An In-Depth Bithumb Review: What You Need to Know Before You Start Trading in 2023!

Bithumb is one of the world’s leading cryptocurrency exchanges, providing an easy way for users to buy, sell, and trade digital assets.

Started in 2014, it quickly became one of the most important trading platforms in the industry, and has since become a major player in the crypto market.

This Bithumb review will provide a comprehensive overview of what you need to know before trading on it, including its fees, security measures, customer support, and other notable features.

With the help of this review, you’ll be able to make an informed decision on whether Bithumb is the right choice for you when it comes to trading cryptocurrencies in 2023.

Overview and History of Bithumb

Bithumb is one of the world’s leading cryptocurrency exchanges, providing an easy way for users to buy, sell, and trade digital assets.

Bithumb was established in 2014 and quickly became one of the most important trading platforms in the industry. It has since become a major player in the crypto market, competing with its neighboring traders.

Bithumb is currently the largest exchange in South Korea, with one-third of the market share. The exchange was hacked in June 2018, resulting in a loss of $2.6 million in cryptocurrency.

Despite the unfortunate event, Bithumb has since undergone major improvements to ensure user safety and convenience.

Bithumb Supported Currencies and Countries

Bithumb is currently accessible in numerous nations across the globe, yet the majority of its operations are conducted in South Korea. It provides support for numerous digital currencies, from the famous ones such as Bitcoin, Ethereum, and Ripple to less well-known altcoins such as Cortex, ChainLink, Orbs, and many others.

Bithumb Review – Key Features

• Wide range of cryptocurrencies – Bithumb can offer more than 200 different kinds of cryptocurrency, which is more than many exchanges in the U.S. that have a license, yet not as many as certain international exchanges that provide over 500 different kinds of cryptocurrency. The users can access a number of the most valuable coins and tokens as well as a few uncommon ones.
• Robust Trading Tools – Bithumb’s trading platform offers an expansive selection of trading tools, including margin trading, real-time trading, and margin funding. The platform also offers a variety of trading options, including market, limit order, and stop order. Users can also place orders within the limit and stop price range, as well as use a number of advanced options to maximize profits.
• Competitive Trading Fees – Bithumb charges relatively low trading fees, making them a viable option for traders who are just starting out. While the exact fees vary depending on the amount you trade and other factors, Bithumb’s fees start at 0.2% and top out at 3%.
• Advanced Security Measures – Bithumb has implemented a number of advanced security measures to keep your funds safe. The exchange uses a two-factor authentication system to increase security, and it stores client funds in an offline cold wallet.
• User-Friendly Interface – Bithumb’s user-friendly interface makes it easy for beginners to navigate. This makes it an ideal platform for those who are just getting started in the world of cryptocurrency trading.
• Very High Trading Volume – Bithumb cryptocurrency exchanges cope with significant amounts of transactions daily. However, the trading procedures are structured in a manner that prevents any individual group from influencing market prices in an unjust manner.
• Huge Liquidity Pools – Bithumb customers have the advantage of having access to a vast amount of liquidity, making it convenient for them to purchase and sell assets at their desired rate.
• 24×7 Trade Monitoring – Whilst constructing this assessment of Bithumb, we noticed that this market provides high security and dependability of transactions by setting up a 24/7 trading tracking system.

Bithumb Review – Pros and Cons

• Pros Robust Trading Tools – Bithumb’s trading platform offers an expansive selection of trading tools, including margin trading, real-time trading, and margin funding. The platform also offers a variety of trading options, including market, limit order, and stop order. Users can also place orders within the limit and stop price range, as well as use a number of advanced options to maximize profits.
• Competitive Trading Fees – Bithumb charges relatively low trading fees, making them a viable option for traders who are just starting out. While the exact fees vary depending on the amount you trade and other factors, Bithumb’s fees start at 0.2% and top out at 3%.
• Advanced Security Measures – Bithumb has implemented a number of advanced security measures to keep your funds safe. The exchange uses a two-factor authentication system to increase security, and it stores client funds in an offline cold wallet.
• User-Friendly Interface – Bithumb’s user-friendly interface makes it easy for beginners to navigate. This makes it an ideal platform for those who are just getting started in the world of cryptocurrency trading.
• Cons Security Holes – Bithumb’s security measures have helped the exchange earn high marks for protection, but this doesn’t mean hackers haven’t found their way in. In June 2018, Bithumb was hacked and $2.6 million was lost in a security breach. The exchange has since made improvements to ensure user safety and convenience, but this isn’t the first time it’s been hacked.
• Not Recommended for New Traders – Bithumb has been a popular choice among experienced traders for a while now, but it’s not a good option for those who are just getting into the market. Bithumb’s trading fees are relatively high, making it an expensive option for beginners.

