Top 10 Cryptocurrency Exchanges in South Korea

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South Korea has emerged as one of the most active markets for cryptocurrency trading, driven by high public interest and advanced digital infrastructure. Despite strict government regulations—such as bans on initial coin offerings (ICOs) and stringent oversight of crypto exchanges—Korean investors continue to embrace digital assets, with some even treating them as part of long-term retirement planning.

With massive daily trading volumes and a tech-savvy population, South Korea's crypto ecosystem is both dynamic and highly competitive. In this guide, we explore the top 10 cryptocurrency exchanges in South Korea, ranked based on key factors like user base, security measures, customer satisfaction, supported payment methods, and market influence.

10. Youbit – A Comeback After Crisis

Youbit made headlines in the past due to a major security breach that resulted in the theft of over 3,000 BTC. Originally operated by Yapizon, the exchange temporarily shut down following the hack and subsequent financial collapse.

However, in a surprising turn of events, Youbit has returned under new management—Coinbin—with enhanced security protocols and a restructured operational model. While trust remains a concern for some users, the relaunch signals resilience and ambition within Korea’s crypto space.

This revival highlights an important trend: even after severe setbacks, innovation and recovery are possible in the fast-evolving blockchain industry.

👉 Discover how secure platforms are reshaping digital asset trading today.

9. Coinlink – Backed by a Publicly Listed Company

Coinlink stands out as the first cryptocurrency exchange in South Korea operated by a KOSDAQ-listed company, Accupix. Known primarily for coal sales and railway communication systems, Accupix ventured into blockchain through its subsidiary, Fourth Link, which now manages Coinlink.

Being backed by a publicly traded firm adds a layer of credibility and regulatory compliance. The platform emphasizes system security and long-term reliability.

Coinlink aims to build a global crypto trading network, starting with a strategic partnership with Glosfar—a Korean service provider specializing in Bitcoin transfers. Expansion plans include alliances with partners in China, Japan, the U.S., the Philippines, Indonesia, and South Africa.

KOSDAQ Note: Launched in 1996, KOSDAQ is South Korea’s equivalent of NASDAQ—an electronic stock market focused on emerging and tech-driven companies. It ranks among the world’s most active创业板 (Growth Enterprise Markets).

This institutional support positions Coinlink as a bridge between traditional finance and decentralized digital assets.

8. Zeniex – Focused on Simplicity and Security

Launched in February 2018, Zeniex was co-founded by financial and cybersecurity experts from South Korea and China. The platform allows users to buy and sell cryptocurrencies but faces limitations due to banking restrictions.

Many major Korean banks have been hesitant to provide real-name verification accounts for crypto platforms due to regulatory uncertainty and fraud risks. As a result, Zeniex operates within these constraints, offering a streamlined interface focused purely on trading.

Despite limited banking integration, Zeniex maintains strong security standards and caters to users who prioritize ease of use and fast execution.

7. GOPAX – User-Friendly with Zero Fees

GOPAX, short for Global Online Professional Asset Exchange, launched in late 2017 by blockchain company Streami, which collaborates with Shinhan Bank—one of South Korea’s largest financial institutions.

One of GOPAX’s biggest advantages is its instant trading access—users can start trading on the day they register. The entire process is intuitive, all-in-one-page design, and best of all: zero transaction fees.

While Bitcoin and Stellar dominate trading volume, GOPAX has expanded to include Ripple (XRP). The platform also runs frequent promotional campaigns offering free tokens to attract new users.

However, GOPAX remains largely focused on the domestic market. English-language support and international feedback are limited, making it less accessible to non-Korean speakers.

6. Coinnest – Innovation Amid Controversy

Coinnest gained notoriety when one of its employees was arrested by South Korean authorities—an incident that raised concerns about compliance. Nevertheless, the exchange boasts over 500,000 members and offers one of the widest selections of tradable cryptocurrencies in the country.

A standout feature is its integration with Pundi X’s Pass Card and POS terminals, allowing users to load crypto via mobile apps or physical kiosks. This initiative aims to bring cryptocurrency into mainstream retail use.

In January, Coinnest sold out its public token offering in just 90 minutes, demonstrating strong community support. Over half of its daily trading volume comes from Tron (TRX), highlighting regional preferences in altcoin adoption.

