What is Bithumb?
Bithumb is a South Korean digital currency trade established in 2013 and has since become one of the world’s biggest cryptographic money trades with regard to exchanging volume. Bithumb supports Bitcoin, Ethereum, Litecoin, and KRW (Korean Won). Additionally, trading activities accessible on the trade are margin and over-the-counter trading.
Where is Bithumb based?
Bithumb’s headquarters is situated in South Korea. It is situated in Gangnam, the most crowded area in Seoul, which likewise is the capital and biggest city of South Korea.
Who created Bithumb?
It is found by a South Korean enterprise named BTC Korea.com Co. Ltd. was the organizer behind Bithumb. This organization was established in 2013.
How to pronounce Bithumb
Bithumb, however, sounds hard to pronounce to some and ought to be articulated as “bithum(bit’THem),” which is a mix of the words “bit” and “thumb.”
Who owns Bithumb?
BTC Korea.com Co. Ltd., a South Korean firm, claims Bithumb. In 2020, the controlling possession of Bithumb said to sell 50 stake to Singapore-based BK Global Consortium, overseen by Byung Weapon Kim, for USD 400 million.
What is Bithumb Global?
Bithumb Global (BitGlobal) is a Seychelles-enrolled Korean worldwide bitcoin exchanging platform. It was established in May 2019, changed its name to BitGlobal in 2021, and has since developed to become one of the world’s biggest digital currency trades. The service is a computerized monetary system that offers organizing, marking, and C2C administrations.
Taking everything into account, Bithumb Global USA grants US customers to exchange cryptographic money. In any case, Bithumb Global accepts California, Texas, and Washington residents.
Is Bithumb legit?
Starting around 2013, Bithumb has been a legitimate cryptographic exchange. It’s South Korea’s biggest and most reliable. Cold storage, SSL encryption, and SMS authentication safeguard Bithumb clients’ resources.
Like any trade, Bithumb has experienced security issues, including a 2017 break that lost billions of won. South Korean guidelines constrained Bithumb’s deal with a Singaporean organization.
Is Bithumb safe?
The biggest and most well-known bitcoin trade in South Korea, Bithumb, is completely protected. Cold storage, SSL encryption, and SMS confirmation safeguard trade clients’ resources. Bithumb’s consistency group tracks dubious movement and keenly observes AML and KYC guidelines.
Pros and Cons of Bithumb
Pros 👍
- High trading volumes and liquidity: Bithumb being one of South Korea’s top cryptographic money trades, brokers can trade coins quickly and reasonably.
- Ample trading opportunities: Bithumb acknowledges a different scope of digital currencies, including Bitcoin, Ethereum, Litecoin, and others. Margin trading, staking, and other exchanging tools are accessible on the trade.
- Reputation: Bithumb has been around for around six years and has laid out a regarded name for itself. Numerous traders consider it a reliable trade due to its strong security record.
Cons 👎
- Restricted reach: Bithumb is a South Korean trade, so it might be accessible only in certain countries.
- Client support: Bithumb should be perceived as having an astoundingly responsive client assistance group. A few consumers have complained about waiting times for help and challenges tending to their interests.
- Guidelines: Bithumb Worldwide USA is only accessible in specific states in the US, and each state has decisions that might influence users and traders.
All things considered, Bithumb is a well-recognized exchange with an enormous trading volume and various outcomes. Regardless, it has specific downsides, for example, security concerns, poor customer service, and geographic restrictions.
Bithumb How-to
This section is for newbies to the Bithumb crypto exchange. We will go through the following step-by-step how-tos.
- How to buy
- How to trade
- How to withdraw
- How to transfer from Coinbase to Bithumb
- How to stake
- How to transfer Ethereum from Bithumb to MetaMask
- How to buy MBX on Bithumb
- How to buy SHIB on Bithumb
So, Hang on, and let’s try!
How to buy on Bithumb
Step 1: Account and Confirm
To set up an account, go to the Bithumb site and the “Sign up” page. Enter your data, including your name, email address, and phone number. You should supply a duplicate of your official documents, like identification or driver’s permit, as well as a reasonable photograph of yourself, as a condition for the KYC (Know Your Customer) policy.
Step 2: Payment Method
You should initially add a payment technique before buying digital currencies on Bithumb. Bithumb, as of now, supports bank transfer deposits in KRW (South Korean Won). You can store KRW in your Bithumb account whenever you enter your financial balance details.
