South Korea, a tech-savvy nation has now emerged as one of the leading countries after the arrival of the largest Korean crypto exchange, Upbit. There are other notable cryptocurrency exchanges that offer unique features and services to meet the diverse needs of traders.
In this blog, we will explore some of the top Korean crypto exchange, apart from Upbit such as Bithumb, Coinone, Korbit, and GOPAX that deserve your attention.
Upbit Exchange
Upbit is the largest Korean crypto exchange that has earned a reputation for its strong security measures and wide selection of cryptocurrencies. It has a trading volume and active user base of around 8.9 million. They also made investments in several blockchain startup projects.
Key Aspects of Upbit
Trading Tools: User-friendly interface with advanced charting tools, technical analysis indicators, and real-time market data.
Trading Options: Supports multiple trading options, including spot trading, margin trading, and decentralized trading.
Cryptocurrencies: Offers a vast selection of cryptocurrencies, typically listing over 200+ digital assets, and supports various order types and trading pairs.
Mobile App: Upbit offers a mobile application for iOS and Android devices, enabling users to trade cryptocurrencies on the go.
Trading Fees: Fixed at 0.25% for both market takers and makers, regardless of the trading volume or user status. Also, additional fees may apply for specific services or features, such as margin trading.
Security: Upbit prioritizes the security of user funds and employs stringent security measures. It utilizes two-factor authentication (2FA) and cold storage for enhanced protection.
Bithumb Exchange
Bithumb is the largest and most popular Korean crypto exchange Upbit. It was founded in 2013 and has an extensive selection of cryptocurrencies available for trading. They allow the withdrawal and deposit services for three cryptocurrencies such as XRP, EOS, and BCH. They are already operated in 10+ countries and will provide safe and reliable withdrawal and deposit services globally.
Key Aspect of Bithumb
Cryptocurrencies: Bithumb lists over 100 cryptocurrencies, providing users with a diverse selection of digital assets to trade. This includes major cryptocurrencies, popular altcoins, and emerging tokens.
User-Friendly Interface: Bithumb is suitable for all sorts of traders. The platform is made to be simple to use, making it possible for users to trade with ease.
Multiple Trading Options: Supports various trading options, including spot trading, margin trading, and futures trading.
High Liquidity: There is a significant volume of trading activity on the Bithumb. This ensures that users can buy and sell cryptocurrencies at competitive prices with minimal slippage.
Security Measures: Bithumb places a strong emphasis on security measures including 2FA, offline storage of cryptocurrencies, and regular security audits to identify and address any vulnerabilities.
Trading Fees: Per trade range from 0.15% to 0.25%, with lower fees for high trading volumes. The fee structure encourages higher trading activity and offers incentives for users who trade more frequently.
If you are an entrepreneur and you are planning to start a Korean crypto exchange in the near future, reading this blog will help you gain some insight into the Bithumb Clone Script.
Coinone Exchange
Coinone is a renowned Korean crypto exchange that offers trading services and innovative features. They were founded in 2014 and provide users with a safe and efficient platform to trade cryptocurrencies. In addition to South Korea, they concentrate on Southeast Asia, particularly Singapore, Hong Kong, and Indonesia.
Key Aspect of Coinone
User-Friendly Interface: Provides a clean layout, easy navigation, and quick order execution to enhance the overall trading experience for newcomers and experienced traders.
Cryptocurrencies: Offers a diverse selection of cryptocurrencies and trading pairs for trading.
Trading Option: Supports spot trading, allowing users to buy and sell cryptocurrencies at market prices. Also, it offers margin trading, enabling users to leverage their positions and potentially increase their trading opportunities and potential profits.
Copy Trading: Introduced an innovative “Copy Trading” feature that allows new users (beginners) to automatically replicate the trade strategies of successful traders on the platform.
Customer Support: Offers efficient and responsive customer support to address user queries and concerns. Users can reach out to them through live chat and email for the issue they face.
Trading Fees: The fees vary for crypto market makers and takers. It ranges from 0.10% to 0.20% per trade, with lower fees for higher trading volumes.
Security: The multi-signature wallet uses cold storage for cryptocurrencies and two-factor authentication to protect user accounts from unauthorized access. Prioritizes the security of user funds and implements strict security measures.
Korbit Exchange
Korbit, South Korea’s first Korean crypto exchange, was created in 2013. It offers a dependable and safe platform for exchanging a variety of cryptocurrencies. It is the first trading platform to achieve the highest rating for information security and AML during MSIT’s due diligence. They’ve also reintroduced Korean Win Deposit services and developed a relationship with Shinhan Bank.
Key Aspects of Korbit
User-Friendly Interface: Provides an organized layout, making it easy to navigate for all sorts of users and execute trades efficiently.
Cryptocurrencies: Offers a wide range of cryptocurrencies for trading, typically featuring more than 30 different digital assets. These include major cryptocurrencies, popular altcoins, and crypto tokens.
Trading Tools: Offers advanced trading tools including real-time market data, charting capabilities, and order types such as market orders and limit orders, enabling users to execute trades according to their preferred strategies.
Trading Fees: Charges from 0.1% to 0.25% per trade and also charges lower fees for higher trading volumes.
Mobile App: Korbit provides a mobile application for iOS and Android devices, and offers a seamless and convenient trading experience.
Security: Implements industry-standard security measures, including cold storage for the majority of user funds and 2FA, KYC, and AML, and also complies with local regulations to protect user accounts.
GOPAX Exchange
GOPAX is the 5th largest Korean crypto exchange that provides a safe and reliable platform for trading digital assets in South Korea. Founded by Streamit in 2017, it has earned a reputation for its commitment to user safety and regulatory compliance. They created gopax.com specifically for foreign subscribers which is limited to Korean servers.
Key Aspect of GOPAX
Cryptocurrencies: The exchange offers a wide range of Bitcoin, altcoins, and emerging tokens for trading, typically featuring more than 70 different digital assets.
User-Friendly Interface: The platform features simple menus, sophisticated charting tools, and real-time market data to provide a seamless trading experience.
Trading Options: Supports various trading options, including spot trading, margin trading, and the ability to set limit orders. This allows users to customize their trading strategies and execute trades according to their preferences.
Trading Fees: The fees start at 0.20% for makers and 0.25% for takers. And gradually decline as low as 0.05% for makers and 0.10% for takers for high-volume traders.
Security: Prioritizes the security of user funds and implements security measures and conducts regular security audits. But compared to other Korean crypto exchange GOPAX lacks security.
These are some of the Korean crypto exchange other than Upbit that deserves your attention. Now let’s make the comparison and conclude the blog with a few words.
Comparison & Conclusion
Bithumb stands out for its wide range of cryptocurrencies and various trading options, catering to traders of all levels. Upbit impresses with its strong security measures and advanced charting tools. Coinone differentiates itself by focusing on innovative features like security and copy trading.
Korbit on the other hand as one of the oldest exchanges, offers a reliable and user-friendly trading experience. Lastly, Coinone provides a seamless user experience and maintains a transparent reputation.
Each of the aforementioned Korean crypto exchange has its own unique strengths, features, and offerings. When it comes to choosing the best Korean crypto exchange, factors such as security, available cryptocurrencies, trading fees, user experience, and liquidity are crucial considerations. Do some research to make an informed decision and choose the Korean crypto exchange that works best with your needs. If you are an entrepreneur interested in cryptocurrency exchange development, Zodeak is here to make your dream come true. Also, get in touch with our experts to solve all your queries and start your crypto journey.
