Bithumb Review 2023
Bithumb is a leading cryptocurrency exchange and trading platform. They support 212 coins across 221 markets.
In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.
Bithumb was built by Kang Jong-hyun in 2014, and has been in operation since.
The exchange is based in South Korea, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.
- Spot Trading. Bithumb allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.
- Trading Bots. Bithumb has trading bots that you can use to automate your trading strategies.
- Staking. Bithumb allows you to stake your crypto and earn passive income.
Bithumb Payment Methods
Bithumb supports 2 payment method(s). You can use the following the deposit/withdraw to/from the exchange.
- Credit/Debit Card
- Bank Transfer
Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.
Bithumb supports over 1 fiat currencies: KRW.
Bithumb offers 2 layer(s) of security. Aside from the obvious, email and password.
Bithumb requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.
Like other centralized exchanges, Bithumb charges fees. This is how they generate revenue, and keep their operation running.
- Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
- Withdrawal fees. Bithumb charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by Bithumb.
- Kraken's maker fees: 0.25%*
- Kraken's Taker fees: 0.25%*
Maker/taker fees are tiered. As you trade more and generate volume, they often fall.