What users say about Upbit: key reviews and impressions
Upbit is South Korea’s largest crypto exchange and a frequent subject of mixed opinions. In this review, we systematize real user feedback on Upbit from international platforms and Korean forums to fairly assess strengths and recurring pain points — from KYC and withdrawal holds to support quality, interface, and the mobile app.
Goal: surface the real Upbit trading experience — what users praise most, where they run into friction, and how to avoid common mistakes. No marketing — only verified facts and patterns that repeat across reviews and user stories.
Snapshot of user ratings and sentiment
Positive feedback from traders centers on reliability and overall UX.
Negative scores are typically tied to verification and compliance procedures.
Methodology and sources
Observation window: the last 12 months of user reviews and discussions on specialist platforms.
Sources: English- and Korean-language trader feedback — forums, Reddit, Trustpilot, App Store and Google Play — plus expert reviews with verifiable facts on interface, fees, and features.
Filtering: removed duplicates, one-word emotional posts, and spam. The final sample retains only meaningful cases: what the user did, what the exchange requested, and how it ended.
Classification: six themes — sign-up & interface, deposits/withdrawals, fees & trading, reliability & security, support, mobile app.
Limits: reviews reflect subjective experience; we look for recurring patterns rather than treating single incidents as universal.
Upbit at a glance
| Parameter | Notes |
|---|---|
| Platform type | Spot-only; no derivatives or margin; primary focus on the KRW market. |
| Trading fees | KRW pairs ≈ 0.05%; BTC/USDT pairs ≈ 0.25% (maker/taker). Fixed and transparent. |
| Crypto withdrawals | Network-dependent. Examples: BTC — 0.0005 BTC, ETH — 0.01 ETH. Fiat cash‑out is instant within Korea. |
| Mobile app | Available on iOS and Android. Full web parity, strong stability, average rating ~4★. |
| Support | Phone and ticketing for residents; KakaoTalk chatbot. English support is available but limited. |
| Audit & reserves | Regular Proof‑of‑Reserves and partnership with BitGo. Security hardened after the 2019 incident. |
Review summary by category
| Category | Praised most | Pain points | Complaint frequency |
|---|---|---|---|
| Sign‑up & interface | ⚡ Fast onboarding for residents; 📈 built‑in TradingView charts | 🧾 Multi‑step KYC; 🌐 language barrier | High |
| Deposits & withdrawals | 💸 Fast KRW transfers; 🔗 broad network choice for withdrawals | ⏸️ AML holds; 🏦 local bank account required | High |
| Fees & trading | 💱 Transparent pricing; 📊 high liquidity on top pairs | 🎟️ No volume/token discounts; 💎 withdrawal fees vary by network | Low–medium |
| Reliability & security | 🛡️ Regulated venue; 🔒 2FA and cold storage | 🧯 Strict AML triggers; 🧠 references to the 2019 hack | Medium |
| Support | 📞 Phone + tickets; 💬 KakaoTalk chat | 🌍 Limited English coverage; ⏳ templated replies on complex cases | Medium–high |
| Mobile app | 📱 Convenient and stable; 🔔 fast alerts | 🌐 Fewer features in Global; 🗣️ partial localization gaps | Low |
Review distribution: scores & key drivers
1–2 stars
- Withdrawal issues. A request can “hang” or show completed without funds received; almost always tied to AML review.
- Account placed on hold for verification. Activity is blocked until documents are approved; timeframes aren’t always transparent.
- Demanding KYC. Non‑residents see the document set as heavy — passport, proof of address, bank statement.
- Support doesn’t speed things up. Replies like “forwarded to the team” irritate users when funds are on hold.
- Lingering distrust. Some recall the 2019 breach, although losses were covered at the time.
3 stars
- Functionality is adequate, but the UI can feel dense for beginners.
- Most operations are fast, yet verification holds cause occasional delays.
- Fees are mid‑range, with no volume or native‑token discounts.
4–5 stars
- Stable performance. Trading runs without freezes; orders fill predictably.
- Intuitive interface and mobile app. Full functionality across devices.
- Fast transactions. KRW and common networks credit within minutes.
