Bitcoin, Exchange Reviews, Startups

Korbit review: South Korea’s biggest bitcoin exchange


Korbit is an exchange based out of Seoul with the highest trade volume in both bitcoin and ethereum.

The exchange was founded by a South Korean named Louis Jinhwa Kim, and through government support, Louis was able to tap into Silicon Valley investor fund.

Korbit is renowned for the cutting edge technology it employs in its platform which makes trading as easy as Sunday Morning.

Subscribers

The company is the first to conduct a thriving bitcoin to Won exchange and keeps beckoning to global subscribers, with the main platform set up exclusively for the Koreans, and a subsidiary platform for members out of English-speaking countries.

Security

Members need not worry about hackers attacking the exchange and fleecing them of their digital wealth, for customer fund is covered against such loss, and what’s more; most of the digital wealth is stored in cold wallets, and so, hackers would not get their way.

Blockchain

The company joins the list of global leaders in blockchain advancement with peers like Medici Ventures. Korbit relies on blockchain technology in most areas that it executes business. And also it helps (or rather partners with) startups that share in its blockchain philosophia.

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Finance services

Korbit is the first exchange to facilitate remittance of bitcoin in South Korea.

As long as you meet the obligatory conditions, Korbit will let you send bitcoins to your bank account, more specifically, the fiat-money equivalent of your bitcoin deposit, and the best part about it is that you will not be charged!

Global

Through Korbit, one may receive bitcoin payments from anywhere in the world at a small charge.

Korbit continues to position itself as a Globe-encompassing exchange that will cater to bitcoiners without paying regards to where they are located.

Of course, it hasn’t acquired this distinction yet, but the system is in gear.

Criticism

Apparently, Korbit is in the habit of imposing a three-day lock on your funds when you first make a deposit, and surprisingly, your funds are still locked on subsequent deposits!

Not good!

Conclusion  

It’s a good enough exchange. Give it a try.

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