Anyone using Korean exchanges?

[manul888]

Is there anyone using a Korean exchange? If yes, I want to know why. I am wondering if it is because there is a Korean project that particularly interested in or is it to leverage the kimchi premium generated on Korean exchanges. kimchi premium is the gap in crypto prices in Korean exchanges compared to other global exchanges as high as 6~7%. For example, Bitcoin might be listed at a 7% higher price on the Korean exchange.

[dihari]

Korean exchanges are very difficult for non-Korean citizens to use, so most people only use global exchanges because it makes it easier for all users to trade and also follow other programs on certain exchanges.

Some Korean exchanges already being international to accept global users. Huobi & probit both Korean exchange are accepting global users with easy registration. Even in probit you don't need kyc to deposit, trade & withdraw funds.
Maybe you should elaborate what difficulties you experienced when using a Korean exchange.

[akar87]

Is there anyone using a Korean exchange? If yes, I want to know why. I am wondering if it is because there is a Korean project that particularly interested in or is it to leverage the kimchi premium generated on Korean exchanges. kimchi premium is the gap in crypto prices in Korean exchanges compared to other global exchanges as high as 6~7%. For example, Bitcoin might be listed at a 7% higher price on the Korean exchange.

Coinone is only available to trade and investing by Korean only and you can't trade or sell coin there, you need to pass KYC by using Korean data but if you use exchange for arbitrage your account will be frozen. I have try it when get Korean document from my friend and try to make arbitrage all my assets frozen and now I can't use again.

[MCcryptonia]

Korean exchanges are very difficult for non-Korean citizens to use, so most people only use global exchanges because it makes it easier for all users to trade and also follow other programs on certain exchanges.

Some Korean exchanges already being international to accept global users. Huobi & probit both Korean exchange are accepting global users with easy registration. Even in probit you don't need kyc to deposit, trade & withdraw funds.
Maybe you should elaborate what difficulties you experienced when using a Korean exchange.

Probit exchange is on another level entirely, I have a coin that's not available on probit eng exchange and it's only available on probit KR exchange, I don't know what this is happening, it shouldn't be like that and it sucks, the name of this coin is Storichain ( TORI )

[Insober]

I have never used such exchanges, I do not see any sense in the fact that they need to be used.

I am sure. that they are no better than the usual, popular exchanges, so the use of such exchanges seems to me just for us a common waste of time.

[dihari]

I have never used such exchanges, I do not see any sense in the fact that they need to be used.

I am sure. that they are no better than the usual, popular exchanges, so the use of such exchanges seems to me just for us a common waste of time.

Well if you participating in ico and after the icon the token will only be listed on an korean exchange, I am sure you'll start considering that they need to be used to trade the token you already bought on ico.
It happens anytime. When you don't get your token listed in major exchange, having account in such exchanges are sometimes useful.
you have to deal with the fact that not all the token you loves are being trade in popular exchanges.

[cryptomaniac_xxx]

Is there anyone using a Korean exchange? If yes, I want to know why. I am wondering if it is because there is a Korean project that particularly interested in or is it to leverage the kimchi premium generated on Korean exchanges. kimchi premium is the gap in crypto prices in Korean exchanges compared to other global exchanges as high as 6~7%. For example, Bitcoin might be listed at a 7% higher price on the Korean exchange.

Are you talking about arbitrage trading here? Naturally there will be a gap, but I doubt that you can exploit it as you have to be very quick, better to set up a bot to do such kind of trades. As far as Korean exchange though, yes there are a lot and some of them are reputable, but I'm not sure if you can create an account as they mostly require KYC, and they are very tough for non-Korean accounts.

[mlmdaily]

Im not sure that this is possible to pass kyc there and make arbitrages if you are non Korean citizen

[bryant.coleman]

Korean exchanges are very difficult for non-Korean citizens to use, so most people only use global exchanges because it makes it easier for all users to trade and also follow other programs on certain exchanges.

That is not the case. I have used 2-3 Korean exchanges to trade my bounty tokens to ETH and the process was really smooth. You need to undergo the KYC process, which is not very complicated (they may ask for the scanned copy of your passport or the national ID card). Once the KYC is done, you will not face any issues with trading (irrespective of your nationality). But I don't know whether anything has changed or not, as I last used them in 2019. 

[akar87]

Korean exchanges are very difficult for non-Korean citizens to use, so most people only use global exchanges because it makes it easier for all users to trade and also follow other programs on certain exchanges.

That is not the case. I have used 2-3 Korean exchanges to trade my bounty tokens to ETH and the process was really smooth. You need to undergo the KYC process, which is not very complicated (they may ask for the scanned copy of your passport or the national ID card). Once the KYC is done, you will not face any issues with trading (irrespective of your nationality). But I don't know whether anything has changed or not, as I last used them in 2019. 

Not simple like that and not available use your document except korean people to KYC, you can use your document but after upload still not worth to sell your coin on Korean Exchange. Only for Korean people can trade there because they have document Korean but if you have get document from your friend maybe you can be partner for the other to sell coin list on coinone.

[michellee]

Korean exchanges are very difficult for non-Korean citizens to use, so most people only use global exchanges because it makes it easier for all users to trade and also follow other programs on certain exchanges.

That is not the case. I have used 2-3 Korean exchanges to trade my bounty tokens to ETH and the process was really smooth. You need to undergo the KYC process, which is not very complicated (they may ask for the scanned copy of your passport or the national ID card). Once the KYC is done, you will not face any issues with trading (irrespective of your nationality). But I don't know whether anything has changed or not, as I last used them in 2019. 

Not simple like that and not available use your document except korean people to KYC, you can use your document but after upload still not worth to sell your coin on Korean Exchange. Only for Korean people can trade there because they have document Korean but if you have get document from your friend maybe you can be partner for the other to sell coin list on coinone.

I hear about my friend's story, which collaborates with his friend that stays in Korea. My friend sends the token to his friend using his account. And if the token can give them a profit, the profit will be split by both. They do that because some of the token or coin they got is not listed on the other exchange except on the Korean exchange, so they still do that and sometimes, they trade the profit to make more profit. I can say that is the best thing to do because the Korean exchange needs people who have document Korean.

[TheMimic1]

Every exchanges in different part of the world but make coins from different locations available in their global version of their exchange, Probit is using this to cheat investors right now, there is a token that's only available on probit korea and can't be found on probit global, and to even sell the token on probit korea you have to pass KYC which requires you to be a full korea citizen  why sell the tokens to other people in part of the world and they can't trade on global exchange?

[leea-1334]

I am no longer a user but I do not mind to share my old experiences that in fact Bithumb was one of my first major exchanges used that was a big volume one and with big orderbook,,, I had no issues at the time and every withdrawal was processed but this was all before the accusations of fake volume happened there.

[Zeque02]

Is there anyone using a Korean exchange? If yes, I want to know why. I am wondering if it is because there is a Korean project that particularly interested in or is it to leverage the kimchi premium generated on Korean exchanges. kimchi premium is the gap in crypto prices in Korean exchanges compared to other global exchanges as high as 6~7%. For example, Bitcoin might be listed at a 7% higher price on the Korean exchange.

As far as I know there are some trading sites or exchange sites that are korean developer but since it's a worldwide it can be translated to english. Also, they need to update the price every now and then since the bitcoin is so popular crypto currency or there is a link system that the value is changeable unlike for some coins which is not popular though it can some slight differences on their prices.

[akar87]

Korean exchange not accepted trader or investor coming from not Korean or we can called Korean exchange only for Korean people, if you want trade or sell coin there you must have friend in Korean, never try to trade or sell coin there because not available if you not use Korean document to submit kyc and verify with korean mobile phone number.