SimpleSwap vs Upbit

SimpleSwap4.1/5

VS

Upbit3.1/5

Feature	SimpleSwapVisit	UpbitVisit
Ratings
Our score	4.1/5	3.1/5
User rating	No reviews yet	No reviews yet
Fees	3.0	3.0
Security & trust	4.0	2.5
Asset selection	5.0	4.0
Ease of use	4.5	3.5
Support	4.0	3.0
Specs
Markets	Spot	Spot
Coins listed	2,800	350
Fiat deposit methods	Card	Not disclosed
KYC required	No	Not disclosed
Mobile app	Yes	Yes
Licenses & registrations	Not disclosed	Virtual Asset Service Provider registration, South Korea
Security features	Non-custodial architecture, Direct wallet settlements	Emergency withdrawal suspension, Internal wallet audits
Futures & perpetuals	No	Not disclosed
Copy trading	No	Not disclosed
P2P market	No	Not disclosed
Referral program	Yes	Not disclosed
Company
Founded	2018	2017
Headquarters	—	South Korea
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates	About 350 coins and 514 trading pairs KRW markets for South Korean traders Licensed as a South Korean VASP in September 2021 iOS and Android apps available
Cons	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification	Custodial exchange exposure to Dunamu and its wallet infrastructure KYC is required for account access Approximately $48.5 million in Ethereum was stolen in 2019 A wallet vulnerability and unauthorized withdrawals were disclosed in November 2025
Best for	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances	South Korean spot traders, KRW cryptocurrency markets, Mobile exchange users

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.

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