Saturday, July 11 2020
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Upbit is the South Korean cryptocurrency exchange which was launched in 2017. Upbit does not charge any fees on the deposits and the withdrawal fee that the exchange charges depend on the type of currency being withdrawn. The trading fee is 0.25% for both takers and makers. The exchange protects its wallets by BitGo which is a widely recognized multi-signature wallet and is used by many cryptocurrency exchanges globally. Account security is managed by Kakao Pay. The exchange currently supports only South Korean Won. As the exchange is in partnership with Bittrex, it offers a wide variety of cryptocurrency coins and tokens. As the website of the exchange is only available in Korean, the international traders face difficulties in trading. Although Google translate can be used, the most significant barrier comes with the registration process which is geo-specific. Users can access everything through Android and iOS mobile devices along with web browsers. The exchange allows its users to trade in a high number of cryptocurrencies. Even if the exchange is not a good platform for international traders, the exchange could move digital currencies closer to mainstream adoption across the country.
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