Comparison of Bitget vs Upbit [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitget vs Upbit comparison!

Your expert: Alejandro Borja

Bitget

Investing risks losing your money

Your expert: Xavier Tarrasó

Upbit

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≈ 0,20%/0,25%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees, especially attractive for copy trading.

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.

Level

0,10%

≈ 0,20%/0,25%

Brief explanation

Bitget offers a competitive commission structure that is designed to facilitate both high-volume traders and those new to the cryptocurrency markets. The trading fees on Bitget are tiered based on the user’s 30-day trading volume, with rates decreasing as volume increases. This encourages active trading and can significantly lower costs for frequent traders. Fees for takers can vary but generally start around 0.075% and can go as low as 0.05% or even lower for VIP levels, making Bitget an attractive option for both novice and experienced traders looking for cost-effective trading solutions.

Upbit’s commission structure is designed to accommodate a range of trading volumes and styles, which makes it appealing for both high-volume traders and casual participants. The exchange typically employs a tiered fee system, where the trading fees decrease as the user’s monthly trade volume increases. This structure incentivizes frequent trading and larger transactions. However, it’s important for users to note that fees may vary depending on the market conditions and the specific cryptocurrencies being traded. Overall, Upbit’s fees are competitive within the industry but require users to stay informed about the specific details applicable to their trading activities.

Bitget

Security Methods: Bitget employs robust security measures, including cold storage of funds, multi-factor authentication, and regular security audits by external firms. These practices ensure that user assets are well-protected against potential security breaches and hacks.
Reputation and Reviews: The exchange has built a strong reputation within the crypto community, backed by positive user reviews. Users frequently commend the platform for its reliability, user-friendly interface, and innovative features like copy trading.
Trading Volume and Liquidity: Bitget boasts a high trading volume and liquidity, which indicates a healthy trading environment. High liquidity not only enables users to execute trades more efficiently but also minimizes the cost of trading by reducing the spread between buy and sell prices.
Year Founded: Since its inception in 2018, Bitget has quickly risen to prominence in the crypto trading space. Its rapid growth and sustained presence in the market underscore its stability and enduring appeal to traders.
Customer Service: Although there is room for improvement, Bitget's commitment to customer service is evident. The platform offers support through various channels and is proactive in addressing user concerns, which helps in building trust and ensuring a positive trading experience for its users.

Read bitget review

Upbit

Security methods: Upbit employs rigorous security protocols, including regular security audits and multi-factor authentication, which significantly minimize the risk of breaches and unauthorized access.
Reputation and Reviews: Since its inception in 2017, Upbit has maintained a strong reputation within the crypto community, especially in South Korea. Its partnerships and transparent practices contribute to its positive image among users.
Trading volume and liquidity: Upbit boasts one of the highest trading volumes among South Korean exchanges, providing users with high liquidity which is crucial for executing trades efficiently and at desirable prices.
Customer service: Upbit offers comprehensive customer support with various channels for communication, ensuring that users' issues and queries are addressed promptly and effectively.
Transparency: The platform is known for its transparent operational practices, such as providing clear information on fees and the regular publication of audit reports, which helps in building trust with its clientele.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitget Global

Dunamu Inc.

Regulation

Not regulated

Regulated in Corea del Sur

Year founded

2018

2017

Founder

Sandra Lou

Song Chi

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitget	FEATURES	Upbit
Bitget allows small minimum trade amounts, suitable for beginners wanting to start with low stakes.	Minimum Trade	Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Competitive trading and transaction fees, lower than many industry averages.	Trading and Transaction Fees	The fees are competitive but the structure can be complex and confusing for new users.
Offers a moderate range of cryptocurrencies, covering most major and several altcoins.	Number of Cryptocurrencies	Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Provides a diverse range of crypto-to-crypto trading pairs with good market depth.	Crypto-to-Crypto Trading Pairs	Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
The website provides clear information on fees, policies, and trading options.	Website Transparency	Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Bitget does not offer an exchange card for in-store purchases.	Credit/Debit Card	Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Offers secure storage solutions with cold storage options to protect user assets.	Storage Offering	Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Provides staking options with competitive rewards, though not as extensive as some competitors.	Staking and Rewards	Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Excellent user interface on both mobile app and desktop, offering full trading functionality.	Mobile App and Desktop	Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Adequate customer support with room for improvement in response times and accessibility.	Customer Service	Available and responsive, though some users report delays during peak times, which could be improved.
Efficient deposit and withdrawal processes, though limited by lack of fiat options.	Deposit and Withdraw	Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.

Key features

Analysis tools

Futures trading tools, technical indicators

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

Copy trading, futures trading, staking, Bitget Earn program

Margin trading, staking, Upbit Earn, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

150+

200+

User-friendliness

Bitget offers a user-friendly platform that is easy to navigate, with a focus on copy trading. The interface is designed to be accessible to beginners, allowing them to follow and replicate the trades of experienced traders.

Upbit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Delivers good value for money with low trading fees and a focus on copy trading, making it an attractive option for new and experienced traders.

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

South Korea, Singapore, Indonesia, Thailand

Best for

Ideal for both novice and experienced traders interested in copy trading and leveraging the strategies of successful traders.

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.

Base currencies available

USDT, BTC

KRW, BTC

Account

Trading

Bitget offers extensive trading options including futures and copy trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Upbit is a major exchange in South Korea, offering a wide range of cryptocurrencies and high liquidity. It provides advanced trading tools but can be complex for beginners.

Deposit and withdrawal

Bitget supports multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed within 24 hours, and fees are low, making it suitable for frequent traders.

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.

Account opening process

Bitget offers a seamless account registration process. Users need to fill in personal details, verify their identity, and address. The process is quick and usually takes less than a day, making it user-friendly.

Upbit offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Bitget provides support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited hours can be a drawback.

Upbit offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

Bitget employs standard security measures like 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert reviewing cryptocurrency exchanges, I recommend Bitget for traders who prioritize security and a user-friendly trading experience. The platform’s robust security measures and intuitive interfaces on both mobile and desktop make it an excellent choice. However, potential users should note the lack of fiat deposit options, which might require accessing another exchange to convert fiat to crypto before trading on Bitget. Overall, its competitive fees and diverse trading options make it a strong candidate for those looking to expand their trading strategies in the crypto space.

Xavier Tarrasó

As an expert reviewing Upbit, I’d recommend this exchange for users interested in a wide variety of cryptocurrencies and robust trading options. Its comprehensive security measures and high liquidity make it a reliable choice, especially for traders who prioritize a secure trading environment. However, newcomers should take time to familiarize themselves with its interface and fee structure to fully leverage Upbit’s offerings effectively.

View all comparisons against Bitget

View all comparisons against Upbit

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.