Bithumb Global Exchange Review – Bithumb is one of the largest and most well-known cryptocurrency exchanges in the world today, but it has not always been so.
It was only founded in February of 2017 and has already proven itself as an integral part of the cryptocurrency exchange community.
Read on to find out more about Bithumb Global Exchange and how you can go about trading cryptocurrencies on their exchange platform.
What is Bithumb global?
Bithumb is a South Korean cryptocurrency exchange that was founded in 2013.
The exchange allows users to trade a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and more.
Bithumb also offers a number of unique features, such as margin trading and a mobile app.
However, the exchange has been plagued by hacks in recent years, which has led to some users losing faith in the platform.
In December 2017, a high-profile hack left almost 30% of all coins traded on the platform stolen.
A second attack occurred in April 2018, with hackers stealing about $13 million worth of cryptocurrencies from company wallets.
While these incidents are not ideal for traders who want to invest their money securely, there are many things about Bithumb global that can make it an attractive option for beginners and experts alike.
Below we have listed the pros and cons of using this exchange
The most obvious pro for Bithumb is its popularity among virtual currency traders.
Many investors in South Korea use Bithumb regularly due to its large selection of supported coins, low transaction fees, and competitive rates for traders looking to place bets through margin or leveraged trading. Another major advantage comes from using a diverse selection of exchanges—often referred to as diversification—which can help reduce risk.
If you had invested in just one coin when Bitcoin hit an all-time high at the end of 2017, you would have missed out on huge gains made by other currencies during that time frame because they performed so well while BTC skyrocketed over $20,000 USD per token.
Is Bithumb global legit?
It is one of the largest exchanges in the world with over $1 billion in daily trading volume.
Bithumb offers a wide range of coins, including major ones like Bitcoin, Ethereum, Litecoin, and Ripple.
It also has a very user-friendly interface.
However, there have been some concerns about the security of the exchange, as it has been hacked in the past. Overall, Bithumb is a reliable and popular option for those looking to trade cryptocurrencies.
There are many pros such as its large selection of coins, ease of use, high trading volume, and customer service.
There are some cons such as the possibility of being hacked or experiencing downtime due to heavy traffic.
Additionally, Bithumb only allows users to make deposits through wire transfers or cash deposits which may be difficult for some users.
Additionally, the fees can be quite high depending on what type of coin you are purchasing.
For example, buying Bitcoin will cost you 0% commission but it would cost 0.25% commission if you were purchasing Ethereum (ETH).
The withdrawal fee ranges from 0% to 2%. All-in-all, Bithumb is a great global exchange but may not be the best fit for everyone.
Can I use Bithumb Global in USA?
While Bithumb is a South Korean based exchange, it is available for use in the United States.
However, there are some things to be aware of before using the platform. First, the user interface is only available in Korean.
This can be a problem for those who do not speak the language and may deter some from using the exchange.
Second, there have been reports of security breaches in the past.
While the exchange has implemented new security measures since then, it is something to be aware of.
Overall, Bithumb is a safe and reliable option for those looking to trade cryptocurrencies.
It offers both a mobile app and web-based platform which is convenient for traders no matter where they are. In addition, deposits and withdrawals are quick with transaction times ranging from 2 minutes to 6 hours depending on what you choose.
Bithumb also supports various fiat currencies including USD, EUR, KRW, JPY and CNY so trading can take place in your own currency as well as others around the world.
bithumb exchange
Overall, Bithumb is a decent exchange.
The fees are reasonable, the platform is user-friendly, and there’s a good selection of coins available. However, the customer service leaves something to be desired and there have been a few security breaches in the past.
Overall, if you’re looking for a decent place to trade cryptocurrencies, Bithumb is worth considering.
You’ll pay some pretty hefty fees (in comparison to other exchanges), but it’s easy enough to use and has a lot of options for buying altcoins.
But don’t expect great customer service or fast withdrawals, because that’s not what you’re going to get here.
bithumb deposit
- Before you can start trading on Bithumb, you must first deposit cryptocurrency into your account.
- To do this, you’ll need to generate a deposit address for the specific coin you want to deposit.
- Once you have this address, you can send your coins from your personal wallet to your Bithumb account.
- When sending cryptocurrency to Bithumb, be sure to double check the address and send the correct amount.
- You should also verify that the transaction is confirmed on the blockchain before considering it complete.
bithumb global fees
Overall, the fees charged by Bithumb are very reasonable.
For spot trading, the maker fee is 0.15% and the taker fee is 0.2%. These are both lower than the industry average.
For margin trading, the interest rate is 0.02% per day. This is also quite low when compared to other exchanges.
Deposit and withdrawal fees are also very reasonable, with a 0.005 BTC fee for withdrawals and no fees for deposits.
Overall, the fees charged by Bithumb are very reasonable and make it a great option for those looking to trade cryptocurrencies.
bithumb withdrawal fees
Bithumb is a global cryptocurrency exchange that allows users to trade digital assets including Bitcoin, Ethereum, Litecoin, and more.
One thing to note is that Bithumb has high withdrawal fees. For example,
if you were to withdraw 1 BTC, you would be charged a fee of 0.005 BTC.
That being said, let’s take a look at the pros and cons of trading on Bithumb.
Can you withdraw from Bithumb?
The short answer is yes, you can withdraw from Bithumb. However, there are a few things to keep in mind before doing so.
First, Bithumb is a Korean exchange, so all prices are denominated in Korean Won (KRW).
This means that if you’re trading with another currency, you’ll need to convert it to KRW first.
Second, withdrawal fees vary depending on the method used. For example, withdrawing via bank transfer will incur a fee of 0.005% (min. KRW 1,000), while withdrawing via cryptocurrency will have a flat fee of 0.001 BTC/ETH/DASH/LTC. Finally,
if you want to withdraw more than USD 100,000 per day or USD 200,000 per month (or equivalent in other currencies) from your account, you must submit your request at least five days in advance. If you try to withdraw without prior notice, your withdrawal may be blocked by the system.
