How to List Token or Coin on Upbit

Upbit is one of the largest exchanges, ranking among the top 5 exchanges according to CoinMarketCap. It is visited by 1.8 million people every week, generating a trading volume of more than $3 billion. There are more than 300 tokens traded on the platform, and the next one could be yours. 

Today, we will look at what the Upbit exchange is now, what listing options are available, what documents are required, and what the Upbit team pays attention to. We will also go through a step-by-step plan for listing a token on Upbit and common mistakes. Let’s get started!

About Upbit

Upbit is the largest South Korean crypto exchange, which was launched in 2017. Its primary audience is concentrated in South Korea, but the exchange is also represented in Singapore, Indonesia, and Thailand. 

Trading on Upbit is conducted in both Korean won and cryptocurrency pairs. The exchange is known for its strict requirements and places high demands on projects in terms of transparency and compliance with regulations. However, upon successful listing, projects gain access to a multimillion-dollar solvent Asian audience. Listing on Upbit is prestigious because the platform has an excellent reputation and high-quality standards.

Options for entering the platform

Currently, on Upbit, you can list your token on the Korean market and on Upbit Singapore. 

A classic listing on Upbit Korea gives you access to trading in Korean won (KRW pairs), but your project must comply with strict and uniform rules that apply to all projects regardless of their size or popularity. 

The second option is listing on Upbit Singapore. Here, listing will require less strict rules and a separate set of documents, which includes:

• Legal documents allowing you to operate in Singapore.
• You will need to confirm the financial and technical readiness of the project.
• Pass CDD, AML, and CFT compliance.
• Confirm compliance with data transfer between VASPs.

What is checked when submitting an application

To pass all the selection criteria for listing on Upbit, you must provide:

• A detailed whitepaper describing the project’s goals, concept, Roadmap, and other components.
• Transparent and clear tokenomics. It is essential to describe the utility of the token, the total number of coins, and the vesting schedule.
• A smart contract and its audit are performed by one of the trusted audit companies.
• Legal information: registration documents and AML compliance. 
• A working product or MVP. If your project has a product, you must provide a working version of it. Without this, the chances of a successful listing will decrease, as the exchange needs to list projects with real products.
• Information about project partners and the community. The Upbit team will study community activity on social media, news frequency, and other metrics that reveal the community’s real support for the project.
• The team will also check the project for compliance with internal checklists that apply to all projects.

Preparing a package of documents

Before applying, you must prepare a set of documents that will be required when filling out the application.

Step-by-step instructions for submission

Once you have gathered the necessary documents and decided on the listing option (Korea or Singapore), you can start filling out the application. To do this, go to the official form and start filling it out.

In the form, you will need to fill out basic information about the project and token, specify the listing date, the project’s social networks, information about the smart contract, and the contact details of the person in charge.

After applying, you will need to wait from 3 weeks to several months while the exchange team reviews all the documents provided. If additional questions arise, you must respond quickly and clearly and provide additional documents if necessary. 

After the application is approved, the technical integration of the token will take place, during which the exchange’s technical team will integrate the smart contract into the exchange, configure the deposit and withdrawal of the token, and check the functionality of all features. 

This will be followed by marketing activities, which are agreed upon in advance with the exchange. Upbit will announce the listing on its social media channels and, as agreed, will hold trading contests and airdrops. Trading will start on the appointed date and time.

Common mistakes and how to avoid them

If your team is listing for the first time, you will most likely encounter the mistakes that most beginners face. Among the most common mistakes leading to application rejection are:

• Weak social activity of the community. The Upbit team will review your social media activity and follower authenticity, and gather project feedback from sources beyond your official channels.
• Poorly developed marketing plan. If your plan does not include clear actions aimed at PR activities for your project, this may be a reason for rejecting your application.
• Unclear tokenomics due to a lack of a clear description of utility, vesting schedule, or fair distribution.
• Lack of smart contract audit. The exchange must incorporate verified smart contracts, as it prioritizes its reputation and user security. Consequently, failing to undergo a security audit will likely result in a listing rejection.
• An unfinished package of documents that has not been sufficiently developed.
• Non-compliance with AML requirements.
• A non-transparent project team or some of the documents, such as the white paper or Roadmap

Since Upbit takes project verification seriously, it is essential to provide the most complete and transparent package of documents possible. If you are unsure of your abilities, we recommend contacting the listing agency Listing.Help for assistance. We help at any stage of the listing process and provide turnkey solutions. We help assess the likelihood of listing on Upbit, prepare a package of documents and the project to meet Upbit’s listing requirements, find non-obvious errors in documents, and build positioning and a marketing plan. We have direct contact with exchange teams, including Upbit, so the listing process is on average 5 times faster than an independent listing. 

We also provide post-listing support, including promotion support, market-making assistance, and project development recommendations. If you still have questions, you can request a free consultation to get answers to your questions and an assessment of your chances of a successful listing on Upbit. 

Conclusion

Listing on Upbit is a serious challenge for a project, but it opens the door to one of the most solvent audiences. The key to a successful listing on the South Korean exchange is thorough preparation. Try not to exaggerate the numbers and only provide truthful and up-to-date information. Work with your community and follow your marketing plan. Then your chances of a successful listing on Upbit will be high. 

If you still have questions, ask us. We will consult you free of charge and assess your chances of Upbit listing. Good luck with your preparations!

For more insights and updates on the crypto world, don’t forget to check out our blog at Listing.Help.