How to Buy Bitcoin in South Korea
We found 12 trusted online cryptocurrency exchanges operating in South Korea including Bithumb, UPbit, and Korbit.
We found 12 trusted online cryptocurrency exchanges operating in South Korea including Bithumb, UPbit, and Korbit.
Bithumb is the most popular Bitcoin exchange in South Korea with 8,000,000 users
UPbit allows buying and selling Bitcoin with 2 forms of payment
Korbit accepts users and payments from 1 countries
Ease of Use
Medium
Fees
Average
Verification
1-2 Days
Reputation
Low
Bithumb is a cryptocurrency exchange from South Korea that at one point has been estimated to account for 10% of bitcoin trading on a global scale.
Buy Bitcoin with Bithumb
Bithumb is a cryptocurrency exchange from South Korea that at one point has been estimated to account for 10% of bitcoin trading on a global scale. Bithumb has suffered near-crippling hacks in June 2017, June 2018, and again on March 2019. It has also been fined for leaked customer data. Despite all of these mishaps, Bithumb has plans to expand to the American and Japanese markets. Bithumb does not have a strong security record and users are strongly recommended to explore alternative exchanges.
Not really. The exchange’s history of hacks indicates Bithumb has a complete lack of regard for its customers’ welfare.
Ease of Use
Medium
Fees
Average
Verification
1-2 Days
Reputation
Trusted
Upbit is currently one of the largest crypto-asset exchanges in South Korea although only launching late 2017.
Buy Bitcoin with UPbit
Upbit is currently one of the largest crypto-asset exchanges in South Korea although only launching late 2017. Founded by one of South Korea’s richest men, Song Chi-Hyung and through its exclusive partnership with Bittrex, it’s no wonder why UPbit is quickly becoming the most popular exchange in Asia.
Upbit’s online wallet security is provided by BitGo, which boasts one of the best global standards in multi-signature wallets.
Ease of Use
Medium
Fees
Average
Verification
1-2 Days
Reputation
Trusted
Korbit is the first bitcoin exchange in South Korea and has strong venture capital backing.
Buy Bitcoin with Korbit
Korbit is the first bitcoin exchange in South Korea and has strong venture capital backing. The platform is widely accepted by its users and features both Korean and English languages and allows users to buy Bitcoins with the local fiat currency, the South Korean Won (KRW).
Korbit is considered a safe exchange in South Korea.
After buying bitcoin from an exchange, it's important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes 20 seconds.
Electrum is a popular desktop Bitcoin wallet which is compatible with Windows, Mac, and Linux
Ledger Nano S is a secure hardware wallet that connects to your computer via USB
Ease of Use
Medium
Fees
Low
Verification
1 Day
Reputation
Trusted
Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis.
Buy Bitcoin with Binance
Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees.
Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options.
Ease of Use
Medium
Fees
Very High
Verification
1-2 Days
Reputation
Trusted
Gemini is a digital asset exchange and custodian, founded in 2014 by brothers Cameron and Tyler Winklevoss, that allows customers to buy, sell, and store digital assets such as bitcoin and ether.
Buy Bitcoin with Gemini
Gemini is a digital asset exchange and custodian, founded in 2014 by brothers Cameron and Tyler Winklevoss, that allows customers to buy, sell, and store digital assets such as bitcoin and ether. Gemini is regulated by the New York State Department of Financial Services (NYSDFS) and also the first exchange to launch bitcoin futures contracts in December 2017.
Gemini is considered to be one of the most secure cryptocurrency exchanges on the market. Gemini is governed by the Bank Secrecy Act (BSA) and complies with anti-money laundering (AML) rules. Client deposits are eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage and the company is also heavily capitalized to protect the digital currency you store offline
Ease of Use
Easy
Fees
Average
Verification
2-3 Days
Reputation
Trusted
With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market.
Buy Bitcoin with Kraken
With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market. Kraken provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. In February 2019, Kraken announced that it had raised $100 million in a direct offering to its largest customers at a $4 billion valuation.
Kraken is considered one of the safest bitcoin exchanges around. The platform provides cryptography-verified proof of reserve audits. These audits verify the total amount of cryptocurrency held by Kraken. The company appears to be well-capitalized and very safe to use.
Ease of Use
Easy
Fees
High
Verification
1 Day
Reputation
Trusted
Coinmama is a leading cryptocurrency exchange that allows you to buy and sell bitcoin and other cryptocurrencies with a credit card and/or bank transfers.
Buy Bitcoin with Coinmama
Coinmama is a leading cryptocurrency exchange that allows you to buy and sell bitcoin and other cryptocurrencies with a credit card and/or bank transfers. Since its foundation in 2013, it has grown to serve over 2 million customers across 188 countries and today has over 40 employees. Coinmama is a really simple exchange, which makes a perfect platform for safe, secure and quick transactions.
