Comparison of Upbit vs Changenow [ 2024 ]

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

Your expert: Alejandro Borja

Upbit

Your expert: Xavier Tarrasó

Changenow

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5

hidden

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

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.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

≈ 0,20%/0,25%

hidden

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.

ChangeNOW simplifies the process of trading cryptocurrencies by imposing a straightforward fee structure that varies depending on the transaction and the currency pair used. Typically, ChangeNOW integrates a service fee directly into the exchange rate, which means the rates you see already include the fee, ensuring transparency and avoiding unexpected charges. The platform does not charge a separate service fee, but network fees, which are payments to miners, still apply and are necessary for the transaction to be processed on the blockchain. This fee structure makes it easy for beginners to understand the total cost of each transaction without having to navigate complex fee schedules.

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.

Changenow

Security Methods: ChangeNOW employs robust security protocols, including non-custodial transactions that ensure users retain control over their private keys, enhancing overall security.
Customer Service: Despite some feedback about needing improvements, ChangeNOW is committed to enhancing its customer support services, with initiatives aimed at providing quicker and more effective responses.
Reputation and Reviews: The platform has received positive reviews for its user-friendly interface and quick swap features, establishing a solid reputation in the cryptocurrency community.
Trading Volume and Liquidity: With support for over 200 cryptocurrencies, ChangeNOW offers high liquidity, ensuring that transactions are executed swiftly and at competitive rates.
Transparency: ChangeNOW is transparent about its fees and processes, providing users with all necessary information upfront, which helps in building trust.

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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.

ChangeNOW International Ltd.

Regulation

Regulated in Corea del Sur

Not regulated

Year founded

2017

Founder

Song Chi

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Upbit	FEATURES	Changenow
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.	Minimum Trade	ChangeNOW allows users to trade small amounts of cryptocurrencies, accommodating users who prefer to trade minimal quantities.
The fees are competitive but the structure can be complex and confusing for new users.	Trading and Transaction Fees	While fees are competitive, they can vary and be higher for certain routes or less popular coins.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Supports over 200 cryptocurrencies, providing a wide selection for trading.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.	Crypto-to-Crypto Trading Pairs	Offers a vast array of trading pairs, allowing direct swaps between a diverse range of cryptocurrencies.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.	Website Transparency	Generally transparent about fees and trading processes, but could improve accessibility of detailed information on the backend processes.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.	Credit/Debit Card	Does not provide its own exchange card for in-store purchases or benefits.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.	Storage Offering	Provides a secure, non-custodial service that doesn’t store user funds but could enhance security features or options.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.	Staking and Rewards	Limited options for staking and rewards compared to other platforms that offer comprehensive staking services.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.	Mobile App and Desktop	Both mobile and desktop interfaces are user-friendly, facilitating easy and efficient trading on any device.
Available and responsive, though some users report delays during peak times, which could be improved.	Customer Service	Customer service is available but has room for improvement in terms of response times and support quality.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.	Deposit and Withdraw	Facilitates easy and fast deposits and withdrawals but could expand the variety of accepted payment methods.

Key features

Analysis tools

Advanced charting tools, technical analysis

No significant tools, mainly a swap service

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

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

Instant crypto swaps, NOW token rewards, fiat on/off ramps, ChangeNOW API

Anonymity

Yes

Key points

Available cryptocurrencies

200+

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.

ChangeNOW offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 straightforward swapping service, making it an easy option for quick trades.

Countries of operation

South Korea, Singapore, Indonesia, Thailand

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

Best for

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

Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

KRW, BTC

BTC, ETH, USDT (varies by transaction)

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.

ChangeNOW is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

Deposit and withdrawal

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

ChangeNOW is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

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.

ChangeNOW provides a simple and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually takes less than a day to complete.

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.

ChangeNOW offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback 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.

ChangeNOW provides strong security with 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

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 a cryptocurrency analyst at our website, I’ve spent considerable time exploring and using various exchanges, and ChangeNOW stands out for its remarkable simplicity and efficiency. From my personal experience, this platform is especially well-suited for those who are new to the cryptocurrency world or those who prefer straightforward, quick crypto exchanges without the hassle of lengthy registrations. ChangeNOW’s focus on user privacy and security, without requiring personal information, provides peace of mind, making it a top recommendation for users valuing anonymity alongside ease of use. Whether you’re looking to swap small amounts or engage in more significant trades, ChangeNOW facilitates it all with commendable ease and speed.

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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 Changenow [ 2024 ]

Upbit

Changenow

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Upbit

Changenow

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 Changenow