Upbit Deposit Fee Revised to 2.1%

IconCryptoNewsTerminal Staff19 Jul, 2024

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Upbit Deposit Fee Revised to 2.1%

Upbit, a leading cryptocurrency exchange in South Korea, has announced a revision to its deposit fee rate. According to a recent notice on its official website, the exchange will now charge a deposit fee of 2.1% (before tax). This change comes after Upbit previously announced on July 19 that it would pay an annual deposit interest (deposit fee) of 1.3% on member deposits. However, this offer has now been discontinued, and the exchange has reverted to its previous deposit fee structure. The revised fee rate of 2.1% will apply to all cryptocurrencies deposited into Upbit accounts. The exchange has not provided a specific reason for this change, but it is likely due to market conditions and the need to maintain a sustainable business model. It is important to note that this fee change may impact the trading strategies of some Upbit users. Traders who frequently deposit and withdraw funds from the exchange may want to consider adjusting their approach to minimize the impact of the fees.

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