Review on Korbit by Killer Bean
Korean exchange- Korbit
A south Korean exchange launched in 2014, Korbit is one of the largest cryptocurrency exchanges in Korea and with its time as an exchange, I can conveniently say that it is an exchange of experiences. This exchange can be accessed through the website with the help of a chrome browser. It is so saddening that the mobile application doesn't work on every Android device. The web version has an easy to use interface and a very enticing design. Korbit allows for deposits via credit cards and wired transfers but not cryptocurrencies. The fees charged on this platform isn't expensive neither is it cheap but very affordable. Being one of the first exchanges in Korea to allow purchasing of cryptocurrencies with fiat tokens (Korean Won). The mobile app like I said doesnt work on every Android devices. When I got mine from playstore, it kept telling me that the application should be closed and reopened, after I while I got tired of the app and deleted it. The exchange which was meant to be in English and Korean was mainly in Korean making it hard for me to understand the content of the platform, very painful that a nice exchange like this doesn't have enough features to impress their foreign customers. Hence, this exchange is still a local exchange and should work towards trading at international level. The support team isn't even helping, most of the times they give a totally different answer to my questions, this exchange needs a lot of improvements.
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Pros
- It has quite a number of users
- It allows for deposits via credit cards
- It allows for two-factor authentication to further strengthen its security
- The exchange comes in English Language and Korean
- It is a web based platform
Cons
- The fact that it is web based makes it susceptible to phishing
- It doesnt have its own native token
