Despite only launching in October 2017, by January 2018 UPbit was already the biggest cryptocurrency exchange in South Korea by average daily trading volumes. Without discounting the level of success represented by the rapid traction UPbit has achieved, the exchange does have some very serious backing. UPbit’s founder, Song Chi-Hyung, is one of South Korea’s richest men. Chi-Hyung’s company Dunamu, which is the holding company behind UPbit, started out in 2012 as an online news aggregator but quickly moved into Fintech, where it has had real success.
As might be imagined for a cryptocurrency exchange backed by one of South Korea’s real internet and Fintech giants in Kakao, cyber security levels protecting UPbit traders are significant. Wallets are secured by BitGo, widely recognized as the global standard in multi-signature wallets and favored by many of the leading cryptocurrency exchanges internationally. Account security is in partnership with Kakao Pay, the mobile payments app owned by partner Kakao Corp., and a leader on the South Korean market, second only to Samsung Pay. It’s safe to say the Upbit’s cybersecurity standards are hard to beat.
It’s not by coincidence that UPbit has become the biggest cryptocurrency exchange in the world and, according to CoinMarketCap data, the fifth largest in the world by daily turnover within a matter of months. The exchange has arguably the most serious backing in the world in the form of Kakao Corp., the South Korean internet giant and the partnership with Bittrex, the major US exchange, that allowed well over cryptocurrencies to be supported, has also gone a long way to quickly establishing the exchange among the global elite.
From a technology and security point of view, UPbit has few rivals and the range of tradable coins is also up there with the best. The one drawback is that UPbit is very much a South Korean exchange and setting up an account and trading is difficult for anyone of a different nationality.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|