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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Overview
Quick Facts
Upbit is a South Korean cryptocurrency exchange that offers many pairs in the Korean won fiat currency. Founded in 2017, Upbit has partnered with Bittrex, a leading US crypto exchange.
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Pro's & Con's
UpBit
Features
Feature Overview
Unique Features
- Over 1800+ coins
- Spot and futures trading options
- Recurring buy feature
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Futures
- Options
Our
UpBit
Review
Test Result
UpBit
User Reviews
The interface is modern, easy to navigate, and looks good. However, the platform is not regulated in the United States and is not available to U.S. customers
UpBit is a well-known cryptocurrency exchange known for its wide range of features, affordable fees, and strong trading platform
UpBit has a low rating based on customer reviews, with users mostly dissatisfied especially when it comes to the usablity of their platform
The fee structure is recognized for its competitiveness. However, the transparency around the costs of overnight positions and financing could be improved, according to some users.
UpBit has received poor reviews from users, with many reporting issues with withdrawals and account freezes8
User experiences with UpBit's support are inconsistent. Some commend the prompt and helpful service, while others point out longer wait times and insufficient solutions
UpBit provides a modern and navigable interface, yet it faces accessibility issues in the U.S. and mixed reviews on usability. While fees are competitive, the lack of transparency and varying customer support experiences suggest areas where UpBit could improve.
About
UpBit
UpBit
Users?
Score
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.
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