Isn’t Bitcoin an interesting topic to understand? Bitcoin trading has made the world crazy. Therefore, people are looking for BTC exchange websites around their own region to better understand, get educated, and trade! Today, we will give you a walkthrough into South Korean cryptocurrency exchange, Korbit.co.kr. We will know more about how their website works, what the trading fees are, and get a preview of what their trading platform looks like from this review.
QUICK NAVIGATION :
Korbit is the largest cryptocurrency exchange in South Korea. The main currencies, this Korean cryptocurrency exchange deals with are Bitcoin and Ethereum. Customers can also purchase Ripple through this exchange. Digital assets are paired with the Korean Won (KRW).
The Korean cryptocurrency exchange’s mission is to enable the free flow of value by using new technologies such as Bitcoin and Blockchain. Along with financial services, they want to create a world where individuals can transact with each other freely without sacrificing security or convenience.
Korbit is termed as “The world’s first Bitcoin-Korean Won exchange”.
Founded in 2013 by Kangmo Kim, Louis Jinhwa Kim, and Tony Lyu, Seoul based Korbit is a large Korean cryptocurrency exchange. Operations started in 2014 after securing huge financing from several venture capitalists. The
Korean cryptocurrency exchange raised $3.6 M from investors.
Korbit has 30 trading pairs that are all crypto against KRW. The
Korean cryptocurrency exchange comes with a $100M+ USD trading activity. Thus it is an excellent exchange for anyone looking to trade KRW against cryptocurrencies. The exchange also offers a trading API for automated trading.
Using this platform, users can easily send their money to Korean banks using Bitcoin for which no transaction charges are applicable.
Different exchanges have different trading views. And there is no “best”-view. It is up to traders what view suits them. Korbit provides below trading view
3 things to understand before trading are –
While buying or selling Bitcoin, Click on ”trading” and select the cryptocurrency. The user can then select the order he wants to place i.e. limit order, market price or stop order. The user can then select the amount for which he wants to buy the currency. If the user is selling then he could check the real-time pricing of that crypto before placing the order.
The platform offers 6 verification levels, levels 0 through 5. All new accounts are assigned Level ‘0’. Each level grants progressively larger daily deposit and withdrawal limits and requires progressively more personal information. Get level 3 to Trade currencies other than BTC, BCH, BTG, ETH, ETC, and XRP.
You can find the requirements and benefits to each level below.
This Korean Cryptocurrency Exchange provides a web-based interface with which to carry out trading activities.
The web version of Korbit displays a separation of charting from the actual trade interface. This allows users to analyze the charts on one window, and execute their trades on another.
Users can also access to the order book. This order book records the various market entries for traders on the platform. The exchange can use records as a gauge of market sentiment, pointing to either a buy or a sell for the crypto concerned.
The charts come with basic tools of analysis. They are not detailed enough to perform a deep technical analysis. Traders may, therefore, have to resort to the use of external charting software if intense technical analysis with depth is to be performed.
Korbit cryptocurrency exchange provides Android app, but it is in beta version. However, desktop version is properly optimized for use on mobile devices, and this is how smartphone and tablet users can operate on this platform.
Korbit exchange provides only basic password authentication. It does not provide any additional security features. While there is a security section to the account configuration page, it contains a setting to change where you land after logging in. They can select the wallet page or the trading page.
Korbit was the first cryptocurrency exchange to trade of cryptos using fiat currency in South Korea. High-quality service is maintained since 2014.
However, we feel that the platform should look after global users since the cryptocurrency market is a worldwide phenomenon. This Korean cryptocurrency exchange is a great platform to trade with and it may go even higher in the coming days.
Read related information: Gemini Review | Zipmex Fees |
What is your review on this Korbit Review? Share your thoughts on our Twitter and Facebook pages.
Despite the bearish market sentiment, crypto whales are showing strong interest in Ethereum (ETH). Data…
March 2025 – In the dynamic world of trading, a solid understanding of key terms…
Even after Pi Network's listings on significant exchanges, its price swings and ongoing essential developments…
The cryptocurrency market has once again found itself under the spotlight, with Cardano (ADA) seeing…
Pi Coin has dropped to an all-time low of $0.51, marking an 83% drop since…
Grayscale, the leading cryptocurrency asset manager, has officially submitted an S-1 form to the U.S.…