When you're looking for a crypto exchange in South Korea, Coinone is one of the top names that comes up. But if you're outside Korea - especially in the U.S. or Europe - you might be wondering: Coinone is worth your time? The short answer: it's excellent for Korean residents, but a dead end for most international users.
What Is Coinone, Really?
Coinone launched in 2014 and is one of South Korea’s oldest and most regulated crypto exchanges. It’s not some offshore platform with sketchy oversight. It’s certified under ISO/IEC 27001:2013 and regulated by South Korea’s Financial Services Commission (FSC). That means it follows strict rules on user verification, fund storage, and reporting. It’s also one of the few Korean exchanges that hasn’t suffered a major hack since its founding - a big deal in an industry where breaches are common.It supports over 250 cryptocurrencies, with Bitcoin, Ethereum, and Ripple being the most traded. All trading happens against the South Korean Won (KRW). There’s no USD, EUR, or GBP support. If you don’t have a Korean bank account or a valid Korean ID, you’re locked out of deposits and withdrawals.
Trading Experience: Simple for Beginners, Deep for Pros
Coinone gives you two interfaces: the basic version and Coinone Pro. The basic one is clean and easy - you pick a coin, enter how much you want to buy, and click. No charts, no order books, no confusing terminology. Perfect if you’re new to crypto.Coinone Pro is where things get serious. It has real-time candlestick charts, depth charts, multiple timeframes, volume indicators, and order types like limit, market, and stop-limit. It’s not as advanced as Binance or Bybit, but for a Korean exchange, it’s well-built. The interface loads fast, even during high volatility. I’ve tested it during the October 2025 Bitcoin dip - no lag, no crashes.
But here’s the catch: the entire Pro interface, including all tutorials and help docs, is in Korean. There are only 23 English resources available. If you don’t read Korean, you’re flying blind in advanced trading.
Fees: Higher Than the Competition, But Transparent
Coinone charges 0.2% per spot trade. That’s higher than Upbit’s 0.05% and Bithumb’s 0.1%. But here’s the twist: if you trade more than 100 million KRW ($75,000 USD) per month, your fees drop. Makers (those adding liquidity) can get as low as 0.0%, and takers (those removing liquidity) down to 0.02%. That’s standard for high-volume traders.Deposits? Free. Whether you’re sending BTC, ETH, or USDT, no fees. Withdrawals cost 1,000 KRW (about $0.75 USD) per transaction - fixed, no matter the coin. That’s cheaper than most global exchanges, which charge a percentage or vary by asset.
But remember: you can only withdraw in KRW or crypto. No direct bank transfers in other currencies. If you’re outside Korea, you’ll need to use a P2P service or third-party bridge to cash out - which adds risk and cost.
Security: One of the Best in Korea
Coinone’s security is its strongest selling point. 98% of user funds are stored in cold wallets. They use hardware security modules (HSMs) and regular penetration tests by former white-hat hackers. Their 2024 audit showed zero vulnerabilities in their core systems.You can enable two-factor authentication (2FA), biometric login (fingerprint or face ID), and even set withdrawal address whitelists. Every account requires full KYC: South Korean residents need a resident registration number. Foreigners need an Alien Registration Card. No exceptions.
Compare that to Bithumb, which had three major hacks between 2017 and 2018. Coinone has had zero. That’s not luck - it’s discipline. They also carry $127 million in insurance through Lloyd’s of London, updated as of September 2025. That’s more than most global exchanges.
Coinone Plus: Staking and DeFi That Actually Works
This is where Coinone stands out from its Korean rivals. Coinone Plus, launched in mid-2024, lets you stake directly on the platform without leaving the app. You get three options:- Node staking: For Cosmos (ATOM), offering 16.34% APR as of October 2025.
- Daily staking: For 15+ tokens like DOT, ADA, and SOL, averaging 5.2% APR. Withdraw anytime.
- Lock-up staking: Earn up to 12% APR if you lock your assets for 90 to 180 days.
Total Value Locked (TVL) in Coinone Plus hit $85 million USD by September 2025. That’s 17% of Coinone’s total revenue. It’s not just a side feature - it’s a core part of their business now. And unlike some exchanges that promise staking but delay payouts, Coinone pays daily. No delays. No surprises.
Why International Users Should Think Twice
Coinone doesn’t accept U.S. investors. Period. If you’re in the U.S., Canada, the UK, Australia, or most of Europe, you can’t deposit fiat. You can’t withdraw to your local bank. Even if you somehow get in, customer support won’t help you with non-Korean issues.TrustPilot reviews from international users are brutal. One user wrote: “I paid my taxes, but they still blocked my withdrawal. I don’t know why.” Another said: “Sent six emails. Two replies. None fixed my problem.”
Meanwhile, G2.com shows a 4.3/5 average rating - but almost all those reviews are from Koreans. The disconnect is stark. If you’re Korean, Coinone is reliable. If you’re not, you’re on your own.
Customer Support: A Tale of Two Experiences
Support is where Coinone shines and stumbles - depending on who you are.Korean users get 24/7 live chat with an average response time of 8 minutes. Phone support is available in Korean. Email responses take about 48 hours, but they’re usually helpful.
