Recent data reveals a clear divide in user behavior between South Korea’s two leading cryptocurrency exchanges, Bithumb and Upbit. While Bithumb dominates in total unique visitors, Upbit stands out for user engagement and loyalty, indicating a deeper level of investor interaction.
According to a joint analysis by WorkToday and Busan Ilbo, Bithumb attracted approximately 1.13 million unique users between March 25 and April 25, surpassing Upbit’s 550,000. However, when it comes to monthly user activity, Upbit significantly outperformed its competitor.
On average, Upbit users accessed the platform 12 times a month, visited 42.2 pages per session, and spent an average of 9 minutes and 41 seconds per visit. In contrast, Bithumb users averaged only 5.8 visits, 10.1 pages per session, and 6 minutes and 4 seconds of engagement.
Experts interpret this contrast as a reflection of each platform’s strategy and technical depth. Bithumb excels in attracting users through marketing events and frequent coin listings, while Upbit retains users with a streamlined user interface, detailed asset tracking, and optimized mobile functionality.
Kyunsoo Kim, CEO of data analytics firm EtherLab, noted, “The number of pages viewed and time spent indicate real trading activity. Upbit’s interface supports deeper investor involvement, while Bithumb tends to attract short-term visits driven by external incentives.”
The findings suggest that in an increasingly institutionalized crypto market, platform competitiveness is no longer determined by traffic alone. Instead, sustained user interaction—measured through return visits, session duration, and feature usage—is becoming the true indicator of value.
As regulatory oversight intensifies and investor protection measures advance, South Korea’s crypto exchanges are shifting from mere trading venues to comprehensive fintech platforms. In this evolving landscape, user behavior analytics will likely play a central role in shaping exchange strategies and market dynamics.
