Upbit

Upbit

Rank #18
Fiat Support
KRW
Launched
Korea (the Republic of) , 2017-10
Margin trading
No
#Coins/#Markets
162/264
24h Trading Volume
$944,887,135
56,035 BTC 14.81%
Proof of reserves
$22,034
1.31 BTC
LastMonthVisits
6,259,749
Alexa Rank
#7,874
Twitter Followers
24,353
Cybersecurity
6.88

Upbit Trade Volume Charts (24h)

What is Upbit?

Upbit is a centralized cryptocurrency exchange located in South Korea.

Upbit was established in year 2017 with the objective of becoming the most trusted digital-asset exchange. According to relevant statistics, Upbit quickly gained the trust of market investors. At the end of 2017, its average 24-hour trading volume reached $4.5 billion. By year 2018, Upbit has become one of the biggest cryptocurrency exchanges in South Korea. As a result, it began expanding into Southeast Asia in late 2018, launching first in Singapore and then Indonesia. At present, its daily trading volume exceeds $7 billion.

Who is the Founder and CEO of Upbit?

The founder of Upbit's parent company Dunamu is Chi-Hyung Song, who was also the CEO of Upbit before. In December 2017, Sirgoo Lee was appointed as the CEO and Chi-Hyung Song as Chairman.

In order to achieve the mission of creating a new investment environment for everyone. Upbit focuses on blockchain and financial technology, and strives to provide users with a wide range of quality services.

Can Foreigners (Non-Koreans) Join and Trade on Upbit?

As with Koreans, foreigners can join and trade if they meet all three conditions below.

  • Normal use of Kakao account
  • Login through Kakao account
  • Real name authentication of domestic telecommunication company(This is possible only when a domestic mobile phone under your name is opened)

Foreigners can open a domestic mobile phone only if they have an alien registration card, residence report, diplomat card, and documents proving that they are USFK.

Unsupported Countries

In compliance with International Regulatory standards, there are a number of countries whose residents are prohibited from registering with Upbit Singapore Pte. Ltd.

The details of the Sanctions & Warning listings can be found on the below links.

  • Treasury Department's Office of Foreign Asset Control (OFAC)

https://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx

  • The Financial Action Task Force (FATF)

http://www.fatf-gafi.org/countries/#high-risk

In addition to the above listings, Upbit Singapore Pte. Ltd. is unable to provide any services to residing customers from the United States of America (USA). This is due to the complexity of the country's regulatory environment.

Is Upbit Safe?

Upbit is considered a secure cryptocurrency exchange with strong multi-factor authentication. In terms of wallet security, it separates storage in cold wallets and operates various digital asset wallets based on the highest level of security system. In terms of account security, it adopts two-channel additional authentication and Kakao Pay simple authentication, which is simpler and safer than OTP. In addition, Upbit employs a security system with 24-hour monitoring. Moreover, Upbit has acquired international standards and major domestic security certifications.

Although security measures have been implemented by cryptocurrency exchanges, it cannot fully guarantee the security of users' funds. In addition to depositing funds on centralized cryptocurrency exchanges, users can also choose to transfer funds to reputable wallets to reduce risk. However, each method contains certain risks, users need to compare and choose the most appropriate one based on their specific conditions.

Deposit and Withdrawal

Click the link below to get the deposit and withdrawal process on Upbit:

Transaction and Deposit/Withdrawal Usage Guide

How Can I Contact Upbit Customer Support?

Or try these social media to get Upbit customer service:

Upbit APP Download