When choosing a trading platform for transactions, a market player can pay attention to Upbit. This is a crypto exchange that is trying to attract new market players to its site. It describes profitable deals in global markets, however, checking the credible reviews revealed some flaws. In this review, we will determine the real advantages and disadvantages of the exchange, after which the investor will decide on cooperation with it.
Analyzing the stock market
Upbit calls itself the most trusted digital asset exchange. As a rule, conscientious platforms do not make such loud statements, talking only about their trading conditions and features of work. Fraudsters, on the contrary, spread empty words that are not confirmed by anything. They often call themselves “the best in the industry”, “market leaders”. As practice shows, such announcements indicate the criminal fraud of the project.
The exchange intermediary talks about fast and convenient trading with web applications and mobile terminals. The platforms are ostensibly suitable for both beginners and professionals. The company provides 39 digital assets and access to 43 global markets. On the official website, the user can view exchange rates or log in. All you need to register is your email and password.
The web portal provides several services that registered users can use. The crypto exchange offers the use of wallets and market trading with digital assets. She acquaints her trader with current trends, but misses important nuances of cooperation. Lack of information about trading conditions may indicate dishonest activities of the exchange.
What are the benefits of the project?
Upbit calls itself the global digital asset exchange, focusing on competitive advantages:
- High level of reliability. The company is backed by the world’s leading exchange that uses the highest class blockchain. She has a wealth of experience in regulation and trading operations using innovative technologies.
- Wide range of financial instruments. The company provides its clients with more than 150 investment products. Employees carry out round-the-clock monitoring of security systems in real time.
- Fintech and a proven track record. The company guarantees a high level of security and convenient service. She has many years of experience in stocks on a large scale.
Naturally, a practicing trader should not take such statements for granted. He needs to find out what the project actually does and whether it is deceiving its users. In most cases, non-existent advantages are told by scammers who want to attract inexperienced players.
What app does Upbit offer?
The exchange intermediary promises to provide fast and convenient programs for market trading. The application is equipped with several features:
- Lock screen – Provides the ability to check current prices in real time. Quotes are displayed on the lock screen.
- Trends and market data – the platform is provided with information about the market analysis of altcoins and current trends in the digital asset market.
- Real-time notifications – the user gets the opportunity to monitor the market around the clock, receive notifications of price changes.
- Confident trading – the terminal provides the ability to carry out fast and stable trading with a unique financial institution evaluation system.
When trading on the stock exchange, a trader must take care of the quality of the working platform. The company talks about a highly efficient trading system, which is equipped with rich functionality. At the same time, it describes only a small part of the functions and does not allow you to get acquainted with the trading conditions. This behavior raises serious suspicions of fraud.
What are Upbit customers saying? Feedback from market players
Traders leave negative feedback about the exchange. They are pleased with the user-friendly interface, but there are serious problems with the language on the platform. It is difficult for a client to find even English-speaking specialists, not to mention Russian-speaking ones. To verify the account, it is required to confirm the legal origin of the money, the trader faces difficulties at the initial stage of cooperation.
Investors note high commissions and mandatory verification for foreign users. The crypto exchange sets inflated requirements for trading volume, which some investors do not like. They believe that the stock exchange is only suitable for Koreans.
The crypto exchange is aimed at Asian traders. An exit to the world space is only planned, so it will be very difficult for foreign investors to carry out trade transactions. Among the main shortcomings are the lack of a Russian-language menu, the need to open an account in a local payment system.
Upbit exchange – trade or refuse?
The audit showed that this exchange platform is not engaged in obvious fraud, but it has a huge number of shortcomings. Traders talk about the poor quality of support, difficult verification, and unfavorable trading conditions for Upbit. The review allows us to conclude that the crypto exchange is clearly not suitable for a Russian-speaking user.