Markets, orders and account structure
Sections ↑Upbit’s Korean exchange is operated by Dunamu Inc. Its spot markets use KRW, BTC and USDT as quote assets, with separate verification requirements for KRW access. This profile principally covers that Korean service; the Singapore operation has its own operator and regulatory entry. Balances and permissions should be assessed against the actual regional account.[36][1][23]
Availability01
What each service does
| Service | Operation and relevant boundary |
|---|---|
| Spot markets | Customers submit orders to buy or sell the listed digital asset. The Korean trading guide covers KRW, BTC and USDT markets; price and time determine priority.Source 29 |
| Coin Collecting | Scheduled recurring purchases are charged at the ordinary KRW-market rate stated in the service FAQ. The feature is an automatic purchase instruction, not a deposit yield.Source 2 |
| Staking | Upbit describes operating its own validators. Confirming an application starts a pending/active workflow; pending assets earn no reward, and an authenticated application cannot simply be cancelled. Network-dependent unstaking must finish before the balance returns to the exchange.Source 11 |
| Coin Borrowing | A separate collateralised borrowing service requires an eligible account level plus DAXA education and a suitability assessment. The guide allows borrowing up to 85% of adjusted eligible collateral; asset haircuts affect that calculation. It is a borrowing contract alongside spot access.Source 12 |
Platforms & products02
Order handling on PC web and the mobile app
| Control | Published behaviour |
|---|---|
| IOC | Executes whatever can fill immediately; the unfilled remainder is cancelled. A partial execution is possible.Source 13 |
| FOK / best-limit | FOK requires immediate full execution or cancellation. Best-limit orders use the best opposing price and must use IOC or FOK. These controls are documented for PC web and the mobile app across the three markets.Source 13 |
| Conditional limit and TWAP | A reservation watches a trigger and then submits a limit order; reaching the trigger does not guarantee a fill. TWAP divides an instruction into periodic market or IOC-limit orders.Source 29 |
| Cancellation | An instruction can be cancelled before execution, but an execution that wins the race remains effective. Maintenance can cancel buys above, and sells below, the last pre-maintenance trade price.Source 29 |
Specifications03
Published order-notional boundaries
Trading, staking and transfer charges
Sections ↑Pricing & charges04
Charges with their actual basis
| Cost | Published basis | What remains outside it |
|---|---|---|
| Ordinary KRW spot / Coin Collecting | The Coin Collecting FAQ explicitly states 0.05%, matching ordinary KRW trading. | Other markets, special order routes and time-limited events require their own live tariff.Source 2 |
| Trade settlement | Executed quantity × execution price × applicable fee rate. A buy debits notional plus fee; a sale credits proceeds less fee. VAT is included. | For a limited-time fee event, submission time determines eligibility rather than fill time.Source 3 |
| KRW withdrawal | ₩1,000 per withdrawal, inclusive of VAT. | A trade fee and the later bank withdrawal fee are separate charges.Source 4 |
| Crypto transfer | Normal withdrawal fee depends on asset/network. Korea’s internal Baro and mobile-number transfers are listed as free. | A fixed withdrawal fee is charged per transaction; minimum quantities still matter.Source 4 |
| Staking | 10% of staking rewards; rewards are added to the staked amount. | The deduction is from rewards, not a quoted annual charge on principal. Reward frequency and network waiting differ by asset.Source 10 |
| Coin Borrowing | Charges use the day’s maximum borrowed quantity; the application supplies the applicable rate. Collateral is released after full repayment. | The guide identifies a 95% loan-to-collateral boundary for forced repayment. Collateral values and haircuts can change the ratio.Source 12 |
Illustration using the stated ordinary KRW rate: a ₩1,000,000 purchase incurs ₩500 in trading fees. A separate sale for the same notional incurs another ₩500. The ₩1,000 total covers those two fills only; price changes, the bid–ask spread and any later withdrawal charge are additional economic effects.[2]
The general fee FAQ’s worked 0.139% reservation-order example explains settlement arithmetic; it does not establish a universal tariff. The full market fee schedule is linked for PC-web viewing. This profile therefore does not extend the 0.05% KRW figure to every market or order route.[3]
