Established in 2017 in South Korea, Upbit is a cryptocurrency exchange that was built on the strong foundation of world-class blockchain technology, regulatory expertise, and operational know-how. They offer over 150 digital assets, including Bitcoin, Ethereum, Litecoin, Tether, Ripple, and more. The Exchange offers a selection of trading and learning resources and also provides a client support team to assist them. Traders benefit from various favourable trading conditions, such as low commission fees, a minimum deposit of just $1, and more.
Upbit Review Introduction
In this Upbit review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers including Upbit.
Upbit Platforms & Tools
Upbit provides a proprietary trading platform that is developed for trading several cryptocurrencies without stress. It offers fast and stable trading, with 24/7 market monitoring and real-time custom notification. The platform has powerful charts, and also features some interesting tools, including a dual wallet security system powered by BitGo. The Exchange presents the Upbit trading platform in the following versions: a desktop application for Windows and Mac computers; a web version that runs directly on most modern web browsers, such as Chrome, Safari, Firefox, and Edge; and a mobile app that is designed for Android and iOS devices. The mobile app can be freely downloaded from the relevant app stores and used to place trades and check trading positions while on the go, as long as there is an internet connection.
Traders are provided with a variety of useful trading tools to make the trading process a lot more effective. They include real-time trends, market data, charts, analysis reports, and more.
Upbit Research & Education
Traders are provided with a selection of educational resources to enhance their trading knowledge and also keep them in the know on the factors that move the financial markets. These include crypto articles, press releases, news, and an FAQ section that answers the most common questions that traders have.
Upbit Trading Accounts
Upbit offers only one crypto trading account options. The account has a minimum deposit requirement of just $1 and low commission fees of 0.25%.
Upbit Account Funding
Bank transfer is the only accepted payment method for both account deposits and withdrawals.
Upbit Customer Service
The Exchange provides traders with a professional client support team to respond to their general, technical, and account-related inquiries. The support team can be contacted via telephone, email, and KakaoTalk, which is a popular messaging app owned by Kakao.
Upbit ensures optimum security of clients’ funds by storing them in multi-signature wallets powered by BitGo. However, there is no regulatory information on the Exchange’s website at the moment, which could pose a red flag to most potential traders and investors.
Upbit Review Summary
Generally, Upbit is a digital asset exchange that is based in Seoul, South Korea. They offer over 150 digital assets for trading via its in-house-developed trading platform that is available in the desktop, web, and mobile versions. The broker provides some trading and learning tools and offers various favourable trading conditions, such as low commission fees, a minimum deposit of just $1, and more. However, there is no regulatory information on the Exchange’s website at the moment. Lack of regulation is often a turn-off to most potential traders and investors who are looking to start trading with the Exchange.
It is worth mentioning that some of the trading products and services in this Upbit review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Upbit broker website which you can visit by using the link below.
The trading of virtual currencies involves significant risk. Price fluctuations can occur which may increase or decrease the value of your assets at any given moment. Any currency whether virtual or not may be subject to large swings in value and may even become worthless. You should not risk an amount you cannot afford to lose.