Upbit Review 2025: Is Upbit Exchange Worth Your Attention?

·

Cryptocurrency trading has evolved into a global phenomenon, with digital assets becoming increasingly accessible through various exchange platforms. Among them, Upbit stands out as one of South Korea’s most prominent crypto exchanges. But is it the right fit for your trading needs in 2025? This comprehensive review dives deep into Upbit’s features, security, fees, user experience, and limitations to help you decide whether this platform deserves a spot in your investment toolkit.

Whether you're a beginner exploring your first exchange or an experienced trader evaluating regional platforms, understanding Upbit’s strengths and weaknesses is crucial. Let’s explore what makes this exchange notable—and where it falls short.

What Is Upbit?

Upbit is a South Korean cryptocurrency exchange launched in 2017 by entrepreneur Song Chi-Hyung, backed by strategic collaboration with the U.S.-based exchange Bittrex. Within just two months of its launch, Upbit rose to become one of the top exchanges globally by 24-hour trading volume, cementing its position in the Asian market.

A significant milestone for Upbit was becoming the first crypto exchange worldwide to obtain ISMS (Information Security Management System) certification from the Korea Internet & Security Agency. This accreditation underscores its commitment to data protection and regulatory compliance—a key factor for users concerned about security.

👉 Discover how secure crypto platforms manage risk—click here to learn more.

Despite its rapid rise, Upbit has faced scrutiny. In 2018, three of its executives were accused of placing fake trades—an allegation the company denied. Then, in November 2019, a major security breach occurred when 342,000 ETH (valued at ~$50 million) was transferred to an unknown wallet. In response, Upbit upgraded its infrastructure, moving all assets to cold storage wallets and introducing enhanced withdrawal protocols.

Today, Upbit remains a dominant player in South Korea but operates under strict regional limitations. Let’s examine its core features in detail.

Key Features of Upbit

Robust Security Measures

Security is paramount when choosing any crypto exchange, and Upbit implements multiple layers of protection:

Although Upbit previously relied on BitGo for multi-signature wallet security, it transitioned to an in-house system after the 2019 hack. All Ethereum holdings are now stored in cold wallets, significantly reducing exposure to online threats.

While no platform is immune to attacks, Upbit’s transparent response—including full reimbursement to affected users—demonstrates accountability. Still, experts recommend storing long-term holdings in hardware wallets like Ledger or Trezor for maximum safety.

Over 200 Supported Cryptocurrencies

One of Upbit’s strongest advantages is its extensive asset selection. The platform supports over 200 cryptocurrencies, including major coins such as:

This wide range allows traders flexibility and access to niche markets not always available on international exchanges. Compared to many global platforms that limit regional listings, Upbit offers strong diversification potential—especially for those interested in Asia-based projects.

Competitive Trading Fees

Upbit maintains a straightforward fee structure that appeals to active traders:

At 0.25%, these fees align with industry standards and remain competitive compared to higher-cost exchanges. However, some platforms offer tiered discounts based on trading volume or native token usage—something Upbit does not currently provide.

For cost-conscious investors aiming to maximize profits over time, even small differences in fees matter. While Upbit isn’t the cheapest option available, it strikes a reasonable balance between affordability and service quality.

High Liquidity for Fast Execution

Liquidity determines how quickly you can buy or sell assets without affecting market price. High liquidity reduces slippage and ensures smoother trade execution.

At launch, Upbit quickly climbed the ranks due to exceptional trading volume. As of 2025, while it no longer ranks among the top 10 globally, it still holds a solid position with hundreds of millions in daily volume across its markets.

This level of activity ensures that traders can enter and exit positions efficiently—especially important for volatile assets like altcoins. For users focused on fast-moving strategies or large-volume trades, Upbit’s liquidity remains a compelling advantage.

Beginner-Friendly Interface and Tools

Newcomers will appreciate Upbit’s intuitive design and educational resources:

The platform avoids overwhelming beginners with excessive complexity while still offering essential tools for informed decision-making. Combined with responsive customer support via email, phone, and KakaoTalk (popular in South Korea), Upbit delivers a supportive environment for novice traders.

