Top 10 Cryptocurrency Exchanges in South Korea

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South Korea has emerged as one of the most enthusiastic markets for cryptocurrency adoption. Despite strict government regulations and a ban on domestic ICOs, Korean investors remain deeply engaged in digital assets—many even treating crypto as part of their long-term retirement planning.

With some of the highest daily trading volumes globally, it's essential to understand which platforms dominate the local market. Based on user base, security features, customer satisfaction, payment options, and regulatory compliance, here’s a curated list of the top 10 cryptocurrency exchanges in South Korea.

10. Youbit

Youbit made headlines after suffering two major cyberattacks that resulted in the loss of over 3,000 bitcoins—a devastating blow that led to its temporary shutdown. Originally operated by Yapizon, the exchange was considered a casualty of poor security practices.

However, Youbit has made a surprising comeback under new management: Coinbin, a fresh team focused on rebuilding trust and strengthening cybersecurity infrastructure. While skepticism remains due to its troubled past, the relaunch signals resilience and renewed ambition in Korea’s competitive crypto landscape.

Rebuilding after bankruptcy is no small feat, but Youbit aims to regain relevance with improved protocols and transparent operations. Only time will tell if users are willing to give it a second chance.

👉 Discover how secure trading platforms are shaping the future of digital finance.

9. Coinlink

Coinlink stands out as the first cryptocurrency exchange operated by a Kosdaq-listed company, Accupix. This unique position lends it institutional credibility rare among crypto startups. While Accupix’s core business includes coal sales and railway communication systems, its foray into blockchain through Coinlink marks a strategic pivot toward fintech innovation.

Operated by Fourth Link, Coinlink emphasizes security and reliability. The platform has already signed a partnership with Glosfar, a South Korean firm specializing in Bitcoin transfers, laying the groundwork for broader financial integration.

Their vision extends beyond Korea—they aim to build a global crypto trading network through alliances with partners in China, Japan, the United States, the Philippines, Indonesia, and South Africa.

Kosdaq, launched in 1996, is Korea’s answer to Nasdaq—an electronic securities market under the Korea Exchange. It ranks among the world’s most active创业板 (Growth Enterprise Markets), trailing only Nasdaq in trading volume and turnover.

This institutional backing makes Coinlink a noteworthy player, especially for investors seeking regulated exposure to digital assets.

8. Zeniex

Launched in February 2018, Zeniex was co-founded by financial and cybersecurity experts from South Korea and China. Designed primarily for buying and selling cryptocurrencies, the platform faces challenges common across the industry: limited banking support.

Many major Korean banks have been hesitant to provide real-name bank accounts for crypto transactions due to regulatory uncertainty and security concerns. As a result, Zeniex operates within these constraints, focusing on secure peer-to-peer trading and compliance.

Despite these hurdles, Zeniex continues to refine its user experience and expand its asset offerings. Its cross-border roots also suggest potential for future international growth.

7. GOPAX

GOPAX—short for Global Online Professional Asset Exchange—is a relatively new entrant launched at the end of 2017 by Streami, a blockchain technology company partnered with Shinhan Bank. One of its standout features is instant trading access: users can trade on the same day they register.

The interface is intuitive, all functions are consolidated on one page, and best of all—there are no trading fees. Most trading volume comes from Bitcoin and Stellar (XLM), with Ripple (XRP) recently added to boost liquidity.

GOPAX has run multiple promotional campaigns offering free tokens to attract users. However, its heavy focus on the domestic market means English-language support and global feedback are limited—a drawback for international users.

Still, its ease of use and zero-fee model make it a favorite among local retail traders.

6. Coinnest

Coinnest gained notoriety when one of its employees was arrested by South Korean authorities—an early example of increased government oversight in the sector. Yet, it remains one of the country’s most diverse exchanges, offering more cryptocurrencies than almost any other platform.

With over 500,000 members, Coinnest supports innovative tools like the Pundi X Pass Card, allowing users to load crypto via mobile apps or physical POS terminals. This initiative aims to bring digital currencies into everyday use, especially for unbanked or underbanked populations.

In January, their public token sale sold out in just 90 minutes, highlighting strong community demand. Notably, Tron (TRX) dominates trading activity on Coinnest, accounting for over half of daily volume.

