Korbit review
Korbit was the first bitcoin exchange in South Korea, founded in 2013, and it remains the smallest of the four majors. Its distinguishing feature is a maker schedule that bottoms out at nothing.
Access runs through the bank, as everywhere in Korea. Korbit's real-name partner is Shinhan Bank, one of the country's largest. If you hold a Shinhan account the path is short; if you do not, another exchange will be easier than switching banks.
It is registered with the Korea Financial Intelligence Unit as a Virtual Asset Service Provider. Fees are tiered by 30-day volume: takers pay 0.2 percent below 100 million won, falling as low as 0.01 percent, while makers start at 0.08 percent and can reach zero for high-volume traders. For a patient buyer posting limit orders, the maker side is the interesting part.
The cost of being smallest is thinner order books than Upbit or Bithumb, which matters more for size than for an ordinary monthly purchase. Korea's crypto capital gains tax remains postponed rather than repealed, so keep records regardless.
- Founded
- 2013
- Headquarters
- Seoul, South Korea
- Fees
- Tiered by 30-day volume: takers pay 0.2 percent below 100 million won and as little as 0.01 percent above; makers start at 0.08 percent and can reach zero.
- KYC
- Required
- Payment methods
- Local bank transfer
- Status
- Operating
How you can pay on Korbit
Every deposit rail Korbit supports in at least one market. Which of them you can use depends on your country; the country guides below list the exact methods per market.
- Domestic bank rail
- Local bank transfer
As published by Korbit: Real-name KRW bank account.
Pros and cons
What works
- Maker fees start at 0.08 percent and can reach zero at volume, the most generous maker schedule in Korea
- Partnered with Shinhan Bank, one of Korea's largest, so the required account is widely held
- Korea's first bitcoin exchange, running since 2013, and KoFIU-registered
What to watch
- The 0.2 percent entry taker fee is four to five times what Upbit and Bithumb charge on won markets
- The smallest of the four major Korean exchanges, so order books are thinner
- Requires a Shinhan real-name account specifically, which decides access before anything else does
Fees in detail
- maker
- From 0.08 percent, falling to zero at high 30-day volume
- taker
- 0.2 percent below 100 million won of 30-day volume, down to 0.01 percent above
- deposit note
- Won deposits require a real-name account at Shinhan Bank, the designated partner.
- withdrawal note
- Won returns to the linked Shinhan account; bitcoin withdrawals to self-custody are supported.
Where we recommend Korbit
Countries where Korbit ranks in our local guide. Availability beyond these is possible but unverified by us.
South KoreaFrequently asked questions
Which bank does Korbit require?
Shinhan Bank. Korean exchanges each pair with one bank for the mandatory real-name verification, and won deposits are not possible without an account at that bank.
How do Korbit's fees compare?
Mixed. The entry taker rate of 0.2 percent is well above Upbit and Bithumb, but makers start at 0.08 percent and fall to zero at volume, which is the most generous maker schedule among the Korean majors.
Is Korbit the oldest Korean exchange?
Yes. Founded in 2013, it was South Korea's first bitcoin exchange, and it is registered with the Korea Financial Intelligence Unit as a Virtual Asset Service Provider.