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Upbit

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South Korea

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2017 (8 Years)


Safe

3.11/5

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License

5.00

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Verification on TrustFinance

0.00

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Traffic & Engagement

4.33

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License

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License grade B image

SEC

Regulated

Regulated By: United States

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Company Information

Get to know Upbit

Upbit crypto exchange is one of the premier participants in the Asian and global crypto trading market. The platform provides a convenient trading terminal with the ability to exchange and trade major cryptocurrencies. Only the Singapore dollar is represented as fiat money, there are no investment, partnership, or training programs. The exchange operates stably and transparently and is licensed.

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HQ Location

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Review Analytic

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A

Sirajobgd3

Direct review

Excellent

Overall Thought

Upbit is a standout cryptocurrency exchange. Its user-friendly website provides an excellent trading experience, catering to both beginners and experts. The platform's extensive selection of cryptocurrencies ensures diverse investment opportunities. Security is a top priority, with advanced measures to protect user assets. Upbit's customer support is responsive and reliable, addressing any concerns promptly. It's clear that Upbit is committed to providing a safe and efficient trading environment. Whether you're new to crypto or a seasoned trader, Upbit's comprehensive features and commitment to security make it an excellent choice for all your cryptocurrency needs.

Aug 31, 2023
A

sirajobgd

Direct review

Excellent

Overall Thought

Upbit is a reputable cryptocurrency exchange that caters to both novice and advanced traders. Its intuitive interface simplifies the trading process, while robust charting tools appeal to professionals. Security is a priority with cold wallet storage and two-factor authentication. Upbit's extensive list of supported cryptocurrencies ensures ample options for trading and investing. Its commitment to regulatory compliance adds to its credibility. While some users may wish for more educational resources, Upbit's reliability, liquidity, and user-friendly platform make it a dependable choice in the crypto market.

Aug 31, 2023
A

Levi Jonathan

Direct review

Excellent

Overall Thought

I'm delighted to share my positive experience with Upbit. The platform's user-friendly interface, extensive range of cryptocurrencies, and robust security measures make it a standout choice for both beginners and experienced traders. The efficient customer support further enhances the overall experience. Upbit's commitment to staying current with market trends and continuously improving its services has earned my trust and recommendation.

Aug 29, 2023
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Reviews

| Total 42

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AI Review analysis

Let’s TrustFinance AI Summarize all the reviews for you.

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5 Star

93%

4 Star

2%

3 Star

2%

2 Star

0%

1 Star

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Direct review Dot icon23 Dec

Overall Thought

Average

Karma will definitely catch up with these scammers. After a tough experience with trading fraudsters, I took action and managed to get my money back without an upfront fee through the help of ( Cybertecx net ) If you've been a victim of a scam, don't hesitate to file a fraud complaint with them. You deserve justice!

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Direct review Dot icon23 Sep

Overall Thought

Bad

Thank you for taking out time to reach us and sorry for your lost, We regret to know you’ve experienced such an issue and hardship where you try and make some trade and option to do investment  trading and you end up running into loses with companies guilty of embezzling and depriving investors of their money and profits sadly that how the trading world is now it what it turned into but there a way out and that by you getting to recover all your lost funds back, your profits included and probably charge them with a lawsuit for Illegal Embezzlement of funds. All this can be done by contacting HARPER JAMES via:harperjamesplatform   @   g   mail   com

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h
Direct review Dot icon31 Aug

Overall Thought

Excellent

Upbit is a great cryptocurrency exchanger, they are doing great so far, they are fast, secure and reliable

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S
Direct review Dot icon31 Aug

Overall Thought

Excellent

Upbit is a standout cryptocurrency exchange. Its user-friendly website provides an excellent trading experience, catering to both beginners and experts. The platform's extensive selection of cryptocurrencies ensures diverse investment opportunities. Security is a top priority, with advanced measures to protect user assets. Upbit's customer support is responsive and reliable, addressing any concerns promptly. It's clear that Upbit is committed to providing a safe and efficient trading environment. Whether you're new to crypto or a seasoned trader, Upbit's comprehensive features and commitment to security make it an excellent choice for all your cryptocurrency needs.

