Bitaigen Research Korbit is South Korea’s largest Bitcoin trading platform, offering spot and fiat‑currency trading along with a Bitcoin wallet and payment services; as of September 2021, its 24‑hour trading volume was roughly USD 20.5 million, supporting 53 cryptocurrencies and their corresponding trading pairs.
In this article we systematically outline Korbit’s business layout, technical security and compliance strengths, and analyze its competitive position in the Korean crypto market, helping readers quickly grasp the platform’s core value and user experience. Subsequent sections will dive deeper into the details.
What kind of exchange is Korbit?
Korbit is the largest Bitcoin‑focused international platform in South Korea. In addition to spot and fiat‑currency trading, it provides a Korbit Pay service that includes a Bitcoin wallet and merchant payment solutions. The platform currently hosts about 25 000 users, with roughly 400 merchants using Korbit Pay. As one of the two Korean Bitcoin sites backed by venture capital, Korbit commands a substantial share of the domestic cryptocurrency market, ranking among the top in both daily trading volume and order count.
- Korbit was the first virtual‑currency exchange established in South Korea and the first to obtain ISO 27001 certification for its crypto‑trading system, delivering industry‑leading security guarantees.
- In August 2014 the company closed a Series A round, raising USD 3 million led by SoftBank Korea Ventures and Pantera Capital, with participation from BAM Ventures, Bitcoin Opportunity Corp, and Tim Draper among others.
Is the Korbit exchange safe?
Korbit employs multiple layers of protection to enhance the safety of user assets:
- Multi‑Factor Authentication (MFA) – Google OTP combined with a mobile SMS code.
- Login‑password attempt limits to deter brute‑force attacks.
- Over 80 % of user funds are stored in offline cold‑storage vaults.
- Partnership with U.S. asset‑security firm BitGo, utilizing Multisig technology that requires electronic signatures.
- Site‑wide SSL (HTTPS) encrypted transmission.
- 24‑hour security monitoring that continuously scans for account‑level risks.
Installation guide for the required security solution (TouchEn)
- Starting at 13:00 UTC on 31 October 2019, accessing the Korbit website will automatically redirect you to the Raon Secure installation page.
- Follow the instructions for the two programs listed below to complete the installation.
If you encounter errors during installation or need further assistance, consult the FAQ or contact the Raon Secure call centre.
- Should a prompt appear after the installation finishes, force‑refresh the page and try again.
Forced‑refresh shortcut keys
- Windows: `Ctrl + Shift + R`
- macOS: `Command + Shift + R`
The above constitutes the complete introduction to “What kind of exchange is Korbit?”. For more Korbit‑related news, please follow other articles on Bitaigen (比特根).
*Note: Cryptocurrency gains may be subject to tax in your local jurisdiction; users should consult a qualified tax professional.*
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