Exchange
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Spot Trading volume (within 24 hours)
$851,193,299.98
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About Upbit
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What does centralized exchange mean?
A centralized exchange generally refers to a custodial asset trading place controlled and managed by a company or operating entity. Users need to deposit their assets on the platform to start trading. In traditional finance, stock exchanges such as NYSE, Nasdaq, etc. are all centralized exchanges. Binance, Coinbase, and Kraken are centralized exchanges in the crypto industry. Their operations are similar to Nasdaq, using a central order book model to match transactions and determine asset prices.
What is a Decentralized Exchange (DEX)?
A decentralized exchange (DEX) is a trading platform that does not rely on a central authority to hold users’ assets. Users can trade tokens directly through a digital wallet. Transactions are executed automatically on the blockchain via smart contracts, keeping funds under the user’s control and fully transparent. DEXs support automated market making (AMM), liquidity provision, and token swapping, allowing users to trade and earn without registration or custody, and serving as an important gateway to the decentralized finance (DeFi) ecosystem.
What fiat currencies does Upbit support?
Upbit currently supports 1 fiat currencies: KRW.
Spot Exchange
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