Comparison of Upbit vs Coinex [ 2024 ]

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

Your expert: Alejandro Borja

Upbit

Your expert: Xavier Tarrasó

Coinex

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5

≤0,20%

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.

4.0 – Competitive fees with additional benefits for token holders.

Level

≈ 0,20%/0,25%

≤0,20%

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.

CoinEx employs a straightforward and transparent fee structure that appeals to a broad range of traders. The platform charges a flat trading fee of 0.2% per transaction, which is competitive within the industry. This rate applies uniformly to both makers and takers, simplifying the trading process and making it easier for users to understand their potential costs. Additionally, CoinEx offers tiered discounts based on the trading volume and CET holdings, allowing active traders to significantly reduce their fees. This approach not only incentivizes more trading activity but also enhances loyalty to the platform. Overall, the fee policy at CoinEx is designed to support both casual and serious traders effectively.

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.

Coinex

Security Methods: CoinEx uses an advanced multi-tier, multi-cluster system architecture and a strong set of security protocols to protect users' data and assets.
Customer Service: CoinEx provides 24/7 customer support and has a comprehensive FAQ and support system, helping users resolve their issues quickly and efficiently.
Reputation and Reviews: CoinEx has maintained a positive reputation within the crypto community, often praised for its user-friendly interface and robust security measures.
Transparency: CoinEx is known for being upfront about its trading fees, wallet maintenance, and system upgrades, contributing to a transparent trading environment for its users.
Volume Managed and Trading Volume: CoinEx supports a significant trading volume and liquidity, making it a reliable choice for executing large trades without a major impact on the market price.

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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.

ViaBTC Technology Limited

Regulation

Regulated in Corea del Sur

Not regulated

Year founded

2017

Founder

Song Chi

Haipo Yang

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Upbit	FEATURES	Coinex
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.	Minimum Trade	CoinEx allows for relatively low minimum trade 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	Fees are competitive but not the lowest in the market, impacting frequent traders.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Offers a wide selection of over 500 cryptocurrencies, providing vast trading opportunities.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.	Crypto-to-Crypto Trading Pairs	Extensive range of trading pairs, allowing for versatile trading strategies.
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 on fees and policies but could improve on educational content.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.	Credit/Debit Card	CoinEx does not currently offer a branded card for customers to use for in-store purchases or benefits.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.	Storage Offering	Offers secure storage options, including cold storage, though details can be more transparent.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.	Staking and Rewards	Provides staking options with competitive rewards, though not as high as some specialized platforms.
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 platforms are highly rated for their usability and feature set.
Available and responsive, though some users report delays during peak times, which could be improved.	Customer Service	Responsive but sometimes slow, especially during high demand periods.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.	Deposit and Withdraw	Efficient processes with multiple crypto options, though limited fiat options impact the score.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic to intermediate charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

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

Margin trading, futures trading, staking, CoinEx token (CET) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

200+

100+

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.

CoinEx 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 diverse range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

South Korea, Singapore, Indonesia, Thailand

United States, United Kingdom, Canada, Australia, Singapore

Best for

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

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

KRW, BTC

USD, BTC, 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.

CoinEx provides a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but has moderate liquidity compared to larger exchanges.

Deposit and withdrawal

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

CoinEx supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, 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.

CoinEx offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking 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.

CoinEx offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support 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.

CoinEx offers robust security features, including 2FA and cold storage. However, it is not regulated by 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 an expert closely observing the cryptocurrency exchange landscape, I find CoinEx to be a commendable platform for both novice and experienced traders. Its expansive selection of cryptocurrencies caters well to those looking to diversify their portfolios beyond the mainstream offerings. The user interface, designed with clarity in mind, ensures that even those new to crypto trading can navigate and execute trades with ease. However, it’s important for users to be aware of the customer support response times, which, while reliable, can experience delays during peak times. This understanding should prepare traders to manage their trading activities effectively, keeping in mind the support dynamics. Overall, CoinEx’s robust security measures and competitive fee structure make it a worthy contender in the crowded market of cryptocurrency exchanges.

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How do we review crypto exchanges?

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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 Coinex [ 2024 ]

Upbit

Coinex

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Upbit

Coinex

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 Coinex