Step 3: Purchase
Explore the “Purchase/Sell” page and pick the cryptocurrency you wish to buy. Enter how much KRW you wish to spend and press the “Purchase” button. Your buy will be complete once the exchange is approved on the blockchain.
How to trade on Bithumb
- To exchange on Bithumb, sign in with your email address. After signing in, pick your digital currency from the “Trade” page. The trade offers a few coins. After choosing a digital currency, pick an exchanging pair. Exchanging matches incorporate digital money and cash.
- You can trade cryptographic forms of money by picking an exchanging pair. Market or cutoff orders are accessible. A market order trades cryptocurrency at the ongoing market price, unlike a limit order.
- After putting in a request, click “Orders,” where your order’s status will be shown. You can move your cryptocurrency assets to a wallet.
How to withdraw from Bithumb
- To withdraw from Bithumb, enter your email address and password. After signing in, go to “Withdrawal”. This page will show all digital currencies that can be withdrawn.
- Select Bithumb cash. Enter the sum to be withdrawn and the wallet address to which it ought to be sent.
- After approval, you can successfully withdraw. The blockchain network of the crypto money you pull out from decides what time funds require to get to your wallet.
- Assuming that you wish to sell on Bithumb, go to the trading page rather than the withdrawal page and pick the exchanging pair.
How to transfer from Coinbase to Bithumb
- Sign into Coinbase to send bitcoin to Bithumb.
- Pick a Coinbase currency to transfer. You should make reference to the amount and Bithumb wallet address to send the money.
- Transferring funds to your Bithumb wallet relies upon the cryptocurrency’s blockchain network. Purchases require a confirmation number shipped off your email or telephone.
- After the approval is finished, the transaction starts.
How to stake on Bithumb
- Bithumb registration requires individual data and a solid password. To verify your email address, click the sent inbox link, then move to the “Verification” page to upload your official identification documents.
- After confirming your verification, go to the “Deposit” page, pick the coin you wish to store, and follow the steps given ahead. Stake a coin on the “Staking” page. Click “Stake” to affirm staking.
You’ll then get the same currency back as incentives after staking. You can track your stacked coins and payments on the “Staking” tab.
How to transfer ETH from Bithumb to Metamask
- Sign in to Bithumb to send ETH to Metamask.
- Visit “Withdrawal” after signing in and enter the withdrawal sum for Ethereum.
- Send cash to your Metamask wallet’s Ethereum address.
- Confirm the address to keep away from botches. Purchases require a confirmation number shipped off your email or telephone.
After approval of the exchange, you are eligible for withdrawal. The Ethereum network decides the amount of time required to communicate assets to your Metamask wallet.
How to buy MBX on Bithumb
- To buy MBX on Bithumb, you should initially sign in to your Bithumb account. Sign in to the exchanging page, select MBX, and enter your ideal amount.
- Select a market or limit order, then enter the price you need to purchase MBX. When you put in your request, it is added to the order book and coordinated with a current sell request. Market variables will influence your purchase occupy time.
- MBX isn’t generally exchanged and may not be accessible on Bithumb or different trades. To guarantee accessibility, check Bithumb and other trade exchanging pairings.
How to buy Shiba Inu on Bithumb
- Sign up on Bithumb’s site. Register and create your account, and verify your official documents such as photo ID card and passport, for identification purposes. This process may take a few days to complete your verification for security purposes.
- After the ID check, go to “Deposit”. You can then deposit KRW, for instance (South Korean Won). From “Exchange,” pick SHIB/KRW. Enter the SHIB or KRW you wish to purchase, then confirm your request.
What coins does Bithumb support?
Bithumb supports Bitcoin, Ethereum, Waves, Litecoin, and others. Bithumb additionally sells Bitcoin Cash (BCH), EOS, Stellar (XLM), Cardano (ADA) and Dash (DASH). Bithumb also acknowledges less popular digital cryptocurrencies, including Shiba Inu (SHIB), ICON (ICX), and Ethereum-based tokens.
Bithumb might add or remove cryptographic forms of money in view of market interest and different elements. For the most recent data on supported digital currencies, you can always visit Bithumb’s site.
Bithumb XRP price
Like all cryptographic forms of money, Bithumb XRP is volatile and fluctuates. As of January 2023, Bithumb XRP/KRW is $516.30, up 1%. 0 exchanges complete $27.47M, down 14%. (66.89M XRP). Four additional trades exchange XRP/KRW, with Upbit, Bithumb, Coinone, Korbit, and GoPax being the most dynamic (by volume).
