MEXC is known as one of the top cryptocurrency exchanges in the world. On the other hand, Upbit is a globally expanding virtual currency exchange that has acquired a large number of users and is a highly recognized exchange. So which one is better when actually choosing a virtual currency exchange?
Company profile of MEXC
MEXC is a cryptocurrency exchange currently based in Singapore. This exchange is said to be the top level in the world and has a large number of users. While the number of registered users is increasing, it is expected to continue to grow.
What is Upbit?
Upbit is a South Korean cryptocurrency exchange founded in 2017. We handle about 400 types of virtual currencies, so there are many altcoins. It is affiliated with Bittrex and offers many altcoins. It is said to be the most well-known cryptocurrency exchange in Korea.
Virtual currency exchange ranking
Coinmarketcap.com ranks MEXC as the 12th largest cryptocurrency exchange in the world in 2023. As you can see from this, you should be able to see that MEXC is quite famous in the world.
| 1 | Binance |
| 2 | Coinbase |
| 3 | Kraken |
| 4 | Kucoin |
| 5 | Bybit |
| 6 | BitFinex |
| 7 | OKX |
| 8 | Binance US |
| 9 | BitStamp |
| 10 | Gate.io |
| 11 | LBank |
| 12 | MEXC Global |
Source : Coinmarketmap
word of mouth, reputation
The following article summarizes the actual reviews and experiences of MEXC. You can see that there are a lot of users who give high evaluation mainly to MEXC. We recommend that you take a look at it when you actually open an account.
Distribution of registered users by country
The graph below is a quote from TradersUnion, a review site for Forex companies and virtual currency exchanges around the world. MEXC has a lot of Japanese people as the main. Other than that, it is known for having a large number of users in Asia, as well as a large number of users in North America.
Source : TradersUnion
Upbit practically only trades Koreans.
Source : TradersUnion
MEXC VS Upbit
| MEXC | Upbit | |
| Company | MEXC Exchange | Upbit, Ltd. |
| Headquarter | Singapore | South Korea |
| Established | 2016 | 2017 |
| Minimum Deposit | $1 | $1 |
| Number of Cryptocurrencies | 1500～ | 400～ |
| Max Leverage | 200 | – |
| Maker Fee | 0% | 0 |
| Taker Fee | 0.2% | 0.15% |
| Staking | 〇 | 〇 |
| Rending | 〇 | 〇 |
| Spot Trading | 〇 | 〇 |
| Future Trading | 〇 | × |
| P2P Trading | 〇 | × |
| Copy Trading | 〇 | × |
| NFT | 〇 | 〇 |
| DeFi Token | 〇 | × |
| Demo Trading | 〇 | × |
| Web Trading | 〇 | 〇 |
| Mobile Trading | 〇 | 〇 |
| Minimum transaction quantity | 0.0001BTC | 0.001BTC |
| Bonus Campaign | First Deposit Bonus First Futures Trading Bonus Future Leverage Challenge Listed Coin Airdrop Taker Fee Free Campaign Others… | × |
| Deposit Method | Crypto Credit Card Bank Transfer | Crypto Bank Transfer |
| Withdrawal Method | Crypto | Crypto |
transaction fee
MEXC is recommended for transaction fees. You can see that the maker’s fee is virtually free and it is quite profitable.
safety
MEXC has financial licenses in the US, Canada, Switzerland, and Estonia, so I feel very secure. There have been no cases where users have refused withdrawals before, so it can be said that there are no concerns. Upbit is unlicensed.
Brands handled
MEXC is clearly better for handling currencies. MEXC allows you to invest in unknown coins that you have never heard of, so you have a lot of options. MEXC allows you to invest in over 1500 stocks in total, which is the highest number of stocks in the world. Upbit has only 400 types.
bonuses and promotions
Bonuses and campaigns are clearly better at MEXC. Always-on, limited-time bonuses such as the first deposit bonus, the first futures trading bonus, and airdrops of listed coins are very abundant. There is no Upbit bonus for that.
Maximum leverage
The maximum leverage of MEXC is 200 times, which is quite high. Upbit, on the other hand, has no leveraged trading in the first place.
NFT
MEXC handles NFTs and it is possible to actually trade. Therefore, it is possible to trade from a wide variety of stocks. We also carry Upbit.
Open a free account
MEXC can open an account for free. The procedure is also very easy, so let’s open an account and actually start trading. I will introduce it in the following article, so I hope you can refer to it.
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