Bingx vs Upbit: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Bingx and Upbit This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Bingx

Upbit

⚠️ We look for what’s best for you.

₿ Getting into crypto? With eToro you can start in minutes: buy/sell top coins, set recurring buys, track markets, and use Social/CopyTrader features.

👉 Start here and explore the crypto offer.

Available Countries

United States

Yes

Europe

Yes

Latin America

Yes

India

Yes

China

Canada

Yes

United Kingdom

Yes

United States

yes

Europe

yes

Latin America

yes

India

China

Canada

yes

United Kingdom

Thinking about starting with crypto? This is for you.

In select regions, eToro offers a $10 welcome bonus when you open an account today.*

🎯 An account built to help you start with crypto—without the hassle.

➕ Buy and sell top cryptocurrencies in minutes

➕ Recurring buys, price alerts, and advanced charts

➕ Social/CopyTrader™ to follow experienced investors

➕ One of the largest and most trusted platforms worldwide

Limited-time promotion — still available.

*Offer subject to terms, eligibility and regional availability. Don’t invest unless you’re prepared to lose all the money you invest.

Bingx is ideal if:

Social or copy traders: You’ll benefit from one of the most robust copy-trading ecosystems in crypto, with transparent trader metrics and automated execution tools.
Beginners needing ease and tools: The platform combines a clean, intuitive interface with demo trading, grid bots, and straightforward guidance—designed to ease newcomers into crypto trading.
Leverage and derivatives users: Advanced traders get access to high leverage (up to 125×), diverse derivatives beyond crypto (like forex, indices, commodities), and TradingView-style analysis features.

Upbit is ideal if:

Great for beginner-friendly trading: Offers a clean, intuitive interface and strong security, making it ideal if you're new to crypto and value simplicity.
Strong Asian market presence: Deeply localized in South Korea and Southeast Asia, with excellent liquidity and fiat integration in those regions.
Not suited for advanced instruments: If you're looking for margin, derivatives, or broad global fiat support, Upbit’s limited financial features may not fit your needs.

Bingx isn’t ideal if:

You want direct fiat trading or card support: If you prefer depositing and withdrawing fiat currencies directly, this may be a drawback—BingX relies heavily on third-party or stablecoin conversions rather than full fiat integration.
You need full support in heavily regulated markets: Residents of countries like the US, UK, or Canada may not be able to access the platform due to local restrictions or compliance policies.
You expect phone-based customer support: Support options are limited to email and live chat, so if you need voice assistance, this platform may fall short for your needs.

Upbit isn’t ideal if:

Limited product variety: Lacks margin, futures, copy-trading, loans, or crypto cards, restricting users seeking more advanced financial tools.
Geographically constrained: Primarily serves South Korea and select Asian markets; support and fiat options are limited for most global users.
Basic customer support: Relies mainly on ticket-based assistance with minimal tutorials or live help, which may not satisfy those wanting more hands-on guidance.

Fees & Total Costs

Spot Maker/Take

Most major spot pairs carry a flat maker-and-taker rate of around 0.1 %, though less liquid or niche tokens may incur slightly higher rates up to 0.15 %, and VIP levels or usage of the native token can unlock discounts.

Upbit applies a flat trading fee—typically around 0.20–0.25%—for both maker and taker spot orders across supported pairs, with no tiered discounts or native token rebates.

Futures/Derivatives

Perpetual futures typically cost about 0.02 % for makers and 0.05 % for takers, plus a funding rate that updates roughly every eight hours and can swing depending on market imbalances.

Upbit does not offer futures or derivative instruments, so there are no maker, taker, or funding fees to consider.

Average Spreads on Liquid Pairs

For top-tier pairs like BTC/USDT and ETH/USDT, the spreads are very tight, reflecting strong liquidity and efficient execution in the order book.

On major spot pairs like BTC/USDT or ETH/USDT, spreads are generally tight and reflective of high liquidity, though your precise rate depends on market depth at the time of execution.

Fiat Deposits & Withdrawals

Users must rely on third-party services (like MoonPay or Mercuryo) or P2P methods for fiat funding; BingX itself doesn’t charge fees, but providers may, and processing times vary by method and geography.

Upbit supports bank transfers for fiat, with deposit methods varying by region; fees and processing times vary according to local banking systems and verification levels.

On-chain Withdrawals

Crypto withdrawals are charged a flat network-based fee per token—e.g., approximately 0.0005 BTC, 0.005 ETH, or 1 USDT (TRC-20)—subject to variation based on congestion and blockchain conditions.

Upbit charges fixed network fees per asset (e.g. a fixed amount in BTC or ETH), which do not adjust dynamically based on network congestion.

Hidden Costs

Additional costs may include a 0.2 % currency conversion fee when depositing in a different fiat than your account base, possible inactivity or express KYC fees in rare cases, and variable third-party fees on fiat rails.

