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About Upbit

Upbit is one of South Korea's largest and most trusted cryptocurrency exchanges. Founded in 2017 by Dunamu Inc., Upbit has a strong presence particularly in the Asian market. The exchange is licensed by Korea's Financial Intelligence Unit (FIU) and subject to strict regulations.

Country and Headquarters

Upbit is a cryptocurrency exchange headquartered in Seoul, South Korea. Operated by Dunamu Inc., the exchange has a large user base particularly in Korea and surrounding Asian countries. It also has operations in countries like Singapore and Thailand.

Service Scope

Upbit supports more than 200 cryptocurrencies and offers users spot trading, fiat on-ramp (KRW, USD, BTC, USDT pairs), API trading, and mobile app support. It is particularly known for its high liquidity in Korean Won (KRW) pairs. Additionally, Upbit offers easy fiat deposits/withdrawals thanks to integration with Korean banks.

User Statistics

Upbit serves approximately 80% of cryptocurrency users in South Korea, making it the market leader. The platform's daily trading volume averages around $2-5 billion. It is one of the exchanges offering the highest liquidity in Korean Won (KRW) pairs worldwide.

Key Features

High liquidity in Korean Won (KRW) pairs
Fiat deposits/withdrawals integrated with Korean banks
Strong security measures and regulatory compliance
User-friendly interface and advanced trading tools
Comprehensive cryptocurrency options (200+ coins)
24/7 customer support (Korean and English)
High transaction speed and low latency
Crypto-to-crypto and fiat-to-crypto trading
Detailed market analysis tools and charts
Mobile app (iOS and Android)

Regulation and Security

Upbit is regulated and supervised by South Korea's Financial Services Commission (FSC) and Financial Intelligence Unit (FIU). More than 95% of user funds are stored in cold wallets. It also has ISMS (Information Security Management System) certification and undergoes regular audits. User authentication (KYC) is mandatory and multi-layered security measures are implemented.

Fee Structure

Upbit uses a maker-taker fee model. For KRW pairs, the maker fee is 0.05% and the taker fee is 0.05%. For BTC and USDT pairs, the maker fee is 0.10% and the taker fee is 0.10%. There are no fees for fiat deposits, while small fees varying by bank apply to withdrawal transactions.

Advantages and Differences

South Korea's most trusted and compliant exchange
Direct integration advantage with Korean banks
World leader in Korean Won (KRW) liquidity
Early access to local Korean projects
Gateway to the Korean crypto market
High security standards and insured assets
Multilingual support in Korean and English