Korbit is the first of its kind Bitcoin-Korean Won trading platform. Prior to its launch, which occurred in April 2015, Korbit had raised $600,000 in funding from investors in Silicon Valley, and then again, during a Series A funding round it managed to gain $3 million in venture capital, becoming a multimillion-dollar bitcoin company.
Korbit is comprised of professionals that used to work for such leading corporations as IDEO, UBS, Samsung Electronics, Microsoft and the Korea Exchange.
Korbit offers a wide variety of services:
1) The Korbit Merchant Processor is a payments module that merchants can add to their online or offline store that automatically converts bitcoins into Korean wons, allowing for easy bitcoin payments.
2) According to Korbit, 25 000 individuals and 400 merchants actively use its business-oriented processing service Korbit Pay on a regular basis.
3) Korbit's Bitcoin Wallet is used by customers to send, receive, and store bitcoins.
4) Korbit was the first South Korean company to integrate BitGo Instant into its Bitcoin transfer and instant transfer protocols.
5) Korbit was the country’s first startup to implement Ethereum wallet. Currently, the Korbit team is working on enabling ETH transfers among Korbit users via email.
6) In March 2016, Korbit launched a cryptographically verifiable Proof-of-Reserves system called BitTrust, through which users can verify that their accounts are fully funded.
The Korbit team said that the exchange would introduce a fixed fee of 0.01 ETH per withdrawal as well as increase the daily withdrawal limit of Ether to 1,000 ETH and KRW (South Korean Won) and the deposit limit from 10,000,000 KRW to 50,000,000 KRW for active users. For regular users, the daily limit would be increased to at least 150 ETH.
Korbit is the first of its kind Bitcoin-Korean Won trading platform. Prior to its launch, which occurred in April 2015, Korbit had raised $600,000 in funding from investors in Silicon Valley, and then again, during a Series A funding round it managed to gain $3 million in venture capital, becoming a multimillion-dollar bitcoin company.
Korbit is comprised of professionals that used to work for such leading corporations as IDEO, UBS, Samsung Electronics, Microsoft and the Korea Exchange.
Korbit offers a wide variety of services:
1) The Korbit Merchant Processor is a payments module that merchants can add to their online or offline store that automatically converts bitcoins into Korean wons, allowing for easy bitcoin payments.
2) According to Korbit, 25 000 individuals and 400 merchants actively use its business-oriented processing service Korbit Pay on a regular basis.
3) Korbit's Bitcoin Wallet is used by customers to send, receive, and store bitcoins.
4) Korbit was the first South Korean company to integrate BitGo Instant into its Bitcoin transfer and instant transfer protocols.
5) Korbit was the country’s first startup to implement Ethereum wallet. Currently, the Korbit team is working on enabling ETH transfers among Korbit users via email.
6) In March 2016, Korbit launched a cryptographically verifiable Proof-of-Reserves system called BitTrust, through which users can verify that their accounts are fully funded.
The Korbit team said that the exchange would introduce a fixed fee of 0.01 ETH per withdrawal as well as increase the daily withdrawal limit of Ether to 1,000 ETH and KRW (South Korean Won) and the deposit limit from 10,000,000 KRW to 50,000,000 KRW for active users. For regular users, the daily limit would be increased to at least 150 ETH.
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