Bithumb is based in Seoul, South Korea. Founded in 2013, it’s owned and operated by a company called BTC Korea.Com Co. Ltd. The Bloomberg profile for the company mentions no executives, board members, or other data about the company. This exchange allows its users to purchase, sell and store Bitcoin and a wide range of other cryptocurrencies.
It’s lately been fighting a war with Upbit for the title of Korea’s number one cryptocurrency exchange. Its daily trade volumes almost on a regular basis go over a billion dollars in value, placing this exchange among the top 10 worlds exchanges volume-clever. Lately a report came out suggesting that the amount of 24-hour transactions on Bithumb stood at 3.48 trillion won & the figure reached 8.4 trillion won when along with Upbit.
Registering for Bithumb
The internet site offers potential users two ways to register with Bithumb, either as a person or as a corporation.
Bithumb enables for trading with the Korean Won (KRW). On this exchange you can buy 12 different cryptocurrencies, as well as the cryptos/trading pairs available are: Ripple (XRP/KRW), EOS (EOS/KRW) etc.
As with all Korean programs, Bithumb is subject to a lawful overwatch from the South Korea Financial Services Commission (FSC), Korean Fair Trade Commission (KFTC), the National Tax Service (Korean IRS) and the police.
Bithumb’s fees are extremely competitive. They’re the reason why this market is clocking in top 10 daily volume numbers. Nevertheless there’s a down-side, as you basically have to purchase Korean Won first if you would like to trade fiat currency on this market. Creating a deposit on Bithumb, in either Korean won or at a crypto such as Bitcoin or Ethereum, is free.
Likewise to the vast majority of cryptocurrency exchanges, Bithumb doesn’t provide leveraged trading in accessible tokens, but only place trading. This may make it somewhat unattractive for more serious investors.
Cryptocurrency exchanges often vary with regards to supplying useful and speedy client service. Bithumb additionally walks this thin line although they record a 24/7 customer service service on their site.