- Broad asset coverage. Hundreds of coins, including niche altcoins and new listings.
| ⭐ Score | 📊 Share of reviews | 💬 Main drivers |
|---|---|---|
| 1–2 stars | ~75% | AML checks, account holds, stringent KYC, templated support replies |
| 3 stars | ~10% | Good UI overall, but occasional delays and feature density |
| 4–5 stars | ~15% | Stability, transaction speed, reliability, and a solid app |
Sign‑up and interface
South Korean residents
Simple registration and instant trading access after identity confirmation via bank ID.
- Identity and account verification takes minutes.
- Bank integrations enable quick KRW deposits and withdrawals.
- Built‑in TradingView charts and an intuitive order layout.
Key point: an excellent exchange for Korea’s domestic market — localized, stable, and maximally convenient.
Experienced traders
Optimized for active spot trading — a complete toolset and a fast interface.
- Order history, alerts, portfolio, and order book — all in one screen.
- Consistent behavior across web and mobile: same logic and flows.
- Dark mode and smooth navigation with no lag.
Key point: Upbit suits active traders who value steady execution and a thoughtful UI without bloat.
Newcomers & Upbit Global users
Main friction stems from KYC and partial localization in the international app.
- Verification requires a broader document set, including a bank statement.
- Some UI elements remain Korean‑only.
- English support exists but isn’t always fast.
Key point: complete KYC and update your profile before the first deposit — the best way to avoid holds and delays at withdrawal.
Risk map: when AML checks trigger and how to avoid them
- Prepare documents in advance: passport or ID, proof of address, bank statement (or source‑of‑funds), plus screenshots of inbound transactions from the sending wallet.
- Withdrawal route: test with a small amount; save the TXID and screenshots; use popular networks (e.g., TRON, Ethereum) and avoid multi‑hop routes through third‑party venues.
- Profile & behavior: ensure name, address, and UI language match your documents. Avoid sudden changes to profile, IP, or device before large transfers.
Deposits and withdrawals on Upbit
When everything runs smoothly
Baseline transfers on Upbit are fast and predictable. The process is automated and rarely delays.
- KRW deposits and withdrawals complete within minutes thanks to bank integration.
- Crypto deposits credit after standard network confirmations.
- Clear operation statuses and ETAs are shown in the UI.
Key point: under normal conditions
When reviews kick in
The main source of user complaints is temporary withdrawal holds due to compliance (AML).
- Typical flow: withdrawal request → automated review → hold until documents are approved.
- The platform may request passport, proof of address, and a bank statement.
- Review timelines are not fixed; they depend on workload and data completeness.
- “Middlemen” offering to speed up unfreezing are scams: Upbit never charges to release funds.
Key point: timely KYC and a clean transaction trail almost eliminate the risk of a hold.
Fiat and bank linking
KRW rails require a personal bank account; the Global version has separate limitations.
- Fiat transfers are available only after full identity and account verification.
- Non‑residents may face extra KYC/AML checks even for crypto withdrawals.
- In Upbit Global fiat is unavailable, but there’s a wide choice of crypto networks for withdrawals.
Key point: if you’re a non‑resident, confirm KYC and bank requirements before funding — this helps avoid holds at withdrawal.
Withdrawal routes: choosing a network on Upbit
| Asset | Network | Pros | Notes |
|---|---|---|---|
| USDT | TRON (TRC‑20) | ⚡ Low fees, fast confirmation | Double‑check address format and any destination tags before sending |
| BTC | Bitcoin | 🛡️ Most secure; predictable confirmation times | Fees can spike during peak network load |
| ETH / USDT | Ethereum | 🔗 Broadest wallet/DeFi compatibility | Mind gas costs — the network is pricier under heavy load |
| XRP | Ripple | 💨 Very fast, minimal fees | Don’t forget the destination tag (Memo) |
| USDC | Polygon | 💎 Low fees, fast finality | Not supported by every wallet — verify compatibility |
Fees and trading experience
Trading and withdrawal fees
Upbit adheres to a transparent fee schedule: the same terms for every user, with no hidden extras.
- KRW pairs — about 0.05%; BTC/USDT — roughly 0.25% (maker/taker).
- No volume or loyalty‑token discounts — a frequent user note.
- Withdrawal fees depend on network: BTC ~0.0005 BTC, ETH ~0.01 ETH.
- Crypto and domestic fiat deposits are free and near‑instant.
Key point: simple, fixed pricing with no surprises — a major plus in traders’ eyes.
