Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Pros & Cons
- the intuitive interface of the author's trading terminal;
- all the primary functions for buying and selling are presented;
- mobile trading with a built-in risk assessment system;
- the most renowned cryptocurrencies are traded on this exchange, there are pairs with fiat;
- two-level authentication means top-tier security;
- up-to-date analytics on cryptocurrency market trends;
- there is no evidence of fraud or unresolved conflicts.
- the exchange is focused on traders from the Asian region;
- only the Singapore dollar is represented by fiat funds;
- there are no investment, partnership, or training programs.
The Upbit crypto exchange is a premier trading and exchange platform that was launched in South Korea on 24 October 2017, under the assistance of their partnership with the American cryptocurrency exchange Bittrex. It allows you to exchange and trade Bitcoin, Ethereum, Litecoin, Tether, Ripple, and other renowned cryptocurrencies. Unfortunately, only the Singapore dollar (SGD) is represented as fiat money here. The exchange operates legally, is licensed, has a huge trading volume, and dynamic growth of economic indicators. The platform does not offer investment and partnership programs because the functionality of the trading terminal is completely set for exchange and trade. On top of the web version, there is a mobile application for iOS and Android devices. Another significant advantage is low fixed commission charges for trading operations.
TU Expert Verdict
Upbit demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Crypto Exchanges Traders Prefer
Upbit User Reviews
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5-star
4%
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4-star
17%
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3-star
70%
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2-star
9%
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1-star
0%
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Upbit Commissions and Fees
Score:This category evaluates trading costs and the transparency of deposit and withdrawal charges according to the Methodology. It covers spot and futures trading fees, P2P exchange costs, deposit/withdrawal fees, and tiered fee structures. The assessment ensures that fees are competitive and clearly disclosed, avoiding hidden or excessive costs. Each factor is scored based on defined criteria, contributing to the overall rating.3.4 /10Upbit received a 3.4/10 score for its commission structure, indicating that its fees are higher than the market average based on an evaluation of over 100 cryptocurrency exchanges.
- No deposit fee
- Spot fee above industry average
What are Upbit trading fees?
We analyzed Upbit’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Upbit trading fees vs competitors
Upbit Nexus Trade CoinMetro Industry average Based on the evaluation of over 100 leading crypto exchanges Spot, maker fee (%) Maker fees are charged when liquidity is added to the order book. This occurs by placing a limit order below the current market price for buy orders, or above the market price for sell orders. 0.2 0.22 0.1 0.15 Spot, taker fee (%) Taker fees are charged when liquidity is removed from the order book. This typically happens when a trade is executed at the market price. 0.2 0.22 0.2 0.194 What are Upbit deposit and withdrawal fees?
Deposit fee, % Important! Even if an exchange does not charge fees for deposits and withdrawals, there can also be fees from the payment system or cryptocurrency network used by the user. For example, the network fee for USDT TRC20 is typically around $1. 0 Withdrawal fee, % 0.0005 BTC 0.01 ETH Does Upbit offer P2P trading?
Yes, Upbit offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.Upbit P2P Fees Upbit MaiCoin MAX BTSE P2P maker fee (%) 0,05 0,1 0,01 P2P taker fee (%) 0 0,15 0,05 -
Regulation and Safety
Score:Our evaluation encompasses several key factors, including government regulation, two-factor authentication (2FA), cold wallet storage of client assets, investor protection funds, KYC protocol adherence, year of foundation, and history of security breaches. Read more in our Methodology9 /10Upbit has earned a rating of 9/10, demonstrating strong security and regulatory compliance. This score suggests that the exchange is generally reliable and offers a solid level of protection for users.
