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What is the transaction fee of Upbit Exchange?
Upbit Exchange offers varying transaction fees based on trade type, volume, and membership level, with higher volume traders enjoying reduced fees under the exchange's tiered fee structure.
Oct 08, 2024 at 10:06 am
Upbit Exchange Transaction Fees
Overview
Upbit Exchange, a leading cryptocurrency exchange in South Korea, charges varying transaction fees based on the type of trade, volume, and membership level. This article will provide a detailed breakdown of Upbit's transaction fee structure.
Tiered Fee Structure
Upbit operates a tiered fee structure based on a user's trading volume. The higher the trading volume, the lower the transaction fee. The exchange categorizes traders into two tiers:
- General Tier: For users with less than 500 BTC in trading volume within the past 30 days.
- VIP Tier: For users with more than 500 BTC in trading volume within the past 30 days.
Transaction Fees for Bitcoin (BTC) Pairs
| Trade Type | General Tier Fee | VIP Tier Fee |
|---|---|---|
| Spot | 0.1% | 0.07% |
| Margin | 0.15% | 0.09% |
| Futures | 0.07% | 0.05% |
Transaction Fees for Ethereum (ETH) Pairs
| Trade Type | General Tier Fee | VIP Tier Fee |
|---|---|---|
| Spot | 0.15% | 0.09% |
| Margin | 0.2% | 0.12% |
| Futures | 0.1% | 0.07% |
Transaction Fees for Other Cryptocurrency Pairs
Transaction fees for other cryptocurrency pairs vary depending on the market. Traders can check the specific fee rates for each pair on Upbit's website.
Additional Fees
1. Withdrawal Fees
Upbit charges withdrawal fees for certain cryptocurrencies. The withdrawal fee is deducted from the withdrawn amount.
2. Mobile Fee
A 5% convenience fee is applied to trades made through the Upbit mobile app if the total transaction value exceeds 4,000,000 KRW.
Conclusion
Upbit Exchange offers a competitive transaction fee structure that rewards high-volume traders. The tiered fee system and specific fees for different trade types provide flexibility and cost savings for users. By understanding Upbit's fee structure, traders can optimize their trading strategies to minimize expenses.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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