coinbase

The process for Koreans to top up Base ETH with KRW:

1. Open a fiat-supported crypto exchange account (e.g., Upbit, Bithumb).
2. Open a bank account, as each exchange only supports one exclusive bank.
3. Deposit fiat on the CEX and purchase ETH.
4. Complete KYC and wait 72 hours for the first crypto withdrawal to be enabled.
5. Withdraw ETH on the mainnet, as none of the CEXs in Korea support direct Base withdrawals.
6. Bridge ETH from the mainnet to Base using a decentralized bridge or another CEX that supports Base ETH withdrawals (which may require an additional KYC).

Overall, it will take several hours to complete all the sign-ups and and KYC processes, plus a 72-hour waiting period. (Direct crypto purchases with credit cards are completely blocked by Korean credit card companies).

What are the processes are like in other countries?

👷🏻‍♂️hardhat at hunt.town & mint.club


Brand & Visual Designer 💁🏻‍♀️ @base Ambassador building /base-my. My own fun little corner at /cheryl

Binance is not blocked, but they don't support fiat money (KRW) deposits.

wow that’s a really long process! is Binance blocked in Korea?