Korbit is a South Korean-based crypto exchanges platform and is the first and largest in the country. You can expect a lot from this platform, as it boosts itself of a cutting-edge technology that will make trading easy.
How trading at Korbit works
Before you start trading in Korbit, you need to have an account. Signing up is easy, and the best part about it is that it will only take 10 minutes for the platform to verify your account. You will have access to your account after verifying it. Other than the Korean won and Bitcoin, it also accepts Ethereum and Ethereum Classic, and recently, Ripple. You can expect more currencies in this platform in the future.
There are two types of trader fees in this crypto exchange: the Maker fee and the Trader fee. The Maker fee has a lower rate that starts at 0.10% while the Taker fee starts at 0.20%. You can deposit at Korbit without paying any fees, while withdrawal requires you to pay depending on the type of currency that you are going to use.
You pay 1,000 for Korean won while there are two modes of payment for Bitcoin: normal (0.001 BTC) and saver (0.0005 BTC). For Ethereum and Ethereum Classic, the fees are 0.01 ETH and 0.005 ETC, respectively. This exchange does not limit you when it comes to depositing, while withdrawal limits depend on the currency that you are going to use and your account level. You can check out their website to see more about this and other necessary info.
Moreover, this exchange uses a Multisig Wallet for currency storage. You are required at least two of the three keys in order for you to store bitcoins: two for the crypto exchange company and one for BitGo. Korbit keeps two keys: one online and one offline so that hackers will not have access to your account. BitGo, on the other hand, is a US-based Bitcoin security company that introduced this type of wallet to the world.
Korbit offers convenience to cryptocurrency users
You will feel secure and safe the moment you decide to check out Korbit. It is easy to navigate in its website and all the info that you need to know about this is accessible. If this is your first time to do cryptocurrency trading, you will have a seamless experience from the moment you sign up all the way to the moment you complete your transaction.
You will feel the transparency that it offers to people, as it shows you all the charts and data that you need to know about the company and about the industry. The website includes screenshots of things that you need to know. For example, there are screenshot on how to create an account, which will helpful to you especially if this is your first time in cryptocurrency exchange.