Liquidity and order execution
On spot, Upbit offers strong volumes and stable fills even under peak load.
- Tight spreads and high liquidity on core pairs.
- Integrated TradingView — convenient for charting and order placement.
- No futures or margin — lowering risk exposure for newcomers.
- Without derivatives, the interface remains simpler and more dependable.
Key point: Upbit prioritizes a steady spot market without complex instruments — ideal for long‑term and moderate‑risk trading.
Transparency and trust
Fees and rules are published openly, reducing misunderstandings and improving trust.
- Posted rates match what traders actually pay.
- No hidden fees or unexpected holds reported in reviews.
- Rare cases of higher costs relate to token delistings and are resolved via support.
- Users often call Upbit “transparent and predictable” on fees.
Key point: a clear policy and stable terms bolster
Reliability and security
Regulated and licensed venue
Upbit operates under South Korean law and follows KYC/AML standards closely — a net positive for user protection.
- Registered as a VASP under the Financial Services Commission (FSC).
- Strict compliance and identity verification requirements.
- Reviews can feel tough, but they lower fraud and money‑laundering risks.
Key point: stringent KYC/AML is less a barrier than a safeguard for security and transparency.
Lessons from the 2019 incident
After a 2019 security breach, Upbit overhauled its security stack and retained user trust.
- In 2019, attackers withdrew 342,000 ETH; losses were fully covered from company reserves.
- Introduced multisig wallets, deeper cold storage, and 24/7 transaction monitoring.
- Undergoes regular independent security audits and Proof‑of‑Reserves checks.
- No major incidents have been recorded since 2020.
Key point: the experience pushed
Global vs. local context
Upbit is synonymous with reliability domestically, while Global runs with its own limits and specifics.
- For Korean users — full support, instant KRW rails, and deep localization.
- Upbit Global doesn’t support KRW, but retains strong security and transparency.
- Non‑residents need an expanded KYC pack for full access.
- The platform is actively expanding abroad, improving English support and localization over time.
Key point: regardless of region,
What’s been improved
- 🔐 Security hardening: multisig, always‑on monitoring, stricter AML routines.
- 📱 Mobile app refresh: faster performance, higher stability, improved UX.
- 🌐 More withdrawal networks: added chains for USDT/USDC; lower fees on TRON and Polygon.
- 💬 Support workflow: quicker first responses to tickets; better templates for frequent issues.
Customer support
🤝 Strengths
Upbit is one of the few exchanges with a genuine offline support line. Users can call, open tickets, or use chat. Local clients note polite operators and reasonable response times. Main phone numbers: 1588‑5682 (Mon–Fri, 09:00–18:00) and 1533‑1111 (24/7 emergency line for financial incidents).
🤔 Challenges and limits
English‑language support is less responsive: no fully‑featured live chat, and complex tickets take longer. During reviews and holds, users report templated replies like “Your request has been escalated,” with no clear timeline — especially visible in Upbit Global.
✅ Pros
- Multiple channels: phone, tickets, chat, and KakaoTalk for local users.
- Civil operators; sensible answers for standard issues.
- A convenient account area to track tickets and statuses.
❌ Cons
- Limited English coverage and no 24/7 live chat.
- On complex cases — long “re‑routing” with no firm ETA.
- No dedicated VIP manager for high volumes.
Support ticket template
- Subject: Withdrawal review — Account [your email] — Request for timeline & required documents
- Body: “[date/time, UTC], withdrawal request [amount, network, address], status: review. All documents attached.”
- Attachments: passport/ID, proof of address, source of funds, TXID, screenshots of the originating transfer, a 3–5 bullet chronology.
- Final request: “Please confirm any missing documents and an indicative response time.”
Upbit mobile app
Functionality and ease of use
The Upbit App on iOS and Android includes the full trading and account toolkit.
- Supports trading, deposits/withdrawals, portfolio, order history, and price alerts.
- Fast, responsive interface optimized for frequent actions.
- Stable even under high load — many traders use mobile only.
- Integrated with TradingView for real‑time charting.
Key point: the mobile UI of
Security and data protection
Upbit prioritizes account and funds safety, with core protections built into the app.
- Two‑factor authentication (2FA) and biometric sign‑in (Face ID / fingerprint).
- Push alerts on logins and transactions in real time.
- Periodic session checks — part of security policy, not an app error.
- No serious data leaks have been recorded since launch.
