Upbit – Cryptocurrency Exchange Volume and Information

Upbit is a South Korean crypto exchange launched in October 2017. There is a large number of South Korean exchanges, as the country has been one of crypto’s strongholds since early on. In addition to this exchange, the list also includes (but is not limited to): Bithumb, Coinone, Korbit and Gopax.

There is plenty of information on the exchange’s website on the company running the exchange. This is always nice to see for prospective customers as it makes it less likely that the exchange will just run off with your money.

This exchange also has a fantastic selection of trading pairs, offering trading in 158 different cryptos. Upbit also has a mobile app. You can download the mobile app on both App Store and Google Play. Most traders do their crypto trading on desktop, but if you prefer to do it via mobile, that’s no problem with Upbit.

Upbit, the Most Trusted Crypto-Asset Exchange. Upbit Singapore is powered by Upbit, the global top exchange with world-class blockchain technology, regulatory expertise and operational know-how. FinTech Expert with the Proven Record. Upbit provides financial-institution grade of security and user-friendly service from years of experience operating stock trading system in massive scale.

Trade Wide-Variety of Crypto-Assets, with Confidence. We support the trade of more than 150 crypto-assets. Trade the latest Crypto-Assets from our partner, Bittrex, the premier US-based exchange. 24/7 real-time security monitoring and firewall system for enhanced security.

Despite only launching in October 2017, by January 2018 UPbit was already the biggest cryptocurrency exchange in South Korea by average daily trading volumes. Without discounting the level of success represented by the rapid traction UPbit has achieved, the exchange does have some very serious backing. UPbit’s founder, Song Chi-Hyung, is one of South Korea’s richest men. Chi-Hyung’s company Dunamu, which is the holding company behind UPbit, started out in 2012 as an online news aggregator but quickly moved into Fintech, where it has had real success.

The only Fiat currency that UPbit currently supports is the South Korean Won, in which deposits can be made in and out of from South Korean bank accounts. As a result of the partnership with Bittrex, UPbit offers a very wide range of cryptocurrency coins and token, with over 100 listed. Almost all of the top 100 cryptocurrencies by market cap are available, as well as some outside of that.

Fees

UPbit does not charge any fees on deposits and while withdrawal fees vary depending on the cryptocurrencies being withdrawn, or in Won to a bank account, they are not high. Trading fees are roughly in line with most South Korean exchanges and are set at 0.25% for both takers and makers. It’s not the cheapest exchange to trade on internationally but South Korean exchanges generally aren’t and fees are in line with the local context.

Security and Fairness

As might be imagined for a cryptocurrency exchange backed by one of South Korea’s real internet and Fintech giants in Kakao, cyber security levels protecting UPbit traders are significant. Wallets are secured by BitGo, widely recognized as the global standard in multi-signature wallets and favored by many of the leading cryptocurrency exchanges internationally. Account security is in partnership with Kakao Pay, the mobile payments app owned by partner Kakao Corp., and a leader on the South Korean market, second only to Samsung Pay. It’s safe to say the Upbit’s cybersecurity standards are hard to beat.