Comparison of Blockchain.Com vs Upbit [ 2024 ]

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

Your expert: Alejandro Borja

Blockchain.Com

Your expert: Xavier Tarrasó

Upbit

Main points

Fees

0,40%/0,45%

Earns

Yes

Customer service

3/5

≈ 0,20%/0,25%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees with a focus on security and ease of use.

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

Level

0,40%/0,45%

≈ 0,20%/0,25%

Brief explanation

Blockchain.com maintains a competitive fee structure for its trading services. The platform charges a dynamic fee for transactions, which typically aligns with industry standards to ensure affordability while maintaining high-quality service. For cryptocurrency trading, the fees vary depending on the market conditions and the type of transaction, such as buying, selling, or exchanging cryptocurrencies. It’s important for users to review the specific fees associated directly on the Blockchain.com platform before executing any trades to understand the potential costs involved fully. This fee structure is designed to be transparent, allowing users to make informed decisions without hidden charges.

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.

Blockchain.Com

Year Founded: Blockchain.com has been a trusted name in the cryptocurrency market since 2011. Its longstanding presence serves as a testament to its reliability and enduring commitment to serving the crypto community.
Security Methods: The exchange employs advanced security measures including the use of cold storage for the majority of assets, two-factor authentication, and cutting-edge encryption technology. These protocols ensure a high level of security, safeguarding user funds against potential threats.
Reputation and Reviews: Over the years, Blockchain.com has built a solid reputation within the cryptocurrency community. Positive user reviews frequently highlight the platform's reliability, security, and ease of use, which reinforces its status as a trusted exchange.
Trading Volume and Liquidity: Blockchain.com supports a significant trading volume and liquidity, making it a preferred platform for traders looking for a seamless trading experience without the risk of market manipulation. High liquidity ensures that trades can be executed quickly and at desired prices.
Transparency: Blockchain.com is known for its transparent operations, providing users with detailed information on transactions, fees, and the security measures in place. This level of openness is crucial in building trust and credibility among users.

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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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Blockchain Access UK Ltd.

Dunamu Inc.

Regulation

Not regulated

Regulated in Corea del Sur

Year founded

2011

2017

Founder

Ben Reeves (parte del equipo original de Coinbase también)

Song Chi

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Blockchain.Com	FEATURES	Upbit
Blockchain.com allows users to start trading with a relatively low minimum, accommodating smaller budgets.	Minimum Trade	Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Fees are somewhat higher than competitors, which could be a deterrent for high-frequency traders.	Trading and Transaction Fees	The fees are competitive but the structure can be complex and confusing for new users.
Supports a wide range of popular cryptocurrencies, providing good options for diversification.	Number of Cryptocurrencies	Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Offers a solid variety of trading pairs, allowing users to trade popular crypto combinations easily.	Crypto-to-Crypto Trading Pairs	Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
The platform is highly transparent about its operations, fees, and security measures.	Website Transparency	Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
While Blockchain.com provides a robust platform for trading and wallet services, the lack of a branded exchange card limits the flexibility for users to spend and earn rewards directly from their cryptocurrency holdings in everyday transactions.	Credit/Debit Card	Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Provides secure storage options including cold storage, ensuring high safety for user assets.	Storage Offering	Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Limited options for staking and rewards, which could be improved to enhance user investment benefits.	Staking and Rewards	Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Both mobile and desktop platforms are user-friendly and well-designed, offering seamless trading experiences.	Mobile App and Desktop	Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Customer support is available but response times and effectiveness can vary, indicating room for improvement.	Customer Service	Available and responsive, though some users report delays during peak times, which could be improved.
Efficient deposit and withdrawal processes, though some users may find the options somewhat limited.	Deposit and Withdraw	Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.

Key features

Analysis tools

Price tracking, but limited technical analysis tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

Blockchain wallet, lending services, staking, institutional services

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

Anonymity

Yes

Key points

Available cryptocurrencies

40+

200+

User-friendliness

Offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides essential features without overwhelming new users.

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

Offers reasonable value for money with competitive fees and a strong focus on security, though it may lack some advanced trading features.

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

Global, including United States, Canada, United Kingdom, Australia, Germany

South Korea, Singapore, Indonesia, Thailand

Best for

Best for traders who prioritize security and want a straightforward platform with competitive fees.

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

Base currencies available

USD, GBP, EUR, BTC

KRW, BTC

Account

Trading

Blockchain.com provides a secure trading platform with a good selection of cryptocurrencies. It is easy to use but has higher fees compared to some competitors.

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

Blockchain.com offers multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with low fees.

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

Account opening process

Blockchain.com offers a straightforward and user-friendly account registration process. Users need to provide personal information, verify their identity, and the account is usually approved within a day.

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

Blockchain.com offers customer support through email and live chat. The support team is responsive, but the absence of phone support and limited availability can be a disadvantage.

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

Blockchain.com offers strong security features like 2FA, encryption, and cold storage. However, it is not regulated by 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 on our website, I recommend Blockchain.com for those who prioritize security and a user-friendly trading environment. It’s particularly suitable for new entrants to the cryptocurrency market, thanks to its intuitive interface and robust security measures. However, potential users should be aware of its higher transaction fees and mixed customer service reviews, which are areas the platform could improve to enhance the overall user experience.

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.

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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.