Introduction
Cryptocurrency trading in South Korea operates within a well-defined regulatory framework, overseen by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS). The Korean won (KRW) is widely supported, with bank transfers and credit cards being the most common deposit methods. This guide analyzes the top exchanges based on fees, supported assets, security, and compliance with local regulations.
Top 5 Crypto Exchanges in South Korea
1. Bybit
👉 Explore Bybit's advanced trading features
Key Features:
- Supported Assets: 660+ cryptocurrencies
- Fees: 0.02% (maker) / 0.055% (taker) for futures
- Leverage: Up to 100x
- Unique Offerings: Copy trading, bot trading, and TWAP/Iceberg orders
Pros:
- Low fees with volume-based discounts
- High liquidity for derivatives
- 24/7 customer support
Cons:
- Complex for beginners
- Regulatory restrictions in some regions
2. Binance
👉 Discover Binance's global liquidity
Key Features:
- Supported Assets: 414+ cryptocurrencies
- Fees: 0.02% (maker) / 0.05% (taker) for futures
- Leverage: Up to 125x
Pros:
- Largest exchange by user base (200M+)
- Comprehensive tools (NFTs, staking, P2P)
Cons:
- Not available in all jurisdictions
- Steep learning curve
3. MEXC
Key Features:
- Supported Assets: 2,437+ cryptocurrencies
- Fees: 0% (maker) / 0.02% (taker) for spot
- Leverage: Up to 300x
Pros:
- Lowest fees in the industry
- Extensive altcoin selection
Cons:
- High-risk newly listed coins
- No U.S. access
4. Upbit
Key Features:
- Supported Assets: 216+ cryptocurrencies
- Fees: 0.2% flat rate for spot
- Compliance: Fully regulated in South Korea
Pros:
- Dominant local exchange (8M users)
- Beginner-friendly
Cons:
- No leverage trading
- Frequent hack attempts
5. Bitunix
Key Features:
- Supported Assets: 317+ cryptocurrencies
- Fees: 0.02% (maker) / 0.06% (taker)
- KYC: Not required
Pros:
- No identity verification
- Up to 100x leverage
Cons:
- Limited staking options
- Newer platform
Comparative Analysis
| Exchange | Best For | KRW Support | KYC Required |
|---------------|-------------------|-------------|--------------|
| Bybit | Derivatives | Yes | Yes |
| Binance | Comprehensive trading | Yes | Yes |
| MEXC | Altcoin trading | No | No |
| Upbit | Beginners | Yes | Yes |
| Bitunix | Anonymity | No | No |
Regulatory Landscape in South Korea
- Legal Status: Cryptocurrencies are legal under the Special Financial Transactions Information Act.
- Taxation: 20% on gains >2.5M KRW (effective 2025).
- ICO Ban: Initial coin offerings remain prohibited since 2017.
How to Buy Crypto in South Korea
- Select an exchange (e.g., Bybit or Upbit for KRW support).
- Complete KYC with ID and proof of address.
- Deposit KRW via bank transfer or credit card.
- Trade spot or futures markets.
FAQ
Q: Which exchange has the lowest fees?
A: MEXC offers 0% maker fees, the most competitive in South Korea.
Q: Is leverage trading available?
A: Yes, Bybit (100x) and MEXC (300x) offer high leverage.
Q: Are non-KYC exchanges safe?
A: Bitunix and MEXC allow trading without KYC but carry higher risks.
Final Recommendation
For balanced features and local compliance, Bybit and Upbit are the top choices. Global traders may prefer Binance for its extensive asset selection.
👉 Start trading on Bybit today
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