Upbit

Overview

Upbit is South Korea's largest cryptocurrency exchange by trading volume, founded in 2017. It is licensed by the FSC (Financial Services Commission) and FIU (Financial Intelligence Unit), and partnered with K Bank for real-name accounts. Upbit offers spot trading with KRW support and has a dominant market share in South Korea.

South Korea's Market Leader

Upbit is South Korea's largest crypto exchange by trading volume, with a dominant market share that often exceeds 80% of the Korean crypto trading market.

Real-Name Account System

Upbit uses Korea's real-name account system in partnership with K Bank, requiring users to verify their identity through their bank account for KRW deposits and withdrawals.

Pros & Cons

Pros

South Korea's largest crypto exchange by volume
FSC and FIU licensed
KRW deposit and withdrawal support
Dominant market share in South Korea
Wide selection of cryptocurrencies
Operating since 2017

Cons

Limited to South Korean residents
Real-name account system required
Strict KYC requirements
Past regulatory scrutiny

Frequently Asked Questions

Is Upbit regulated?

Yes, Upbit is licensed by the FSC (Financial Services Commission) and FIU (Financial Intelligence Unit) in South Korea, with a real-name account partnership with K Bank.

Can non-Koreans use Upbit?

Upbit is primarily for South Korean residents. Non-Korean users may face restrictions and need to verify their identity through a Korean bank account.