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Upbit Review
Upbit is a centralized cryptocurrency exchange, founded in 2017, based in South Korea. It holds a CoinGecko Trust Score of 8/10 (rank #38). It processes about $1.08B in 24-hour trading volume across 513 trading pairs. The figures and safety notes below are informational — not financial advice or an endorsement.
What is Upbit?
Upbit is a centralized cryptocurrency exchange, launched in 2017 and associated with South Korea. Upbit is known for its extensive trading options for cryptocurrency. It emphasizes security and compliance, offering a user-friendly platform while catering primarily to the South Korean market and expanding into Southeast Asia.
Top Upbit markets by volume
| Pair | Price | 24h Volume | Trust |
|---|---|---|---|
| WLD/KRW | $0.521793 | $51.83M | — |
| ARK/KRW | $0.269384 | $39M | — |
| 2Z/KRW | $0.069007 | $34.86M | — |
| ONDO/KRW | $0.535077 | $34.57M | — |
| USDT/KRW | $1.00 | $31.64M | — |
| EDGE/KRW | $0.132847 | $30.69M | — |
| ENA/KRW | $0.268646 | $28.41M | — |
| META2/KRW | $7.05 | $25.62M | — |
| NEAR/KRW | $5.07 | $25.23M | — |
| SUI/KRW | $1.17 | $23.99M | — |
| WAXP/KRW | $0.006362 | $22.67M | — |
| TRUMP/KRW | $2.10 | $19.44M | — |
Top trading pairs by 24-hour volume. Source: CoinGecko. Updated 12 Oct 2026.
How to start trading on Upbit
Getting started on Upbit follows the same broad steps as most centralized exchanges. Always confirm the current process on the platform itself, as requirements change by region and account tier.
- Create an account with your email or phone number and set a strong, unique password.
- Secure it immediately — enable two-factor authentication (2FA) before depositing any funds.
- Verify your identity (KYC) if prompted; most centralized exchanges require this to deposit fiat or raise limits.
- Deposit funds — by bank transfer, card, or by sending crypto from another wallet or exchange.
- Place your first trade using a market order (instant) or a limit order (at a price you set); consider spreading entries rather than buying all at once.
- Withdraw to self-custody — move any long-term holdings off Upbit into a hardware or reputable software wallet you control.
Upbit fees
Like most exchanges, Upbit makes money primarily through trading fees — usually a small percentage of each trade, split into a maker fee (when you add liquidity with a limit order) and a taker fee (when you remove liquidity with a market order). These fees typically fall as your 30-day trading volume rises. On top of trading fees, watch for the spread (the gap between buy and sell prices), deposit and withdrawal fees, and network (gas) costs when moving crypto on-chain.
We deliberately do not quote a single fee figure for Upbit: schedules change frequently and differ by asset, region, payment method and account tier. Before trading, review Upbit's current fee schedule and calculate the all-in cost for the specific market and order type you plan to use.
Where is Upbit available?
Upbit is associated with South Korea. Cryptocurrency exchanges operate under very different rules from country to country — some services (such as derivatives or specific tokens) are restricted or unavailable in certain regions, and a handful of jurisdictions ban crypto trading outright. Before opening an account, confirm that Upbit legally serves your country, which features are available to you, and what tax-reporting obligations may apply where you live.
How Upbit compares
A quick side-by-side with other tracked exchanges, by CoinGecko Trust Score, 24-hour volume and launch year:
| Exchange | Trust | 24h Volume | Since |
|---|---|---|---|
| Upbit | 8 | $1.08B | 2017 |
| Coinbase Exchange | 10 | $947.63M | 2012 |
| Kraken | 10 | $615.57M | 2011 |
| Binance | 10 | $6.47B | 2017 |
| OKX | 10 | $1.14B | 2017 |
Upbit: strengths & things to weigh
Strengths
- High CoinGecko Trust Score (8/10), indicating credible reported liquidity.
- Deep liquidity ($1.08B daily volume), which usually means tighter spreads.
- Established operator, trading since 2017 — a multi-cycle track record.
- 347 listed coins across 513 markets.
Things to weigh
- Custodial: Upbit holds your funds, so you are trusting the operator's security and solvency.
- Regulatory status and availability depend on your country; Upbit is associated with South Korea. Verify it legally serves your region.
- Fees, listings and features change frequently; always confirm current terms on the official site.
Is Upbit safe? Fees & getting started
No cryptocurrency exchange is completely safe. Upbit's CoinGecko Trust Score of 8/10 reflects liquidity and reported-volume quality, not solvency or regulatory standing. Because it is centralized, Upbit holds your funds — enable two-factor authentication, and move long-term holdings to self-custody. On fees: exchange fee schedules (maker/taker, spreads, withdrawal costs) change frequently and vary by tier and region, so we don't quote a fixed number — check Upbit's official fee page before trading.
Disclaimer. This review is informational, compiled from CoinGecko data — not an endorsement, paid placement, or financial advice. Verify all details on Upbit's official site; your capital is at risk.
Upbit FAQ
Is Upbit safe?
Upbit carries a CoinGecko Trust Score of 8/10, which reflects reported liquidity and market quality — not a guarantee of safety. As a centralized exchange it custodies your funds, so operator security and solvency matter. For larger holdings, self-custody in your own wallet is widely recommended.
What is Upbit's Trust Score?
Upbit has a CoinGecko Trust Score of 8/10, ranked #38 among tracked exchanges. Trust Score is CoinGecko's independent 0–10 rating combining reported vs estimated liquidity, order-book depth and web traffic. It is not a safety or regulatory rating.
Where is Upbit based?
Upbit is associated with South Korea. Many crypto exchanges operate across multiple jurisdictions; availability and legal status vary by country.
What can you trade on Upbit?
Upbit lists around 347 cryptocurrencies across 513 trading pairs. See the top markets by volume in the table above.
Is Upbit a CEX or a DEX?
Upbit is a Centralized (CEX). A centralized exchange runs the order book and holds your funds.
Is Upbit legit?
Upbit is a exchange that has operated since 2017 and is tracked by CoinGecko with a Trust Score of 8/10, which reflects reported liquidity and market quality. "Legit" is not the same as "risk-free" — always verify current regulatory status in your country and never store more than you can afford to lose.
Does Upbit require identity verification (KYC)?
Most centralized exchanges, including venues like Upbit, require some level of identity verification (KYC) to deposit fiat, trade at higher limits or withdraw. Requirements vary by country and account tier — check Upbit's current policy before signing up.
How do I withdraw from Upbit?
On a centralized exchange you typically withdraw by selecting the asset, entering a destination wallet address (or bank details for fiat), and confirming via two-factor authentication. For long-term holdings, withdraw crypto to a self-custody wallet you control rather than leaving it on the exchange.
What can I trade Upbit assets against?
Upbit offers around 513 trading pairs — assets are usually quoted against major bases such as USDT, USDC, BTC or ETH. The most liquid Upbit markets are listed in the table above.