbit provides over 200 different crypto assets and 150 different trading pairings across 200 different markets.
  • It includes a mobile app for iOS and Android, as well as a trading platform on the Upbit exchange website.
  • It features a strong security mechanism that is backed by Kakao, Korea's largest Fintech company.
  • The buying and sale of digital assets are simple and straightforward.
  • Upbit is supported by Bittrex, one of the top cryptocurrency exchanges in the United States.
  • It has a number of security features, including fund passwords, two-factor authentication, and verification.
  • It also provides quick and prompt client service.
  • It features a modest trading fee structure. Furthermore, there are no deposit or withdrawal fees.

Cons

  • It only accepts six fiat currencies.
  • Due to regulatory difficulties, it is not available to US traders.
  • There are just two trading alternatives on the exchange: fiat-to-crypto and crypto-to-crypto.
  • The exchange has a complex and lengthy verification method, making it tough for traders from all over the world to use it.

Features

  • There are many different currencies and currency pairs to choose from.
  • High-level wallet protection
  • Lock screen
  • Real-time notification
  • Trends and market data
  • Fast and stable trading with a financial institution-grade system
  • High security

Upbit

Review

What is Upbit?

Founded in 2017, Upbit is a cryptocurrency exchange that offers a fiat-to-crypto and crypto-to-crypto trading platform featuring Limit Order, Market Order, and Stop-Limit order types. It covers more than 200 digital assets, trading pairs, and marketplaces in both Korean and English.

This exchange charges a fixed 0.25 percent trading fee. As a result, Upbit does not distinguish between takers and makers. This trading cost approach may be appealing to investors who prefer to pick up existing orders from the order book.

In terms of trading fees, 0.25 percent is in line with past industry averages. For a long period, the global industry average has been in the 0.25 percent range. However, when compared to its South Korean competitors (Bithumb, Coinone, Korbit, and Coinrail), Upbit's fees are on the higher side. The average taker charge is 0.139 percent, and the average maker fee is 0.11 percent on these exchanges.

For beginners, it has a thorough verification process. Upbit gives you the option of using a fund password. The verification step includes setting a fund password, which is a second password necessary for withdrawing funds. Finally, it includes two-factor authentication (two-factor authentication) for added protection. Users must, however, download a separate app and scan the UPbit QR code to set up 2FA. Furthermore, Upbit employs a firewall system and continuously checks security 24 hours a day, seven days a week.

In 2019, however, 11 attacks resulted in the theft of $283 million in cryptocurrencies. However, Upbit's parent business refunded the customer's money.

A thorough Frequently Asked Questions and trade guide is accessible on the Up bit exchange as the platform's principal customer support channel. Many queries are answered, as well as details on UPbit costs, restrictions, minimum orders, markets, and supported crypto assets. Aside from that, it offers email and phone numbers for communication. Traders can also communicate with the team using the KakaoTalk app. In addition, the squad is active on social media platforms such as Twitter, Facebook, and Instagram.

Year Founded: 
2017
Check out Upbit now
@upbitglobal

Upbit

FAQs

Is
Upbit
centralized or decentralized?

Upbit

is a

Centralized

Crypto Exchange

Is
Upbit
available in the US?

Yes,

Upbit

is available for users in the United States.

No,

Upbit

is not available for users in the United States.

How many cryptocurrencies does
Upbit
support?

Upbit

supports

176 Coins - 288 Pairs

How many collections does
Upbit
support?

Upbit

supports

176 Coins - 288 Pairs

Customer Reviews Of 

Upbit