Coinmama is considered a reputable platform for bitcoin purchases.
Ease of Use
Easy
Fees
Average
Verification
3 Days
Reputation
Trusted
Bitstamp is a well-established and respected cryptocurrency exchange that has become one of the most popular choices with cryptocurrency traders around the world.
Buy Bitcoin with Bitstamp
Bitstamp is a well-established and respected cryptocurrency exchange that has become one of the most popular choices with cryptocurrency traders around the world. Bitstamp provides trading services to traders from all around the world and is designed for both intermediate and experienced investors. The exchange provides a user-friendly, intricate and advanced trading platform with sophisticated features.
98% of all funds on the exchange are kept in cold storage, meaning they are inaccessible to hackers. Additionally, Bitstamp insures these funds while using mandatory confirmation emails, 2FA, and SMS alerts to ensure secure accounts. On top of everything mentioned, the site also utilizes PGP to encrypt all uploaded files, keeping them private and secure
Ease of Use
Medium
Fees
Average
Verification
1-2 Days
Reputation
Trusted
Launched in 2013, Huobi is the 5th largest cryptocurrency exchange in the world by volume and boasts a 24-hour trading volume of $26 Billion.
Buy Bitcoin with Huobi
Launched in 2013, Huobi is the 5th largest cryptocurrency exchange in the world by volume and boasts a 24-hour trading volume of $26 Billion. Huobi has a massive prescence in the Asian markets and their popularity has been spreading globally. With more than 390 cryptocurrencies offered, traders and investors around the world can easily buy crypto..
Huobi client funds are held in dedicated multi-signature cold wallets with 24/7 security monitoring, and a dedicated 20,000 BTC Security Reserve Fund has been created to further providing another level of asset protection.
Ease of Use
Medium
Fees
Low
Verification
3 Days
Reputation
Low Trust
Bitfinex is a cryptocurrency exchange headquartered in Hong Kong and registered in the British Virgin Islands.
Buy Bitcoin with Bitfinex
Bitfinex is a cryptocurrency exchange headquartered in Hong Kong and registered in the British Virgin Islands. Bitfinex ranks among the top exchanges in terms of daily trading volumes and is one of the most well-known trading platforms albeit a troubled history of multiple hacks, loss of user funds, and other allegations.
Bitfinex has had multiple hacking incidents including, in 2015 where customers funds were hacked, losing ~$400,000, and in 2016 ~$73 million was stolen from its customers' accounts. Bitfinex claims that 99.5% of user funds are stored in an offline, multisignature wallet; requiring 4 of 7 hardware security modules (HSMs) in possession by globally-distributed management team members to approve all transactions.
Ease of Use
Hard
Fees
Average
Verification
1-2 Days
Reputation
Trusted
OKCoin is a Chinese-based exchange that was founded in 2013 and is currently one of the more dominant platforms for Bitcoin trading.
Buy Bitcoin with OkCoin
OKCoin is a Chinese-based exchange that was founded in 2013 and is currently one of the more dominant platforms for Bitcoin trading. OKCoin primarily services users from China and the Asian markets but accepts traders from all over the world.
OKCoin integrates bank-level SSL security encryption. In addition, cold storage for the majority of their cryptocurrency, GSLB and distributed servers, and real-time account monitoring of deposits and withdrawals.
Ease of Use
Easy
Fees
Average
Verification
1 Day
Reputation
Trusted
Changelly allows one to exchange one cryptocurrency for another and also buy using a bank card.
Buy Bitcoin with Changelly
Changelly allows one to exchange one cryptocurrency for another and also buy using a bank card. All this is done through a convenient and clean user-interface and a quick registration via email or social media account. Changelly’s conversion mechanism is integrated into some of the biggest cryptocurrency platforms such as Poloniex, Bittrex, and Binance. There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world.
Changelly offers two-factor authentication and an HTTPS security protocol. No user funds are stored by Changelly as all coins sent are processed to be exchanged and transferred to user wallets.
There are 12 trusted exchanges operating in South Korea with the most popular being Bithumb, UPbit, and Korbit.
You can review each of these exchanges and find best exchange that works for you. Bitrawr ranks exchanges in South Korea based on fees, users, and security while giving placement preference to exchanges located in South Korea or specifically catering to users in South Korea.
Yes, you can buy bitcoin safely and anonymously by using P2P (Peer to peer) exchanges like Bisq, Paxful, LocalSwap and LocalBitcoins.
Most of the exchanges operating in South Korea have debit/credit card payment options available. Remember that this requires completing KYC.
No! For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a hardware wallet as it keeps private keys safe and entirely offline.
Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for KYC. ATMs are commonly located inside of convenience stores, shops, restaurants, malls or airports. Find one near you using our ATM map.
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