For everyone else? Forget it. Non-Korean users report waiting up to 72 hours for replies - if they get any at all. The support team doesn’t have English-speaking agents. There’s no chatbot that handles international queries. You’re stuck with automated replies in Korean.
And then there’s the trading halts. Coinone suspended trading 17 times in 2024 during extreme market moves. No warning. No explanation. Just “system maintenance.” That’s not uncommon in Korea - Upbit does it too - but it’s still frustrating if you’re trying to exit a position.
What’s Next for Coinone?
Coinone has a roadmap. By Q2 2026, they plan to launch “Coinone Bridge” - a cross-chain tool to move assets between Ethereum, Solana, and Cosmos. That’s a big step toward becoming more than just a Korean exchange.They’re also rolling out MPC (Multi-Party Computation) wallets in Q1 2026. This tech splits private keys across multiple devices, making theft nearly impossible. If they pull this off, their cold storage access time will drop from 24 hours to under 5 minutes - a game-changer for liquidity.
But there’s a cloud looming: South Korea’s new 20% capital gains tax on crypto profits kicks in January 2026. Coinone’s CFO warned this could slash trading volume by 30-40%. If that happens, Coinone’s revenue will take a hit - and they might cut features to survive.
Final Verdict: Who Should Use Coinone?
Coinone is the best choice if:- You live in South Korea and have a local ID.
- You want a secure, regulated exchange with no history of hacks.
- You’re interested in staking with real, consistent returns.
- You trade mostly in KRW and don’t need multi-currency support.
Don’t use Coinone if:
- You’re outside Korea and can’t verify with a local ID.
- You need USD, EUR, or other fiat deposits.
- You expect English customer support.
- You want futures, margin trading, or leveraged positions - Coinone doesn’t offer them.
For international traders, better options exist: Binance, Kraken, or Coinbase. They support more currencies, have global support teams, and offer advanced tools. But if you’re in Korea, Coinone is one of the safest, most reliable choices - and its staking program is hard to beat.
Can I use Coinone if I’m not from South Korea?
Technically, yes - you can create an account if you have a foreigner registration number issued in South Korea. But you can’t deposit fiat currency from outside Korea. Withdrawals are only possible in KRW or crypto. Most international users report being blocked from deposits or facing long delays with support. For non-Koreans, Coinone is impractical.
Does Coinone offer margin or futures trading?
No. Coinone does not offer margin trading, leverage, or futures contracts. Some older sources claim otherwise, but as of 2025, all official documentation and user reports confirm these features are unavailable. This is a deliberate regulatory choice - South Korea restricts leverage trading on domestic exchanges to protect retail investors.
What are Coinone’s trading fees?
Coinone charges a flat 0.2% fee for spot trades. High-volume traders who move over 100 million KRW ($75,000 USD) per month get reduced fees: makers pay as low as 0.0%, and takers as low as 0.02%. Deposits are free. Withdrawals cost 1,000 KRW (about $0.75 USD) per transaction, regardless of the cryptocurrency.
Is Coinone safe to use?
Yes, for Korean users. Coinone holds ISO 27001 certification, stores 98% of assets in cold wallets, uses hardware security modules, and has never suffered a major hack. It’s regulated by South Korea’s Financial Services Commission and carries $127 million in insurance through Lloyd’s of London. However, non-Korean users face higher risks due to poor support and potential account freezes.
Does Coinone have a mobile app?
Yes. Coinone has official apps for iOS (version 5.2.1, updated October 2024) and Android (version 5.2.0, updated October 2024). The apps mirror the web interface, with both basic and Pro modes. However, all interface text and help content are in Korean. English speakers will struggle to navigate advanced features without translation tools.
What’s the difference between Coinone and Upbit?
Upbit is the largest exchange in Korea with 52% market share. It offers 400+ cryptocurrencies, lower fees (0.05%), and more educational resources. Coinone has fewer coins (250+), higher fees (0.2%), but better security and a superior staking platform (Coinone Plus). Upbit supports more international users; Coinone doesn’t. If you want variety and lower costs, choose Upbit. If you want security and staking, Coinone wins.
Can I stake on Coinone without locking my coins?
Yes. Coinone’s daily staking option lets you earn interest (around 5.2% APR on average) without locking your coins. You can withdraw your assets anytime. This is ideal for users who want passive income but still need liquidity. Node staking and lock-up staking require holding assets for 90-180 days for higher returns (up to 16.34% and 12% APR, respectively).
Why does Coinone have such low TrustPilot ratings?
The low TrustPilot score (2.1/5) comes almost entirely from international users who can’t verify their accounts, face withdrawal delays, or get no help from support. Korean users, who make up the majority of active traders, rarely leave reviews. On G2.com, where most reviewers are Korean, the rating is 4.3/5. The rating reflects a platform designed for one market - not global users.
What to Do Next
If you’re in South Korea and want a secure, regulated exchange with solid staking options, sign up for Coinone. Use the basic interface to start, then move to Coinone Pro once you’re comfortable.If you’re outside Korea, skip Coinone. Use Binance, Kraken, or Coinbase instead. They support your currency, your language, and your timezone. Don’t waste time trying to force a platform designed for another country.
And if you’re thinking about staking? Coinone Plus is one of the few platforms where you actually get paid daily - no delays, no hidden terms. Just pick your asset, stake it, and watch your balance grow.