Top 10 Crypto Exchanges in Korea

In 2023, it's estimated that around 2 million South Koreans are cryptocurrency owners, representing 3.9% of the country's populace. The significant rise in cryptocurrency usage can be traced back to 2017, and currently, it is fully legal to trade, buy, and sell crypto assets within the country. Triple-A Statistics show that in 2021, a majority of cryptocurrency holders in South Korea, about 54%, were male, while females accounted for 46%. Of the crypto users in the region, 31% are individuals aged between 30 and 40, 25% are between 20 and 30, while 27% are over the age of 40.

Leading the market are the prominent exchanges: Bithumb, UPbit, CoinOne, and Korbit , collectively referred to as 'The Big Four'. Together, they manage about 90% of all crypto assets owned by South Koreans. This article delves into what these platforms and others available in South Korea have to present.", ' , established in 2014, has become one of the major players in South Korea’s crypto exchange landscape, boasting around 8 million registered users. The platform specializes in trading Korean won (KRW) and Bitcoin, making it highly favored among South Korean users.

BitHumb

BitHumb The exchange supports a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Ripple, and Litecoin, and additionally features advanced trading options like margin and futures trading. Its user-friendly interface and 24/7 customer service enhance the overall user experience. Besides, Bithumb also offers a mobile application available for iOS and

. This app provides users with instantaneous market data and trading charts. Android devices Only facilitates deposits and withdrawals in South Korean Won.

Pros:

• Strong security features
• Wide selection of cryptocurrencies
• Competitive fees
• User-friendly interface
• 24/7 customer support
• Mobile app

Cons:

• The platform has faced security challenges in the past.
• Higher fees for non-Korean users
• Limited liquidity
• is a cryptocurrency exchange based in Seoul, founded in 2017 by Dinamu Inc., a subsidiary of Kakao Corp., one of South Korea's tech powerhouses.

UPbit

UPbit In December 2018, Upbit was recognized by the Blockchain Transparency Institute as the third-largest exchange globally by trading volume. Currently, Upbit operates at a trading volume of nearly two billion U.S. dollars every 24 hours, according to

. It accommodates trading in the Korean won and is one of the largest exchanges in South Korea, featuring a diverse array of trading pairs including BTC, ETH, and USDT. Statista Upbit provides mobile applications for iOS and Android, empowering users to engage in trading on the move while also offering trend analysis and essential market information. Furthermore, the app supports real-time price updates on the lock screen along with customization notifications.

Interestingly, earlier this year, Upbit became the buy crypto and Global Crypto-Exchange Partner for the famed Italian football club Napoli.

Offers an extensive array of cryptocurrency options Back-of-Shirt Partner Recognized for its reliability and prestige within the cryptocurrency exchange community

Pros:

• Limited support for users who are not based in Korea
• User-friendly interface
• Strong security features
• is a well-regarded cryptocurrency exchange launched in 2013 and situated in Seoul’s bustling Gangnam district. As one of the earliest crypto exchanges in South Korea, it has earned a strong reputation for its commitment to security and reliability. Users can trade in Korean won alongside various cryptocurrencies like BTC, ETH, and XRP. Korbit’s website is user-friendly, ensuring ease of navigation while its mobile app allows for trading on the go.
• Competitive fees

Cons: 

• Supports Korean won only
• Limited trading pairs
• Additionally, in June 2021, Korbit unveiled Korea’s inaugural NFT marketplace. That same year, the exchange rolled out its metaverse

Korbit

Korbit , giving users a chance to earn points through gameplay.

Only allows deposits and withdrawals in South Korean Won platform is another popular cryptocurrency exchange in South Korea. This platform caters to virtual asset management and supports an impressive array of cryptocurrencies for trading. CoinOne allows users to trade assets like Ethereum, Ripple, Litecoin, and Bitcoin, as well as in KRW. The exchange also offers margin and futures trading, while its mobile app ensures quick and easy access to trading options with real-time market insights and charts.

Pros:

• Intuitive interface
• Strong security features
• Good reputation
• Wide selection of cryptocurrencies
• Quick customer support

Cons: 

• Limited trading pairs
• Back in 2018, Coinone introduced Coinone Transfer, a web and mobile service dubbed “Cross,” designed for quick and cost-effective remittances to countries such as the Philippines and Thailand.
• High fees

CoinOne

Coinone Has dealt with occasional service interruptions and downtime previously

is a cryptocurrency platform established in South Korea in 2018. It has garnered a solid user base due to its straightforward interface and speedy transaction capabilities. Gopax allows trading in various cryptocurrencies like BTC, ETH, and XRP. This exchange employs a multi-signature cold wallet system for safeguarding user assets, ensuring offline protection against hacking attempts.

Pros: 

• Strong security features
• User-friendly interface
• Mobile app
• Wide selection of cryptocurrencies
• Competitive fees

Cons: 

• Limited fiat options
• Limited liquidity
• Limited trading pairs
• Beyond just trading, Gopax offers a wealth of educational materials aimed at newcomers. The platform houses articles, videos, and instructional content related to cryptocurrency trading and blockchain technology, making it an excellent starting point for first-time investors.

Gopax

Gopax It's important to point out that earlier this year, the world’s largest crypto exchange, Binance, acquired a majority stake in Gopax.

Only allows deposits and withdrawals in South Korean Won.

