Bithumb Review
Bithumb Review
Bithumb Global is reputable exchange that allows traders to buy, sell and trade a wide variety of digital assets. Currently, Bithumb Global has a 24 hour volume of $0. The exchange has its own coin named the Bithumb Coin and offers traders 19 coins and 250 pairs.
| Overview | |||
|---|---|---|---|
| 🏆 CI Exchange Rank | 3.9 (#30) | 📈 24H Volume | $0 (#38) |
| 📌 Headquartered | South Korea | 🧱 Founded | 2014 |
| 💧 CI Liquidity Rank | 3.927 (#53) | 🚀 Beginner-friendly? | Yes |
| 💲 Supports Fiat? | Yes | 🎌 Languages Supported | |
| 💼 Business Accounts | Yes | ✖️ Margin Trading | Yes |
| 👛 External Wallet | No | 🔃 OTC Trading | Yes |
| 📱 Mobile App | Yes | 💰 Integrated Wallet | Yes |
| 🔮 Futures Trading | No | ⚪️ Spot Trading | Yes |
| ⭕️ Coins: | 19 | 🔀 Pairs: | 250 |
Bithumb Global is ideal for new traders entering the cryptocurrency market and does not prohibit US-traders from using the exchange.
| Pros | Cons |
|---|---|
| Bithumb offers traders 19 coins and 250 pairs. | Not regulated by the FCA |
| Bithumb permits access to US traders |
Bithumb is a South Korea-based cryptocurrency exchange platform founded by Javier Sim in 2014. Its headquarters is currently in Seoul, Seoul-t’ukpyolsi, South Korea.
Crypto on Bithumb
Crypto Verification
Bithumb only requires identity verification for cryptocurrency trading.
| What's Needed | |||
|---|---|---|---|
| 🛂 Documents | Passport, Driving Licence, Bank Statement | 🕖 Verification Duration | 1-3 days |
Crypto Deposits
Bithumb Global does not charge traders a deposit fee.
| Buying In | |
|---|---|
| Crypto/Coins | Free |
Crypto Withdrawals
Internal withdrawals are free, however external withdrawals do incur a fee. This fee differs from asset to asset.
| Cashing Out | |
|---|---|
| Crypto/Coins | Free |
Fiat on Bithumb
Fiat Verification
Before using the Bithumb platform to start buying fiat digital assets, traders must verify the information.
This includes:
- ID document
- Bank statement
- Proof of address/utility bill
| What's Needed | |||
|---|---|---|---|
| 🛂 Documents | Driving Licence, Utility Bill, Bank Statement | 🕖 Verification Duration | 1 day |
Fiat Deposits
All fiat deposits are free.
| Buying In | |||
|---|---|---|---|
| Debit Card | Free | Credit Card | Free | Bank Transfer | Free |
Fiat Withdrawals
The withdrawal fee varies, depending which fiat currency you choose.
| Cashing Out | |||
|---|---|---|---|
| Debit Card | Varies from Free/Fixed Fee | Credit Card | Varies from Free/Fixed Fee | Bank Transfer | Varies from Free/Fixed Fee |
Bithumb Fees
Bithumb trading fees are commission structured. The basic commission fee(maker/taker) is 0.25%. Traders who have a discount coupon are liable to a commission fee of 0.04%-0.25%.
Bithumb Features
Spot Trading
When it comes to spot trading on Bithumb, you can select standard or advanced trading. Standard spot trading is usually recommended for beginners. Traders can prepare spot trades in advance to trigger when a specific spot price is reached. However, in order to protect trader’s interest and prevent sudden fluctuations in price, Bithumb has now adopted a price amplitude filter and adjusted the orders price of Spot Trading to:
- Maximum price： 300% of the current market price
- Minimum price： 20% of the current market price
Margin Trading
The Bithumb margin trading service supports BTC/USDT and ETH/USDT trading pairs, and up to 5x leverage.
OTC Trading
In order to service institutional clients, Bithumb permits OTC trading. It has branded its OTC trading as Ortus.
Ortus conducts block deals and provides service as a matchmaker for institutional clients
Peer-to Peer Trading
Traders can choose between 19 to buy and sell directly to other traders without using a third-party or intermediary.
Referral Program
Bithumb has a referral program. Here’s how it works:
- After other traders accept your invitation and complete the registration, you can get the corresponding percentage of referral commission for each real transaction fee generated by the user in the platform.
- Traders who are not invited to register can fill in the invitation code on the individual invitation referral commission page within 72 hours after successful registration.
- The referral commission will be returned to your account in the form of actual token. Traders who invite friends directly will get a 30% commission, while Traders who invite indirectly will get 10% commission.
- Traders who accept the invitation will get a 10% commission of the transaction fees.
Integrated Wallet
Bithumb does have a digital wallet for traders to use, as well as a multi-signature cold wallet.
Mobile App
Traders can download the Bithumb mobile app. It is available on IOS and Android.
Customer Support
There is a 24/hour customer service department available to traders. Bithumb has also added an extra support page where traders are allowed to enter their queries into a search bar.
Bithumb Safety
CER Cyber Security Score (CSS)
8.37/10
CSS is an industry benchmark assessment of the cybersecurity characteristics of a given exchange. It consists of three weighted components: application-level security, SSL/TLS connection, and domain security. CSS uses over 18 indicators, based on the best practices of cybersecurity protection.
Cold Storage
Bithumb does support a Cold wallet. Cold wallets have no connection to the Internet. Instead, they use a physical medium to store the keys offline. As a way to protect the traders funds, Bithumb only holds a small percentage of its coins in hot wallets. The remainder is kept in cold storage.
Two-Factor Authentication
Bithumb has a two-factor authorization process. In order to make withdrawals from your Bithumb account, you are required to set up two-factor authentication. Each time you sign in you authentication will be required.
Bithumb FAQs
Is Bithumb Global Safe?
Yes. Bithumb Global is protected by 2FA and has an advanced cold storage system.
Does Bithumb Global Support Fiat Currencies?
Yes. Bithumb Global makes it easy for you to buy crypto using US Dollars, Euros, Pound Sterling, and other fiat currencies.
Can You Short on Bithumb Global?
Yes. Bithumb Global permits the use of smart tokens. These tokens are cryptocurrency-pinned stable coins used for specific trading purposes. The introduction of these unique financial instruments makes it possible to short Bitcoin.