Cash movements, crypto transfers and available balances
Sections ↑Transfer terms05
How funds enter and leave the Korean account
| Route | Required steps and restrictions |
|---|---|
| KRW in | Fund the linked K Bank account, then request a KRW deposit inside Upbit and complete two-channel authentication. The app and PC-web instructions both distinguish the bank balance from the KRW balance credited to Upbit.Source 33 |
| KRW out | The withdrawal fee is ₩1,000 per request. KRW access requires the verified real-name bank route and completed two-channel authentication; member and bank-account restrictions can constrain the amount.Source 4Source 6 |
| Crypto in | Use the supported asset and network and meet the minimum deposit quantity. At KRW-equivalent 1 million or more, the documented routes include Travel Rule-connected or owner-verification venues, assessed overseas providers and registered personal wallets. Prohibited unregistered foreign providers are restricted regardless of amount.Source 8 |
| Crypto out | At KRW-equivalent 1 million or more, excluding the fee, destinations must satisfy the supported exchange/account-verification or registered personal-wallet route. Smaller transfers still face counterparty restrictions. Mobile withdrawals require two-channel authentication; the FAQ distinguishes the PC-web route where it is not enabled.Source 9 |
| Baro internal transfer | Off-chain transfer between Upbit Korea users, recorded in account history. The FAQ gives an indicative one-minute process but allows delays. This route does not extend to Upbit Singapore or Indonesia. Normal transfers use the blockchain and Upbit’s sending hot wallet.Source 7 |
Process06
Why displayed holdings can exceed withdrawable funds
| Condition | Effect |
|---|---|
| First KRW deposit | Crypto withdrawals are restricted for 72 hours from the first deposit. Subsequent KRW deposits normally restrict the corresponding crypto value for 24 hours per deposit, valued when withdrawal is requested. Risk-based exceptions may vary.Source 5 |
| Reserved or pending funds | The available balance subtracts open-order and pending-withdrawal reservations and fees. Daily account caps still apply; splitting assets into Pockets does not create independent daily withdrawal allowances.Source 5 |
| Limits and checks | Asset minimums, daily caps and fraud investigations can block a request even with a positive holding. The published daily-limit reset is midnight; member-specific availability is shown in the account.Source 6 |
| Promotional voucher | An asset voucher credits the specified crypto; other vouchers may be external codes or physical goods. Individual voucher details determine the benefit. A displayed reward must not be assumed to be unrestricted KRW or immediately withdrawable cash.Source 35 |
Custody records and the protection boundary
Sections ↑Protections & eligibility07
What the inspected protection evidence establishes
| Evidence | Scope and practical limit |
|---|---|
| Korean statutory framework | The FSC describes bank safekeeping of customer cash, separation of customers’ crypto from providers’ assets, holdings matching customer asset types/quantities, and insurance or reserves for specified incident liabilities. These are distinct obligations; they do not promise reimbursement of every crypto loss.Source 20 |
| Dated asset procedures | BDO Sunghyun’s report, signed 24 April 2026, tested Dunamu balances at midnight KST on 31 March. Procedures reconciled crypto records and selected wallet-control tests, and compared bank evidence with separately held user deposits. It reported holdings exceeding the compared customer balances.Source 21 |
| Assurance and insurance limits | The report explicitly provides no audit or review assurance and does not cover the complete financial statements or later events. The inspected evidence does not establish a current individual insurance payout limit or the shared policy aggregate. The March snapshot is not an October solvency certification.Source 21 |
Staking moves assets through network-specific activation and exit stages. Its reward page distinguishes daily distributions for some assets from epoch-based distributions for others. Expected yield and an available exchange balance are different: even accrued rewards may remain staked, and a network exit has to complete before normal disposal.[10]
Retail and corporate eligibility
Sections ↑Regional comparison08
Who can use which market
| Account scope | Documented access conditions |
