Bithumb Global exchange, a third-party exchange for buying, selling, and trading digital assets, is based in South Korea, established in 2013 by a company known as BTC Korea.Com.Co. Ltd. It is centered more on customers from Korea, and the only fiat currency supported in the exchange is South Korean Won (KRW). The exchange supports Bitcoin as its major digital asset for trade and other selected altcoins. Bithumb Global exchange is the most renowned exchange platform in Korea, achieving the highest trading volume of any cryptocurrency exchange in the country. Apart from native Korean, the platform’s website translates to other languages such as English, Japanese, Chinese, Hindi, and Spanish.

One of the reasons for Bithumb’s success is the platform supporting accounts for institutional investors. This helped to ensure that there is enough liquidity in the market to trade. The platform is web-based and it is user-friendly, perfect for beginner traders, and hassle-free. 

There is 3 trading options mode; easy trade, general trade, and reserved trade, these offers to traders a space for a decision on how they trade their cryptocurrencies on the platform.

Cryptocurrencies supported in Bithumb Global Exchange

Currently, the following cryptocurrencies can be used to trade on the exchange platform:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Bitcoin Gold (BTG)
• Dash (DASH)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Monero (XMR)
• Qtum (QTUM)
• Ripple (XRP)
• Zcash (ZEC)

Signing up 

• Visit the Bithumb website
• Click on the Sign-up button
• You will be required to supply some fundamental information 
• Enter your email address
• Click on check duplicate
• Verify you are not a robot by ticking a box for it
• Enter your nationality
• To finish registration, please provide your telephone number.
• Click on SMS request afterward
• A 6-digit code will be sent to you as an SMS text
• Enter the code into the cellphone verification box
• Enter your personal information such as full name, and home address
• Create a strong password with 8 to 12 characters long
• Retype the password below to confirm it
• Additionally, generate a 4-digit PIN for transactions
• Tick on the two terms and condition box to accept Bithumb’s terms 
• After entering the information, click the Subscribe button.
• Please click the link within the confirmation email that will be delivered to your inbox.

Classed in Level 1, you can trade immediately without doing anything further, though to trade a larger amount, you need to upgrade your account to the next level. This requires uploading your passport, and proof of residency.

Payment method

Bithumb has facilities to process fiat currency deposits and withdrawals, but it is available to residents of South Korea using KRW. Users from other countries deposit using a cryptocurrency instead. 

Newbies into crypto that do not have coins can use Coinbase, this allows users to register an account, deposit using a bank transfer or debit/credit card to purchase cryptocurrencies of choice, and transfer to Bithumb.

Bithumb fees for transactions

Fees for deposits are determined by the currencies funded in the account, some coins like Ethereum, Ripple, and EOS are free, while others like Bitcoin, Dash, and Litecoin require small fees.

Withdrawal fees also depend on the coin, this is shown on the website and it constantly keeps updating.

Bithumb trading fees according to their website is low in the cryptocurrency industry. The basic trading fee amount to 0.15% of the total amount traded.

Customer support

Bithumb offers one of the best support to its customers, their customers support representatives are available to users 24/7 and also give international support in English. To contact the support team, you can use either email or by calling directly on phone, the contact details are on the website.

Pros

• They have top-notch 24/7 customers support
• The fees are competitive
• High trading volume amounts to equilibrium high liquidity
• There is multi-lingual support for customers
• The trading platform’s user interface is intuitive.
• There is a wide selection of cryptocurrencies 

Cons

• South Korean Won is the solely available fiat currency
• There is no provision for cryptocurrency pairs
• There is doubt about the platform’s security