Comparison of Upbit vs Bitvavo [ 2024 ]

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

Your expert: Alejandro Borja

upbit

Upbit

  • Threenvest valuation: 4,4/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

bitvavo

Bitvavo

  • Threenvest valuation: 4,2/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
0,15%/0,25%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
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.
4.1 – Low fees with additional discounts for high-volume traders.

Level

≈ 0,20%/0,25%
0,15%/0,25%

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.
Bitvavo’s commission structure is designed to be highly competitive, particularly appealing to both new entrants and experienced traders in the cryptocurrency market. The platform operates on a tiered fee system where the trading fees decrease as the user’s 30-day trading volume increases. Starting from 0.25% for takers and 0.15% for makers, these fees can go as low as 0.03% for takers and 0.00% for makers, depending on the trading volume. This encourages active trading and is beneficial for high-volume traders seeking to minimize costs while maximizing their trading strategies.

Upbit

upbit
Read upbit review
  • 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.
  • Pros
  • Wide range of cryptocurrencies
  • Strong security measures
  • High trading volume
  • Cons
  • Complex fee structure
  • Intimidating for beginners

Read upbit review

Bitvavo

bitvavo
Read upbit review
  • Year Founded: Established in 2018, Bitvavo has swiftly risen to prominence within the European market, demonstrating robust growth and stability in a relatively short period. This rapid development signifies strong management and a solid business model, instilling confidence in its longevity and reliability.
  • Security Methods: Bitvavo places a high priority on security with comprehensive measures to protect user assets. These include cold storage for a majority of funds, two-factor authentication, and advanced encryption technology, ensuring that users' data and funds are safeguarded against unauthorized access and cyber threats.
  • Possible Regulation: Operating from Amsterdam, Bitvavo adheres to European financial regulations, which are known for their strict standards. Compliance with these regulations not only confirms the legitimacy of the exchange but also ensures it operates under stringent oversight, enhancing user trust.
  • Reputation and Reviews: Bitvavo has cultivated a positive reputation among its users and in the broader crypto community, reflected in numerous favorable reviews. Users frequently cite the platform's user-friendly interface, low fees, and excellent customer service as major advantages, which speaks to its reliability and the quality of services offered.
  • Customer Service: Commitment to providing excellent customer support is a cornerstone of Bitvavo's operational philosophy. The exchange offers responsive support through multiple channels, ensuring that users' queries and issues are addressed promptly and effectively, which is crucial for building and maintaining trust, especially in the dynamic environment of cryptocurrency trading.
  • Pros
  • Low trading fees.
  • User-friendly interface.
  • Wide range of cryptocurrencies.
  • Cons
  • Limited to European users.
  • No educational resources.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Dunamu Inc.
Bitvavo B.V.

Regulation

Regulated in Corea del Sur
Regulated in the Países Bajos

Year founded

2017
2017

Founder

Song Chi
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Upbit FEATURES Bitvavo
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
Bitvavo allows users to start trading with small amounts, making it accessible for beginners.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
Bitvavo offers some of the lowest fees in Europe, which are transparent and competitive.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
Supports a wide variety of over 50 cryptocurrencies, catering to diverse trading preferences.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
Offers a robust selection of trading pairs, allowing for versatile crypto-to-crypto transactions.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
The website provides clear information about fees, policies, and trading options.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
While Bitvavo excels in providing a secure and user-friendly trading platform, the lack of an exchange card limits the flexibility for users to spend and gain direct benefits from their cryptocurrency holdings in everyday transactions.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Provides secure storage solutions with cold storage options for the majority of assets.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Offers staking services with rewards but has room for expansion in terms of options and higher returns.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
Both the mobile app and desktop platforms are highly user-friendly and well-designed.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Exceptional customer service with multiple channels for support and quick response times.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Efficient deposit and withdrawal processes, although improvements can be made in variety.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
High 4,9/5

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Staking, Bitvavo Earn program, API access, fiat on/off ramps

Anonymity

No
No

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.
Bitvavo features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a smooth and seamless 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.
Delivers good value for money with low trading fees and a user-friendly interface, making it an affordable choice for European traders.

Countries of operation

South Korea, Singapore, Indonesia, Thailand
Netherlands, Germany, France, Spain, Italy

Best for

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.
Great for European traders looking for a user-friendly platform with low trading fees and a diverse selection of cryptocurrencies.

Base currencies available

KRW, BTC
EUR, 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.
Bitvavo is a European exchange known for its low fees and wide range of cryptocurrencies. It offers a user-friendly interface but lacks some advanced trading features.

Deposit and withdrawal

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.
Bitvavo supports various deposit methods, including bank transfers and crypto. Withdrawals are processed within a day, with minimal fees, making it user-friendly.

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.
Bitvavo provides an easy and quick account opening process. Users need to fill out personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes
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.
Bitvavo provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can 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.
Bitvavo employs comprehensive security measures, including 2FA and cold storage. It is regulated by Dutch authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

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-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I highly recommend Bitvavo for those looking to engage in cryptocurrency trading, especially within Europe. The exchange combines low fees, a user-friendly interface, and robust security measures, making it an excellent choice for both beginners and seasoned traders. With its wide range of cryptocurrencies and effective customer support, Bitvavo stands out as a reliable platform to efficiently manage your digital assets.

View all comparisons against Upbit

View all comparisons against Bitvavo

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.

More comparatives Upbit and Bitvavo