However, advanced order types and algorithmic trading features are limited—making it less ideal for professional traders seeking sophisticated tools.

Mobile App Availability

Upbit offers dedicated apps for both iOS and Android, as well as desktop versions for Windows and Mac. The mobile app boasts a 4.3-star rating on Google Play, reflecting generally positive user feedback.

Key app features include:

Users praise the clean interface and reliable performance, though some report occasional delays during peak times or challenges with KYC verification.

👉 Compare top-rated crypto apps—see what sets leading platforms apart.

Limitations of Upbit

Despite its strengths, several factors may deter potential users.

No Leverage or Margin Trading

Upbit does not support leverage or margin trading—a notable omission for experienced traders seeking amplified returns (and higher risk). Platforms like Binance or Kraken offer up to 125x leverage with negative balance protection, features entirely absent on Upbit.

While this limitation protects inexperienced users from catastrophic losses, it restricts strategic options for seasoned investors using hedging or short-selling techniques.

Only South Korean Won (KRW) Supported

Upbit only accepts Korean Won (KRW) as fiat currency. There's no direct support for USD, EUR, JPY, or other major currencies.

To use Upbit, non-Korean residents must:

  1. Buy crypto on another exchange using their local currency
  2. Transfer funds to their Upbit wallet

This extra step adds friction and potential transfer fees—reducing convenience for international users.

Not Available for U.S. Residents

Due to regulatory restrictions, Upbit is not accessible to users in the United States. This exclusion limits its global reach and eliminates American traders from accessing its high-liquidity markets.

Residents of other countries should verify availability based on local regulations before attempting registration.

Mixed Reputation Following Security Incident

Although Upbit recovered well from the 2019 hack, its reputation took a hit. Online reviews reflect mixed experiences—some users praise fast support and smooth transactions, while others report issues with account verification and delayed withdrawals.

Transparency improved post-hack, but trust takes time to rebuild. Prospective users should weigh past incidents against current safeguards before committing funds.

Frequently Asked Questions (FAQ)

Is Upbit safe to use in 2025?

Yes, Upbit employs robust security measures including ISMS certification, cold storage for most assets, two-factor authentication, and fund passwords. While it suffered a major hack in 2019, the platform responded with infrastructure upgrades and full user compensation. Ongoing vigilance is advised, especially for large holdings.

Can I use Upbit outside of South Korea?

Upbit primarily serves South Korean residents. International access is limited, and U.S. users cannot register due to regulatory constraints. Non-Korean users may need to use alternative exchanges or transfer crypto from supported platforms.

Does Upbit charge high trading fees?

No. Upbit charges a flat 0.25% fee for both makers and takers—on par with industry averages. While not the lowest available, it's considered fair and predictable compared to tiered or dynamic pricing models.

What cryptocurrencies does Upbit support?

Upbit lists over 200 digital assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), EOS, and many altcoins popular in Asian markets. It's particularly strong in KRW-trading pairs.

Does Upbit have a mobile app?

Yes. Upbit offers mobile apps for iOS and Android devices with real-time trading, portfolio tracking, security features like 2FA, and access to more than 150 assets. The app has a 4.3-star rating on Google Play.

Why doesn’t Upbit offer margin trading?

Upbit focuses on simplicity and risk mitigation, especially for beginner traders. By excluding leverage trading, it avoids exposing users to extreme volatility and liquidation risks common in margin positions.

Final Verdict: Should You Use Upbit?

Upbit remains a solid choice for South Korean traders seeking a secure, liquid, and user-friendly exchange with broad altcoin support. Its strong regulatory standing, ISMS certification, and recovery from past incidents reflect resilience and responsibility.

However, international users—especially those outside Asia—face significant barriers: lack of multi-currency support, unavailability in the U.S., no margin trading, and the need for indirect onboarding via other exchanges.

👉 Explore globally accessible alternatives with advanced features—start now.

For beginners in South Korea or traders focused on KRW markets, Upbit is worth considering. But if you're looking for global accessibility, lower fees, leverage options, or multi-fiat support, platforms like OKX, Binance, or Kraken may better suit your needs.

Always conduct thorough research and consult financial advisors before investing in cryptocurrencies.