Key point: with 2FA and biometrics enabled, the
Upbit Global: limits and localization
The Global app differs slightly from the Korean one, but retains stability and security.
- Not all coins and pairs are available outside South Korea.
- Some sections are still partially translated; localization keeps improving.
- Beginners may find the start screen dense due to many modules.
- Speed and stability in Upbit Global remain strong.
Key point: despite limits,
Case: withdrawal frozen for verification
- Prepare a complete document pack: passport/ID, proof of address, a recent bank statement, and screenshots of inbound transactions from the source.
- Open one ticket and attach everything at once: include all files in a single request. Subject: “Account frozen during withdrawal verification”.
- Update the ticket every 3–5 days, calmly asking for status. Don’t create duplicates — they slow the process.
- Check your profile: name, address, and contacts must match your documents. Fix discrepancies early.
- After unfreeze: withdraw in parts and choose a lower‑fee network (e.g., TRON for USDT).
Playbook: what to do in common scenarios
| Scenario | Actions |
|---|---|
| Withdrawal “under review” | Prepare full KYC/AML docs, open a single ticket, update every 3–5 days asking for status. |
| Wrong address or tag | Open a ticket immediately, attach TXID and screenshots, confirm network requirements and destination Memo/Tag. |
| Deposit not credited | Check network confirmations, attach hash, address, and timestamp; ask support to investigate. |
Upbit FAQ
Why are Upbit reviews so different?
What if my withdrawal is “frozen”?
Why does the exchange ask for so many documents?
Are Upbit fees high?
Can non‑residents use Upbit?
How good is the Upbit mobile app?
Who Upbit suits best
South Korean resident / KRW rails
Best conditions for users with a Korean bank account: instant KRW operations, local support, integration with national services.
- Instant KRW funding and cash‑out.
- Full support via app, phone, and KakaoTalk.
Key point: “out‑of‑the‑box” comfort — from KYC to withdrawals; Upbit is natively embedded in Korea’s financial ecosystem.
Global spot trader
Great choice if you want steady spot execution and access to rare Asia‑focused listings.
- High liquidity on top pairs and predictable fills.
- Strict KYC and bank‑account requirements to keep in mind.
Key point: complete full KYC in advance and keep a working balance on the exchange to avoid delays on verification days.
Quick glossary
KYC: identity verification — includes ID and proof of address; required for withdrawals.
AML review: request for extra documents on source of funds and transaction path; a standard security procedure.
TXID: a unique transaction hash on the blockchain, used to track and confirm transfers.
Whitelisted addresses: pre‑approved withdrawal destinations that protect against mistaken or unauthorized sends.
What Upbit users say
“Deposits and withdrawals are quick — perfect for day trading. The app feels instant and never hangs.”
— active spot trader
“Without a local bank and full KYC, Global is hard. It’s easier to pass all checks upfront so withdrawals don’t get stuck.”
— Upbit Global user
“Support replied the next day, asked for docs, and unblocked quickly. The key is to stay calm and submit everything properly.”
— user after AML review
Before funding: quick checklist
- Complete full KYC (ID + address) and ensure profile data matches your documents.
- Link your bank account if you plan to use KRW rails.
- Enable two‑factor authentication (2FA), set an anti‑phishing code, and add whitelisted withdrawal addresses.
- Run a small test transfer before the main withdrawal.
Recommendations
If speed matters most
Pre‑flight checklist before using Upbit
- Complete full KYC and ensure profile data exactly matches your documents.
- Link a bank account (if you plan to use KRW fiat).
- Enable 2FA, set an anti‑phishing code, and add withdrawal whitelists.
- Send a small test transfer before any large withdrawal.
- Keep only a working balance on the exchange; store long‑term funds in personal wallets.
Upbit: key takeaways and risks
Main conclusions from user experience: where the exchange excels, what constraints to account for, and how to reduce the chance of delays.
What works well. Users value Upbit for stability, transparent fees, and easy day‑to‑day trading. The interface is intuitive, the mobile app is reliable, and top pairs remain highly liquid. For South Korean residents, the platform is among the most convenient, with direct banking integration.
Where friction appears. Strict compliance is the main source of complaints. Non‑residents need more documents for KYC and bank verification, and withdrawal reviews can take time. English support responds slower than local lines but still resolves most cases.
Key point: