Here at DC Forecasts, as one of the leading crypto news sites in the field are always motivated to give you the best information served on your plate. On top of the best news, here are some of the best Bitcoin exchanges you can find in South Korea.
Youbit is a very popular exchange since it reached all crypto news for getting hacked. The exchange was hacked for more than 3,000 bitcoins, but later the exchange came in stronger and beat the rumors about going bankrupt. They have a new management and are running as one of the favorite platforms in South Korea.
Coinlink is a Korean bitcoin exchange run by a coal-selling company. The platform is reliable and secure and wants to build an improved global network for crypto exchanges. They made a lot of partnerships and plan to expand to Japan, China, and the US.
Zeniex was founded this year and works as a Korean-Chinese partnership. Here, users can buy and sell cryptocurrencies since all major Korean banks don’t approve bank accounts for crypto trading.
GOPAX or Global Online Professional Assets Exchange and it is a fairly new exchange on the market. They opened in late 2017 and partnered with a Korean bank soon after. Users can register and trade the very same day. The platform is very easy to use and there are no transaction fees.
This crypto exchange is very popular in Korea having more than 500,000 members and a very broad spectrum of cryptocurrencies to choose from. Bitcoin is among the most traded coins on CoinNest but the second most favorite is Tron.
Coinplug is a great Bitcoin exchange that offers a very fast way to buy small accounts of Bitcoin. You can purchase bitcoin with a credit card or using your phone number.
Korbit was the first bitcoin exchange in South Korea and it’s among the top 5 most popular ones in Korea. It’s very user-friendly and offers very low fees and high-security levels. However, this year, Korbit banned all citizens outside of Korea from depositing local currency.
This is an exchange that is focused mostly on Bitcoin and has an 8% market share in Korea. They have more than 100 employees and more than 600,000 users. They are also planning on providing insurance services.
Bithumb is dominating the crypto exchange market in Korea. Bithumb holds more than 33% of the market share and constantly add cryptocurrencies such as Litecoin and Bitcoin Cash. Also, they want to expand their services to the kiosk venture and make easy for customers to use digital currencies daily.
Upbit holds a stunning 53% market share in Korea and has over 100 cryptocurrencies available. They also made a great partnership with Bittrex and are now planning to launch a new global cryptocurrency.
It’s important to know that you can buy bitcoins via LocalBitcoins in person. It’s very popular in South Korea as well. It’s private and very simple to use. Keep in mind that in-person trading can potentially be a scam and it’s also harder to buy larger amounts of bitcoins.
12. Mycelium Local Trader
Mycelium helps you to find all the local bitcoin sellers in your area. There are no fees involved but the one major downside is that users in low populated areas will have a hard time finding sellers since you meet up in person to conduct the trade. It’s easy to use and cheap to buy bitcoin with cash.
Bitcoin-OTC is a p2p marketplace for people to carry out over-the-counter trading. The trading is done between two parties directly using the system called ‘’Web of Trust’’. They have acceptable rates and accept multiple currencies. However, it can be a little difficult to use for beginners.
CEX.IO started as a cloud mining provider in the crypto space. Later their operations expanded in the exchange sector and abandoned cloud operations completely. You can purchase bitcoin via their website, mobile app and WebSocket API. They offer a rate of 3.5% and don’t have pesos available but they do accept USD and EUR.
With Changelly you can buy bitcoin for other cryptocurrencies such as Dogecoin or Litecoin. They operate in many countries around the world but you will need another cryptocurrency to buy bitcoin. Exchanges happen in seconds and the fees are really reasonable.
Coinbase is known to be the best exchange out there so it’s no wonder that it’s here on this list as well. Their interface is surely among the best ones and offers multiple ways of payment including credit cards and bank transfers. It’s really easy to sign up and their app is also extremely user-friendly. However, the verification process can take a long time and the fees are a little higher.
Coinbase PRO is one of the largest Bitcoin exchanges in the U.S but also very popular in Australia as well. Users can purchase bitcoin via bank transfer or bank wire. Coinbase PRO has decent prices and low fees but it can be a little difficult to use for beginners. You can buy bitcoins here for exactly 0 percent fees.
Paxful is a rather similar type of exchange such as LocalBitcoins. It works only with bitcoin and uses the same ad method as LocalBitcoins. The difference is that the sellers pay only a 1% fee. However, their customer support is really slow because of the high number of users.
Remitano offers an online space for buyer and sellers to transfer bitcoins between themselves. There’s no need for ID verification and you can use pesos. But, only small purchases are available and there’s a lot of scam potential because of KYC policies.
Luno is a great exchange platform that makes trading Bitcoin and Ethereum against fiat currencies possible. Luno allows bank transfers with very low fees of .25%. Also, what’s cool about it is that Luno has its own Android app which you can also find it on the Apple Store too so it’s easy to buy and trade for both iOS and Android users.
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