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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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UpBit is a South Korean exchange with a user-friendly interface and competitive fees, making it a good option for beginners. However, the platform faces accessibility issues in the U.S. and has received mixed reviews on security, with some users reporting issues with withdrawals and account freezes. Customer support experiences are inconsistent. Overall, UpBit is suitable for traders in supported regions, but there are areas where it could improve, especially in transparency and reliability.
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.
Informations
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
Conclusion
UpBit is a South Korean exchange with a user-friendly interface and competitive fees, making it a good option for beginners. However, the platform faces accessibility issues in the U.S. and has received mixed reviews on security, with some users reporting issues with withdrawals and account freezes. Customer support experiences are inconsistent. Overall, UpBit is suitable for traders in supported regions, but there are areas where it could improve, especially in transparency and reliability.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
UpBit
User Reviews
The interface is sleek, user-friendly, and aesthetically pleasing. Nevertheless, it is not regulated within the United States and is not accessible to U.S. clients.
UpBit is a prominent cryptocurrency exchange recognized for its extensive array of tools and products, competitive rates, and potent trading infrastructure.
UpBit is currently receiving negative customer reviews due to its poor usability. Customers have given UpBit a low rating due to how difficult it is to navigate the platform.
Although the fee structure is competitive, some users feel that more transparency is needed when it comes to understanding the costs associated with overnight positions and financing.
UpBit's reputation has taken a hit due to frequent reports from its users about problems with withdrawals and suspension of their accounts.
UpBit has a variable track record when it comes to customer support. Customers are sometimes satisfied with its prompt and practical service, while others experience longer-than-expected wait times, and solutions that are not as strong as they could be.
UpBit has a sleek and user-friendly interface, but faces challenges accessing the U.S. market, as well as performance issues. Although its fees are competitive, its lack of transparency and inconsistent customer service have led to mixed reception from users. There are many areas where UpBit could potentially improve its platform.
About
UpBit
UpBit
Users?
Score
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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