Upbit vs Bithumb: Fees, Coins, Safety Comparison
| Feature | Upbit | Bithumb |
|---|---|---|
Overall |
3.0 |
4.0 |
1 |
4.0 |
|
3.9 |
3.9 |
|
3.5 |
4.2 |
|
Investment Instruments |
1 |
4.3 |
Platforms and Charting Tools |
4.1 |
4.2 |
Deposit and Withdrawal |
3.8 |
3.8 |
Research |
4.0 |
3.9 |
Education |
3.6 |
3.8 |
Support |
3.7 |
4.0 |
Bonuses |
1 |
4.1 |
|
Your capital is at risk.
|
Upbit vs Bithumb: Pros and Cons
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.
Bithumb is a cryptocurrency exchange and trading platform. Only the Korean won is represented among the broker’s fiat currencies. In addition to making money on the crypto exchange, users can receive passive income using deposit programs. There is also the possibility of automatic trading through a custom bot. Major cryptocurrencies are traded on the exchange, including Bitcoin, Ethereum, Ripple, EOS, DASH, Zcash, Monero, etc. Deposits and withdrawals of funds are possible through credit cards and crypto-wallets. The personal data protection system is assessed as progressive and there is an extended AML verification. The platform has its proprietary trading terminal, which has two versions — web and mobile (in Android and iOS). Only a cold storage (not connected to the internet) method for holding cryptocurrencies is presented.
| Upbit | Bithumb | |
|---|---|---|
| Overall Pros | the intuitive interface of the author's trading terminal; | all major cryptocurrencies are at your disposal; |
| all the primary functions for buying and selling are presented; | fees are below average for the segment; | |
| mobile trading with a built-in risk assessment system; | high trading volumes equal high liquidity; | |
| the most renowned cryptocurrencies are traded on this exchange, there are pairs with fiat; | well-thought-out investment portfolios; | |
| two-level authentication means top-tier security; | top-notch support service; | |
| up-to-date analytics on cryptocurrency market trends; | the user-friendly interface. | |
| there is no evidence of fraud or unresolved conflicts. | ||
| Overall Cons | the exchange is focused on traders from the Asian region; | only a few dozen cryptocurrencies and tokens are presented; |
| only the Singapore dollar is represented by fiat funds; | no fiat funds except the Korean won; | |
| there are no investment, partnership, or training programs. | no referral program. |
Upbit vs Bithumb: Safety and Regulation
| Regulated By: | Upbit | Bithumb |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
Financial Intelligence Unit (FIU) |
Upbit vs Bithumb: Trading Conditions
| Trading Conditions | Upbit | Bithumb |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
Upbit |
Bithumb |
Max Leverage (Futures) |
44562 |
44562 |
Number of Markets |
182+ |
32+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Bank cards and accounts, electronic and cryptocurrency wallets |
Cryptocurrencies, Korean won |
Upbit vs Bithumb: Fees
Trading Fees
| Fee | Upbit | Bithumb |
|---|---|---|
Max Maker |
0 |
0.25% |
Max Taker |
0.15% |
0.25% |
Min Maker |
0 |
0.04% |
Min Taker |
0.15% |
0.04% |
Debit/Credit Card Purchase Fee |
Not supported |
0 |
Futures Trading fees
| Fee | Upbit | Bithumb |
|---|---|---|
Max Maker |
Not supported |
0.25% |
Max Taker |
Not supported |
0.25% |
Min Maker |
Not supported |
0.04% |
Min Taker |
Not supported |
0.04% |
Non-Trading Fees
| Fee | Upbit | Bithumb |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not supported |
Not supported |
Debit/Credit Card Withdrawal Fee |
Not supported |
Not supported |
BTC Withdrawal Fee |
0.0009 BTC |
0.001BTC |
Inactivity Fee |
No |
No |
Upbit vs Bithumb: Trading Assets
| Asset Name | Upbit | Bithumb |
|---|---|---|
Overall |
182+ |
193+ |
Bitcoin (BTC) |
No |
Yes |
Litecoin (LTC) |
No |
No |
Dogecoin (DOGE) |
No |
Yes |
Binance Coin (BNB) |
No |
Yes |
Uniswap (UNI) |
No |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
No |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
Upbit or Bithumb: Investment Programs
| Asset Name | Upbit | Bithumb |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
Automatic Trading |
Trading Platforms: Bithumb or Upbit
| Upbit | Bithumb | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Bithumb or Upbit
| Upbit | Bithumb | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Bithumb or Upbit
| Upbit | Bithumb | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Bithumb or Upbit
| Upbit | Bithumb | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Bithumb or Upbit
| Upbit | Bithumb | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
No |
Yes |
Stop Loss |
No |
No |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
Upbit vs Bithumb: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Upbit | Bithumb |
|---|---|---|
Bank Transfer |
Yes (Only Deposit) |
Yes (Only Deposit) |
Credit/Debit Card |
No |
Yes (Only Deposit) |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
Upbit vs Bithumb: Research
| Research Type | Upbit | Bithumb |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
Upbit vs Bithumb: Education
| Education Type | Upbit | Bithumb |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
No |
Webinars |
No |
No |
Bithumb vs Upbit: Support
| Support Features | Upbit | Bithumb |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
No |
No |
Other |
No |
No |
Upbit vs Bithumb: Crypto Bonuses and Promo
| Promo | Upbit | Bithumb |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
No |
30% from refferal's trading commission |
|
Your capital is at risk.