How Bithumb works?

Bithumb is the foremost cryptocurrency exchange in South Korea, allowing local users to purchase, trade, and sell digital currencies using their platform and app. It also provides various options for people to generate income, such as staking. Certain blockchains use a proof-of-stake model to authorize transactions. Investors can gain rewards by allocating their funds to the staking pool, while also helping to ensure the security of the network.

Other helpful features include:

1. Auto trading: Bithumb’s AI works to carry out multiple buy/sell operations within a specific cost range. Such bots have a questionable standing, so it is most suitable for long-term investors to just purchase and keep the assets.
2. Payment application called Bithumb Cash: Clients can pay using QR codes and barcodes in restaurants, cinemas, and other places.
3. Club B: People who make large deposits and trade in huge quantities can apply for premium services.

An In-Depth Review of Bithumb: Is It Safe to Use?

Bithumb is one of the leading cryptocurrency exchanges in the world. It is a global digital asset exchange platform that offers trading services for Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies.

Bithumb has become one of the most popular exchanges around the world due to its user-friendly interface, competitive fees, and wide selection of trading pairs.

But is Bithumb safe to use? In this in-depth review, we will explore the safety and security of the Bithumb exchange, as well as its features and services. Let’s get started.

Introduction to Bithumb

Bithumb is a global digital asset exchange platform based in South Korea. It was founded in 2014 and is currently one of the largest exchanges in the world.

The platform allows users to buy and sell cryptocurrency, as well as trade cryptocurrency pairs. It is one of the few exchanges that offer trading services in multiple languages, including English, Korean, Chinese, and Japanese.

The platform offers a wide selection of trading pairs, including Bitcoin, Ethereum, Ripple, Litecoin, Dash, and Monero. It also offers margin and futures trading, as well as an API for automated trading.

The platform charges competitive fees for its services and offers a variety of payment methods, including credit cards, bank transfers, and even PayPal.

Bithumb Global: What is It?

Bithumb Global is an international version of the Bithumb exchange. The platform is designed to make it easier for users around the world to access the Bithumb exchange.

It is available in over 200 countries and offers a wide range of services, including cryptocurrency trading, margin trading, futures trading, and an API for automated trading.

The platform allows users to buy and sell cryptocurrency, as well as trade cryptocurrency pairs. It also offers competitive fees and a variety of payment methods, including credit cards, bank transfers, and PayPal.

Bitglobal: What is It?

Bitglobal is Bithumb Global’s proprietary cryptocurrency trading platform. The platform allows users to buy and sell cryptocurrency, as well as trade cryptocurrency pairs.

It is available in over 200 countries and offers competitive fees and a variety of payment methods, including credit cards, bank transfers, and PayPal.

Bitglobal offers a wide range of features, including advanced charting tools, market data, and news. It also offers margin and futures trading, as well as an API for automated trading.

Bithumb Review 2023 – Security and Regulatory Compliance

Bithumb exchange is committed to providing a secure and compliant trading environment for its users. The platform uses advanced security measures to protect user funds and personal information.

It is also compliant with all relevant regulations, including the Anti-Money Laundering Directive and the Know Your Customer Directive.

In addition, Bithumb has partnered with BitGo, one of the leading cryptocurrency security firms, to provide an extra layer of protection for its users. BitGo is a multi-signature wallet service that uses multiple keys to protect user funds.

Bithumb Global Exchange Fees

Bithumb Global exchange fees vary depending on the type of transaction. For example, the fee for buying or selling cryptocurrency is 0.25%. The fee for trading cryptocurrency pairs is 0.07%. The fee for margin trading is 0.1%. The fee for futures trading is 0.05%.

The platform also charges a withdrawal fee of 0.001 BTC, 0.005 ETH, 0.01 LTC, 0.02 XRP, 0.01 DASH, and 0.1 XMR.

Bithumb API and EarnX Coin

Bithumb Global offers an API for automated trading. The API allows users to create automated trading bots that can execute trades on their behalf. The API also includes market data, charting tools, and news.