|---|---|
| Korean individual account | Customer verification is mandatory. A verified K Bank real-name account is required for KRW-market access; the policy permits verified BTC/USDT access without that KRW banking link.Source 1 |
| Resident foreigners | The policy accepts specified foreign-resident identity documents and requires evidence of Korean tax residence with sufficient remaining residence validity. Nonresidents, including Korean nonresidents, are excluded. A foreign passport alone is not the stated verification route.Source 1 |
| Renewal | Late periodic verification can cancel open orders and progressively restrict trading, deposits and withdrawals before the deadline. Notices should therefore be dealt with before expiry, even for an already-funded account.Source 1 |
| Corporate account | The corporate guide restricts KRW cash-out access to eligible law-enforcement bodies, qualifying nonprofits and qualifying crypto exchanges under the applicable guidelines. Other accepted domestic corporate categories use BTC/USDT markets. Enhanced checks cover purpose and source of funds; a corporate registration does not establish ordinary unrestricted KRW trading.Source 30 |
Security controls, support and records
Sections ↑Process09
Security actions have different effects
| Action | Effect and recovery |
|---|---|
| App self-lock | Withdrawal lock prevents new requests, including new staking applications, but does not recall requests already submitted. Order lock does not cancel existing orders, including reservations; it also covers API submissions through main and subpockets. Existing borrowing remains in force.Source 31 |
| Release the self-lock | Submit a 1:1 request for identity verification. The stated release process can take one business day. A locked account is not an instruction to liquidate every position or repay a borrowing automatically.Source 31 |
| Lost account access | The account-lock FAQ directs users to the 24-hour Korean financial-incident line, 1533-1111. The self-lock guide also lists round-the-clock KakaoTalk and 1:1 assistance when the app cannot be accessed. These are security/support routes; telephone order execution is not established.Source 32Source 31 |
| Dormant-account recovery | Reactivation checks the identity against the name originally verified. Name or birth-date changes, and affected foreign-member cases, need support assistance. This status rule should be distinguished from an inactivity charge; the inspected recovery FAQ supplies no current inactivity-fee tariff.Source 19 |
Verified support destinations
Korea customer centreWebsite
https://support.upbit.com/hc/koSource 36
Scope Help and authenticated inquiry routes for Dunamu’s Korean service.
Hours Published general telephone hours: weekdays 09:00–18:00 Korea local time; weekends/public holidays excluded.
Account-lock guidanceWebsite
https://support.upbit.com/hc/ko/articles/28428393685529-%EA%B3%84%EC%A0%95-%EC%9E%A0%EA%B8%88%EC%9D%B4-%EB%AD%94%EA%B0%80%EC%9A%94Source 32
Scope Explains the 24-hour financial-incident telephone route for unavailable account access.
For a transaction complaint, preserve the order or withdrawal identifier, timestamps and the disputed amount in the inquiry. The inspected public support material does not establish an external adjudicator or a final complaint-response deadline.
Process10
Statements and exceptional recovery
| Need | Available process |
|---|---|
| Trade and balance records | The certificate service offers transaction statements, balance certificates and interest/dividend withholding documents. App, PC-web and mobile-web requests use an emailed delivery process with a stated target within 24 hours. A transaction statement is not a calculation of every jurisdiction’s tax liability.Source 18 |
| Closed, corporate or Pocket/API account | The certificate guidance directs these cases to support rather than assuming the ordinary self-service path covers them. Dormant users may need identity checks before access.Source 18 |
| Cannot log in and need asset recovery | A separate published procedure generally requires an appointment and identity evidence, with the transferor and recipient visiting the customer centre. Crypto must move as a whole balance to another eligible Upbit member; partial or external-wallet transfers are excluded.Source 34 |
| Completion of that exceptional transfer | The policy states transfer within seven days after signed consent. Remaining KRW can only return to the original member’s real-name bank account. Closure follows only once both crypto and KRW balances are cleared.Source 34 |
