Upbit, Yobit or Bittrex: which platform to choose?
Upbit is a new marketplace for conversion of cryptocoins based in Korea. The company behind the exchange is the same company, which launched the largest messaging app Kakao. The talk app is not the only product of the corporation. It also launched a famous search engine Daum, used often on the local market. It also owns a taxi app, video sharing service, music streaming site, own payment system and successful network of mobile gaming. The corporation attains great result in everything it does. So Upbit is the next milestone on the path of its spectacular growth. But it all happened due to good financial support provided to Upbit by Bittrex, the US exchange.
The Internet giant has numerous online services at its disposal. It helps to integrate the platform into the system so that local users could trade coins as easily as they use taxi app or chat via Kakao messenger. The fact brings good advantages to the system. The users find extensive functionality rather convenient and come to the site to get the best service. Though the site caters the needs of local citizens, Upbit has English version as well so it is available for foreign users.
The scale of the platform is impressive from the moment of its launch. Even when it started working, the assortment of coins traded included 111 altcoins. Bitcoin still remains the most traded crypto there.
The plans are huge and the potential is large.
This is surprising how small Korea managed to leave China behind in the amount of cryptocurrencies traded. Though it happened before Upbit started its activity, it contributes to development of cryptocurrency infrastructure in the country.
The company is highly experienced in development of mobile apps, so it offered Android and iOS-based apps of the service. Customers start trading easily from computer in the common browser.
Bitgo wallet was integrated to the platform to be an internal wallet of the service. Additionally, Kakao pay is available as a mobile payment system developed to serve Korean users.
Yobit is another alternative to use. This Russian-based company with user friendly interface offers the service with free coins, security deposit codes and extensive functionality. But, in contrast to Bittrex, Yobit has numerous negative reviews. It seems that its support does not work well enough and does not solve problems well. The number of tradeable coins is really extensive. The trading volume of Yobit is high. The same can be said about Bittrex but Yobit is under investigation started by Russian authorities.
Yobit started working in 2015. The trading fee is only 0.2% per transaction. Yobit currency list is quite extensive. There are more than 400 alternative coins in Yobit listing. Read the most comprehensive Yobit review to decide if the platform is worth using. If we compare Yobit with Bittrex, we will see a bigger choice of coins on the site. Yobit API is convenient. But there is much concern about the future of this platform. There is even discussion on Bitcointalk about delisting of Yobit on Coinmarketcap. We will follow Yobit news to learn more on the subject. It is not recommended to use the site until the legal status is unclear.
As far as Bittrex is concerned, this is undeniably one of the leaders in the sphere of cryptocurrency exchanges. It has many automated features and it is very simple in navigation. It has been working on the market since 2014. It entered the list of three largest cryptoexchange platforms of the world, so if you prefer to select the leading companies, it should be Bittrex. It is secure and has powerful trading engine that is able to execute the trades fast. Despite being very busy, the customer support works perfectly. They are able manage numerous problems of all kinds and satisfy their users. Compare it with unresponsive Yobit support that processes tickets very long (several weeks in some cases) and make your own conclusions. The exchange is accessible and has transparent fees. So now you understand why its rating is so high. However, Bittrex does not offer fiat trading pairs and this is the biggest drawback of the service. In this way customers do not have other choice applying often to less reputable business rivals. Still if you need to buy BTC, ETH or USDT, it is a great alternative.
Those who prefer reputable brands apply to the oldest exchange such asBitonicbased in Netherlands. If you need some European exchange, then Coinmate is a good option. Kkexis an international platform based in United States. It is also highly recommended for crypto traders. Simple users of Bitcoin, can use Bitx wallet, which is very easy to use. The advantage of the software is that it allows owners of coins trade into their local currency within the network. They do not have to go anywhere to exchange their assets and find this very convenient.
Comparison of Upbit with other exchanges ❶ ❷ ❸ ❹ ❺ -
average rating 5 from 5
(based on 105 user reviews)