Founded in 2014, Korbit is a Korean cryptocurrency exchange that strives to provide traders with a secure platform to enable them to buy, sell, and store Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Chainlink, EOS, Ethereum Classic, and other cryptocurrencies on both web and mobile. They are reputed as the first and most stable Bitcoin exchange in Korea.
Korbit Review, Pros & Cons
- Web & mobile trading platforms
- Trading & learning tools
- Fiat currency
- Unregulated Crypto exchange
- No MetaTrader platforms
- No USA clients
- Limited trading instruments
- Limited funding options
- No live chat support
In this detailed Korbit review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Korbit is the first Korean Won Cryptocurrency exchange and has built a reputation as a reliable and trustworthy exchange that safely manages and protects customer’s assets. The Exchange allows traders to exchange cryptocurrency for fiat money and vice versa. Traders benefit from some trading and learning tools as well as a client support team.
There is no regulatory information on the Exchange’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Although Korbit seems to be more interested in the clients from South Korea, they also offer services to international clients as long as it does not contradict any local law or regulation.
Some Korbit features and products mentioned within this Korbit review may not be available to traders from certain countries because of legal restrictions.
Korbit provides traders with a secure proprietary trading platform, with cold wallet storage. The platform is packed with a range of useful features, such as detailed charts with various indicators, limit orders, and helpful data to track profits and loss calculations. It is available as a WebTrader that can run directly on most modern web browsers, and a mobile app that is compatible with Android and iOS devices and can be downloaded from the respective app stores.
Korbit Trading Tools
Trading tools such as Trade APIs and Charts are available to aid the trading process.
The Exchange’s website has an FAQ section the offers instant answers to clients’ most common questions.
Korbit offers a variety of digital assets, such as Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Chainlink, EOS, Ethereum Classic, and more.
Korbit Accounts & Fees
The Exchange allows traders to open a single live trading account for trading all the available cryptocurrencies.
As broker fees can vary and change, there may be additional fees that are not listed in this Korbit review. It is imperative to ensure that you check and understand all of the latest information before you open a Korbit broker account for online trading.
Customers’ inquiries are dealt with timely and effectively as Korbit offers a professional-client support team that is available Monday to Friday (9 am to 6 pm) and can be reached through Telephone, Live Chat, and Email.
Korbit Deposit & Withdrawal
Clients can deposit and withdraw their funds through bank transfers.
Korbit Account Opening
To register a new account, click on the Sign-Up button and enter your email address and password. Then, check the necessary boxes and click the Register button. A verification email will be sent to the email address you provided, click on the link to complete the registration process.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Korbit is a cryptocurrency exchange that operates from Korea, providing the trader with intuitive web and mobile trading platforms for exchanging several digital assets. There is a range of trading tools and educational resources available on their website to aid traders. However, they are unregulated, which could discourage most potential traders and investors from opening an account with them.
The trading of cryptocurrencies involves significant risk. Price fluctuations can occur which may increase or decrease the value of your assets at any given moment. Any currency whether virtual or not may be subject to large swings in value and may even become worthless. You should not risk an amount you cannot afford to lose.