UPcoin

UPcoin Review

UPcoin is a really new altcoin exchange that was launched in February 2018. It currently deals in crypto-to-crypto trading but plans to incorporate fiat currency in the future. There are some concerns over the exchange as they have withholds information on who owns the exchange and also where the exchange is registered. It should also be noted that the domain name formerly ran a multi-level marketing scheme. The first 20,000 members to join UPcoin also received a signing up bonus of $500.

The trading pairs is limited when compared with other exchanges. There are currently less than 100 pairs. Cryptocurrencies can be traded against BTC, ETH, and LTC. Most exchanges offer trading against BTC and ETH but not LTC. For all trading pairs, a maker fee of 0.1% is changed and a taker fee of 0.2% is charged. There are no fees for deposits but there are small fees for withdrawals. UPcoin has their own coin which results in a 50% discount in trading fees when traders utilise.

UPcoin has secured their site with HTTPS encryption and users can also add two-factor authentication for an extra layer of security. There doesn't appear to be any restrictions on who can join the exchange. With the concerns over the owners and previous domain of the exchange, it represents a risk for traders and investors to use this exchange. Apart from these concerns, the exchange appears to operate effectively but with many exchanges offering the same service it is safer for investors to use these.
UPcoin WAS SHUT DOWN IN 2020!