- Cold wallet storage
- 2FA
- Government-regulated
- Tier-1 regulation
- Not U.S regulated
- No facial recognition
- Successful hacks history
We also compared Upbit against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
Upbit Security Factors Upbit OKX Coinbase Tier-1 regulation YesNoYesGovernment-regulated YesYesYesInvestor protection fund Provides compensation to users in case of financial loss due to unforeseen circumstances on the platform. NoYesYes2FA YesYesYesFacial recognition NoYesNoCold wallet storage The majority of user funds are held offline, reducing vulnerability to online attacks. YesYesYesSuccessful hacker attacks We review publicly available information on past security breaches to assess the exchange's security track record. YesNoYesIs Upbit a regulated crypto exchange? Regulation is crucial for the security and legitimacy of a cryptocurrency exchange. We assess the exchange’s regulatory status and its impact on platform reliability.
Upbit is regulated by a Tier-1 financial authority (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or another jurisdictions with strict financial oversight). This ensures strong investor protection, compliance with stringent operational standards, and enhanced security for users trading on the platform.
Is verification (KYC) mandatory at Upbit?
Yes, KYC verification is mandatory at Upbit. You will need to complete the verification process before you can open an account and access the platform's full range of services.
Is Upbit available in the USA?
Upbit is not available in the USA due to regulatory restrictions. In some cases, access might differ by state, so we recommend confirming details with the platform’s support or checking the official website for the latest updates.
You may also consider the top 3 exchanges that are available in the USA and rank highly based on our methodology: OKX, Coinbase, Crypto.com .
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Deposit and Withdrawal
Score:We evaluated the deposit and withdrawal experience, considering several key factors such as the range of available methods, transaction processing speed, minimum deposit requirements, and associated fees. Read more in our Methodology.6.5 /10Upbit received a 6.5/10 rating for its deposit and withdrawal services. While Upbit covers basic payment options, the platform lacks some widely used methods that could improve user flexibility.
- P2P for flexible transfers
- Many cryptocurrencies for deposits and withdrawals
- Bank transfers for deposits and withdrawals
- No deposit fees
- No Google Pay option
- Withdrawal fee applies
- No PayPal option
Deposit and withdrawal options
Upbit supports the following deposit and withdrawal options: Bank transfers, Bank card, Crypto.
Upbit Deposit and withdrawal options vs competitors
Upbit OKX Coinbase Bank transfers YesNoYesBank card YesYesYesCrypto YesYesYesPayPal NoNoYesWhat is Upbit minimum deposit?
The minimum deposit at Upbit is 100 USD/USDT or 0 BTC. The minimum trade size is 10 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Upbit minimum deposit vs competitors
Upbit OKX Coinbase Minimum deposit, USD or USDT 100 10 10 Minimum deposit, BTC 0 5 1 Minimum trade amount, USD/USDT 10 1 2 Does Upbit support fiat money?
Upbit supports fiat currency trading and account funding. The following fiat currencies are accepted: USD.
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Supported Coins & Markets
Score:Evaluates the range of available cryptocurrencies, fiat currencies, and markets, as well as investment tools like staking, farming, and other yield options. Read more in the Methodology section.3.5 /10Upbit received a score of 3.5/10 in this category, indicating a modest offering of assets and markets. While Upbit covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Staking available
- Fiat currencies supported
- NFTs available
- Crypto futures not available
- Only 198 supported coins
Upbit supported coins and markets vs competitors
We compared Upbit with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
Upbit OKX Coinbase Supported coins 198 600+ 400+ Futures/Perpetual contracts NoYesYesOptions NoYesNoNFTs YesYesYesTokenized Assets Digital tokens representing real-world assets, such as stocks, bonds, commodities, or real estate. NoYesYesTradFi Perps Perpetual futures contracts linked to traditional financial assets, such as stocks, indices, or commodities. NoYesYesPrediction Markets Markets where users trade contracts based on the outcomes of future events. NoNoNoOther Assets NoNoPre-IPO Upbit passive income options vs competitors
We also compared Upbit with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
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Trading Apps & Tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn more in our Methodology.6.5 /10Upbit received a score of 6.5/10 for offering a solid set of tools. The apps are intuitive and reliable, though certain advanced features remain limited or could benefit from further development.
