Comparison of Upbit vs Gatehub [ 2024 ]

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

Your expert: Alejandro Borja

Upbit

Your expert: Xavier Tarrasó

Gatehub

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5

0,30%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with strong focus on simplicity and security.

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.

GateHub charges a flat trading fee of 0.3% on all completed buy and sell orders, which is slightly above the industry average. The platform does not differentiate between maker and taker fees, applying the same rate to both. Additionally, there are no fees for dormant accounts or for creating a new wallet. Withdrawal fees, however, are relatively high, with a fixed fee of 0.005 BTC for Bitcoin withdrawals. Deposit fees vary depending on the method used, with no fees for cryptocurrency deposits but potential costs for fiat deposits, depending on the method .

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.

Gatehub

Security Methods: GateHub employs several advanced security measures to protect user assets. These include AES encryption to safeguard personal and financial data, two-factor authentication (2FA) for additional account protection, and state-of-the-art anomaly detection systems to identify and prevent malicious activities. Additionally, GateHub offers anti-phishing features to further enhance account security.
Insurance: GateHub provides insurance via the Coincover platform, allowing users to insure their cryptocurrency holdings up to $100,000. This insurance offers a significant safety net for users, protecting their investments against potential breaches and ensuring peace of mind.
Number of Users: GateHub boasts a substantial user base, with over 1.5 million users as of July 2023. This large number of users indicates a level of trust and satisfaction within the crypto community, suggesting that GateHub is a reliable platform for trading and storing digital assets.
Regulation and Compliance: GateHub is governed by English law and adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This regulatory compliance ensures that the platform operates within legal frameworks, adding a layer of legitimacy and trust for users.
Transparency: GateHub is transparent about its operations, including its security measures and insurance options. This openness helps build trust with users by providing clear information on how their assets are protected and what measures are in place to secure their investments.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Dunamu Inc.

GateHub Limited

Regulation

Regulated in Corea del Sur

Regulated in the Reino Unido

Year founded

2017

2014

Founder

Song Chi

Enej Pungerčar

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Upbit	FEATURES	Gatehub
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.	Minimum Trade	Minimum trade size is $10, making it accessible for small investors .
The fees are competitive but the structure can be complex and confusing for new users.	Trading and Transaction Fees	Flat trading fee of 0.3%, slightly above the industry average. High withdrawal fees for BTC at 0.005 BTC .
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.	Number of Cryptocurrencies	Supports 8 major cryptocurrencies including BTC, ETH, and XRP .
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.	Crypto-to-Crypto Trading Pairs	Offers trading pairs primarily with XRP, USD, and EUR, but lacks diversity compared to top exchanges .
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.	Website Transparency	Transparent about fees and services, detailed fee page available .
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.	Credit/Debit Card	Users can deposit funds using credit and debit cards, although fees apply.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.	Storage Offering	Supports secure storage with 70% of assets in cold storage, AES encryption, and 2FA .
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.	Staking and Rewards	Limited staking options and reward programs compared to competitors .
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.	Mobile App and Desktop	User-friendly interface on mobile and desktop, but mobile app development still in progress .
Available and responsive, though some users report delays during peak times, which could be improved.	Customer Service	Offers live chat and email support, but response times can be slow .
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.	Deposit and Withdraw	Multiple methods for deposit and withdrawal, but high withdrawal fees and no credit card support .

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

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

Wallet services, fiat on/off ramps, staking, Gatehub trading platform

Anonymity

Key points

Available cryptocurrencies

200+

10+ (focus on XRP and similar assets)

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.

Gatehub provides a straightforward and easy-to-use platform that is 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.

Offers reasonable value for money with competitive fees and strong security features, though it may lack some advanced trading features.

Countries of operation

South Korea, Singapore, Indonesia, Thailand

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

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

Ideal for traders seeking a secure platform with competitive fees and a focus on simplicity.

Base currencies available

KRW, BTC

USD, 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.

GateHub provides a secure and user-friendly platform with easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

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

GateHub provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

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.

GateHub offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

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.

GateHub offers support via email and live chat. The support team is responsive, but the lack of 24/7 support may be a limitation 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.

GateHub offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

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 Tarrasó

As an expert in the cryptocurrency market, I recommend GateHub primarily for its user-friendly interface and robust security features. The platform is particularly suitable for beginners due to its straightforward design and real-time portfolio analytics. GateHub’s strong focus on Ripple (XRP) and its integration with fiat currencies make it a versatile choice for those looking to manage both crypto and traditional assets. However, potential users should be mindful of the high withdrawal fees and the limited selection of cryptocurrencies. Overall, GateHub is a reliable platform for those who prioritize security and ease of use in their crypto trading experience.

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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.

Comparison of Upbit vs Gatehub [ 2024 ]

Upbit

Gatehub

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Upbit

Gatehub

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Upbit and Gatehub