Read more
u
Direct review Dot icon31 Aug

Overall Thought

Excellent

Upbit is a great app that has a lots of crazy features. App is very easy to access for even beginners and it makes trading really satisfying

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Summarization

Upbit Crypto Exchange Review: A Comprehensive Guide

Overview and General Information

Upbit, established in 2017 in South Korea, stands as the largest cryptocurrency exchange in the country, boasting substantial trading volume and a large customer base. Its prominence is underscored by its acquisition of significant security certifications, including ISMS-P and ISO/IEC, demonstrating a strong commitment to personal information and information security management. Further solidifying its regulatory compliance, Upbit adheres to Know Your Customer (KYC) procedures and anti-money laundering (AML) regulations.

Products and Services Offered by Upbit Crypto Exchange

Upbit offers a diverse range of products and services catering to various trading needs. Its core offering comprises robust spot markets, facilitating both crypto-to-crypto and fiat-to-crypto trading for individual and corporate clients. Beyond traditional trading, Upbit distinguishes itself by incorporating an NFT marketplace and Drops platform, tapping into the growing digital asset market. For those seeking passive income, Upbit provides staking services with competitive annual reward rates, potentially reaching up to 17%.

Enhancing the user experience, Upbit provides a user-friendly web platform and mobile applications designed for fast and secure trading. Furthermore, the exchange demonstrates a commitment to investor protection through its Upbit Care Centre, offering free counseling and educational resources on cryptocurrencies. This commitment to education and support sets it apart in the competitive landscape.

Product Features and Conditions

Several key features define the Upbit trading experience. Traders have access to over 300 trading pairs, providing significant diversity in investment options. The trading fee structure is consistent across all markets at 0.25%, although occasional discounts may be offered during promotional events. Minimum order amounts vary depending on the market: 0.5 SGD for fiat markets, 0.0005 BTC for BTC markets, and 0.0005 USDT for USDT markets. These specifications provide transparency and allow traders to plan their investments accordingly.

Contact Channels and Customer Support

While Upbit doesn't explicitly advertise direct contact methods like phone numbers or physical branch locations, it is known that they employ a dedicated AML team to monitor suspicious activities, signifying a commitment to regulatory compliance and security. Information regarding specific customer support hours and response times is currently unavailable.

Pros and Cons of Upbit Crypto Exchange

Pros

  • Robust Security Measures: Upbit prioritizes security, evidenced by its ISMS-P and ISO/IEC certifications.
  • User-Friendly Interface: Both the web platform and mobile apps are designed for ease of use and accessibility.
  • Extensive Trading Pairs: The availability of over 300 trading pairs caters to diverse trading strategies.
  • Competitive Staking Services: Staking options provide attractive annual reward rates.

Cons

  • Higher Trading Fees: Compared to some competitors within South Korea, Upbit's 0.25% trading fee might be considered on the higher side.
  • Limited Customer Support Information: Lack of readily available information on customer support channels and service hours presents a potential drawback.

Summary of Upbit Crypto Exchange Review

Who is it Best Suited For and Why?

Upbit is ideally suited for traders who place a high premium on security and appreciate a user-friendly trading environment. The combination of robust security measures and a wide selection of trading pairs makes it an attractive option for many. The intuitive interface also makes it accessible to both experienced and novice traders.

Final Thoughts on Value and Choosing the Company

Upbit delivers a comprehensive cryptocurrency exchange experience, excelling in security and ease of use. However, prospective users should carefully weigh the slightly elevated trading fees against the benefits offered. A thorough comparison with other exchanges operating in South Korea is recommended to ensure the platform aligns with individual trading preferences and budgetary considerations.

Frequently Asked Questions about Upbit Crypto Exchange

Is Upbit a Centralized Exchange (CEX)?

Yes, Upbit is a centralized cryptocurrency exchange (CEX).

Does Upbit Support Leverage or Margin Trading?

No, Upbit currently does not offer leverage or margin trading functionalities.

Key Takeaways:

  • Upbit is a large, secure, and user-friendly exchange based in South Korea.
  • It offers a wide variety of cryptocurrencies and trading pairs.
  • Trading fees are 0.25%, which is slightly higher than some competitors.
  • Customer support information is limited.
  • Upbit is best suited for users who prioritize security and a user-friendly interface.

References

[1] https://coinmarketcap.com/exchanges/upbit/

[2] https://www.cryptowisser.com/exchange/upbit/

[4] https://www.bitdegree.org/top-crypto-exchanges/upbit

[5] [Insert a relevant URL here for staking information. This is missing from the original prompt]

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