What is Upbit? Learn about Upbit exchange
Year of establishment: September 2017
Current total capitalization: Over 1 billion 100 million dollars
What is Upbit?
Upbit is built and operated by Fintech Dunamu, a subsidiary of Kakao Corp., which owns the chat application Kakao Talk, which is currently the largest messaging application in Korea. Kakao Talk is now used on 95% of smartphones in Korea.
What markets and coins does Upbit support?
During this time, Upbit exchange is supporting many different coins such as: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), ..and many more. Upbit’s ultimate goal is to allow trading of more than 111 different coins from 167 different markets to help Korean investors integrate into the world market.
Upbit exchange mainly supports virtual currency trading pairs with BTC, USDT, ETH. In particular, BTC/USDT/ETH pairs, .. are traded on the market through Upbit’s exclusive partner Bittrex, one of the largest virtual currency exchanges in the world.
Features of Upbit exchange
Support multiple platforms:Users can use Upbit on Android and iOS, as well as on laptops or desktops through its website. Upbit’s website will have many good articles on how to invest coins as well as professional analysis articles on many different altcoins.
High security:Upbit provides very good security features such as email, 2-layer security (2FA)
Safe e-wallet:Upbit users will be provided with an internal digital wallet called Bitgo along with Kakao Pay authentication layer to enhance security for stable transactions.
24/7 support:Upbit supports users with Kakao Talk, the largest chat application in Korea
Multiple Coins Support:Upbit supports a lot of Coins, specifically more than 110 coins, Upbit exchange has signed an exclusive partnership with Bittrex, which is a digital currency exchange that supports more than 190 coins.
Low transaction fees:Upbit has an extremely competitive transaction and withdrawal fees, from 0.05%
What is the transaction fee on Upbit exchange?
The prices of coins on Upbit exchange are calculated according to UTC international standard time, which makes the value of coins on the exchange directly compared with the prices of that coin in foreign markets.
In Upbit exchange, it is divided into 2 markets, one is trading in the Korean currency market, abbreviated as KRW (Won), the other is trading in the segment of commonly used coins such as BTC. , ETH, USDT
Up to now, Upbit has not encountered any scams and has never been attacked by Hackers. Since Upbit is a part of Kakao Corp – one of the companies that are likened to internet giants in Korea, the security of users’ accounts as well as the system is very good.
Above is a brief introduction about Upbit floor, the basic features of the floor. Good luck
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