UPbit open beta launched by Bittrex

South Korean fintech firm Dunamu launches its cryptocurrency exchange Upbit
27 October 2017   6404

Back to September

It has been reported that South Korean Internet company Kakao in partnership with the popular American crypto exchange Bittrex was going to launch a new trading platform, UPbit, in October.

The registration has been available on the website of the new exchange since its announcemet. At the moment of writing, there was no much info on the website except the release date of the app (October). The Korean exchange was to use the technologies developed by Bittrex. The companies were going to use the technology of Bittrex, likely rebranding their platform for Korean users, which means there will be 200 cryptocurrencies and assets available.

UPbit beta launched, October

Now, a South Korean fintech firm Dunamu, subsidiary of Kakao Inc.,launches Upbit in beta. Dunamu has started offering an open beta service for Upbit from October 24, 2017.

The platform supports markets that can be traded with Korean Won (KRW), Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). In order to launch the exchange, Dunamu has signed an exclusive partnership agreement with the leading cryptocurrency exchange Bittrex. The BTC market, ETH market and USDT market will be offered through Bittrex.

With the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services but also have addressed problems such as inconveniences of existing Altcoin investment, time delays and complicated account management. Starting with the open beta service, we are planning to provide services that are optimized to domestic trading conditions.

Song Chi-hyung
Dunamu Chief Executive

On top of that, Dunamu focused on improving dafety by adopting Bitgo’s double wallets for added wallet security and consulting Theori, a four-time winner of DEF CON hacking finals, for security as well.

During the open beta service period, users will be able to access all the functions of Upbit through desktop, Android, and iOS platforms.

Bittrex to Delist 82 Markets

Bittrex announced that it will remove 82 markets from the platform on March 30, 2018
17 March 2018   231

Bittrex is a U.S. blockchain platform providing real-time trading and security. Bittrex aims to have such features as secure platform, custom built trading engine, fast deposits and withdrawals, complete and easy REST API. 

On March 9 Bittrex has already removed several markets from the platform. Later, Bittrex has  made an announcement that it will remove 82 tokens from its trading platform on March 30, 2018.

Once these wallets are removed, we will no longer be able to recover these coins. Users must withdraw their coins before March 30, 2018, in order to keep them. The coins marked with an asterisk (*) have broken blockchains or wallets that will not allow withdrawals. In those cases, the inability to withdraw your balance is not due to the Bittrex Exchange platform, but is caused by a problem with the underlying blockchain or wallet associated with that coin.

Bittrex Statement

The exchange reported that such actions are taken to ensure customers have access to digital tokens that meet the strict coin listing criteria and have a properly functioning blockchain and wallet.

Bittrex delisting marketsBittrex delisting markets

At the time of press, the market capitalization of Bittrex is $137 479 541, and the most popular coins trading on the platform are Bitcoin, NEM, Cardano, Ethereum and Ripple.