Hanbitco Crypto Exchange Review: It Is Good Or Bad?

About Hanbitco

Launched in 2018, Hanbitco describes itself as a regulation ready Korean exchange based in Seoul. It has reportedly received ISO/IEC 27001 certification in 2018, ISMS Certification from the Korean Government Institutions in 2019 and is ranked 1st in Korea and 20th globally by CER.live for cybersecurity.

The exchange is a founding member exchange of the Korea Blockchain Association (KBA), having served as vice chairman in 2018. In 2018 and 2019, Hanbitco Crypto Exchange successive CEOs were elected chairman of the KBA Exchange Committee, which provides inputs on self-regulatory requirements for exchanges in Korea.

In 2018, it founded the ChainAction social movement. The movement aims to accelerate and unite blockchain projects to address 17 UN Sustainable Development Goals and drive mass crypto adoption.

Hanbitco Exchange Basic Points

How To Start ?

How To Sign Up At Hanbitco Crypto Exchange ?

It Is Very Easy To Sign Up At Hanbitco Exchange . Just Click On Sign Up Button At Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.

How To Deposit Fund At Hanbitco Exchange ?

Once your account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit and then you will be provided with the Wallet details that you need to transfer the funds to .

How To Trade At Exchange ?

Once your account is funded, you can then begin day trading at Valr. Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade.

How To Withdraw At Hanbitco Exchange ?

Withdrawing your funds from Swipe is very easy. Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses.

Hanbitco Trading fees

Hanbitco Crypto Exchange has a flat fee and its amount is 0.10%. 0.10% is substantially below the historical global industry average, being 0.25%. However, we are currently seeing a shift towards lower trading fees in the industry (0.10%-0.15%). Regardless of whether you compare the trading fees with the historical or more current trading fee averages, the fees charged by this exchange are at least not above industry average.

Hanbitco Withdrawal fees

This trading platform charges a withdrawal fee amounting to 0.00049 BTC when you withdraw BTC. Possibly the 0.00001 BTC difference from 0.0005 BTC is just a minor statement against a lot of exchanges out there that charge 0.0005 BTC. A “we see you”-message.

In any event, 0.00049 BTC is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. This exchange’s withdrawal fees are thus roughly 40% lower than industry average. All in all, the fees at Hanbitco are competitive.

Deposit Methods

This exchange does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.

US-investors

To the understanding, Hanbitco is also open to US-investors. At least there are not any specific prohibited jurisdictions listed in the exchange’s terms and conditions or user agreements. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.