Comparison of Upbit vs Coinw [ 2024 ]

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

coinw

Coinw

  • 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
0.20%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

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 – Reasonable fees with additional benefits for high-volume trading.

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.
CoinW maintains a competitive and transparent fee structure tailored to benefit both casual and active traders. The exchange charges a base rate of 0.2% for both makers and takers, which can decrease significantly with increased trading volume thanks to their tiered fee system. This system not only incentivizes frequent trading but also rewards high-volume traders with even lower rates, making it an attractive option for those looking to execute large transactions. Additionally, CoinW does not charge different fees between takers and makers, simplifying the cost calculations for traders and providing a clear, straightforward trading cost framework.

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

Coinw

coinw
Read upbit review
  • Security Methods: CoinW implements advanced security protocols including bank-level risk control systems and real-time reconciliation processes. This ensures that users' assets are protected against unauthorized access and potential cyber threats.
  • Regulation Compliance: CoinW operates with a compliance-first approach, adhering to international financial regulations. This commitment to regulatory standards enhances its trustworthiness and ensures a secure trading environment for its users.
  • Trading Volume and Liquidity: CoinW manages a significant trading volume, providing high liquidity which is essential for executing trades quickly and at desired prices. This high liquidity also reflects the trust and activity level of its large user base.
  • Customer Service: Despite some limitations in direct support channels like phone service, CoinW provides 24/7 customer support through its online channels, ensuring that user queries and issues are addressed promptly and effectively.
  • Reputation and Reviews: CoinW has earned positive acclaim within the industry, being recognized as the best rising star by Crypto Expo and the best exchange in Asia by Crypto 306. These accolades underscore its credibility and reliability in the competitive crypto exchange market.
  • Pros
  • Low transaction fees.
  • Extensive crypto asset variety.
  • Robust security protocols.
  • Cons
  • Limited customer support options.
  • Lacks 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.
Unknown

Regulation

Regulated in Corea del Sur
Not regulated

Year founded

2017
Unknown

Founder

Song Chi
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Upbit FEATURES Coinw
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
CoinW offers low minimum trade thresholds, making it accessible for beginners and those with smaller budgets to engage in trading.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
CoinW maintains competitive trading fees, starting at 0.2% for both makers and takers, which decrease with higher trading volumes.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
With over 1,000 cryptocurrencies available, CoinW provides a vast array of trading options, catering to diverse investor interests.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
The platform supports numerous crypto-to-crypto trading pairs, offering significant flexibility and opportunities for arbitrage.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
CoinW provides clear information on its fees and policies, although improvements can be made in disclosing full details on security practices and fund storage.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
CoinW lacks an exchange card for in-store purchases.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
CoinW uses cold storage for the majority of its funds, enhancing security but details on the extent and management of these storages could be more transparent.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
The exchange offers staking and rewards programs, but more detailed information and wider variety of options could improve user engagement.
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 of CoinW are user-friendly and reliable, though occasional updates and feature enhancements would provide a smoother experience.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
While available 24/7 via chat, the lack of phone support and sometimes delayed responses are areas needing improvement.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
CoinW offers multiple deposit and withdrawal methods, but the addition of fiat currency options could significantly enhance user convenience.

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
Margin trading, futures trading, staking, CoinW Earn program

Anonymity

No
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.
CoinW 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.
Provides decent 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
United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Base currencies available

KRW, BTC
CNY, 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.
CoinW provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers 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.
CoinW supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, 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.
CoinW offers an easy and quick account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
No

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.
CoinW offers customer support through email and live chat. The support team is responsive, 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.
CoinW employs comprehensive security measures, including 2FA and cold storage. 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 closely following the cryptocurrency exchange landscape, I’d like to share my insights on CoinW. This platform stands out primarily for its extensive selection of cryptocurrencies, accommodating over 1,000 different types, which makes it an attractive choice for traders looking to explore a variety of crypto assets. CoinW’s security measures are stringent, providing users with peace of mind when trading. Furthermore, their customer service is accessible 24/7 through chat, ensuring that assistance is always just a message away, although expanding support options could enhance user experience. In summary, if you’re seeking a platform with a wide array of trading options and solid security, CoinW is certainly worth considering.

View all comparisons against Upbit

View all comparisons against Coinw

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 Coinw