Korbit Is A South Korean Exchange And One Of The Oldest And Largest In The Industry. The Platform Claims To Offer Its Clients A Variety Of Collaboration Benefits, Highly Competitive Fees, The Opportunity To Trade Using Popular Cryptocurrency Markets, Secure Asset Management, And A Trading API That Supports Automated Trading.
The Centralized Exchange Is Convenient For Both Beginners And Experienced Traders. However, For International Traders, The Experience May Be Somewhat Discounted. The Reason For This Is: The Platform Is Mainly Designed For Local Users Of The South Korean Cryptocurrency Market. In Addition, The Exchange Can Also Use ETH 2.0 Staking, As Well As The NFT Market. Another Feature Of The Exchange Is Korbit's Virtual Asset Rewards Service, Also Known As The Korbit Piggy Bank.
Korbit Allows Customers To Trade Cryptocurrencies Using The Local Currency, The Korean Won (KRW). The Exchange Has A Very Low Entry Barrier And Is Equipped With A Series Of Basic Tools And Functions For Technical Analysis, As Well As A Complete Browser Trading End Point Machine Function. The User Interface Of The Website Has Been Optimized, So It Is Quite Easy To Use.
According To Reports, The Platform Has Never Been Hacked Since Its Establishment. The Platform Has A Modern And Advanced Security System And Protects The Login, Withdrawal And Deposit Processes With Two-factor Authentication.
Korbit Was Founded In 2013 By Tony Lyu, Kangmo Kim And Louis Jinhwa Kim.
Tony Lyu Is A Co-founder And Former CEO Of The Company. In Addition, He Co-founded The TIDE Institute And Upstart. Lyu Graduated From The University Of London With A Major In Financial Economics. He Served As An International Cooperation Commissioner With The Korea International Cooperation Agency And As An Associate Expert At The United Nations Office For Outer Space Affairs. After Leaving Korbit, Lyu Joined SoftBank As An Investment Partner.
Oh Se-jin Is The Current CEO Of Korbit.
The Company Was Established In July 2013. In 2017, It Was Acquired By South Korean Game Developer Nexon.
Korbit Is Headquartered In The Gangnam District Of Seoul, South Korea.
The Exchange Is Only Available To Residents Of South Korea Because Its Interface Language Is Korean And The Main Fiat Currency Is The Korean Won. In 2022, Korbit And Several South Korean Exchanges Began Blocking IP Addresses From Russia.
Initially, Korbit Could Only Be Traded Using BTC/KRW, But The Number Of Available Coins Has Gradually Increased Over Time.
The Currencies Currently Available On The Platform Include BTC, ETH, XRP, XLM, BCH, BNB, EOS, LTC, LINK, 0021, SOL, SAND, MANA, USDC, ADA, DOGE, DAI, DOT And Many Other Cryptocurrencies. In Addition, Digital Assets Are Paired With KRW (Korean Won). Users Can Buy And Sell Cryptocurrencies With Commissions That Are Lower Than The Market Average. The Specific Transaction Fee Depends On The 30-day Trading Volume. The Larger The Trading Volume, The Higher The Commission. Among Them, The Pending Order Fee Is 0.08%, While The Eating Order Fee Is 0.2% (when The Trading Volume Is Lower Than 100 Million Korean Won). If The Monthly Trading Volume Exceeds 100 Billion Won, The Pending Order Fee Is Waived, And The Eating Order Fee Is 0.01%. On The Korbit Exchange, The Deposit Is Free. Withdrawing BTC On The Platform, A Fee Of 0.0001 BTC Is Charged.
The Exchange Does Not Support Margin Trading.
