What is Bithumb Exchange?
Bithumb is a cryptocurrency exchange that is based in Seoul, South Korea. It is one of the biggest trading volume exchanges in the world and enables its users to trade 100+ major cryptocurrencies against the South Korean Won (KRW).
It was created by a company named BTC Korea.com Co. in the year 2013. Their headquarters are based in South Korea. Apart from Korean, the Bithumb website is also translated into several other languages such as English, Chinese, Japanese, Hind, and Spanish.
Bithumb Features
- Supported Coins: There are more than 100+ different coins that you can buy, sell and trade at Bithumb. The type of coin available depends on what you are looking for.They support the majority of popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash.
- Supported Coins: There are more than 100+ different coins that you can buy, sell and trade at Bithumb. The type of coin available depends on what you are looking for.They support the majority of popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash.
- Security: Bithumb allows you to set up two-factor authentication. This means that every time you log in or attempt to withdraw funds, you need to enter a number that is sent to your mobile phone.The website also uses encryption technology which further protects your personal details from outside hackers.
- Customer Support: The Bithumb exchange has a 24/7 live chat facility when it comes to customer service, as well as phone support too. This ensures you can still get support should you have any problems with your account.
Bithumb Fees and Limits
There are a number of top crypto exchanges that do not charge different fees between takers and makers. Usually, it is called that such exchanges’ trading fees are “flat”. Bithumb is one of the exchanges that charge flat trading fees. Their flat trading fee is 0.25%.
Bithumb charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. Bithumb accepts deposits through credit cards, cryptocurrencies, and wire transfers. Bithumb only accepts fiat currency (KRW) deposits from Korean residents. All other users will need to fund their accounts with cryptocurrency deposits.
Bithumb Mobile App
Bithumb offers a native mobile app on both Google Play and the iStore, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history on the go
Bithumb Pros and Cons
Pros
- 24/7 customer support in multiple languages
- Competitive 0.15% commission on trades
- User-friendly trading platform
- A wide selection of cryptocurrencies
- Range of order types available
Cons
- Major fiat currencies not supported
- Targeted mainly at South Korean users
- Some translation issues on the English version of the website
- Fiat deposits only available to Korean residents
- Does not provide cryptocurrency pairs
Conclusion
Overall, the exchange has an amazing user interface and provides a variety of tokens. Also, Bithumb is very good especially for South Koreans, as it offers fiat currency trading.
Some of the excellent features on the bithumb exchange makes it a very user-friendly platform, especially for beginner cryptocurrency traders. In addition, the low fees and a wide range of cryptocurrencies that are supported on bithumb certainly make the exchange an ideal choice.