Bithumb review

Bithumb is the best cryptocurrency exchange in South Korea, as about 75% of Korean traders use it. Where is Bithumb located? The platform is located in Seoul and belongs to BTC Korea.com Co. Ltd. Very interesting fact that the management of the exchange is unknown, although the stock exchange is very popular.

The official website of the Bithumb exchange is www.bithumb.com. It is available in 6 languages:

Bithumb review

The exchange allows you to trade cryptocurrencies for South Korean wons (KRW). Bithumb reviews the following tokens:

  • Bitcoin;
  • Ripple;
  • Bitcoin Cash;
  • Ethereum Classic;
  • Ethereum;
  • Dash;
  • Monero;
  • Litecoin;
  • Qtum;
  • Zcash.

You can deposit on the “Remittance” tab. For the first withdrawal, there is a delay of 72 hours. Such conditions were made in order to prevent theft of users’ resources. When you make deposit or withdrawal there are no Bithumb fees.

is bithumb safe

Is Bithumb safe?

There were troubles that cause the information about a Bithumb scam. In the summer of 2017, a hacker attack was made on the exchange. They stole several billions of KRW. Hackers also stole personal data from over 30,000 users (about 3% of the entire database). But lately, Bithumb published that the leak of information didn’t come from the exchange but directly from the employee’s PC. As a result, Bithumb appealed for support to the guards of the law and promised to return all the losses.

Fortunately, the reputation of the exchange wasn’t hard damaged. In less than a month, the platform once again took a place in the top of exchanges in terms of the 24-hour turnover of funds. In practice, you can see that new currencies grow at price very fast, as soon as they appear on the service list.

Following this unpleasant incident in the same summer, the exchange created an offline customer support center where anyone could personally receive free 24/7 consulting. So is Bithumb safe? This is the first service of this kind among the crypto exchanges, which proves that you should not suspect Bithumb fraud.

Bithumb exchange

Registration on this service isn’t the simplest. From the very beginning, you need to enter a lot of information, then, get Bithumb verification of your phone number. You need to fill out the following fields:

bithumb exchange

Next, you need to confirm all the information in the relevant documents. To begin with, you must provide a photo or a scan of the passport by e-mail. Verification will give you the opportunity to fully use the stock exchange, but with some limits on deposit and withdrawal of funds. If you want to increase them, you need to confirm your residence with the help of utility bills.

The Bithumb fees are 0.15%. To reduce it you will be able to use special promotional coupons, which will make it 0.075% and lower.

Summing up this Bithumb review 2018, we would like to note the pros and cons of this exchange.

This exchange has rather a good service. It indicates that it has enough merits compared with the shortcomings that allowed it to become famous and this Bithumb review agrees with it.

PROS
  • High liquidity;
  • Low commission fees;
  • A rigorous approach to security;
  • On the site there are the most popular cryptocurrencies;
  • Operational and competent technical support;
  • Ability to create different types of accounts - for individuals and corporate;
  • Nice Bithumb API;
  • Available offline centers.
CONS
  • It works with South Korean won (KRW);
  • Exchange mostly has been created for users from South Korea.
  • The exchange does not work with little-known coins.
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