A large South Korean cryptocurrency exchange.
Upbit is a South Korean centralized exchange with branches in Singapore, Indonesia and Thailand. On Upbit users can buy and sell cryptocurrency, the exchange also provides access to a wallet, where there is an opportunity to store digital assets. Upbit cryptocurrency exchange was launched in 2017 and was only available to South Korean citizens, but subsequently a global version appeared.
To use the exchange, users need to confirm their identity and undergo a KYC procedure. Upbit offers users spot trading with three types of orders: Market, Limit and Stop-limit. Market - buying or selling assets at market value. Limit - pending buy or sell order, action is activated after the specified value is reached. This is a text from community cryptodefix. Stop-limit is activated only when the specified condition is triggered. There are 162 assets and 278 pairs available for users on Upbit. Upbit fees are 0.2%.
Cryptocurrency on Upbit can be bought both for other tokens placed on the exchange and for fiat, the national currency of the country where the exchange is located. There is no minimum deposit on the exchange, only restrictions from cryptocurrency or blockchain developers. Withdrawals are made either to a bank account or a cryptocurrency wallet.
- Buying cryptocurrency for fiat
- No minimum deposit
- Spot trade with 3 types of orders
- Viewing of cryptocurrency trends
- 0.2% fee
- Identity verification
- Mobile App
Centralized exchanges (CEX)
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