Comparison of Upbit vs Blocktrade [ 2024 ]

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

Your expert: Alejandro Borja

upbit

Upbit

Your expert: Xavier Tarrasó

blocktrade

Blocktrade

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
0,30%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with strong local support in South Korea and Southeast Asia.
3.9 – Competitive fees with additional benefits for European traders.

Level

≈ 0,20%/0,25%
0,30%

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.
Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

Upbit

Blocktrade

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Dunamu Inc.
Blocktrade S.A.

Regulation

Regulated in Corea del Sur
Regulated in the UE

Year founded

2017
2018

Founder

Song Chi
Luka Gubo

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Upbit FEATURES Blocktrade
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

No
Yes

Key points

Available cryptocurrencies

200+
10+

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.
Blocktrade provides a straightforward and easy-to-use platform, ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.
Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.

Countries of operation

South Korea, Singapore, Indonesia, Thailand
Germany, Austria, Switzerland, Slovenia, France

Best for

Best for South Korean, Singaporean, Indonesian, and Thai investors seeking a reliable platform with competitive fees.
Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

KRW, BTC
EUR, 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.
Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.

Deposit and withdrawal

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.
Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

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.
Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.

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.
Blocktrade provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.
Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

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.
As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

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 Blocktrade