Comparison of Upbit vs Altcoin Trader [ 2024 ]

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

Your expert: Alejandro Borja

upbit

Upbit

  • Threenvest valuation: 4,4/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

ascendex

Altcoin Trader

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
0,10%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.
3.5 – Competitive fees within South Africa but higher for international transactions.

Level

≈ 0,20%/0,25%
0,10%

Brief explanation

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.
AscendEX maintains a competitive and transparent fee structure, which is essential for both casual and serious traders. The platform typically charges a flat fee for both makers and takers, simplifying calculations for users. These fees are generally aligned with industry standards, ensuring that traders can engage in frequent trading activities without excessive costs. Additionally, AscendEX may offer tiered discounts based on the user’s monthly trading volume, which incentivizes higher trading activity with lower fees. For users looking to minimize costs while maximizing trading opportunities, AscendEX’s fee structure is designed to support a wide range of trading strategies and volumes, making it a compelling choice for those who value straightforward and equitable financial dealings in their trading platform.

Upbit

upbit
Read upbit review
  • 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.
  • Pros
  • Wide range of cryptocurrencies
  • Strong security measures
  • High trading volume
  • Cons
  • Complex fee structure
  • Intimidating for beginners

Read upbit review

Altcoin Trader

ascendex
Read upbit review
  • Security Methods: AscendEX employs a comprehensive array of security measures including SSL encryption, two-factor authentication, and cold storage of assets. These rigorous security protocols ensure that users’ data and funds are protected against unauthorized access and cyber threats, fostering a secure trading environment.
  • Reputation and Reviews: Since its inception in 2018, AscendEX has built a solid reputation within the cryptocurrency community. User reviews often highlight the platform's reliability, wide range of services, and user-friendly interface, underscoring its standing as a reputable exchange in the crypto market.
  • Trading Volume and Liquidity: AscendEX supports a high trading volume and liquidity, which is crucial for traders looking to execute large trades without significantly affecting the market price. This high liquidity not only facilitates better price discovery but also enables efficient entry and exit from positions.
  • Customer Service: AscendEX is known for its robust customer support, offering quick and helpful responses to user inquiries and issues. This commitment to excellent customer service enhances user experience and trust, particularly for new traders who may need assistance navigating the platform.
  • Withdrawal and Deposit Policies: The platform’s policies on withdrawals and deposits are clear, secure, and user-centric, ensuring a smooth process for moving funds into and out of the exchange. AscendEX’s efficient handling of these critical operations reinforces its reliability and the trust users place in it.
  • Pros
  • Broad selection of trading options.
  • Supports spot, margin, and futures trading.
  • Staking options available for earnings.
  • Cons
  • Interface may overwhelm new users.
  • No detailed insurance policy transparency.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Dunamu Inc.
Altcoin Trader (Pty) Ltd.

Regulation

Regulated in Corea del Sur
Not regulated

Year founded

2017
2014

Founder

Song Chi
Richard de Sousa

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
No

Wire transfer

Yes
Yes

Card

Yes
No

Comparative table

Upbit FEATURES Altcoin Trader
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
AscendEX allows small minimum trades, making it accessible for users with smaller capital.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
Competitive fees, especially favorable for high-volume traders with further discounts available.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
Offers a broad range of over 100 cryptocurrencies, catering to diverse trader demands.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
Features an extensive array of trading pairs, facilitating varied and flexible trading strategies.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
Generally transparent about fees and terms, though some details on security could be clearer.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
AscendEX lacks an exchange card feature, which could enhance the usability of cryptocurrencies for everyday transactions and offer additional benefits to its users.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Provides secure storage options with cold storage and multi-factor authentication.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Offers competitive staking rewards and various incentives for participation in trading activities.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and ease of use.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Robust customer support with responsive service via multiple channels.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Efficient deposit and withdrawal processes are in place, although adding more fiat options could improve accessibility and convenience.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
High 4,5/5

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Instant EFT payments, savings wallets, recurring buy orders, OTC trading

Anonymity

No
No

Key points

Available cryptocurrencies

200+
20+

User-friendliness

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.
Altcoin Trader is known for its simple and user-friendly interface, which makes it accessible for new traders. The platform focuses on ease of use, ensuring that buying and selling cryptocurrencies is straightforward.

Value for money

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.
Delivers decent value for money, especially for South African users, with competitive fees and easy access to local banking options.

Countries of operation

South Korea, Singapore, Indonesia, Thailand
South Africa, Namibia, Botswana, Zimbabwe, Lesotho

Best for

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.
Best for South African investors looking for easy access to local banking options and competitive fees, making it ideal for regional users.

Base currencies available

KRW, BTC
ZAR, BTC

Account

Trading

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.
Altcoin Trader is ideal for users looking to trade a variety of altcoins. The platform is easy to navigate, but its fee structure is slightly higher than average. Additionally, the platform’s customer support could use improvement.

Deposit and withdrawal

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.
Altcoin Trader provides bank transfer and cryptocurrency deposit options. Withdrawals are usually processed within 24 hours. Fees are relatively low, making it accessible for beginners.

Account opening process

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.
Altcoin Trader has a simple account registration process. It requires basic personal information, proof of identity, and address verification. The process is quick, usually taking less than a day, making it accessible for new users.

KYC required?

Yes
No

Customer Service

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.
Altcoin Trader provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 availability can be a downside for users needing immediate assistance.

Security

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.
Altcoin Trader employs standard security measures like 2FA and encryption. It lacks regulation from major financial bodies, which could be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend AscendEX for both new and experienced traders looking for a comprehensive crypto trading platform. Its robust security measures, extensive range of cryptocurrencies, and competitive trading fees make it a reliable choice. The platform’s user-friendly interface, coupled with excellent customer support, ensures a smooth trading experience, making it well-suited for anyone looking to delve into the crypto market.

View all comparisons against Upbit

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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.

More comparatives Upbit and Altcoin Trader