Coinbit Trading Volume Analyzer
Key Takeaways
- Coinbit, a South Korean exchange launched in 2018, suffers from chronic liquidity problems.
- Trading volume peaked at $313million daily in March2020 and fell to under $100 by the end of 2021.
- Security is decent, but limited pair selection and high slippage hurt traders.
- Compared with Binance, Kraken and Coinsbit, Coinbit lags in depth, community, and market‑making.
- Without a major strategic overhaul, long‑term sustainability looks doubtful.
If you’ve typed “Coinbit crypto exchange review” into a search box, you probably want to know whether the platform is worth your time or money. In the next few minutes we’ll walk through the exchange’s backstory, its current health, and how it measures up against the big players you might already be using. No fluff-just the facts you need to decide if you should open an account.
When talking about South Korean crypto platforms, Coinbit is a cryptocurrency exchange operated by Axia Inc. out of Seoul. The company launched in July2018 under CEO HyunBaek Park and offers Korean, Japanese, Chinese and English interfaces.
History and Ownership
Coinbit emerged during a boom in South Korean digital‑asset trading. Axia Inc. positioned the exchange around four promises: security, convenience, speed, and an “exciting” trading experience. Early marketing material highlighted a sleek UI and rapid order execution, aiming to attract retail traders hungry for altcoins.
The platform’s timeline can be summed up in three phases:
- Launch (2018‑2019): modest daily volume around $1.8million; limited liquidity but a growing user base.
- Surge (2020): a dramatic spike to $313million in 24‑hour volume on March212020, driven by market hype and a brief influx of Korean traders.
- Collapse (2021‑2025): volume slumped to under $86 by December2021 and has hovered in the double‑digit range ever since.
This roller‑coaster suggests that coin‑bit’s growth was not backed by sustainable market‑making, making it vulnerable to sudden sell‑offs.
Liquidity and Trading Volume
Liquidity is the lifeblood of any exchange. Without enough buyers and sellers, orders slip, spreads widen, and traders lose money before a trade even fills. Coinbit’s publicly available volume data tells a stark story.
| Date | Volume | Notes |
|---|---|---|
| April22019 | $1.8million | Early adoption period |
| March212020 | $313million | Peak - 17,300% increase |
| December22021 | $85.89 | Liquidity crisis |
| Oct2025 (latest) | ≈ $120 | Stagnant, minimal order book |
Even if you ignore the outlier spike, daily volume under $2million is low for a market that serves a country with one of the world’s highest crypto retail participation rates. The drop means users face high slippage-buying a coin at $10 may actually fill at $10.30 or more because the order book is thin.
Security, Features, and User Experience
Security-wise, Coinbit employs standard industry measures: two‑factor authentication, SSL encryption, and cold‑wallet storage for the majority of assets. No major hacks have been reported, which matches the claim that the exchange is “secure.” However, security alone doesn’t attract traders if the platform can’t execute orders efficiently.
Feature set includes:
- Spot trading for a limited set of major pairs (BTC, ETH, KRW‑denominated altcoins).
- Basic charting tools; no advanced order types (no stop‑limit, OCO, etc.).
- Mobile app (separate from the CoinBit tracking app) that mirrors the web UI.
- English & Korean language support; Japanese and Chinese added later.
The lack of advanced trading options and low pair count makes the platform feel “bare‑bones” compared with rivals that offer futures, margin, staking, and DeFi integrations.
How Coinbit Stacks Up Against the Competition
To see where Coinbit really stands, let’s line it up with three well‑known exchanges: Binance, Kraken, and the unrelated Coinsbit platform (often confused with Coinbit).
| Feature | Coinbit | Binance | Kraken | Coinsbit |
|---|---|---|---|---|
| Daily Volume (USD) | ≈ $120 | $35billion | $1.2billion | $150million |
| Number of Trading Pairs | ~30 | ~1,200 | ~250 | ~600 |
| Advanced Orders (stop‑limit, OCO) | No | Yes | Yes | Yes |
| Staking / IEO | No | Yes | Yes | Yes |
| Regulatory Compliance (KYC/AML) | Basic | Comprehensive | Comprehensive | Basic |
| Community Presence (Reddit, Trustpilot) | Very low | High | High | Low‑Medium |
The numbers speak for themselves: Coinbit’s volume and pair count are an order of magnitude smaller than even the “low‑end” competitor Coinsbit. Binance dominates with deep liquidity, while Kraken offers strong compliance for institutional traders. If you value a vibrant community and robust tools, Coinbit simply doesn’t measure up.
