About Bithumb exchange

▎Bithumb Exchange: A Comprehensive Overview

▎Introduction

Bithumb is one of the largest and most well-known cryptocurrency exchanges in South Korea. Founded in 2014, it has gained a reputation for its user-friendly interface, extensive range of cryptocurrencies, and robust security measures. This article will provide an in-depth look at Bithumb, covering its features, services, fees, security, and more.

Bithumb is a centralized cryptocurrency exchange based in South Korea, founded in 2014. It has approximately 8 million registered users and offers over 330 cryptocurrencies and trading pairs. The platform aims to innovate and provide a convenient and trustworthy digital finance experience.

▎History and Background

Bithumb was established by a group of cryptocurrency enthusiasts and quickly rose to prominence in the South Korean market. It became one of the first exchanges to offer a wide variety of cryptocurrencies, allowing users to trade Bitcoin, Ethereum, Ripple, and many altcoins. Over the years, Bithumb has expanded its services and user base, becoming a key player in the global cryptocurrency exchange landscape.

▎Key Features

▎1. User-Friendly Interface

Bithumb’s platform is designed to cater to both beginners and experienced traders. The intuitive interface allows users to navigate easily through various sections, including trading charts, order books, and account settings.

▎2. Wide Range of Cryptocurrencies

Bithumb supports numerous cryptocurrencies, making it one of the most diverse exchanges available. Users can trade major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as a variety of altcoins.

▎3. Trading Options

Bithumb offers several trading options, including spot trading, margin trading, and futures trading. This variety allows users to choose their preferred trading style and risk level.

▎4. Mobile App

For traders on the go, Bithumb provides a mobile app available for both iOS and Android devices. The app offers many of the same features as the desktop version, enabling users to trade anytime and anywhere.

▎Security Measures

Security is a critical concern for any cryptocurrency exchange, and Bithumb takes this issue seriously. Some of the security measures implemented by Bithumb include:

• Two-Factor Authentication (2FA): Users are encouraged to enable 2FA to add an extra layer of security to their accounts.
• Cold Wallet Storage: A significant portion of users’ funds is stored in cold wallets, which are not connected to the internet, reducing the risk of hacking.
• Regular Security Audits: Bithumb conducts regular security audits to identify and address potential vulnerabilities.

Despite these measures, Bithumb has experienced security breaches in the past. In 2017 and 2018, the exchange suffered hacking incidents that resulted in significant losses. Since then, Bithumb has implemented stricter security protocols to protect user funds.

▎Fees

Bithumb’s fee structure is competitive compared to other exchanges. The platform charges trading fees based on a tiered system, where fees decrease as trading volume increases. As of now, the typical trading fee for makers is around 0.15%, while takers might pay around 0.25%. Additionally, withdrawal fees vary depending on the cryptocurrency being withdrawn.

▎Customer Support

Bithumb provides customer support through various channels, including email and live chat. The support team is generally responsive, but users have reported mixed experiences regarding the speed and effectiveness of assistance.

▎Regulatory Compliance

As a South Korean exchange, Bithumb must comply with local regulations set forth by the Financial Services Commission (FSC) and other regulatory bodies. The exchange has made efforts to adhere to these regulations by implementing Know Your Customer (KYC) procedures and Anti-Money Laundering (AML) policies.

▎Conclusion

Bithumb is a prominent cryptocurrency exchange that offers a wide range of features for both novice and experienced traders. While it has faced challenges in terms of security in the past, it has taken significant steps to enhance its security measures and improve user experience. With a diverse selection of cryptocurrencies and competitive fees, Bithumb remains a popular choice for traders looking to enter the South Korean market or engage in global cryptocurrency trading.

▎Final Thoughts

As with any investment in cryptocurrency, users should conduct thorough research and consider their risk tolerance before trading on any platform, including Bithumb. Staying informed about market trends and security practices can help users make educated decisions when navigating the dynamic world of cryptocurrency trading.

Which country is Bithumb exchange?

South Korean

Bithumb is a South Korean cryptocurrency exchange. Founded in 2014, Bithumb Korea has 8 million registered users, 1 million mobile app users, and a current cumulative transaction volume has exceeded USD $1 trillion.

Is Bithumb a big exchange?

About Bithumb. Bithumb, a prominent cryptocurrency exchange in South Korea, boasts a daily trading volume of $205 million as of the latest available data, and an extensive list of over 170 cryptocurrencies for trading.

What is Bithumb exchange ranking?

Top Cryptocurrency Spot Exchanges

#	Exchange	Avg. Liquidity
18	Bithumb	534
19	LBank	644
20	XT.COM	622
21	Tokocrypto	581

What is Bithumb used for?

Bithumb (Founded in 2014) is a South Korean cryptocurrency exchange. It allows users to buy, sell, and store Bitcoin and Ethereum (ETH). Bithumb offers additional services like remittances and gift vouchers.

What are the fees for Bithumb trading?

As for the fees at bithumb, the exchange charges the following fees: 15% basic commission (Taker/Maker fee) 0% ~ 0.075 % (fixed amount coupon transactions)

Who is the CEO of Bithumb?

Overview. Back Young Heo is the Chief Executive Officer at Bithumb.

Can I withdraw from Bithumb?

Withdrawals from Bithumb can be completed in a matter of hours, depending on network conditions. However, your first withdrawal will have a delay of 72 hours for security reasons.

Does Bithumb need KYC?

Bithumb Global ensures that all accounts are KYC verified as a security measure to protect users. Once you have a verified account you can start trading.