Comparison of Upbit vs Buyucoin [ 2024 ]

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

BuyUCoin

Buyucoin

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
0,24%

Fees

Si

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

Si

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.
3.7 – Reasonable fees but higher for certain payment methods.

Level

≈ 0,20%/0,25%
0,24%

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.
BuyUcoin charges a flat trading fee of 0.24% for each transaction, which is relatively competitive within the Indian cryptocurrency market landscape. This fee applies equally to both makers and takers, simplifying the cost structure and making it easy for users to understand exactly how much they will be charged per trade. This transparency in fee structure is a significant advantage, as it helps users plan their trading activities without worrying about variable costs or hidden charges. In addition to trading fees, BuyUcoin also implements withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally in line with industry standards, although they may be slightly higher for certain assets. Importantly, there are no deposit fees, which makes it economical for users to fund their accounts. Overall, the cost of trading on BuyUcoin is balanced by the convenience and range of features it offers, making it an attractive option for both new and experienced traders in the Indian market.

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

Buyucoin

BuyUCoin
Read upbit review
  • Security Measures: BuyUcoin employs robust security protocols including SSL encryption, two-factor authentication (2FA), and cold storage of digital assets, ensuring that user funds and data are protected against unauthorized access.
  • Volume and Liquidity: BuyUcoin handles a significant trading volume, ensuring liquidity that facilitates easier and faster transactions without substantial price volatility, which is critical for both new and experienced traders.
  • Regulatory Compliance: Operating within the legal framework of India, BuyUcoin adheres strictly to the regulatory requirements set forth by Indian authorities, which reinforces its legitimacy and trustworthiness.
  • Transparency: BuyUcoin maintains transparency in its operations with clear information on trading fees, withdrawal charges, and other pertinent operational procedures, enabling users to make informed decisions.
  • Customer Service: The exchange is committed to providing quality customer service with a comprehensive support system that includes FAQs, email support, and social media engagement, ensuring that user inquiries and issues are addressed promptly.
  • Pros
  • Low fee structure.
  • Own NFT marketplace.
  • Virtual demo account option.
  • Cons
  • Restricted to Indian investors only.
  • Higher than average trading fees.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

No
No

Earns

Yes
Si

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Dunamu Inc.
iBlock Technologies Private Limited

Regulation

Regulated in Corea del Sur
Not regulated

Year founded

2017
2016

Founder

Song Chi
Shivam Thakral, Devesh Aggrawal, Atulya Bhatt

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Upbit FEATURES Buyucoin
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
BuyUCoin allows users to start trading with relatively 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
The platform offers competitive trading fees, although they can be higher compared to global standards, impacting high-volume traders.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
Supports over 40 cryptocurrencies, providing a decent range for traders looking to explore different digital assets.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
BuyUCoin offers a moderate number of crypto-to-crypto trading pairs, sufficient for new traders but limited for advanced users.
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 essential information; however, some users may find details on fees and specific policies need clearer presentation.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
While BuyUcoin provides a range of innovative cryptocurrency services and trading options, the absence of a branded exchange card limits the convenience and utility for users seeking to spend cryptocurrency directly in stores or to enjoy additional cardholder benefits.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
BuyUCoin offers a secure wallet service for storing cryptocurrencies, although it’s not as feature-rich as some dedicated wallet services.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Currently lacks options for staking and earning rewards, which could enhance user engagement and investment 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 platform are user-friendly, providing a seamless trading experience across devices.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Slow response times have been a notable issue; improvements are needed to provide timely and effective support.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
BuyUCoin supports a variety of deposit and withdrawal methods, including direct bank transfers and UPI, though international options are limited.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

Yes
No

Security

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

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Staking, BuyUCoin Cash rewards, recurring buys, OTC trading

Anonymity

No
No

Key points

Available cryptocurrencies

200+
30+

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.
BuyUCoin features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

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 reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

South Korea, Singapore, Indonesia, Thailand
India, United States, United Kingdom, Canada, Australia

Best for

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.
Suitable for Indian investors and other traders looking for a user-friendly platform with competitive fees.

Base currencies available

KRW, BTC
INR, USDT

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.
BuyUCoin is an Indian exchange with a good range of cryptocurrencies and easy fiat integration. It has competitive fees 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.
BuyUCoin offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

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.
BuyUCoin provides an easy account registration process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

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.
BuyUCoin offers customer support through email and live chat. The support team is responsive and helpful, but the absence of phone support and limited hours can be a limitation.

Security

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.
BuyUCoin employs standard security measures, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some 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 reviewer on our website, I recommend BuyUCoin for Indian investors looking to enter the cryptocurrency market. Its user-friendly interface, combined with a diverse selection of cryptocurrencies and innovative features like a virtual demo account and NFT marketplace, makes it an appealing choice. However, potential users should be aware of its limited international accessibility and slower customer service, which could impact trading efficiency and user satisfaction. Overall, BuyUCoin is a solid choice for those based in India seeking a comprehensive crypto trading and investment platform.

View all comparisons against Upbit

View all comparisons against Buyucoin

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 Buyucoin