You might encounter costs such as currency conversion spreads, speedier KYC processing, or cross-border banking charges; these are not labeled as explicit fees but can subtly add to your overall cost.

Real-World Cost Example: “€500 BTC

In this scenario, you’d face the spot trading fee (~0.1 %), a small spread on BTC/USDT, any conversion fee if deposited in euros (~0.2 %), and the fixed network withdrawal fee to take BTC off the platform.

If you purchase €500 in BTC, your total cost includes the platform’s flat trading fee plus the market spread; withdrawing that BTC would then incur the asset’s fixed network withdrawal fee.

Crypto Offering & Trading Features

Number of Coins & Pairs

BingX supports over 1,000 cryptocurrencies across more than 1,000 trading pairs, with the top-20 pairs by volume heavily featuring mainstream assets like BTC/USDT, ETH/USDT, SOL, XRP, DOGE, ADA, LINK, and TRX.

Upbit lists approximately 260-263 cryptocurrencies (depending on the data source) and over 540 trading pairs overall, with the top 20 by volume dominated by KRW pairs like ETH/KRW, XRP/KRW, and BTC/KRW, reflecting its regional liquidity strength.

Product Range

The platform covers a full spectrum of instruments—spot trading, margin, perpetual futures (perps), copy trading, grid bots, staking, wealth products, lending/loans, and promotional staking, though it doesn’t currently offer options or crypto ETFs.

Upbit focuses exclusively on spot markets and does not offer margin, perpetual futures, options, crypto ETFs, lending, copy trading, grid bots, or automated DCA; however, it does include staking/earn services for select assets.

Liquidity

BingX regularly sees multi-billion-dollar 24 h trading volume, with a deep order book on major pairs like BTC and ETH ensuring tight spreads and swift execution even amid market swings.

Upbit’s 24-hour trading volume typically ranges in the multi-billion-dollar bracket, and its order books for BTC and ETH pairs exhibit strong depth, especially for KRW-denominated pairs, ensuring tight spreads and reliable execution.

Tools

Traders can access a comprehensive toolkit

The platform supports limit, market, and stop-limit order types, plus charting tools and dashboards, API and WebSocket access, but lacks native TradingView integration and any alerting capabilities.

Geographic Restrictions by Product

Certain advanced products—especially derivatives and copy trading—may be unavailable or restricted in jurisdictions like the US, UK, and Canada due to regulatory constraints.

Derivatives and advanced instruments are unavailable across the board, and even spot trading is restricted in regions like the United States, Japan, China, and Taiwan due to regulatory limitations.

Innovation

BingX stands out with its Launchpad and Launchpool programs for new token access, plus flexible vs. locked staking options, making it attractive for users aiming to participate in early-stage token launches.

While Upbit does not host launchpads, launchpools, or flexible-vs-locked earn programs, it does offer staking options for select chains—but no advanced yield farming or investment pools.

Security, Regulation & Custody

Operating Entity & Jurisdiction

BingX is operated by BingX Group, established in 2018, with headquarters in Singapore and branch offices across the EU, Australia, and Hong Kong, serving a global user base.

Upbit is operated by Dunamu Inc., a South Korean company founded in 2017, with its headquarters located in Seoul and expanding operations through entities such as Upbit Singapore.

Licenses/Registration

The platform holds Money Services Business (MSB) registrations in the United States and Canada, demonstrating regulatory compliance for digital asset and FX services in those regions.

Upbit Singapore holds a fully licensed status as a Major Payment Institution under Singapore’s Payment Services Act, enabling regulated digital token services, while its Korean operations continue under the Virtual Asset Service Provider framework.

Custody

BingX entrusts custody to a combination of its own infrastructure and bank-grade systems, stores around 90 % of assets in cold wallets, publishes Proof of Reserves reports (typically bi-monthly), and undergoes independent audits by third parties.

Upbit maintains full custody of user assets, backed by recent audits confirming over-100 percent reserves for both digital assets and cash equivalents, alongside substantial cold-wallet holdings.

Insurance & Protection Funds

A dedicated Shield Fund exists to safeguard users from extreme volatility and leveraged position failures, complementing the security infrastructure.

The exchange has set aside dedicated user protection reserves, in the order of tens of millions USD, specifically to shield user assets in case of unexpected events.

Incident History

In September 2024, BingX experienced a hot-wallet breach resulting in significant asset loss, after which it restored operations fully and launched the “ShieldX” security enhancement program.

In late 2019, Upbit experienced a significant hack that resulted in the loss of roughly USD 48 million in Ethereum; since then, it’s reinforced internal controls and transparency protocols.

Risk Controls

Users benefit from robust controls including mandatory two-factor authentication (2FA) via email, phone, or authenticator apps, optional fund-password separation, anti-phishing codes, withdrawal whitelists, account locking, AI-augmented withdrawal reviews, and granular API and sub-account permissions.

