UPbit (Upbit) cannot be registered by Japanese people!? A comprehensive summary of features, advantages, and disadvantages of using it

As a Korean cryptocurrency exchange, UPbit (Upbit) is always among the world's top in trading volume, but unfortunately Japanese people cannot register.

However, since opening an exchange in Singapore in October 2018, it is a cryptocurrency exchange with promising future developments.

In this article, we thoroughly introduce why Japanese people cannot register with Upbit, its characteristics, and the merits and demerits of using it.

The reasons why Japanese people cannot register will be shared based on my actual experiences, so please read to the very end.

What is UPbit (Upbit) / Features

UPbit (Upbit) is a cryptocurrency exchange operated by Dunamu, a Korean company established in October 2017.

Dunamu is invested in by Kakao Corp., the operator of KakaoTalk, and is a group company of Kakao Corp.

KakaoTalk is the Korean version of LINE, a world-renowned messaging app, so there is talk that it will expand services integrated with cryptocurrency in the future.

However, UPbit is basically available only to residents of Korea, and its homepage is in Korean only, making it a feature that people from other countries cannot use.

Nevertheless, since opening UPbit Singapore in October 2018, it is expected that users outside Korea will increase in the future.

Also, UPbit handles more than 150 kinds of currencies, which is a feature of having many listed cryptocurrencies worldwide.

Another feature of Upbit is the large number of users.

It has publicly stated that total members exceed 1.2 million and concurrent users exceed 300,000, boasting overwhelming numbers compared with other exchanges.

The large number of users implies high liquidity in trading, so traders can expect to achieve more returns by engaging in high-frequency trading.

UPbit (Upbit) — Japanese cannot register!?

In conclusion, UpbitJapanese people cannot register.

Not only Japanese, but residents of Korea can use it, so foreigners cannot use it.

As you can see from the image below, it is also stated on Upbit's official site.

Source:Upbit Official Site

As a principle, you cannot use Upbit, but if you really want to use Upbit, you can use it by registering with the following four mobile carriers.

Source:

I registered with KakaoTalk and was able to progress up to the above image, but since I did not own a mobile device promoted by Upbit, I abandoned registration.

The four mobile devices mentioned above are similar to au, Docomo, and SoftBank in Japan, so if you are residing in Korea, it would be worth trying to register with Upbit.

UPbit (Upbit) Fees and Currencies Available for Trading

Source:

The four currencies that can be traded on Upbit are as follows.

• Korean Won (KRW)
• BTC
• ETH
• USDT

These four currencies are listed above, and the fees are as follows, as can be seen in the above image.

Upbit's fees are very low when trading in Korean Won (KRW).

For details, please refer to Upbit's Fee List.

>>>Upbit Official Site “Fee List”

Demerits of Using UPbit (Upbit)

The demerits of using UPbit are that Japanese people cannot register and it is not available in Japanese.

Regarding why Japanese people cannot register with Upbit, as mentioned above.

Regarding lack of Japanese language support, as of now (November 20, 2018), it supports English.

Since it started opening exchanges in Singapore from October 2018, it has added English support in addition to Korean, but for Japanese people, using an exchange without Japanese support is considered risky.

For example, if the exchange servers fail and trading cannot proceed, or if the exchange stops suddenly, not having detailed explanations in Japanese can be very unsettling.

Also, if the exchange is hacked, understanding security information and guarantees for lost coins becomes difficult with only English explanations.

Therefore, even if UPbit offers many cryptocurrencies, for Japanese people who can only use Japanese, it may be difficult to use.

Benefits of Using UPbit (Upbit)

There are drawbacks to using Upbit, but there are two main benefits to using it.

The benefits of using Upbit are .......Continue here ⇩

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