- Mobile indicators allowed
- Advanced tools and automation with API
- App data protection with 2FA
- No access to Copy Trading
- Android App score below 4 points
Trading apps
Upbit provides web and mobile apps for both Android and iOS users, with an average rating of 3.7 on the App Store and 3.2 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Upbit platform is for mobile use.
Upbit OKX Coinbase 2FA YesYesYesFace ID NoYesNoMob Indicators YesYesYesAlerts YesYesYesAdvanced Orders These are specialized trading features that give users more precise control over how trades are executed. Examples include Stop-Limit, Trailing Stop, and OCO (One Cancels the Other). These tools may only be available on the web version of the platform. YesYesYesTrading with bots NoYesNoAPI YesYesYesExtra trading platforms These refer to third-party platforms supported by the crypto exchange in addition to its own proprietary system. NoNoNoDoes Upbit offer a desktop app?
No, Upbit does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.
Does Upbit offer advanced charting with TradingView integration?
No, Upbit does not currently support TradingView integration. However, it provides its own built-in charting tools with basic indicators and timeframes.
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Customer Support
Score:We evaluated Customer Support at Upbit based on the availability of live chat, email, phone support, ticket systems, help center resources, 24/7 assistance, multilingual support, and response time. Our assessment focuses on support accessibility and responsiveness. Learn the assessment criteria5.5 /10Upbit offers a moderate level of customer support, covering basic communication channels and assistance options.
In TU testing, the exchange showed mixed results in support accessibility and responsiveness. Certain limitations in contact options, availability, or support resources may make it less convenient for users requiring immediate assistance.
- 24/7 customer support available
- Support ticket system available
- Comprehensive help center available
- Limited language support
- Live chat support unavailable
Upbit Support Channels vs Competitors
Upbit OKX Coinbase Live Chat NoNoYesEmail Support NoNoNoPhone Support NoNoNoTicket System YesYesYes24/7 Support YesYesYesHelp Center / FAQ YesYesYesMultilingual Support NoNoYesContacts Foundation date 2017 Registration address 2nd Floor, 14 Mirim Tower, Tehran-ro 4-gil, Gangnam-Gu, Seoul Official site https://upbit.com/ Contacts 1588-5682
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FAQs
How safe and regulated is the Upbit cryptocurrency exchange?
Upbit has a safety score of 9/10, reflecting strong security measures and Tier-1 government regulation. The exchange uses 2FA and cold wallet storage, but it has a history of successful hacker attacks and does not offer an investor protection fund.
What deposit and withdrawal options are available on Upbit?
Upbit supports deposits and withdrawals via bank transfers, bank cards, and cryptocurrencies, and it does not charge deposit fees. A withdrawal fee applies, and popular payment services such as PayPal and Google Pay are not available.
What do user reviews and feedback say about Upbit’s overall experience?
Upbit has a user satisfaction score of 6.3/10 based on 22 reviews, indicating a mixed overall impression. According to user reviews, most ratings are in the mid-range, with 70% of users giving 3 stars, while very few users leave either very high or very low ratings.
Which coins and markets can you access on Upbit?
Upbit offers 198 supported coins and provides access to NFTs and staking, along with USD fiat trading, deposits, and withdrawals. The exchange does not support futures, perpetual contracts, options, tokenized assets, TradFi perpetuals, prediction markets, yield farming, or copy trading.
What kind of customer support does Upbit provide?
Upbit has a customer support score of 5.5/10 and offers assistance through a ticket system, a help center/FAQ, and 24/7 support availability. The exchange does not provide live chat, email, phone, or multilingual support, which may limit convenience for some users.
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The focus on the Asian market imposes limitations, but the reliability of the platform and strict regulatory requirements increase trust. The interface is really intuitive, although the lack of chat and voice support makes interaction less convenient.
Ориентация на азиатский рынок накладывает ограничения, но надёжность платформы и строгие требования регулятора повышают доверие. Интерфейс действительно интуитивен, хотя отсутствие чата и голосовой поддержки делает взаимодействие менее удобным.