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:

1. General Tier: For users with less than 500 BTC in trading volume within the past 30 days.
2. 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 The withdrawal fee is deducted from the withdrawn amount.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.