Korbit Review 2024

Our veredict

Korbit is a South Korean cryptocurrency exchange that has been active since 2013. It stands out due to its well-organized platform, a large selection of cryptocurrencies, and advanced trading features such as limit orders, stop orders, and OCO orders. Korbit also offers unique services like an NFT marketplace and ETH 2.0 staking, making it a versatile platform for crypto enthusiasts. However, it primarily focuses on the South Korean market, which may limit its appeal to international investors.

While Korbit provides robust security measures and a competitive fee structure, its heavy emphasis on the Korean won (KRW) and the South Korean market can be seen as a drawback for those outside of Korea. Additionally, the need for extensive verification for higher-tier services may be a hurdle for some users. Despite these limitations, Korbit remains a strong choice for South Korean users due to its comprehensive features and reliability.

Pros

Wide Range of Cryptocurrencies Korbit supports a large selection of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others, allowing users to diversify their investment portfolios.
Competitive Trading Fees With trading fees set at 0.15% for both makers and takers, Korbit offers highly competitive rates, making it an affordable choice for frequent traders.
Strong Security Measures Korbit employs robust security protocols, including multi-factor authentication and advanced encryption, ensuring the safety of user funds and personal information.

Cons

3,5

Threenvest Score

Fees

0.08% (Maker), 0.20% (Taker)

U.S Legal

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Why choose Korbit?

Korbit stands out as a leading cryptocurrency exchange in South Korea, offering a robust platform for trading and managing digital assets. One of its strongest points is the wide range of cryptocurrencies available for trading, including popular options like Bitcoin, Ethereum, and many altcoins. This diversity allows users to explore and invest in various digital assets according to their preferences and market trends.

Another significant advantage of Korbit is its competitive fee structure. With trading fees set at 0.15% for both makers and takers, Korbit offers some of the lowest fees in the industry. This affordability makes it an attractive option for both novice and experienced traders looking to minimize their trading costs. Additionally, the platform provides free deposit options and very competitive withdrawal fees, further enhancing its cost-effectiveness.

Korbit also excels in security and innovation. The platform has implemented robust security measures, including multi-factor authentication and advanced encryption, ensuring the safety of user funds and personal information. Moreover, Korbit’s innovative features, such as the NFT marketplace and ETH 2.0 staking, provide users with additional opportunities to engage with the evolving crypto market. These features, combined with Korbit’s solid reputation and regulatory compliance, make it a reliable and forward-thinking choice for cryptocurrency trading.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend Korbit for its comprehensive features and strong security measures. Korbit offers a wide variety of cryptocurrencies, competitive fees, and innovative options like NFT trading and ETH 2.0 staking. It’s particularly well-suited for South Korean users due to its focus on the local market and regulatory compliance. Despite its limitations for international users, Korbit remains a top choice for those looking to trade securely and efficiently within South Korea.

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.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.