Cryptocurrency Tools: UpBit

You are currently viewing Cryptocurrency Tools: UpBit

Launched in 2017, UpBit has become one of the largest cryptocurrency exchanges in the world by average daily trading volume. The exchange was founded in South Korea by Song Chi-Hyung, one of the country’s wealthiest businessmen.

At the peak of December 2017’s cryptocurrency mania, Upbit’s average trading volume reached $4.5 billion a day, with a one-day record of $11 billion.

The only Fiat currency that UPbit currently supports is the South Korean Won, in which deposits can be made in and out of South Korean bank accounts. As a result of the partnership with Bittrex, UPbit offers a very wide range of cryptocurrency coins and tokens, with over 100 listed. Almost all of the top 100 cryptocurrencies by market cap are available, as well as some outside of that.

UPbit does not charge any fees on deposits and while withdrawal fees vary depending on the cryptocurrencies being withdrawn, or in Won to a bank account, they are not high. Trading fees are roughly in line with most South Korean exchanges and are set at 0.25% for both takers and makers.

UPbit has significant cybersecurity. Wallets are secured by BitGo, widely recognized as the global standard in multi-signature wallets, and favored by many of the leading cryptocurrency exchanges internationally. Account security is in partnership with Kakao Pay, the mobile payments app owned by partner Kakao Corp., and a leader on the South Korean market, second only to Samsung Pay. It’s safe to say that Upbit’s cybersecurity standards are hard to beat.

The exchange provides customer support through email, a telephone number and also KakaoTalk, the popular messaging app owned by Kakao. Support levels have a generally good reputation with plenty of agents on hand to respond to inquiries or difficulties and an extensive FAQ section is also provided.

It’s not by coincidence that UPbit has become the biggest cryptocurrency exchange in the world and, according to CoinMarketCap data, the fifth largest in the world by daily turnover within a matter of months.

From a technology and security point of view, UPbit has few rivals and the range of tradable coins is also up there with the best. The one drawback is that UPbit is very much a South Korean exchange and setting up an account and trading is difficult for anyone of a different nationality.

Protecting Your Cryptocurrency And Staying Safe on UpBit

Cryptocurrency and the blockchain stand to be a major driving factor in the technology of the future. However this popularity has attracted an element of cybercrime. There are several tools internet users should use to increase their online protection. One of these tools is SaferNet.

SaferNet is the perfect solution to the cybersecurity issues that individuals, families, and businesses face today. It not only connects every device using a secure, 24/7 always on, military grade VPN, but it also stops outside cyberthreats, malware and viruses as well. On SaferNet, all users are protected anywhere in the world, all the time, on any cellular or Wi-Fi network. In addition to SaferNet’s VPN and cyber protection, it also offers a range of employee or parental/family internet controls including internet filtering, monitoring, scheduling, and blocking access to websites or even entire website categories

Typically, a user would need 3 separate services for a VPN, Malware Protection, and Internet Controls; SaferNet offers all 3 features in one service. SaferNet truly is an endpoint security presence that can be implemented in minutes around the world, on phones, laptops, tablets, and computers at an economical price point that caters to all internet users. SaferNet guarantees a smooth setup and installation process that takes only minutes, and an easily accessible control hub for you to monitor all your employee’s or family members devices; including activity, time spent online, and threats blocked.

Leave a Reply