Comparison of Coinlist vs Upbit [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinlist vs Upbit comparison!

Your expert: Alejandro Borja

Coinlist

Investing risks losing your money

Your expert: Xavier Tarrasó

Upbit

Investing risks losing your money

Main points

Fees

0,25%/0,50%

Earns

Customer service

3/5

≈ 0,20%/0,25%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Competitive fees with access to exclusive token sales.

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.

Level

0,25%/0,50%

≈ 0,20%/0,25%

Brief explanation

CoinList charges a commission based on the transaction amount, which varies depending on the specific terms of each token sale or trade on the platform. The platform is known for its ability to handle initial coin offerings (ICOs) and provides access to new digital currencies that aren’t available on more mainstream exchanges. This focus on early-stage investments does mean that fees might be higher in certain cases, especially for exclusive or early access tokens. However, these fees are generally considered competitive within the industry, particularly given the unique access CoinList provides.

Upbit’s commission structure is designed to accommodate a range of trading volumes and styles, which makes it appealing for both high-volume traders and casual participants. The exchange typically employs a tiered fee system, where the trading fees decrease as the user’s monthly trade volume increases. This structure incentivizes frequent trading and larger transactions. However, it’s important for users to note that fees may vary depending on the market conditions and the specific cryptocurrencies being traded. Overall, Upbit’s fees are competitive within the industry but require users to stay informed about the specific details applicable to their trading activities.

Coinlist

Year Founded: Established in 2017, CoinList has rapidly developed a reputation for bridging the gap between emerging blockchain projects and serious investors, ensuring a stable platform with a track record of successful initial coin offerings (ICOs).
Reputation and Reviews: Despite some challenges, CoinList holds a strong position in the market for its unique offerings, such as access to new tokens and ICOs. Its compliance with U.S. securities laws bolsters its credibility among investors.
Security Methods: CoinList emphasizes security by complying with regulatory requirements, ensuring that all listed projects meet stringent criteria and that user funds are protected through advanced security protocols.
Regulation: CoinList operates in compliance with the applicable U.S. securities regulations, making it a trustworthy platform for users looking to participate in ICOs and token sales legally and securely.
Volume Managed: While specific figures on trading volumes aren't disclosed, CoinList's capacity to manage large volumes is evident from its handling of major ICOs and token sales that attract substantial investor interest.

Read coinlist review

Upbit

Security methods: Upbit employs rigorous security protocols, including regular security audits and multi-factor authentication, which significantly minimize the risk of breaches and unauthorized access.
Reputation and Reviews: Since its inception in 2017, Upbit has maintained a strong reputation within the crypto community, especially in South Korea. Its partnerships and transparent practices contribute to its positive image among users.
Trading volume and liquidity: Upbit boasts one of the highest trading volumes among South Korean exchanges, providing users with high liquidity which is crucial for executing trades efficiently and at desirable prices.
Customer service: Upbit offers comprehensive customer support with various channels for communication, ensuring that users' issues and queries are addressed promptly and effectively.
Transparency: The platform is known for its transparent operational practices, such as providing clear information on fees and the regular publication of audit reports, which helps in building trust with its clientele.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

CoinList Services, LLC

Dunamu Inc.

Regulation

Regulated in the EE. UU.

Regulated in Corea del Sur

Year founded

2017

Founder

Andy Bromberg, Graham Jenkin, Paul Menchov

Song Chi

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinlist	FEATURES	Upbit
CoinList offers a flexible minimum trade amount, accommodating both small and large investors, though specifics can vary based on the cryptocurrency.	Minimum Trade	Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Fees on CoinList are competitive but can be higher compared to some other exchanges, particularly for less common trading pairs.	Trading and Transaction Fees	The fees are competitive but the structure can be complex and confusing for new users.
CoinList supports a variety of cryptocurrencies, especially new and emerging tokens not readily available on other platforms.	Number of Cryptocurrencies	Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Offers a robust selection of crypto-to-crypto trading pairs, focusing on new and innovative tokens.	Crypto-to-Crypto Trading Pairs	Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
The website provides essential information; however, details about fees and some services could be more transparent.	Website Transparency	Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
CoinList does not offer an exchange card for in-store purchases. Their focus is primarily on token sales and providing access to new cryptocurrencies.	Credit/Debit Card	Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Provides secure storage options, including cold storage for major assets to ensure safety.	Storage Offering	Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
CoinList offers competitive staking opportunities, especially for newer tokens that are exclusive to the platform.	Staking and Rewards	Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Both mobile and desktop interfaces are user-friendly and well-designed, though occasional bugs affect performance.	Mobile App and Desktop	Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Customer service is a notable weak point, with slow response times and often unsatisfactory resolutions.	Customer Service	Available and responsive, though some users report delays during peak times, which could be improved.
Supports a range of deposit and withdrawal methods, but improvements are needed in processing times and clarity on fees.	Deposit and Withdraw	Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.

Key features

Analysis tools

Basic information, no advanced tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

Token sales, staking, lending services, CoinList Pro exchange

Margin trading, staking, Upbit Earn, fiat on/off ramps

Anonymity

Key points

Available cryptocurrencies

50+, focuses on early access to new tokens

200+

User-friendliness

CoinList provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making the trading process smooth and efficient.

Upbit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Delivers decent value for money with competitive fees and access to exclusive token sales, though it may not suit all traders.

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

United States, Canada, United Kingdom, Australia, Germany

South Korea, Singapore, Indonesia, Thailand

Best for

Great for investors interested in accessing exclusive token sales and competitive fees.

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.

Base currencies available

USD, BTC, USDT

KRW, BTC

Account

Trading

CoinList is known for its support of new token launches and a wide range of cryptocurrencies. It offers competitive fees but has a complex interface that might be challenging for beginners.

Upbit is a major exchange in South Korea, offering a wide range of cryptocurrencies and high liquidity. It provides advanced trading tools but can be complex for beginners.

Deposit and withdrawal

CoinList offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawals are processed efficiently, usually within a day, with low fees.

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.

Account opening process

CoinList offers a straightforward account opening process. Users need to provide personal information and verify their identity. The process is fully digital and usually completed within a day, making it user-friendly.

Upbit offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

CoinList offers support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Upbit offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

CoinList provides strong security with 2FA, encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some users.

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As a cryptocurrency expert on our website, I’d recommend CoinList for those looking to explore new and emerging tokens. CoinList offers unique early access to initial coin offerings and a platform that’s both innovative and regulatory compliant. While it has areas that could be improved—particularly in customer support and platform stability—its distinctive position in the market makes it a valuable choice for investors interested in the forefront of cryptocurrency innovations. If you’re ready to dive into new investment opportunities and are aware of the higher risks associated with new tokens, CoinList could be an exciting platform to consider.

Xavier Tarrasó

As an expert reviewing Upbit, I’d recommend this exchange for users interested in a wide variety of cryptocurrencies and robust trading options. Its comprehensive security measures and high liquidity make it a reliable choice, especially for traders who prioritize a secure trading environment. However, newcomers should take time to familiarize themselves with its interface and fee structure to fully leverage Upbit’s offerings effectively.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.