According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- Easy-to-use and convenient terminal, with news and analytics
- exchange is exclusively for trading, only Singapore dollar is presented as fiat money
Our Evaluation of Upbit
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Upbit is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.5 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Upbit clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Upbit crypto exchange is an international platform for exchanging and trading cryptocurrencies. Although the exchange is focused on Asia, traders from all over the world trade on it because of its low fees and humongous trading volumes. All major cryptocurrencies are represented and there’s a convenient mobile application with advanced functionality. The platform does not provide options for passive earnings, and there are no demo accounts or training programs. It’s suitable for experienced active traders only.
Brief Look at Upbit
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.
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- 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.
TU Expert Advice
Author, Financial Expert at Traders Union
Upbit offers a proprietary trading platform that supports multiple cryptocurrencies alongside KRW and SGD as fiat currencies. The platform is designed for experienced traders, featuring an intuitive interface and advanced mobile capabilities. Notably, Upbit provides low fixed fees for trading operations and strong security measures, including two-factor authentication and cold wallet storage for assets. These aspects, combined with a significant trading volume, make Upbit an appealing choice for active crypto traders focused solely on trading, without additional distractions like investment programs or leverage.
However, Upbit has drawbacks such as limited fiat currency support, withdrawal fees, and no passive income opportunities, which may not suit traders looking for diverse investment options or educational resources. The platform's focus on the Asian market further narrows its appeal. Additionally, client support is limited to tickets with no call center. Consequently, Upbit may be most suitable for experienced traders emphasizing security and straightforward trading but may not align with the needs of novice traders or those seeking comprehensive trading features and educational support.
Upbit Summary
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptos, SCG |
| 💵 Deposit / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Spot: 0,2%-0,2% |
| 🔧 Instruments: | 198 supported coins, Fiat, NFT. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Not indicated |
| ⭐ Trading features: | Easy-to-use and convenient terminal, with news and analytics; exchange is exclusively for trading, only Singapore dollar is presented as fiat money |
| 🎁 Contests and bonuses: | Not indicated |
The platform does not limit users on the minimum deposit to start trading. After registration and verification, you can store any cryptocurrency in any volume on your crypto wallet. There is no leverage for trading crypto-crypto and crypto-fiat pairs. Technical support works around the clock, but there is only one communication channel — through tickets.
The ticket service is activated by clicking on the "Contacts" button in the footer of the site. You can also visit the company's office at 1 Harbourfront Avenue # 16-02, Keppel Bay Tower, S098632. The office is open from 9:00 to 18:00 GMT + 8.
Upbit Key Parameters Evaluation
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Regulation and safety
Upbit 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.
- 2FA
- Government-regulated
- Cold wallet storage
- Tier-1 regulation
- Not U.S regulated
- Successful hacks history
- No facial recognition
Upbit Security Factors
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 | OKX | Kraken | |
| Tier-1 regulation | Yes | No | Yes |
| Government-regulated | Yes | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | Yes | No | No |
Is Upbit a regulated crypto exchange?
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.
Upbit is authorized or licensed in accordance with local regulations in the following regions: Singapore, .
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.
In which countries is Upbit available?
Upbit complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Ukraine, India, Spain, United Kingdom, Nigeria, Malaysia, South Africa, Australia, Canada, Pakistan, Philippines, Israel, Cyprus, Sweden, Latvia, Romania, Portugal, Switzerland, Netherlands, Kenya, UAE, Iran, Islamic republic, Turkey, France, Bangladesh, Italy, Egypt, Poland, Sri Lanka, Belgium, Norway, Saudi Arabia, Brazil, Vietnam, Czech Republic, Greece, Japan, Uganda, Ghana, Morocco, Finland, Bulgaria, China, Venezuela, Bahrain, Palestine, Jordan, Iraq, Qatar, Kuwait, Lebanon, Libyan Arab Jamahiriya, Oman, Syrian Arab Republic, Tunisia, Yemen, Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact Upbit support.
Is Upbit available in the USA?
Yes, Upbit is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
Upbit commissions and fees
Upbit received a 5.85/10 score for its trading fees. While Upbit is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- 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 | Paxful | Industry average | |
| Spot, maker fee (%) | 0,2 | 0,22 | 0 | 0.15 |
| Spot, taker fee (%) | 0,2 | 0,22 | 0 | 0.194 |
What are Upbit deposit and withdrawal fees?
| Deposit fee, % | 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
Deposit and withdrawal
Upbit 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
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- Bank transfers for deposits and withdrawals
- Withdrawal fee applies
- No PayPal option
- No Google Pay 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 | Kraken | |
| Bank transfers | Yes | No | Yes |
| Bank card | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What 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 | Kraken | |
| Minimum deposit, USD or USDT | 100 | 10 | 10 |
| Minimum deposit, BTC | 0 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 10 | 0,00001 | 1 |
Does Upbit support fiat money?
Upbit supports fiat currency trading and account funding. The following fiat currencies are accepted:
Supported coins & markets
Upbit received a score of 4/10 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.
- NFTs available
- Staking available
- Fiat currencies supported
- Only 198 supported coins
- Crypto options not available
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 | Kraken | |
| Supported coins | 198 | 329 | 278 |
| Futures/Perpetual contracts | No | Yes | Yes |
| Options | No | Yes | No |
| NFTs | Yes | Yes | Yes |
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.
Trading apps & tools
Upbit received a score of 6.45/10 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 trading bots for traders
- No Face ID
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 | Bybit | |
| 2FA | Yes | Yes |
| Face ID | No | Yes |
| Mob Indicators | Yes | Yes |
| Alerts | Yes | Yes |
| Advanced Orders | Yes | Yes |
| Trading with bots | No | Yes |
| API | Yes | Yes |
| Extra trading platforms | No | MT4 |
Does 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.
Contacts
| 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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