South Koreans exhibit unparalleled enthusiasm for cryptocurrencies compared to any other nation. Despite the government’s ban on ICOs and stringent regulations on crypto exchanges, many locals even consider digital assets as part of their retirement portfolios.
With exceptionally high daily trading volumes, identifying the best cryptocurrency exchanges in South Korea is essential. Below, we’ve curated a list of the top 10 platforms, evaluated based on user base, security features, customer satisfaction, and payment options.
10. Youbit
Youbit gained notoriety after being hacked, losing over 3,000 BTC under its former management, Yapizon. The exchange temporarily shut down but relaunched this year under new leadership—Coinbin. Despite skepticism, Youbit has re-emerged with enhanced security measures.
9. Coinlink
Operated by Kosdaq-listed Accupix (primarily a coal and rail communications firm), Coinlink stands out as South Korea’s first Bitcoin exchange backed by a publicly traded company. Fourth Link, its parent company, aims to build a global crypto trading network, starting with partnerships like Glosfar and expanding into China, Japan, and the U.S.
Kosdaq: South Korea’s NASDAQ-equivalent market, ranking fourth globally in listed company市值.
8. Zeniex
Founded in 2018 by Korean and Chinese financial experts, Zeniex currently supports only crypto-to-crypto trades due to banking restrictions. Many Korean banks delay verifying accounts for crypto transactions, citing security concerns.
7. GOPAX
Launched in late 2017 by blockchain firm Streami (partnered with Shinhan Bank), GOPAX offers zero-fee trading and instant registration. While popular for Bitcoin and Stellar trades, its focus on the local market limits English-language resources.
👉 Explore GOPAX’s trading features
6. Coinnest
Coinnest made headlines after its employees were arrested—a first in Korea’s crypto industry. With 500K+ users and diverse coin offerings, it’s known for promoting mainstream crypto adoption via Pundi X Pass cards and POS systems. Tron dominates 50%+ of its daily volume.
5. Coinplug
Famous for okBitcard—a service allowing Bitcoin voucher purchases at 7-Eleven—Coinplug partners with Nautilus Hyosung to operate 7,000+ ATMs nationwide. Its goal is simplifying Bitcoin access for the public.
4. Korbit
Korbit, Korea’s first crypto exchange, holds a 6% market share and is praised for foreigner-friendly services. However, it now restricts non-Koreans from depositing local currency, impacting its international clientele.
3. Coinone
Focused on Bitcoin, Ethereum, and ETC, Coinone educates users on healthy trading practices. Despite a regulatory raid, it’s expanding globally, eyeing Southeast Asian partnerships for fintech ventures.
👉 Learn about Coinone’s security measures
2. Bithumb
Commanding 33% of Korea’s market, Bithumb processes 250B+ KRW daily. It collaborates with Korea Pay’s Services to trial crypto payments and develops tools like Touchpad and Bithumb Cache for user convenience.
1. Upbit
Backed by Kakao (operator of Korea’s top messaging app), Upbit leads with 53% market share and 1.3T KRW in daily trades. Its partnership with Bittrex offers 120+ cryptocurrencies, and plans for the UBCI index aim to standardize market trends.
FAQ Section
Q1: Which exchange is best for beginners?
A: GOPAX’s zero-fee, user-friendly interface suits newcomers.
Q2: Can foreigners use Korean exchanges?
A: Most require Korean bank accounts; Korbit and Bithumb have restrictions.
Q3: Are these exchanges secure?
A: Platforms like Upbit and Coinone prioritize compliance and audits.
Q4: What’s the most traded crypto in Korea?
A: Bitcoin and Ethereum dominate, but altcoins like Tron also thrive.
Q5: How do I buy Bitcoin without a bank account?
A: Use Coinplug’s okBitcard at 7-Eleven stores.
Q6: Is crypto taxable in Korea?
A: Yes—capital gains from trading are subject to taxation.