In addition, Bithumb Global exchange has recently launched the EarnX Coin, a cryptocurrency token designed to reward users for their trading activities. Users who hold EarnX Coin will be eligible for various benefits, including discounted fees and exclusive access to new features.

Bithumb US Customers

Bithumb Global does not currently accept US customers. The platform is not available in the US due to regulatory restrictions. US customers are advised to use other cryptocurrency exchanges if they want to buy or sell cryptocurrency.

Bithumb Listing EarnX Coin

Bithumb Global recently announced that it will be listing the EarnX Coin. The platform will be listing the token on its exchange and will be offering users the opportunity to buy and sell the token. The listing of the token is expected to increase the liquidity of the token and make it easier for users to buy and sell the token.

Bithumb Global vs. Bithumb

Bithumb Global and Bithumb are two different platforms. Bithumb is the original platform, while Bithumb Global is the international version of the exchange. The two platforms offer similar services, but Bithumb Global is only available in over 200 countries, while Bithumb is only available in South Korea.

Bithumb Arbitrage

Bithumb Global offers users the opportunity to take advantage of arbitrage opportunities. Arbitrage is the process of buying and selling assets on different exchanges in order to take advantage of price discrepancies between the two exchanges.

Bithumb Global allows users to take advantage of these opportunities by allowing them to buy and sell assets on different exchanges from within the platform.

Bithumb English

Bithumb Global is available in multiple languages, including English. The platform offers a wide range of features and services in English, including market data, charting tools, and news. The platform also offers support in English and is available in over 200 countries.

Bithumb Monero, Bithumb XRP Price, Bithumb NEO, Bithumb ICX, and Bithumb TRX

Bithumb Global offers trading services for a variety of cryptocurrencies, including Monero, XRP, NEO, ICX, and TRX. The platform offers competitive fees and a variety of payment methods, including credit cards, bank transfers, and PayPal.

Bithumb Review 2023 – Cryptocurrency selection

Bithumb exchange offers approximately two hundred diverse digital currencies, such as Bitcoin, Ethereum, Binance Coin (BNB), Solana (SOL), and Terra. The only two stablecoins available on the platform are Tether (USDT) and US Dollar Coin (USDC), and the only dollar-based stablecoin is DAI.

As for trading pairs, Bithumb uses KRW and BTC. Consequently, investors have to move funds into either South Korean won or Bitcoin before they can buy other coins, which can make exchanging less efficient.

For example, if someone wanted to switch Solana to Ethereum, they would have to first convert SOL to BTC or KRW, and then make another transaction to ETH. Additionally, the popular meme token Dogecoin is offered, but its derivative Shiba Inu (SHIB) is not.

Bithumb Review – Security Measures

Bithumb has implemented a number of advanced security measures to keep your funds safe. The exchange uses a two-factor authentication system to increase security, and it stores client funds in an offline cold wallet.

Bithumb is also highly regulated, which contributes to its high level of protection. Bithumb exchange also has a Disaster Recovery Team that is capable of handling large-scale events, such as a hack or server crash.

As one of the most popular options in the industry, Bithumb has been targeted by hackers on multiple occasions. This, along with the exchange’s highly regulated status, contributes to its high level of protection.

Bithumb is also highly monitored by the Korean government, which contributes to its high level of protection. The exchange is also highly monitored by the Korean government, which contributes to its high level of protection. This ensures high levels of protection against hacking.

Bithumb Trading Accounts

When people register for a Bithumb account, they open a Level 1 account with discounted transaction charges and access to a variety of services and features.

However, people who wish to trade large volumes of assets need to open a corporate account, which provides access to special Bithumb Prime perks and reduced trading fees.

To create an account with high trading capacity, individuals are required to provide additional identification evidence and verification papers.

Bithumb User Interface

According to Bithumb’s review, the platform’s user interface is convenient and easy to utilize. Both amateur and experienced traders are able to use this cryptocurrency exchange with no difficulty.

One does not experience any delays or technical issues when going from one tab to another on the Bithumb website. On the exchange interface, the order book can be seen on the right side of the screen, and all the accessible cryptocurrencies are shown on the left.

The order book displays the current buy and sell rates of the currencies in real time and is consistently updated with market information.

Bithumb Review – Mobile App

Bithumb’s mobile app is available for both Android and iOS users. The app allows users to easily trade cryptocurrencies on the go, while also providing information on the latest market movements and trading tools.

