Comparison of Upbit vs Paybis [ 2024 ]

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

Your expert: Alejandro Borja

upbit

Upbit

Your expert: Xavier Tarrasó

paybis

Paybis

Main points

Fees

≈ 0,20%/0,25%

Earns

Yes

Customer service

4/5
fluctuate

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

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.
3.7 – Reasonable fees with additional benefits for instant purchases.

Level

≈ 0,20%/0,25%
fluctuate

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.
Paybis structures its commissions to be straightforward and transparent, ensuring that users are well-informed about any costs associated with their transactions. The exchange typically charges a fee on transactions involving fiat to crypto exchanges, with the exact percentage varying depending on the payment method used. For instance, credit card transactions might incur higher fees compared to bank transfers or other payment options. Additionally, Paybis also imposes a conversion fee if a currency conversion is necessary during the transaction. This commitment to clarity allows users to plan their trading activities without worrying about hidden charges.

Upbit

Paybis

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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.
Paybis LTD

Regulation

Regulated in Corea del Sur
Regulated in the Reino Unido

Year founded

2017
2014

Founder

Song Chi
Innokenty Isers

Payment methods

Transfers

Yes
No

Mastercard

Yes
Yes

Wire transfer

Yes
No

Card

Yes
Yes

Comparative table

Upbit FEATURES Paybis
Upbit allows users to trade with relatively small amounts, making it accessible for beginners.
Minimum Trade
Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
The fees are competitive but the structure can be complex and confusing for new users.
Trading and Transaction Fees
Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Upbit offers a wide array of over 150 cryptocurrencies, catering to diverse trading preferences.
Number of Cryptocurrencies
While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Provides an extensive range of trading pairs, supporting various crypto-to-crypto transactions.
Crypto-to-Crypto Trading Pairs
Paybis has a moderate range of crypto-to-crypto trading pairs, but it lacks the depth found on platforms specifically designed for experienced traders.
Generally transparent about trading conditions and security policies, though some information like fee structures could be simplified for better clarity.
Website Transparency
The Paybis website provides clear information about fees and policies, although some users might seek more detailed data on security practices and fund storage.
Lacking a dedicated exchange card, Upbit misses an opportunity to integrate cryptocurrency spending into everyday transactions for its users.
Credit/Debit Card
As Paybis focuses on simplifying the cryptocurrency trading process, it currently lacks additional financial tools like a payment card, which could enhance the versatility and everyday usability of its platform for users.
Offers secure storage solutions, though it’s primarily an exchange, not a dedicated wallet service.
Storage Offering
Paybis provides secure storage options, but it doesn’t offer as many advanced features like insurance or multiple signature options as some larger platforms.
Offers competitive staking options and rewards, providing users with opportunities to earn from their holdings.
Staking and Rewards
Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Both platforms are user-friendly and offer full functionality, facilitating trading on-the-go and from desktop setups.
Mobile App and Desktop
The Paybis mobile app and desktop version are user-friendly and reliable, though they may lack some advanced trading tools found in more specialized apps.
Available and responsive, though some users report delays during peak times, which could be improved.
Customer Service
Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Efficient processes with some limits on international transactions, reflecting the need for broader accessibility.
Deposit and Withdraw
Deposits and withdrawals are generally straightforward and quick on Paybis, but fees associated with these processes might be higher than at other exchanges.

Key features

Analysis tools

Advanced charting tools, technical analysis
No trading tools, primarily a buying platform

Mobile APP

Yes
No

Security

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

Additional features

Margin trading, staking, Upbit Earn, fiat on/off ramps
Instant crypto purchases, fiat on/off ramps, Paybis wallet, educational resources

Anonymity

No
Yes

Key points

Available cryptocurrencies

200+
Limited, primarily major cryptocurrencies

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.
Paybis offers 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.
Provides reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced 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 user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, BTC
USD, EUR, GBP

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.
Paybis provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

Upbit is a major exchange in South Korea, offering multiple deposit and withdrawal methods. Withdrawals are processed quickly, with competitive fees.
Paybis provides multiple deposit options, including bank transfers, credit/debit cards, 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.
Paybis 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
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.
Paybis 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

Upbit ensures security through 2FA, encryption, and cold storage. It is regulated by Korean authorities, providing a secure environment for investors.
Paybis employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

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 one of the experts here at our site, I’d like to highlight that Paybis is a solid choice for both new and seasoned cryptocurrency traders. Its user-friendly interface simplifies the trading process, making it accessible to everyone. While its fee structure could be more competitive, the range of payment options and exceptional customer service make it stand out. Whether you’re making your first cryptocurrency purchase or looking for a reliable platform for frequent trading, Paybis offers a secure and transparent environment to meet your needs.

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.

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