Upbit employs robust safety measures such as two-factor authentication, internal self-trading restrictions, a proprietary market-monitoring system, and auditing to prevent insider trading, plus granular permission controls for API access.

Transparency

The platform provides periodic Proof of Reserves disclosures, engages in regular security audits and penetration testing, and offers enhanced monitoring via ShieldX infrastructure, though public wallet addresses or formal SLA documents are not prominently featured.

The exchange publishes periodic transparency reports including audit results and trading-behavior monitoring; while it doesn’t offer public wallet addresses or formal SLAs, it follows regulatory guidelines and discloses operational compliance measures.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

BingX accepts fiat deposits via bank transfers (such as SEPA or local rails), credit/debit cards, and e-wallets; daily and monthly limits vary by KYC level—unverified users face tighter limits, while advanced-verified accounts enjoy unlimited access—and deposit times range from instant to a few business days depending on the method and region.

Upbit allows fiat deposits primarily via local bank transfers (e.g. KRW in Korea, SGD in Singapore) once you reach full verification; minimums vary, processing typically takes 1–3 business days.

Supported Fiat Currencies & Conversion

Upbit allows fiat deposits primarily via local bank transfers (e.g. KRW in Korea, SGD in Singapore) once you reach full verification; minimums vary, processing typically takes 1–3 business days.

KYC (Verification Levels)

BingX offers tiered KYC—Unverified, Basic, and Advanced—with gradually increasing deposit and withdrawal limits; for example, unverified users have modest caps, Basic KYC allows mid-tier limits, while Advanced KYC unlocks unlimited usage and fiat features like launchpad access.

Upbit uses a four-level KYC system—ranging from basic identity checks to full verification with bank linkage—and higher levels unlock larger deposit and withdrawal capacities.

Withdrawals

limits, times, and networks

Crypto withdrawals are permitted across major networks like ERC-20 and TRC-20, with daily limits scaling by KYC level and typical processing within hours.

Customer Support

BingX provides 24/7 support via live chat (web/app) and email, backed by a comprehensive Help Center; response times are generally prompt, and they regularly upgrade their support system to enhance reliability.

Support is available through email and a robust FAQ/help center; users in Korea generally experience faster responses, while international users may wait longer and have less localized documentation.

Languages & Localization

The platform supports multiple languages (English, Spanish, French, etc.) and displays fees in fiat like EUR or USD depending on user region; Turkish support was removed recently due to regulatory changes, but localization remains robust overall.

The platform is available in native English and Korean, displays balances in local currencies (KRW or SGD), and adheres to the relevant local regulatory framework for each region.

App Quality & Stability

The Upbit mobile app is known for its stability and smooth performance, with regular updates, low crash rates, and quick feature rollouts aimed at both beginners and experienced users.

Experience, Performance & Ecosystem

UX/UI

While there’s no official crash-rate metric, users frequently report occasional app crashes or performance hiccups on both Android and iOS; BingX recommends keeping the app updated, clearing cache, and restarting it to mitigate such issues.

The Upbit interface strikes a smart balance between clarity and functionality—offering a simplified view for beginners while still providing comprehensive charts and real-time data for more experienced users, although it doesn’t explicitly label modes as “Lite” or “Pro.”

Performance

Order latency is generally low, ensuring quick fills even under normal market conditions, though performance can slow slightly during volatile spikes; KYC queues may grow during bull runs, causing temporary delays before trading access is granted.

Order latency remains low even during high volatility, and there are no widespread reports of system crashes; however, during market peaks, KYC verification queues may grow noticeably longer, affecting access for new users.

Education

Users enjoy access to a built-in academy with tutorials, demo trading and simulator features to practice risk-free, as well as educational materials increasingly available in Spanish, though the depth varies by content.

While Upbit doesn’t offer demo accounts or a Spanish-language academy, it provides a detailed help center and tutorials that guide beginners through trading, deposits, and security.

Community

There’s an active official presence across forums, Telegram, and occasionally Discord, supported by a referral program that rewards users for bringing in new traders—this community dynamic enhances learning and engagement.

Official community channels such as forums or Telegram groups are limited; referral programs exist but are less central to the user experience compared to peer-driven groups and third-party platforms.

Integrations

The platform integrates with TradingView for advanced charting, supports external trading bots, and works with third-party tax and accounting tools—simplifying strategy execution and post-trading record-keeping.

Upbit supports Open API and WebSocket for developer access and trading automation, but lacks native TradingView integration, external bot marketplaces, or built-in tax/accounting tool integrations.

Who Each One Is Best For

The interface’s dual mode suits both beginners (Lite) and seasoned traders (Pro); the robust ecosystem and tools make it especially attractive for users focused on social trading, automated strategies, and efficient workflow integration.

Upbit is best suited for traders who prioritize a clean, stable interface with transparent spot trading, high liquidity, and a regional focus—especially those located in supported Asian markets looking for reliable, everyday trading rather than highly automated or global multi-tool ecosystems.