South Korea is home to some of the most trusted and highly regulated crypto exchanges in the world. Among them, Coinone and Upbit stand out as the top two platforms. Both exchanges follow strict compliance rules, offer strong security, and provide smooth trading experiences—but their business models are very different.

In this blog, we will compare Coinone vs Upbit in terms of features, liquidity, UI/UX, trading products, and overall business structure so that entrepreneurs and startups can decide which model to follow when building a new exchange.

If you want to launch a complete crypto exchange similar to Coinone or Upbit, explore our Whitelabel Crypto Exchange Software.

Overview – What Makes Each Exchange Unique?

Coinone

Coinone focuses heavily on security, banking compliance, and risk control.
It appeals to users who prefer a safe, regulated trading environment with fewer speculative products.

Upbit

Upbit is designed as a high-volume, high-liquidity exchange, offering more trading pairs, larger markets, and advanced tools.
It is Korea’s largest exchange by daily trading volume.

Both are good—but they serve different types of traders.

Feature Comparison (Side-by-Side)

Security – Who Wins?

Coinone Strength: Banking-Level Security

Coinone is known for:

• Cold wallet storage
• Strict KYC
• Rigorous withdrawal verification
• High-risk protection

Coinone’s model is ideal for startups wanting a maximum-security exchange.

Upbit Strength: Industrial-Grade Infrastructure

Upbit’s security is backed by:

• Dunamu (Kakao subsidiary)
• Partnership with Bittrex
• Trusted financial-grade servers

Winner: Coinone (for stronger compliance), Upbit (for infrastructure).
Both are excellent depending on your business goals.

Liquidity & Trading Volume

Upbit dominates the Korean market with one of the highest trading volumes in Asia.

Upbit Strengths:

• Deep order books
• Large number of trading pairs
• Fast order execution

Coinone has steady volume, but not as large as Upbit.

Winner: Upbit
If you’re building an exchange focused on active traders and high liquidity, Upbit’s model is superior.

User Interface & Experience

Coinone UI (Beginner-Friendly)

• Clean layout
• Easy navigation
• Simple workflow for deposits & withdrawals
• Less overwhelming for new users

Upbit UI (Professional Trading Feel)

• Advanced charts
• Multiple market views
• Rich trading tools
• Better suited for mid-level and professional traders

Winner: Depends on target audience

• Beginners → Coinone
• Experienced traders → Upbit

Staking & Earn Features

Upbit offers more financial products:

• Crypto savings
• Flexible staking
• Promotional staking
• Reward-based programs

Coinone has some staking options but fewer.

Winner: Upbit

Compliance & Regulation

Both exchanges are extremely compliant due to Korea’s strict financial rules.

Coinone:

• Higher KYC restrictions
• Slower approval but safer

Upbit:

• Fast onboarding
• Smooth KYC workflow

Winner: Both are strong—choose based on how strict you want your exchange to be.

Which Exchange Model is Better for Startups?

Choose Coinone Model if you want:

• Maximum compliance
• High security
• Simpler trading system
• Low-risk environment
• Trusted reputation model

Great for:

• Countries with strict crypto regulations
• Government-aligned exchanges
• Safe trading platforms

Choose Upbit Model if you want:

• High trading volume
• Large trading pairs
• Strong liquidity
• Advanced charting UI
• Fast order execution

Great for:

• Global trading exchanges
• Heavy spot trading platforms
• Multi-token exchanges

Final Verdict: Coinone or Upbit?

There is no absolute “winner.”
Both exchanges are excellent—but designed for different goals.

🔶 Coinone = Security + Compliance + Simplicity

Upbit = Liquidity + Advanced Trading + Growth

Your choice depends on the type of exchange you want to build.

If you want a balanced hybrid model, we offer a customizable solution that merges the strengths of both.

Explore our Whitelabel Crypto Exchange Software for a fully branded, feature-rich crypto exchange platform.