|
Top 5 Reviews on Bithumb
-
Comment
My experience with Bithumb regrettably fell short of expectations. The fee structure appeared disproportionately high, significantly diminishing potential gains. In light of these cons, I would cautiously advise against entrusting one's assets to Bithumb.
-
Comment
Found a better exchange. Bithumb immediately attracted me, but then I realized that they were weak in terms of conditions. There are better markets. Also, there were problems with the service, then a freeze, then a delay, all this affects the quality of trading, so I decided to find a better company. And found! I wish everyone to find the perfect crypto exchange for their needs.
-
Comment
Whoever has funds on the Bithumb crypto exchange, withdraw them to another exchange and quickly, otherwise there is a risk that your account may be blocked, like me. And most importantly, they blocked it for an incomprehensible and non-specific reason. They say that for security reasons, they promise that after checking the account, they will unblock it. They've been checking for over 3 weeks now! And there, by the way, they have my 550 dollars left!
-
Comment
I tried trading with Bithumb Global purely out of interest, after all, the exchange is more for the Asian market, and I thought that the conditions might be different. I won’t say that there is a difference between Bithumb Global and other exchanges with which I have collaborated, but I have received positive impressions from Bithumb Global. In terms of functionality, everything is familiar, but the conditions on the exchange are very favorable. For example, a fixed commission, liquidity is extremely high when trading basic cryptocurrencies, deposit programs at Bithumb Global are not bad. Of the nuances, I note that there are no fiat currencies here. More precisely, there is, but only the Korean won. And there are not many assets in Bithumb Global, a couple of dozen. I do not recommend the exchange for scalping.
-
Comment
I signed up on Bithumb in 2019 and since then I exchange Bitcoin and Ripple here from time to time. The interface of the trading terminal is so simple that even a beginner can figure it out. I can recommend this crypto exchange to novice traders since there is no minimum deposit and the trading commission is fixed. There are no educational articles or videos on the Bithumb website, so you will have to delve into the nuances of crypto trading with the help of other resources. However, the terms of trade are very favorable.
Top 5 Reviews on Upbit
-
Comment
I am sure that you need to choose a cryptocurrency exchange yourself because everyone has their own goals. Before getting on Upbit, I tried a bunch of other trading platforms, but this one was perfect for me. Verification is simple, there is no minimum deposit on the site, and the terminal interface is classic, so you can deal with all the nuances even without the help of the support team. The mobile application is also convenient, I use it for trading when I go on business trips.
-
Comment
A cryptocurrency exchange is a place to trade and exchange digital currencies. Usually, there are investment programs, specialized software for mining, and affiliate programs that lure beginners. I simply do not need these gadgets, so I am 100% satisfied with the conditions at Upbit. This crypto exchange provides everything you need for simple and comfortable trading in Bitcoins, Ether, etc. The only pity is that communication with managers is organized exclusively through tickets. I don’t understand why such a progressive platform does not take care of its call center.
-
Comment
I expected more from this company, I was almost sure that everything is ok here. But I was wrong, the hole, like many in the crypto market, there is just a lot of pathos. There is no desire to disassemble in detail all the jambs that I have noticed, I can only say that it is not worth it.
-
Comment
I am ready to give Upbit the highest rating because there is no take profit, stop loss, or leverage for margin trading here. The exchange offers interesting conditions for professionals. The author's terminal has an intuitive interface and is equipped with all the necessary functions for comfortable trading. Commissions have already been calculated within the transaction (and it should be noted that exchange fees here are fixed for all assets). With the withdrawal of profit, everything is clear. Upbit does not fail.
-
Comment
Well, I'm not among the top supporters of the Upbit exchange. There are several drawbacks such as its narrow focus on the Asian market and its lack of comfortable trading conditions for newcomers — and these are only a part of its disadvantages. However, in fairness, it should be noted that there are also many advantages. First, it has an adequate commission policy. Exchange fees are fixed for major cryptocurrencies at 0.2%. The terminal works as transparently as possible and provides news, charts with indicators, analytics, etc. Trading is comfortable veteran traders. And it is also worth noting that there are generally no distracting frills that are not necessary for active traders such as mining and investment programs. This suits me just fine.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.