Bithumb’s mobile app is available for both Android and iOS users and is very user-friendly. It features an extensive set of features, including a live trading feed, real-time market information, and an easy-to-use interface.

The app also provides a number of security features, including 2-factor authentication, a secure offline wallet, and a Disaster Recovery Team. Bithumb’s mobile app is highly user-friendly and provides an extensive set of features.

It also provides a number of security measures, including 2-factor authentication, a secure offline wallet, and a Disaster Recovery Team.

Read: 100 Best Centralized Exchanges of 2023 – What Are Centralized Exchanges (CEXs), And How Do CEXs Work?

Services and Products Offered by Bithumb

1. Clients of the Bithumb exchange are able to purchase and sell an array of digital currencies, including Bitcoin, Ethereum, Dogecoin, Ripple, and many more.
2. Bithumb Cash is a feature of the platform that reflects the amount of cash in users’ accounts and can be utilized for both online and offline payments.
3. Automated trading and staking services are available on the Bithumb crypto exchange.
4. A complimentary coupon for their first purchase and exchange is given to new users who register with Bithumb, and the platform provides a cryptocurrency trading bot feature too.
5. Bithumb exchange has some of the lowest transaction fees for crypto trading in South Korea, with an average of 0.04%.
6. Bithumb Prime, a special offering for institutional account holders, is available and provides incentives for large trading volumes.
7. It has an application (app) as well.
8. Bithumb API services are available, and they also support trading bots.

Bithumb Fees and Charges

The price of trading cryptocurrencies on Bithumb depends largely on the amount you trade and the individual’s location. In most cases, the price of one coin will range from 0.2% to 3%.

When it comes to withdrawal fees, the price is dependent on the amount you withdraw, although the fee rarely exceeds 10,000 Korean won.

Unfortunately, Bithumb exchange does not provide any discounts or introductory rates for new customers, so it’s worth shopping around to find a better rate. The following are some of the most common trading fees that are charged by Bithumb.

• 0.2% to 3% – This refers to the price of trading one coin, which is within the range of 0.2% to 3%.
• 10,000 Korean won withdrawal fee – This refers to the fee that is charged for withdrawing funds from your Bithumb account.
• Market and Limit Order fees – This refers to the price of placing a market or limit order, which is within the range of 0.05% to 0.2%.
• Stop Order fee – This refers to the price of placing a stop order, which is within the range of 0.05% to 0.2%.
• Order cancellation fee – This refers to the price of canceling an order, which is within the range of 0.05% to 0.2%.

Transaction commission

Category	Fees (Maker Fee / Taker Fee)
KRW Market	0.04% ~ 0.25%
BTC Market	0.04% ~ 0.25%

• Deposit/withdrawal commission

Bithumb Deposit and Withdrawal Method

Bithumb only allows you to fund your account with either cryptocurrencies or Korean won (KRW). Numerous reviews of this exchange have pointed out the limitation of only supporting KRW as a source of deposits as a major downside.

That said, deposits in both forms of currency are free of charge. You can make deposits from digital wallets or debit/credit cards. When it comes to withdrawals, there is a small fee associated with the method.

You can withdraw either KRW or the corresponding cryptocurrency. The withdrawal fee for Bitcoin (BTC) and Ethereum (ETH) is 0.01 while it is 1 for Ripple. Additionally, there are no withdrawal limits for general accounts on Bithumb.

Bithumb Accepted Payment Method

In order to start performing trades on Bithumb, individuals have to have their own verified accounts. They can fund their trading accounts using either digital currency or fiat currency, with only KRW being accepted.

It is also possible to make payments by utilizing either a credit card or debit card, or even transferring funds from a digital wallet.

Bithumb Account Registration Process

It is simple to register with Bithumb, all one has to do is adhere to the proper procedure.

Steps to Create an Account with Bithumb:

1. Individuals from only certain accepted countries are able to open a trading account with the Bithumb exchange.
2. To begin, they must visit the Bithumb website and click ‘sign-in’.
3. Then, they must supply their username and email address.
4. They must also pass a verification test to verify that they are not computer programs.
5. Following this, they must input their country of origin, home address, and phone number.
6. They must also create a strong password for their account and not share it with anyone.
7. Bithumb exchange customer service will recommend this for safety purposes.
8. After this, a verification code will be sent to their phone which must be entered on the website.
9. An email will be sent to confirm the registration.
10. The user must click the link within the email to complete the process.
11. Now, the user can begin trading by depositing either cryptocurrency or KRW.
12. However, for extensive amounts of trading, additional identification documentation validation is required.