👉 See how real-world crypto adoption is accelerating through payment-integrated platforms.

5. Coinplug

Coinplug is widely recognized for its okBitcard service—allowing Koreans to purchase Bitcoin vouchers at over 7,000 ATMs nationwide, including locations like 7-Eleven and Mini Stop. Users only need a phone number, making it one of the easiest ways to buy small amounts of BTC without complex verification.

This accessibility is made possible through a partnership with Nautilus Hyosung, Korea’s largest ATM hardware manufacturer. By embedding crypto purchasing power into existing infrastructure, Coinplug lowers barriers to entry.

Their mission is clear: democratize access to Bitcoin. With plans to expand internationally by the end of 2025, Coinplug could become a model for bridging traditional finance and decentralized assets.

4. Korbit

As South Korea’s first-ever cryptocurrency exchange, Korbit holds a pioneering status in the market. It currently commands around 6% of national trading volume and is known for low fees and robust security.

Korbit once stood out for being foreigner-friendly, but in recent years it restricted non-Korean citizens from depositing Korean won—a move that caused it to lose international users.

Nonetheless, Korbit remains compliant with government regulations, requiring users to link bank accounts for identity verification—a standard now adopted across the industry.

It also offers remittance services, positioning itself as more than just an exchange but a full-service fintech platform.

3. Coinone

Coinone focuses heavily on Bitcoin, Ethereum, and Ethereum Classic, holding approximately 8% of the Korean market share. From a team of 20 in early 2017, it has grown to over 100 employees and serves more than 600,000 users—with monthly revenues exceeding 20 billion KRW.

The exchange promotes responsible trading through educational initiatives and publishes technical analyses for every listed token.

Although raided by regulators in 2018 for ledger inspections, Coinone continued expanding. Today, it aims to evolve into a global fintech leader offering remittances, investment advisory, and insurance services.

Strategic talks are underway to form joint ventures with Southeast Asian exchanges—an indication of its regional ambitions.

2. Bithumb

Bithumb is one of South Korea’s largest and most influential crypto exchanges, capturing 33% of the domestic market and processing over 250 billion KRW in daily trades.

It supports major coins like Litecoin, Dash, Bitcoin, and Ethereum, all tradable against the Korean won. Bithumb actively promotes real-world usage of digital currencies through partnerships with local brands via Korea Pay’s Services.

Innovations like Touchpad, Touchbone, and Bithumb Cache streamline payments and enhance user experience. Recently integrating Dash into its ecosystem shows ongoing commitment to expanding utility.

Its dominance reflects both technological advancement and deep market penetration.

1. Upbit

Topping the list is Upbit, backed by Kakao—the tech giant behind Korea’s most popular messaging app, KakaoTalk. Operated by Dunamu Inc., Upbit holds a staggering 53% market share and reports a 24-hour trading volume exceeding 1.3 trillion KRW.

Thanks to a strategic partnership with Bittrex, Upbit lists over 120 cryptocurrencies, far more than most local competitors. Integration with KakaoTalk enhances user engagement and accessibility.

Upbit is also developing the Upbit Crypto Index (UBCI)—a benchmark index designed to reflect market trends and guide future investments. This could become a critical tool for institutional investors and emerging ICOs in Korea.

As regulation evolves, Upbit continues to set the standard for innovation, security, and scale.

👉 Explore next-generation exchange features powering platforms like Upbit today.

Frequently Asked Questions (FAQ)

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

Q: Can foreigners use Korean crypto exchanges?
A: Some exchanges allow foreign access, though 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 in Korea?
A: Upbit leads by far with over half the national market share and the highest daily trading volume.

Q: Is it safe to store crypto on Korean exchanges?
A: Reputable platforms like Upbit and Bithumb invest heavily in security. However, users are advised to withdraw large holdings to private wallets for maximum safety.

Q: Do Korean exchanges support fiat currency deposits?
A: Yes—most top exchanges allow KRW deposits via bank transfer after completing identity verification and linking a real-name account.

Q: How do I choose the best crypto exchange in Korea?
A: Consider factors like security measures, available coins, trading fees, customer support, ease of deposit/withdrawal, and regulatory compliance.

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