User Feedback and Community Signals
One way to gauge an exchange’s health is by looking at user reviews. Searches on Reddit, Trustpilot, and major crypto forums return almost no discussion about Coinbit. The silence suggests either a tiny user base or a community that prefers not to talk about the platform-both red flags.
By contrast, Binance and Kraken each host thousands of threads, ranging from troubleshooting to advanced strategy sharing. This active dialogue creates a feedback loop that helps those exchanges improve security, add features, and address bugs quickly.
Regulatory Landscape in South Korea
South Korea’s crypto regulations are among the world’s strictest: exchanges must register with the Financial Services Commission, enforce real‑name verification, and adhere to robust AML policies. Axia Inc. has complied enough to operate, but the market‑share data shows that larger, regulated players like Upbit and Bithumb dominate the Korean scene.
The regulatory pressure also means that any exchange with weak liquidity can become a target for enforcement if it cannot demonstrate adequate market‑making or consumer protection. At present, there are no public penalties against Coinbit, but the lack of growth under regulatory scrutiny hints at limited appetite from both users and regulators.
Future Outlook and Strategic Options
What could turn Coinbit’s fortunes around? Analysts from Cryptowisser note three potential paths:
- Strategic partnership: Align with a larger exchange for shared liquidity pools.
- Feature expansion: Add staking, futures, and a robust API to attract traders.
- Geographic focus: Double down on a niche market (e.g., Korean indie projects) where competition is lower.
Each option requires significant capital and a clear roadmap. Without such moves, the exchange risks becoming a “ghost” platform-still online but rarely used.
Bottom Line for Readers
If you’re hunting for a place to trade major cryptocurrencies with deep order books, low fees, and solid community support, Coinbit is not the answer. Its liquidity is thin, its feature set basic, and its user base practically invisible. For Korean traders who need a local interface and are willing to accept higher slippage, it could serve as a backup, but even there the risks outweigh the benefits.
For most investors, sticking with Binance, Kraken, or a well‑established regional player like Upbit will deliver a smoother, safer experience. Keep an eye on any announcements from Axia Inc.-a major partnership could change the equation, but until then, treat Coinbit with caution.
Frequently Asked Questions
Is Coinbit safe to use?
Coinbit employs standard security measures like 2FA and cold‑wallet storage, and there have been no major hacks reported. However, safety also depends on liquidity and market‑making; thin order books mean you could face high slippage or incomplete fills, which is a form of risk.
How does Coinbit’s trading fee compare to Binance?
Coinbit charges a flat 0.25% maker/taker fee on most pairs, which is slightly higher than Binance’s 0.10%‑0.15% tiered fee structure for equivalent volume levels. The fee difference is modest, but the real cost comes from slippage on low‑liquidity trades.
Can I trade fiat on Coinbit?
Coinbit primarily offers KRW‑based pairs for Korean users. It does not provide a broad range of fiat gateways like USD, EUR, or GBP that you find on Binance or Coinbase.
What is the biggest drawback of using Coinbit?
The lack of liquidity is the most critical issue. Thin order books lead to high slippage, price manipulation risk, and delayed order execution, making it unsuitable for sizable trades.
Is Coinbit regulated in South Korea?
Yes, Axia Inc. has registered the exchange with the Financial Services Commission and complies with basic KYC/AML requirements. The regulatory framework, however, is stricter than in many other jurisdictions, and compliance adds operational overhead.
Author
Ronan Caverly
I'm a blockchain analyst and market strategist bridging crypto and equities. I research protocols, decode tokenomics, and track exchange flows to spot risk and opportunity. I invest privately and advise fintech teams on go-to-market and compliance-aware growth. I also publish weekly insights to help retail and funds navigate digital asset cycles.