What could be improved

Only available in South Korea

The major disadvantage of Bithumb exchange is that it is only accessible in South Korea. Non-Korean citizens who are not capable of certifying their identities with mobile phones cannot register for a Bithumb account. This was done in order to meet South Korean regulatory standards.

Consequently, Bithumb is among the few crypto exchanges that are given the authority to operate in South Korea. Unfortunately, it also implies that only Koreans can create accounts.

English translation is confusing

As only South Korean financiers can access the Bithumb platform, it is logical for certain sections of the site to be presented solely in the Korean language. Furthermore, it is admirable that there is a version of the website in English for most parts.

Nonetheless, the translations are not done by a native speaker, and as a result, can be difficult to interpret. If Korean isn’t your native language, you may have to review the website with great attention to be able to comprehend everything it has to offer.

Limited trading pairs

On the Bithumb trading platform, the only accepted base currencies are Bitcoin (BTC) and South Korean won (KRW). This implies that customers must first transfer their assets into BTC or KRW before they can exchange various digital currencies with one another.

For instance, you are unable to trade Cardano (ADA) and Terra (LUNA) without first exchanging them into BTC or KRW.

Limited security information

It is unfortunate that Bithumb, a platform that has experienced a few breaches, does not provide more details about its security protocols.

It would be helpful to understand what percentage of its digital resources are stored in offline wallets and the other safety protocols that are in place. Although Bithumb has not been hacked since 2019, investors of cryptocurrency are entitled to have further confidence.

Customer Support

Bithumb’s customer assistance is always available and can be contacted anytime. There is a live chat feature on the Bithumb website where users can ask inquiries related to trading.

Furthermore, it can also be reached through its social media accounts like Twitter, Youtube, and Medium. The customer service of the platform is renowned for its speedy resolution of customer issues.

Alternatives to consider

• If you want an exchange that works internationally: Gemini, a highly sought-after cryptocurrency trading platform, takes a responsible approach to abiding by laws and regulations. It is accessible globally, with a presence in more than 60 countries, as well as within every U.S. state. This platform is ideal for all types of digital currency investors, from newbies to experienced traders.
• If you want an exchange with more trading pairs: Coinbase is putting a lot of effort into offering a wide array of digital currencies, in addition to a comprehensive list of trading pairs. Furthermore, it allows users to use various types of traditional currencies.

Read Our Full Gemini Review.

Read Our Full Coinbase Review.

Is your cryptocurrency safe with Bithumb?

Bithumb has an unfavorable standing in terms of safety. The exchange was hit three times in the two years before March 2019. Since then, there have been no incidents.

When it comes to the security features that we usually look for, it is not clear from Bithumb’s website what safety steps they have taken. For instance, there is no indication that they keep a majority of their funds in cold storage. Keeping digital money offline makes it more difficult for criminals to access your assets. Given its past of security violations, it would be beneficial to see a precise page specifying its security promises.

Bithumb does mention that they monitor user activity 24/7, indicating that they should be able to recognize any unusual activity and take measures to safeguard your funds. The platform also provides two-factor authentication (2FA) for an extra layer of user-level security.

Bithumb is right for you if:

If you are an investor based in South Korea interested in trading cryptocurrencies with low fees, you can access Bithumb’s cryptocurrency payment platform.

Conclusion

Bithumb is one of the leading cryptocurrency exchanges in the world. It is a global digital asset exchange platform that offers trading services for Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies.

Bithumb has become one of the most popular exchanges around the world due to its user-friendly interface, competitive fees, and wide selection of trading pairs. In this in-depth review, we explored the safety and security of the Bithumb exchange, as well as its features and services.

We also discussed Bithumb Global, Bitglobal, Bithumb API and EarnX Coin, Bithumb US customers, Bithumb listing EarnX Coin, Bithumb Global vs. Bithumb, Bithumb arbitrage, Bithumb English, and Bithumb Monero, Bithumb XRP Price, Bithumb NEO, Bithumb ICX, and Bithumb TRX.

Overall, Bithumb is a safe and secure exchange with a wide selection of features and services. It is compliant with all relevant regulations and uses advanced security measures to protect user funds and personal information.

The platform also offers competitive fees and a variety of payment methods, including credit cards, bank transfers, and PayPal.

Bithumb Reviews FAQs