Comparison of Upbit vs Cryptology [ 2024 ]

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

cryptology

Cryptology

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

Investing risks losing your money

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
≤0,20%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

No

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 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.
Cryptology employs a transparent and competitive fee structure designed to cater to traders of all levels. The platform uses a progressive fee system where trading fees decrease with higher trading volumes over a 30-day period. For trading volumes under €50,000, both market makers and takers are charged a flat 0.20% fee. As trading volumes increase, fees can drop to as low as 0.016% for makers and 0.018% for takers for volumes exceeding €10,000,000. Deposit fees are generally non-existent, except for certain fiat deposits via debit or credit cards, which incur fees ranging from 1.7% to 2.65%. Withdrawal fees are asset-dependent, with Bitcoin withdrawals, for example, subject to a 0.0005 BTC fee .

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

Cryptology

cryptology
Read upbit review
  • Security Methods: Cryptology employs industry-standard encryption protocols, cold storage solutions, and two-factor authentication (2FA) to ensure the safety of user funds and data .
  • Year Founded: Established in 2017, Cryptology has a proven track record in the cryptocurrency market, demonstrating stability and growth over the years .
  • Regulation: The exchange is registered in Estonia and regulated by the Estonian Financial Intelligence Unit (FIU), ensuring compliance with international financial regulations .
  • Customer Service: Cryptology offers 24/7 customer support through various channels, including email and live chat, enhancing user satisfaction and resolving issues promptly .
  • Reputation and Reviews: Cryptology has generally positive reviews from users, highlighting its reliability, user-friendly interface, and efficient trading environment .
  • Pros
  • Solid major cryptocurrency selection.
  • Advanced trading tools available.
  • User-friendly mobile app.
  • Cons
  • Limited altcoin selection.
  • High trading and withdrawal fees.

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Dunamu Inc.
Cryptology Asset Group Pte Ltd

Regulation

Regulated in Corea del Sur
Not regulated

Year founded

2017
2018

Founder

Song Chi
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
Yes

Wire transfer

Yes
No

Card

Yes
Yes

Comparative table

Upbit FEATURES Cryptology
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
Cryptology allows users to start trading with a minimal amount, 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. The fee structure benefits high-volume traders but could be more advantageous for smaller trades .
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
The exchange offers a wide selection of cryptocurrencies, providing ample choices for diverse trading strategies .
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
Cryptology has numerous crypto-to-crypto pairs available, facilitating versatile trading opportunities and allowing traders to diversify their portfolios .
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
The website is highly transparent, providing detailed information about fees, security measures, and company policies. This transparency helps build trust with users ​​.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
Cryptology does not provide an exchange card for in-store purchases.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Cryptology provides secure storage options, though it could improve by offering more detailed information on security protocols and insurance coverage for stored assets .
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
The exchange offers staking options, but the rewards programs are not as extensive as those of some competitors. Enhancing the rewards system could attract more users looking for passive income opportunities .
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
The platform is available on both mobile and desktop with robust features, though some users report minor usability issues on the mobile app. Continuous updates and improvements can enhance the user experience further.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Customer service is responsive but could benefit from 24/7 support availability. Providing more channels for support and ensuring round-the-clock service would greatly improve user satisfaction.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Cryptology offers various methods for deposits and withdrawals with reasonable processing times and fees. This flexibility makes it easier for users to manage their funds efficiently.

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
Margin trading, futures trading, staking, Cryptology Earn program

Anonymity

No
Yes

Key points

Available cryptocurrencies

200+
50+

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.
Cryptology offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to provide a seamless trading experience with all necessary features easily accessible.

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 not have the lowest fees compared to some competitors.

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.
Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, BTC
EUR, USD, RUB, 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.
Cryptology offers a good selection of cryptocurrencies and competitive fees. It has a user-friendly platform but lacks some advanced trading 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.
Cryptology supports various deposit 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.
Cryptology provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

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.
Cryptology provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support 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.
Cryptology employs standard 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 in cryptocurrency exchanges, I find Cryptology to be a secure and reliable platform, especially suitable for traders who prioritize security and transparent fee structures. The exchange offers competitive trading fees that decrease with higher trading volumes, which benefits active traders. Additionally, Cryptology’s commitment to security through industry-standard encryption, cold storage solutions, and two-factor authentication (2FA) provides peace of mind for users concerned about the safety of their funds. While the platform excels in these areas, it does have some limitations. The selection of altcoins is relatively limited compared to other exchanges, which might not appeal to traders looking for a broader range of digital assets. Furthermore, there have been reports of customer support issues, indicating a need for improvement in responsiveness and service quality. Overall, Cryptology is a strong choice for traders focusing on major cryptocurrencies and seeking a secure trading environment. Enhancing altcoin variety and improving customer support would further solidify its standing in the competitive cryptocurrency exchange market.

View all comparisons against Upbit

View all comparisons against Cryptology

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 Cryptology