How to Use Upbit: Sign-Up, Deposits, Buying, and Withdrawals for Beginners

Upbit is one of South Korea's most widely used cryptocurrency exchanges. This guide walks beginners through the essential steps from registration to withdrawal.

Registration, bank linking, deposits, trading, and withdrawals can feel overwhelming at first. The process becomes manageable once you understand its sequence. Follow the steps below and check the important details at each stage. This article provides information and does not recommend an investment or promise returns.

1. Registration and Bank Account Verification

Upbit supports KRW trading through linked Kbank accounts. You need a mobile phone and a deposit-and-withdrawal bank account in your own name.

Registration Steps

• Register through the app or website using a social account such as Kakao or Apple.
• Complete mobile identity verification.
• Open a Kbank account or connect an existing one.
• Photograph your ID and complete facial verification as part of Know Your Customer (KYC) checks.

Exchanges require real-name checks under anti-money-laundering rules. Another person's account or information cannot be used for verification, so use your own details. Once verified, you can deposit KRW.

2. Depositing Korean Won (KRW)

After verification, fund your trading balance from the linked Kbank account.

• Choose KRW in the Deposits and Withdrawals menu.
• Enter the amount and transfer from Kbank.
• A withdrawal restriction may apply for a time after the first deposit to prevent voice phishing and other fraud.

Once the KRW appears in your balance, you are ready to buy. See how to buy Bitcoin for more detail.

3. Buying and Selling Coins

Search for the desired coin on the trading screen and place a buy or sell order. There are two main order types.

Limit and Market Orders

• Limit order: You specify the desired price, and the order executes when that price is reached. You control the price, but execution is not guaranteed.
• Market order: The order executes immediately at available quotes. It is quick, but the actual price can differ from expectations.

Enter a quantity or amount to buy; selling follows the same process with your holdings. Build a habit of checking the order book and chart together. The order-book basics guide explains how to read quotes.

4. Withdrawing

There are two types of withdrawal:

• KRW withdrawal: Transfer the KRW balance to your linked Kbank account.
• Coin withdrawal: Send holdings to an external wallet or another exchange address.

For coin withdrawals, verify the exact network and address. A wrong address or mismatched network can permanently lose assets, and the exchange cannot recover them. Consult the crypto wallet guide for managing an external wallet.

5. Understanding Fees

Trading creates costs. Understanding them beforehand reduces surprises.

• Trading fee: A percentage of the executed amount is charged on buys and sells. Rates can vary by market and promotion.
• Coin withdrawal fee: Fees differ by coin and network; even the same coin can cost different amounts across networks.
• KRW deposits and withdrawals generally have no separate fee, but policies can change. Check the amount displayed before withdrawing.

6. Security Settings Are Essential

Your exchange account controls your assets, so prioritize its security.

• Enable two-factor authentication (OTP). A password alone is insufficient.
• Use a withdrawal address whitelist to register destinations in advance.
• Choose a strong password different from those on other sites, and watch for phishing sites and fake apps.
• Upbit staff do not ask for your password or OTP. Such requests are scams.

Recap

The sequence is registration and bank verification → KRW deposit → buying and selling → withdrawal. Keep fees and security in mind throughout. Start with small amounts to practice trading and withdrawals and become familiar with the interface.

Notice: Crypto prices can fluctuate sharply and principal can be lost. This is a usage guide, not investment advice or a profit guarantee. All investment decisions and responsibilities are your own.