Upbit Exchange Overview: Trading Volume, Supported Cryptocurrencies, and Key Features

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Upbit has established itself as one of the most influential cryptocurrency exchanges in South Korea and beyond. With robust trading volume, a wide range of supported digital assets, and strategic partnerships, Upbit continues to attract traders seeking reliable access to both mainstream and emerging crypto markets. This comprehensive guide explores Upbit’s core features, including its market presence, supported cryptocurrencies, fee structure, and global reach—offering valuable insights for both new and experienced traders.

What Is Upbit?

Upbit is South Korea’s largest cryptocurrency exchange by trading volume. Launched in 2017, it enables users to trade over 170 cryptocurrencies against the Korean won (KRW) and Bitcoin (BTC). The platform gained rapid traction thanks to its technological collaboration with Bittrex, a well-known U.S.-based exchange, which provided critical infrastructure during its early development.

One of Upbit’s standout features is its integration with Kakao Stock—a financial service built on KakaoTalk, South Korea’s dominant messaging app. This seamless integration allows millions of local users to trade digital assets as effortlessly as sending a text message, significantly lowering the barrier to entry for retail investors.

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Founding and Leadership

Upbit was founded by Song Chi-Hyung, CEO of Dunamu Inc., the company behind the exchange. A computer science and economics graduate, Song played a pivotal role in launching Upbit through Dunamu’s partnership with Kakao, South Korea’s internet and mobile giant. This backing gave Upbit immediate credibility and access to a massive user base.

The strategic alliance with Bittrex further accelerated Upbit’s growth, enabling it to offer advanced security protocols and scalable trading systems from day one. Within just three months of launch, the platform achieved exponential user growth and quickly rose to dominate the Korean market.

Launch Date and Global Expansion

Upbit officially launched on October 24, 2017, entering the market at a time of surging interest in cryptocurrencies. By late 2017, during the height of the crypto boom, Upbit reported an average daily trading volume of $4.5 billion—with peak days reaching an astonishing $11 billion.

While headquartered in Seoul, South Korea, Upbit began expanding internationally in 2018. It opened a subsidiary in Singapore on October 30 of that year, followed by operations in Indonesia and Thailand. These moves reflect a broader strategy to tap into fast-growing Southeast Asian markets where cryptocurrency adoption is accelerating.

Geographic Restrictions

Due to regulatory compliance requirements, Upbit does not provide services to users in certain jurisdictions. Notably:

These limitations ensure adherence to global anti-money laundering (AML) and know-your-customer (KYC) standards.

Supported Cryptocurrencies and Trading Pairs

Upbit supports more than 170 cryptocurrencies, offering 288 trading pairs—primarily denominated in KRW and BTC. The platform lists major digital assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), alongside numerous altcoins and newer tokens such as StormX (STMX), Moo Deng (MOODENG), and Sahara AI (SAHARA).

The diversity of listed projects reflects Upbit’s commitment to supporting innovation while maintaining strict listing criteria to protect investors.

Top Trading Markets on Upbit

As of recent data, some of the most actively traded pairs include:

This dynamic mix underscores Upbit’s role not only as a gateway to established cryptos but also as a launchpad for emerging trends.

Fee Structure

Upbit maintains a transparent and competitive fee model:

This straightforward pricing appeals to active traders who value predictability in cost structures.

Margin and Leverage Trading

As of 2025, Upbit does not support margin or leverage trading. The platform focuses on spot trading, emphasizing security and simplicity over high-risk derivatives. This approach aligns with stricter regulatory oversight in South Korea and prioritizes investor protection.

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Frequently Asked Questions (FAQ)

Q: Is Upbit available outside South Korea?
A: While Upbit's primary market is South Korea, it has expanded operations to Singapore, Indonesia, and Thailand through localized subsidiaries.

Q: Can I trade USDT on Upbit?
A: Yes, Tether (USDT) is available for trading against KRW, providing a stablecoin option for traders seeking reduced volatility.

Q: Does Upbit require KYC verification?
A: Yes, all users must complete identity verification to comply with South Korean financial regulations.

Q: How secure is Upbit?
A: The exchange employs multi-layered security measures, including cold storage for funds, two-factor authentication (2FA), and regular audits.

Q: Are there mobile apps for Upbit?
A: Yes, Upbit offers fully featured iOS and Android apps, allowing users to trade, monitor prices, and manage accounts on the go.

Q: Why is StormX (STMX) so heavily traded on Upbit?
A: STMX benefits from strong community support and integration with microtask-based earning platforms, making it popular among younger Korean investors.

Core Keywords

With its strong market position, regulatory compliance, and user-friendly design, Upbit remains a top choice for traders in Asia and those interested in KRW-denominated crypto markets. Whether you're exploring early-stage tokens or established digital assets, understanding Upbit’s ecosystem can enhance your trading strategy in one of the world’s most active crypto regions.

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