Lacks advanced features compared to other exchanges

Pros:

• Strong security features
• User-friendly interface
• Wide selection of cryptocurrencies
• Low fees

Cons:

• is a subsidiary of Huobi Global, which is headquartered in Singapore. The exchange provides a host of financial services alongside digital asset management, allowing users to trade an array of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Huobi Korea also offers various trading tools and features, including margin trading, futures options, and OTC services.
• Limited trading pairs
• Exclusively accepts Korean Won for deposits and withdrawals

Huobi Korea

Huobi Korea While ProBit Global is based in the Seychelles,

Pros:

• Wide selection of cryptocurrencies
• Strong security features
• Competitive fees
• Advanced trading features

Cons:

• operates out of Seoul and is regulated by the Korean government, adding an extra layer of trust and security. The exchange’s website is designed to be user-friendly and intuitive, enabling trading in both well-established cryptocurrencies and those that are lesser-known. ProBit Exchange Korea also provides additional offerings such as a referral program, a launchpad for new token sales, and an OTC trading desk.
• Offers limited customer support
• Limited liquidity
• Limited trading pairs

 

ProBit Korea

Only supports deposits and withdrawals in South Korean Won (KRW) ProBit Korea was initiated in South Korea back in 2017. Currently, this exchange is well-regarded for its rapid trade execution, minimal fees, and user-friendly interface. Hanbitco supports a mobile application, features a referral program, provides an API for developers, and maintains an OTC trading desk. Users can also engage in staking with several cryptocurrencies, allowing for the potential to earn rewards for holding their assets on the exchange.

Pros: 

• Wide selection of cryptocurrencies
• Competitive fees
• Advanced trading features
• Strong focus on security
• Quick customer support
• Intuitive interface

Cons:

• Limited trading pairs
• Limited liquidity
• Does not have a strong reputation yet
• is known for its prompt trade execution and advanced security options, offering various cryptocurrency trading options. GDAC features a variety of cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Ripple, along with many altcoins, while facilitating trading in Korean won — simplifying the process for local traders.

Hanbitco

Hanbitco is a South Korean financial firm established in 2013, offering Bitcoin exchange services and a wallet solution named “okBitcard.” The company also features a two-way ATM system and operates as a payment processor targeted at the South Korean and broader Asian markets.

Pros: 

• Referral program
• Mobile app
• OTC trading desk
• User-friendly interface
• Competitive fees
• Good customer support

Cons: 

• Limited liquidity
• A small list of supported currencies
• Limited trading pairs

GDAC (Global Digital Asset Exchange)

GDAC Additionally, it’s interesting to note that Coinplug holds upwards of 300 blockchain patents across various sectors.

UPbit stands out as the leading exchange in Korea. As of March 2023, the platform has reported an impressive trading volume of $2,070.53 million, according to

Pros: 

• Strong security features
• Competitive fees
• User-friendly interface

Cons:

• Limited liquidity
• Limited trading pairs
• Limited advanced trading features
• is known for its prompt trade execution and advanced security options, offering various cryptocurrency trading options. GDAC features a variety of cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Ripple, along with many altcoins, while facilitating trading in Korean won — simplifying the process for local traders.

Coinplug

Coinplug In 2023, 3.9% of South Korea's inhabitants are engaged in cryptocurrency ownership, a trend that began gaining traction in 2017.

Although cryptocurrencies are not legally classified as currency in South Korea, the exchanges operate legally under stringent regulations.

Pros:

• User-friendly interface
• Wide selection of cryptocurrencies
• Mobile app
• Two-way ATM
• Wallet service

Cons:

• Limited fiat options
• Limited liquidity
• Limited trading pairs
• Higher fees

Frequently Asked Questions

The United Arab Emirates tops the chart for Statista . 

Before venturing into crypto trading, it's crucial to consider aspects such as security, fees, ease of use, and the range of cryptocurrencies available on the exchange.

If you're residing in South Korea and are eager to embark on your cryptocurrency trading journey, all of the exchanges outlined in this article should serve you well. Given that many of these platforms are designed to work only with South Korean Won (KRW), they're optimally tailored for local users but may not be as accessible to international customers. You might want to explore one of “The Big Four” exchanges — namely Bithumb, UPbit, CoinOne, and Korbit — or consider one of the smaller exchanges. UPbit is especially prominent, having recorded a trading volume exceeding $2,070.53 million in March 2023.

South Korean exchange UPbit becomes a sponsor for SSC Napoli crypto adoption . 27.67% of the UAE population owns crypto. 

Conclusion

South Korea makes a significant investment of over $30 million into a Metaverse fund aimed at enhancing economic development.

The nation is doubling down on its commitment to the Metaverse, with a striking $177 million investment

Read related posts:

• , please be aware that the information found on this page should not serve as legal, tax, investment, financial, or any other form of professional advice. It is essential to only invest amounts you can afford to lose, and if you have any uncertainties, seek independent financial counsel. For more insights, we recommend referring to the terms and conditions as well as the help and support sections provided by the respective issuer or advertiser. MetaversePost strives for accurate and unbiased reporting; however, market conditions can change without forewarning. Valeria works as a reporter for Metaverse Post, focusing on fundraising, artificial intelligence, the metaverse, digital fashion, NFTs, and everything related to web3.
• The Leading Crypto Trading Platforms in South Korea - Metaverse Post