5. Coinplug – Bridging Crypto and Everyday Life

Coinplug is best known for its okBitcard service, which allows Koreans to purchase Bitcoin vouchers at over 7,000 ATMs across the country—including locations like 7-Eleven and Mini Stop.

All users need is a phone number or credit card. This low-barrier entry method makes it easy for beginners to acquire small amounts of Bitcoin without navigating complex exchanges.

This widespread accessibility is made possible through a partnership with Nautilus Hyosung, South Korea’s leading ATM hardware manufacturer. Coinplug’s mission is clear: make Bitcoin part of everyday financial life.

The company planned international expansion by the end of 2018 and continues to innovate in offline-to-online crypto integration.

4. Korbit – Pioneer with Strong Security

As South Korea’s first cryptocurrency exchange, Korbit holds a historic position in the market. It commands around 6% market share and is known for low fees, robust security, and bank-level identity verification.

Korbit was among the first to comply with government regulations requiring real-name bank accounts for trading. However, it faced backlash when it blocked non-Korean citizens from depositing Korean won, leading to a loss of foreign users.

Still, its reputation for reliability and transparency keeps it a top choice for local traders seeking a regulated environment.

3. Coinone – Education-Focused Market Leader

Coinone focuses primarily on Bitcoin, Ethereum, and Ethereum Classic, holding approximately 8% of the Korean market. It has grown from 20 employees in early 2017 to over 100 today, serving more than 600,000 users and generating monthly revenues exceeding ₩20 billion.

What sets Coinone apart is its commitment to user education. For every listed token, Coinone publishes detailed technical analyses to promote informed trading decisions.

Although raided by regulators in 2018 for ledger inspections, the incident did not hinder growth. Coinone now aims to become a full-service fintech platform offering remittance, investment advisory, and insurance solutions.

It’s also exploring joint ventures with Southeast Asian exchanges to expand globally.

2. Bithumb – The Market Giant

Bithumb dominates with 33% market share and over ₩2.5 trillion in daily trading volume. It supports major cryptocurrencies like Litecoin, Dash, Bitcoin, and Ethereum, all tradable against the Korean won.

Bithumb actively promotes real-world crypto usage. In 2018, it partnered with Korea Pay's Services to enable brands to accept crypto payments. Projects like Touchpad, Touchbone, and Bithumb Cache aim to simplify digital currency transactions.

Its influence extends beyond trading—it’s shaping how Koreans interact with money in a digital age.

1. Upbit – The Undisputed Leader

Backed by Kakao, the tech giant behind Korea’s most popular messaging app KakaoTalk, Upbit leads the market with 53% share and a staggering ₩1.3 quadrillion in 24-hour trading volume.

Operated by Dunamu Inc., Upbit offers over 120 cryptocurrencies, thanks to its strategic partnership with Bittrex. Its seamless integration with KakaoTalk enhances user accessibility and trust.

Upbit is developing the Upbit Crypto Index (UBCI)—a benchmark index designed to reflect market trends and guide future ICOs in Korea. This initiative could standardize valuation metrics across startups and institutional investors.

As innovation accelerates, Upbit is positioned not just as an exchange—but as a foundational pillar of Korea’s digital economy.

👉 See how next-generation exchanges are setting new standards in speed and security.

Frequently Asked Questions (FAQ)

Q: Are cryptocurrency exchanges legal in South Korea?
A: Yes, crypto exchanges are legal but heavily regulated. They must comply with anti-money laundering (AML) rules, real-name banking verification, and reporting requirements.

Q: Can foreigners use Korean crypto exchanges?
A: Some platforms allow foreign access, but many—including Korbit—restrict KRW deposits to Korean residents only. Foreigners may still trade using existing crypto balances.

Q: Which exchange has the highest trading volume?
A: Upbit leads in daily trading volume, followed closely by Bithumb.

Q: Is my money safe on these exchanges?
A: Reputable platforms like Upbit, Bithumb, and Korbit implement multi-layered security including cold storage, two-factor authentication (2FA), and regular audits.

Q: Do Korean exchanges support English?
A: Major platforms like Upbit and Bithumb offer partial English interfaces, but many features remain optimized for Korean users.

Q: How do I deposit Korean won into a crypto exchange?
A: Users typically link a local bank account with real-name verification. Deposits are made via bank transfer once identity is confirmed.

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