Comparison of Upbit vs Bithumb [ 2024 ]

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

Your expert: Alejandro Borja

Upbit

Your expert: Xavier Tarrasó

Bithumb

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5

0,10%/0,15%

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

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

3.9 – Competitive fees but variable depending on the trading volume.

Level

≈ 0,20%/0,25%

0,10%/0,15%

Brief explanation

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.

Bithumb structures its trading fees to accommodate both high-volume traders and casual users, making it an attractive platform for a broad range of investors. The fee system is tiered, based on the user’s 30-day trading volume, which incentivizes frequent trading and higher volumes. Fees start relatively low compared to industry averages, with maker fees often being lower than taker fees, which benefits those who add liquidity to the market. This structure not only supports active traders but also ensures that the exchange remains competitive and accessible to newcomers. The clarity and competitiveness of these fees contribute significantly to Bithumb’s appeal in the global crypto trading landscape.

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.

Bithumb

Year Founded: Established in 2014, Bithumb has a long-standing presence in the cryptocurrency market. This longevity signifies stability and experience in handling a dynamic and sometimes volatile market, providing a solid foundation of trust among its users.
Security Methods: Bithumb has implemented robust security measures, including multi-layered security systems and regular updates to safeguard against new types of cyber threats. These rigorous security practices help ensure the safety of user funds and personal information.
Volume Managed and Trading Volume and Liquidity: Bithumb consistently ranks among the top exchanges globally in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and reliability of the platform in the eyes of a large user base.
Reputation and Reviews: The exchange has built a solid reputation over the years, backed by positive reviews from many of its users. This reputation is supported by Bithumb's responsiveness to past challenges and its ongoing commitment to improve user experience and security.
Customer Service: Bithumb offers extensive customer support with 24/7 access, including real-time assistance for resolving issues. Effective customer service enhances user trust by ensuring that assistance is readily available whenever needed, which is crucial in the fast-paced environment of cryptocurrency trading.

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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

Dunamu Inc.

Bithumb Korea Co., Ltd.

Regulation

Regulated in Corea del Sur

Year founded

2017

2014

Founder

Song Chi

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Upbit	FEATURES	Bithumb
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.	Minimum Trade	Bithumb allows relatively low minimum trades, accessible for beginners.
The fees are competitive but the structure can be complex and confusing for new users.	Trading and Transaction Fees	Fees are competitive but can be complex and vary by transaction type.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, catering to diverse trader needs.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.	Crypto-to-Crypto Trading Pairs	Provides a substantial number of trading pairs, enhancing trading options.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.	Website Transparency	Generally transparent but could improve in detailing fee structures.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.	Credit/Debit Card	Bithumb does not provide an exchange card for in-store purchases or associated benefits, which limits its utility for everyday transactions compared to some other exchanges offering this feature.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.	Storage Offering	Provides secure storage options with advanced security features.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.	Staking and Rewards	Offers competitive staking options and rewards for users.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.	Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms.
Available and responsive, though some users report delays during peak times, which could be improved.	Customer Service	Exceptional customer support with 24/7 availability and multiple languages.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.	Deposit and Withdraw	Efficient processes, though some users report delays during high traffic.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

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

Margin trading, staking, Bithumb Cash rewards, institutional services

Anonymity

Key points

Available cryptocurrencies

200+

150+

User-friendliness

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.

Bithumb provides a straightforward and user-friendly interface, making it easy for beginners to start trading cryptocurrencies. The platform’s design is clean and intuitive, facilitating a smooth trading experience.

Value for money

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

Offers good value for money with competitive fees and a wide selection of cryptocurrencies, though it may face regulatory challenges in some regions.

Countries of operation

South Korea, Singapore, Indonesia, Thailand

South Korea, United States, Canada, Australia, United Kingdom

Best for

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

Best for South Korean traders looking for a platform with a wide selection of cryptocurrencies and competitive fees.

Base currencies available

KRW, BTC

Account

Trading

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.

Bithumb is one of South Korea’s largest exchanges, offering high liquidity and a wide range of cryptocurrencies. However, it has faced security issues in the past, which could be a concern for users.

Deposit and withdrawal

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

Bithumb offers various deposit methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive but can vary depending on the method used.

Account opening process

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.

Bithumb provides a straightforward account opening process. Users need to submit personal information and verify their identity. The process is efficient and typically completed within a day, ensuring quick access to trading.

KYC required?

Yes

Customer Service

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.

Bithumb offers customer support through email, live chat, and a help center. The support team is responsive, but the lack of 24/7 availability may be a limitation for some users.

Security

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

Bithumb offers robust security features, including 2FA, cold storage, and encryption. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert on our website, I recommend Bithumb for traders looking for a robust platform with a wide selection of cryptocurrencies and high liquidity. Its user-friendly interface makes it accessible for beginners, while the depth of its market and security measures provides peace of mind. However, potential users should be aware of its complex fee structure and ensure they understand the costs associated with trading on this platform. Overall, Bithumb is a solid choice for those looking to dive into the dynamic world of cryptocurrency trading.

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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.

Comparison of Upbit vs Bithumb [ 2024 ]

Upbit

Bithumb

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Upbit

Bithumb

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Upbit and Bithumb