How to buy Bitcoin on Upbit in just 1 minute
As Bitcoin prices soar to unprecedented heights, many people seem to be taking a greater interest in Bitcoin. We’ll explain how to buy Bitcoin on Upbit, Korea’s leading digital asset exchange. Buying Bitcoin may seem complicated, but by following each step, even beginners can do it easily.
Upbit
Just as we use numerous brokerage firms when investing in stocks, Upbit is one of the platforms for trading digital assets like Bitcoin.
I’m sharing how to buy Bitcoin on Upbit because I believe it’s best to convey my own experience. While it can be used on both PC and mobile, the mobile version is definitely more convenient. The link
below takes you to the Upbit homepage. You can download the Upbit app (from the App Store or Google Play) at the bottom of the main screen.
How to Buy Bitcoin on Upbit: Step-by-Step Guide
1) Opening a K Bank account
When you buy stocks, don’t you typically deposit money into your securities account and purchase the desired stock? The bank account required
to deposit funds into Upbit is K Bank. To purchase digital assets (such as Bitcoin) on Upbit, opening a K Bank account is absolutely necessary.
Those wishing to download the K Bank app can easily do so via the download link below.
2) Deposit from K Bank to Upbit
To purchase Bitcoin on Upbit, we need to deposit Korean won. When making your first deposit, Upbit will require verification of your deposit/withdrawal account. You can use your K Bank account for this purpose.
The process for depositing funds from K Bank to Upbit is explained in detail in the post below, so you may find it helpful to refer to it.
3) How to Buy Bitcoin on Upbit
Once you deposit funds through K Bank, buying Bitcoin is very easy. Anyone who has invested in stocks will understand immediately.
In the Upbit deposit/withdrawal menu, you’ll see 5,002 won displayed under the KRW section. I deposited 5,000 won because the minimum purchase amount for Bitcoin is 5,000 won.
Then, when you enter the Upbit exchange menu, you’ll see various types of digital assets displayed as shown in the center image. Since we’re buying Bitcoin, click on Bitcoin.
Next, just enter the amount like you would when buying a stock and press the buy button.
Go to the Upbit investment history menu to view information about the Bitcoin you purchased. Currently, 1 Bitcoin is priced at approximately 146 million won. I bought 5,000 won worth, so I now hold 0.00003426 Bitcoin.
Conclusion
Today, we discussed how to buy Bitcoin on Upbit. Let’s review the steps once more.
Depositing into K Bank is the same as depositing into any other bank. In the U.S., not only has Bitcoin been incorporated into stock market ETFs, but President Trump has also been very supportive of Bitcoin.
Given this, interest in Bitcoin is gradually increasing. With that in mind, I wrote this post to explain a little bit about how to buy Bitcoin. Thank you for reading.
