Bithumb

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.”

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

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

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.

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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.

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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 incorporates 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 transfer from Coinbase to Bithumb

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 to occupy the 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 a 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 decentralized blockchain networks. 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 allows 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	275 Pairs
Weekly Visits	357,015 Users
Overall Rating	⭐ 3.7 / 5.0

The rating result at the top is the result of Coin-Labs.com's 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	No Service Provided
Derivatives Taker Fee	No Service Provided

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 2023-12-03 14:41:12 data)

Trading Volume Items	Bithumb Trading Volume
Daily Trading Volume (24h)	643,152,019,643 KRW
Weekly Trading Volume (7d)	6,113,662,091,867 KRW
Monthly Trading Volume (30d)	21,058,166,837,880 KRW
Daily Volume Change (24h)	0.75%
Weekly Volume Change (7d)	-22.17%
Monthly Volume Change (30d)	-16.09%

Communicate with Bithumb

You can check exchange's messenger and SNS information in the table below.

Types	URL
🐦 Twitter	https://twitter.com/BithumbOfficial
🎺 Messenger	https://t.me/BithumbExchange

FAQs