Regional permissions and enforcement history
Sections ↑The FSC’s 24 June 2026 published provider list identifies Dunamu as the operator of Upbit. That Korean registration evidence has a specific date and respondent. Separately, MAS lists Upbit Singapore Pte. Ltd. as a Major Payment Institution for digital payment token services; its directory entry was last updated on 25 August 2026. The Singapore permission does not extend the Korean account’s terms worldwide.[22][23]
On 25 February 2025, FIU announced a three-month partial suspension concerning external crypto transfers by newly registered customers, scheduled for 7 March–6 June 2025. Existing customers and spot/KRW activities were outside that specified transfer restriction. This was not an announcement that the entire exchange had closed.[26]
Yonhap reported on 30 April 2026 that FIU appealed the 9 April first-instance judgment cancelling the partial suspension. That later procedural step matters: the original notice should not be presented as an unchanged current onboarding ban, nor the first-instance outcome as a final disposal of every enforcement issue. A later final appeal outcome was not established in the inspected material.[27]
Market scale and the proposed NAVER Financial transaction
Sections ↑CoinGecko showed approximately $602 million of reported rolling 24-hour spot volume, 347 coins and 507 trading pairs when checked on 20 October 2026. These are a changing market-data snapshot, not audited turnover or a count of active customers. They establish substantial recorded spot activity without assigning a permanent global ranking.[25]
NAVER’s 27 November 2025 announcement described board approval for a comprehensive share swap involving NAVER Financial and Dunamu, subject to the transaction’s conditions. It is evidence of a proposed corporate combination, rather than an effective transfer of every Upbit customer contract.[24]
- Operator
- Dunamu Inc. (Korea); separate Upbit Singapore Pte. Ltd. service
- Exchange model
- Centralised
- Service scope
- Korean spot exchange with KRW, BTC and USDT markets, staking, recurring purchases and separately conditioned coin borrowing.
- Client types
- Retail clients; Institutional clients
- Pricing publication
- Public and quoted pricing
- Pricing scope
- Public KRW reference and service fees; live market/borrowing tariffs and event conditions control actual charges.
- Funding scope
- K Bank KRW route and supported crypto networks; deposit-related withdrawal delays, recipient checks and account limits apply.
- Custody and asset handling
- Dunamu custody; Korean statutory segregation obligations and a dated March 2026 agreed-upon-procedures report have distinct scopes.
- Client eligibility
- Verified Korean service users; resident-foreigner and corporate conditions apply. K Bank verification gates KRW access. Singapore is a separate regional service.
- Support
- Korean help centre, 1:1 inquiries and financial-incident account-lock route; record retrieval includes closed-account exceptions.
- Authorisation and registration scope
- Dunamu/Upbit appears in the FSC June 2026 notified-provider list. MAS separately lists the Singapore operator for digital payment token services. Dated FIU sanction and appeal history are explained in the profile.
Exchange metadata checked 20 Oct 2026Source 36Source 1Source 30Source 23Source 22Source 21
Covered contracting entities
Dunamu Inc.
- Jurisdiction
- South Korea
- Covered services
- Upbit Korean exchange and related documented services.
- Client and location scope
- Korean KYC and banking rules; corporate market restrictions.
Upbit Singapore Pte. Ltd.
- Jurisdiction
- Singapore
- Covered services
- Separately identified operator with MAS digital payment token service entry.
- Client and location scope
- Regional admission and product terms are separate from Korea; a complete Singapore tariff is outside this profile.
API authority, Pockets and the developer assistant
Sections ↑Specifications11
Automation controls and account reach
| Control | Documented scope |
|---|---|
| Key authority | Korea API keys separate balance/order reading, trading/cancellation and funding permissions. Requests use signed authentication; a key can allowlist up to ten IP addresses, and its secret is shown once. A read-only key should not be confused with trading or withdrawal authority.Source 15 |
