Comparison of Upbit vs Flipster [ 2024 ]

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

flipster

Flipster

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

Investing risks losing your money

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
0%

Fees

No

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.
3.8 – Competitive fees with additional benefits for high-volume trading.

Level

≈ 0,20%/0,25%
0%

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.
Flipster operates on a competitive fee structure, making it an attractive choice for traders. The platform charges 0% trading fees for both makers and takers, which is notably lower than the industry average. This fee model allows users to maximize their trading profits without worrying about high transaction costs. Additionally, the platform offers no deposit fees, further reducing the cost of trading. Withdrawal fees are transparent and depend on the specific cryptocurrency being withdrawn, aligning with standard practices in the industry. For users interested in leveraged trading, Flipster’s fees remain competitive. The cost-effectiveness of trading on Flipster, combined with its extensive range of over 200 cryptocurrencies, positions it favorably against many other exchanges. This transparency in fee structure, coupled with the absence of hidden charges, ensures that traders can plan their strategies without unexpected costs, making Flipster a highly economical choice for both novice and experienced traders.

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

Flipster

flipster
Read upbit review
  • Year Founded: Established in 2021, Flipster has rapidly grown and demonstrated its commitment to innovation and user experience in the cryptocurrency market.
  • Customer Service: Flipster provides 24/7 customer support through live chat and email, ensuring users can get assistance whenever they need it, enhancing overall user satisfaction.
  • Security Methods: Flipster employs advanced security protocols, including two-factor authentication (2FA), cold storage for the majority of user funds, and regular security audits, ensuring a high level of protection for user assets.
  • Reputation and Reviews: Early user feedback has been largely positive, highlighting the platform’s ease of use, comprehensive trading tools, and responsive customer support.
  • Volume Managed: The platform handles significant trading volumes, indicating a high level of activity and trust among its user base.
  • Pros
  • Exceptional liquidity for altcoins.
  • Innovative Flipster Earn Pool feature.
  • Quick perpetual futures listings.
  • Cons
  • Limited options for passive income.
  • New platform, less track record.

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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.
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 Flipster
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
The minimum trade amount on Flipster is user-friendly, allowing beginners to start trading with a small initial investment.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
Flipster charges moderate fees, which are competitive but not the lowest in the market.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
Flipster offers a wide range of cryptocurrencies, providing users with ample choices for diversification.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
The platform supports several crypto-to-crypto pairs, though the selection is not as extensive as some competitors.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
Flipster maintains a transparent website with clear information on fees, terms, and supported assets.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
Credit and debit card support is available, but with higher fees compared to bank transfers.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Flipster provides secure storage options with robust security measures for users’ assets.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Staking options are available, offering moderate rewards for users who participate.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
The platform offers both a mobile app and desktop version, both of which are well-designed and user-friendly.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Customer service is responsive and available through multiple channels, though some users report occasional delays.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Deposits and withdrawals are straightforward, but fees can be higher than some other platforms.

Key features

Analysis tools

Advanced charting tools, technical analysis
Unknown

Mobile APP

Yes
No

Security

High 4,9/5
High 4/5

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Margin trading, futures trading, staking, Flipster Earn program

Anonymity

No
Yes

Key points

Available cryptocurrencies

200+
Information not readily available

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.
Flipster offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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
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.
Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, BTC
Not widely known

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.
Flipster provides a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower 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.
Flipster offers standard deposit and withdrawal methods like bank transfers and crypto deposits. 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.
Flipster offers an easy and quick account opening 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.

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.
Flipster offers customer support via 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.
Flipster employs robust security features, 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 at Threenvest, I highly recommend Flipster for its user-friendly interface and comprehensive trading options. Whether you’re new to crypto trading or an experienced trader, Flipster offers a wide range of over 200 cryptocurrencies and leverage up to 50x, making it an ideal platform to explore and maximize trading opportunities. The innovative Flipster Earn Pool is a unique feature that allows you to earn passive income on your idle funds. With robust security measures and 24/7 customer support, Flipster ensures a reliable and secure trading experience.

View all comparisons against Upbit

View all comparisons against Flipster

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 Flipster