Upbit Crypto exchange provides a financial-institution grade of security and user-friendly service for their clients. They have years of experience in operating stock trading systems on a massive scale since they are founded in 2017. The company is based in South Korea and they are the first Korea exchange whose portfolio consists of hundreds of altcoins. At their website, you will find over 150 digital assets, constant customer support and many other benefits.
If you wish to open an account at Upbit, it won’t take you much time. They do not ask for many details and they do not send verification mail to confirm your account. As soon as you enter your email and password, the account is ready.
There is only one type of account, but they do have deposit and withdrawal limits. Aside from that, you can be on your account for three hours. When those three hours expire, they will log you out automatically. So, keep in mind that and take an eye in the corner on the screen to see how much time you have for that session.
The education section is my first disappointment when it comes to Upbit crypto exchange. They do not offer eBooks, guides or anything like that. The only thing you can find at their website is a step by step guides on how to manage through their website. So, if you are having trouble with deposits or withdrawals, go to their Frequently Asked Questions page and you will find an answer there.
The only thing they have is a profile on Medium platform. But the thing is, they do not use it to educate their clients. Instead, they announce news regarding the website since they don’t have a news section either.
I have to say, I expected to see different educational things since they claim to be one of the biggest crypto exchanges.
When it comes to their website, you will notice some errors that appear on the landing page. Luckily, those errors don’t affect trading and they do not appear on the mobile app once you download it.
While I am mentioning the mobile app, they offer a user-friendly app for both Android and Apple devices. If you install it on your phone, you will have real-time monitoring with custom notifications, trends and market data and cryptanalysis.
The wallet section is excellent, I have to say. It’s perfect for professional traders but beginners can easily manage it, too. It has all the information you could need, so after a disappointment with the education centre, this is a pleasant surprise.
If you want to contact someone from their customer service, I wish you the best of luck. They do not provide proper support and reaching out to them is quite a struggle. There isn’t a Live Chat option, so clients can forget about fast replies. Aside from that, they do not have phone numbers, so you won’t be able to call them either.
They have a Frequently Asked Questions page, so you might find answers there, but that is not enough at all. As you can see, I am completely disappointed with this part. When an exchange cannot provide proper customer service it gets a lot of negative points from me.
There is one button at their website, named Contact. But don’t get excited too soon, since it’s not working. No matter how many times you click on it, you will stay on the main page. So, the only way to get some answers is to submit a request on their website and wait for them to contact you. The problem is, they never specified how much time they need to provide an answer.
The only deposit and withdrawal method they offer is wire transfer. You won’t be able to use your Credit or Debit card, and that is quite disappointing.
When it comes to fees, you only pay them when you decide to make a withdrawal. They are approximately 0.25% of each transaction, but since that can change, you should always check their fee list and stay updated.
Should You Choose Upbit?
This time I have to say there are more cons than pros. Unfortunately, Upbit didn’t meet my expectations nor they fulfilled their promises. That’s why I believe there are much better crypto exchanges out there, and you should find the one that can offer you better conditions, proper customer service and great learning material so you can improve the knowledge you have.