| Pocket boundaries | One main Pocket and up to five subpockets separate balances by purpose. External deposits/withdrawals and account-wide Pocket management belong to the main Pocket; subpockets can have trading and internal asset-transfer permissions. Keys within one Pocket share that Pocket’s request budget.Source 17 |
| API order controls | Limit, market and best-limit orders have different required fields. Post-only is documented for limit orders and cannot combine with self-match prevention. SMP modes include cancellation of the maker, taker or reduction. A user-supplied identifier helps reconcile an order after an uncertain response.Source 14 |
| Current rate groups | The current Korean documentation gives 12 order requests/second/Pocket, 30 default Exchange requests/second/Pocket, and batch cancellation once per two seconds/Pocket. Quotation groups generally allow ten requests/second/IP. These limits are ceilings; 429 requires backoff and repeated excess can trigger a temporary 418 block.Source 16 |
| AI assistant | Upbit Assistant answers Open API questions using developer-centre material. Its conditions describe technical assistance, not investment advice or a mandate to execute trades. They prohibit entering personal identifiers, account numbers or API keys into the assistant. Actual account authority comes from the separate API credentials and permissions.Source 28 |
Sources & further reading
- Customer verification policy Upbit / Dunamu · Accessed 20 Oct 2026
- Coin Collecting trading fees Upbit / Dunamu · Accessed 20 Oct 2026
- Trading fee calculation and settlement Upbit / Dunamu · Accessed 20 Oct 2026
- Withdrawal fees Upbit / Dunamu · Accessed 20 Oct 2026
- Digital-asset withdrawal delays and available balances Upbit / Dunamu · Accessed 20 Oct 2026
- Why a held coin may not be withdrawable Upbit / Dunamu · Accessed 20 Oct 2026
- Normal and instant withdrawals compared Upbit / Dunamu · Accessed 20 Oct 2026
- Digital-asset deposits Upbit / Dunamu · Accessed 20 Oct 2026
- Digital-asset withdrawals Upbit / Dunamu · Accessed 20 Oct 2026
- Staking reward calculation Upbit / Dunamu · Accessed 20 Oct 2026
- Staking service mechanics Upbit / Dunamu · Accessed 20 Oct 2026
- Coin Borrowing service guide Upbit / Dunamu · Accessed 20 Oct 2026
- Best-limit, IOC and FOK orders Upbit / Dunamu · Accessed 20 Oct 2026
- Create an order — Korea API Upbit / Dunamu · Accessed 20 Oct 2026
- Korea API authentication Upbit / Dunamu · Accessed 20 Oct 2026
- Korea API rate limits Upbit / Dunamu · Accessed 20 Oct 2026
- Pocket account structure and API permissions Upbit / Dunamu · Accessed 20 Oct 2026
- Available certificates and request methods Upbit / Dunamu · Accessed 20 Oct 2026
- Dormant-account reactivation problems Upbit / Dunamu · Accessed 20 Oct 2026
- Virtual Asset User Protection Act takes effect on 19 July Financial Services Commission · 17 Jul 2024 · Accessed 20 Oct 2026
- Dunamu digital-asset and deposit agreed-upon procedures report, 31 March 2026 BDO Sunghyun / Dunamu · 24 Apr 2026 · Accessed 20 Oct 2026
- FSC warning and list of notified virtual asset service providers Financial Services Commission · 24 Jun 2026 · Accessed 20 Oct 2026
- Financial Institutions Directory — Upbit Singapore Pte. Ltd. Monetary Authority of Singapore · Accessed 20 Oct 2026
- NAVER and Dunamu announce proposed share-swap combination NAVER · 27 Nov 2025 · Accessed 20 Oct 2026
- Upbit market and reported-volume snapshot CoinGecko · Accessed 20 Oct 2026
- FIU notifies Dunamu of inspection-related sanctions Financial Services Commission · 25 Feb 2025 · Accessed 20 Oct 2026
- FIU appeals judgment cancelling Dunamu partial business suspension Yonhap News Agency · 30 Apr 2026 · Accessed 20 Oct 2026
- Upbit Assistant usage conditions Upbit / Dunamu · Accessed 20 Oct 2026
- Trading guide: orders, size limits and maintenance Upbit / Dunamu · Accessed 20 Oct 2026
- Corporate membership and permitted market access Upbit / Dunamu · Accessed 20 Oct 2026
- Self-lock: withdrawal and order restrictions Upbit / Dunamu · Accessed 20 Oct 2026
- Account lock when access is unavailable Upbit / Dunamu · Accessed 20 Oct 2026
- Funding the Upbit KRW balance Upbit / Dunamu · Accessed 20 Oct 2026
- Asset transfer policy for members unable to log in Upbit / Dunamu · Accessed 20 Oct 2026
- Voucher reward types Upbit / Dunamu · Accessed 20 Oct 2026
- Upbit Korea customer centre Upbit / Dunamu · Accessed 20 Oct 2026
This profile reports dated public information, including exchange-published services and terms. It does not independently test or guarantee trading, custody, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.
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