Upbit review

Upbit supported cryptocurrencies

Upbit offers an impressive lineup of 226 different cryptocurrencies, from well-known giants like Bitcoin and Ethereum to a diverse array of intriguing altcoins. With 423 trading pairs available, you have a wealth of opportunities to explore and trade.

Upbit supported fiat

Upbit makes it easy for everyone by supporting a variety of fiat currencies like KRW. This means you can deposit and withdraw funds in your local currency without any hassle.

Upbit deposit and withdrawal methods

Upbit offers convenient deposit and withdrawal options, primarily through bank transfers with support for the South Korean Won (KRW) as the main fiat currency. Users can also manage cryptocurrency transactions, with fees that vary depending on the specific digital asset. For example, Bitcoin withdrawals have a fee of 0.0005 BTC, making it straightforward for crypto enthusiasts. While credit card deposits are not available, Upbit provides a secure experience through its KYC verification process, which includes multiple levels to unlock additional features and higher transaction limits.

Upbit loans

Upbit currently does not provide loan products. The platform is dedicated to cryptocurrency trading and related services, keeping its focus on delivering a seamless trading experience.

Upbit restricted countries

Upbit services are not available in high-risk countries identified by FATF and the United Nations, as well as in the United States due to regulatory requirements. The platform focuses on providing secure and compliant services in the regions it supports.

Is it possible to use leverage or margin trading on Upbit?

Upbit does not offer leveraged or margin trading. The platform is designed for spot trading, making it a simple and reliable choice for users who prefer direct ownership of cryptocurrencies.

Upbit Spot Trading

Upbit focuses on spot trading, providing a platform to buy and sell over 150 cryptocurrencies across 41 markets. It supports essential order types like limit and market orders but does not include margin trading or advanced options like stop-limit orders in all markets. With a strong emphasis on security and regulatory compliance, Upbit ensures a safe environment for users and serves markets in South Korea, Singapore, and Indonesia.

Upbit Earning Services

Upbit offers earning opportunities through staking, supporting assets such as Ethereum (ETH), Cosmos (ATOM), Cardano (ADA), and Solana (SOL). Reward rates vary depending on the asset, with ETH providing around 3.7% and ATOM offering approximately 21.9%. Rewards are distributed based on the schedule of each asset, and Upbit applies a 10% fee on distributed rewards, ensuring a seamless staking experience.

Upbit OTC Trading

Upbit does not currently offer Over-The-Counter (OTC) trading services. The platform is dedicated to spot trading, providing a straightforward and reliable way to trade cryptocurrencies.

Upbit Fees

Upbit applies a flat fee of 0.05% for both makers and takers in the KRW market, while BTC and USDT markets generally have a fee of 0.25%. Withdrawal fees depend on the specific cryptocurrency, with Bitcoin withdrawals set at 0.0005 BTC. It's a good idea to check the latest fee details directly on the Upbit platform, as they may change over time.