What is Bithumb ICX
Bithumb ICX is ICX (ICONl) exchange on Bithumb. ICX is the local badge of the decentralized Symbol blockchain, which upholds a few blockchain networks. These groups might cooperate and foster inner administration structures utilizing smart contracts.
Bithumb trades ICX and other computerized resources. Bithumb also permits ICX-KRW and other cryptographic money exchanges.
What is ICX
ICX is the currency used for ICON. ICON oversees different blockchain networks decentralized. Innovative agreements let these networks administer themselves and convey. The ICON environment utilizes ICX to pay exchange charges and decisions on administration choices. Bithumb and other cryptographic money trades sell and store ICX.
ICON is looking to construct a blockchain network for cross-bunch correspondence and worth trade for monetary elements, states, instructive associations, and others.
ICX was released as an ERC-20 token on the Ethereum network in 2017 by the circle and DAYLI Monetary Firm, a South Korean blockchain improvement firm. The ICON group assembled its blockchain in 2018.
What is Bithumb API
The Bithumb API is a bunch of programming instructions that help programmers access and concentrate information from Bithumb’s cryptographic money organization. It permits clients to make applications that can speak with the stage to get a large number of information, for example, exchanging volumes and market costs. Essentially, it’s a method for engineers to get to and use Bithumb’s information in their projects.
Bithumb Review
Review and basic information of Bithumb are as follows.
| Crypto Exchange Basics | Bithumb |
|---|---|
| Official Name | Bithumb |
| Exchange Representative (Founder) | Back Young Heo |
| Headquarters Location | Seoul |
| Bithumb Launch Date | 2014-01 |
| Number of Tradable Crypto Pairs | 224 Pairs |
| Weekly Visits | 346,672 Users |
| Overall Rating | ⭐ 3.7 / 5.0 |
The rating result at the top is the result of Coin-Labs' overall evaluation of Bithumb.
Bithumb was rated in seven categories: fees, diversity and quality of the services provided, security capabilities, etc.
Bithumb Fee 2023
The fees charged to you for transactions at Bithumb are as follows.
| Maker/Taker Fees | Bithumb Transaction Fees |
|---|---|
| Spot Maker Fee | 0.25% |
| Spot Taker Fee | 0.25% |
| Derivatives Maker Fee | 서비스 제공 안함 |
| Derivatives Taker Fee | 서비스 제공 안함 |
The fees shown in the table above are Bithumb transaction fees charged to a regular user.
Bithumb Trading Volume
Trading Volumes of Bithumb are as follows. (Based on CoinMarketCap 2023-03-29 14:41:12 data)
| Trading Volume Items | Bithumb Trading Volume |
|---|---|
| Daily Trading Volume (24h) | 414,112,169,697 KRW |
| Weekly Trading Volume (7d) | 1,939,321,286,387 KRW |
| Monthly Trading Volume (30d) | 19,853,696,781,756 KRW |
| Daily Volume Change (24h) | -17.85% |
| Weekly Volume Change (7d) | -35.63% |
| Monthly Volume Change (30d) | 52.28% |
Communicate with Bithumb
You can check exchange's messenger and SNS information in the table below.
| Types | URL |
|---|---|
| https://twitter.com/BithumbOfficial | |
| 🎺 Messenger | https://t.me/BithumbExchange |
FAQs
Who founded Bithumb exchange?
Bithumb was founded in 2014 by Back Young Heo.
Where is Bithumb located?
Currently, Bithumb's headquarters is known to be located in the Seoul.
How many cryptocurrencies are tradable on Bithumb?
If you join Bithumb, you can trade a total of 224 crypto pairs.
How much is Bithumb trading fee?
Bithumb has a spot maker fee of 0.25% and a taker fee of 0.25%. On the other hand, the maker fee for futures trading is 제공 안함%, and the taker fee is 제공 안함%. Please note that these fees are for regular users, and the higher your membership level within Bithumb, the lower the fees.
How much is Bithumb trading volume 24h?
Bithumb's trading volume 24h is 414,112,169,697 KRW. Furthermore, the daily trading volume is showing a -17.85% change from the previous day.
How much is Bithumb weekly trading volume?
Bithumb's weekly trading volume is 1,939,321,286,387 KRW, with a total of 346,672 users. Furthermore, Bithumb's weekly trading volume is showing a change of -35.63% from the previous week.
How much is Bithumb monthly trading volume?
The monthly trading volume of Bithumb is 19,853,696,781,756 KRW. Furthermore, this month's trading volume is showing a change of 52.28% compared to the previous month.
