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Cryptocurrency exchange Bithumb

23 July 2018

Bithumb is the largest South Korean cryptocurrency exchange. It is not specifically regulated, but presumably, like all platforms operating from within the country, is subject to some oversight from the South Korean Financial Services Commission (FSC). In addition to the spot trading service, Bithumb also provides the money transfer service (for Bitcoins and wons) and an e-wallet for cryptocurrency storage.
Like most cryptocurrency exchanges for spot trading, Bithumb sticks to basics and its trading platform does not have any redundant bells and whistles.

The platform offers three trading options: general trade, easy trade and reserved trade. The general trade is self-explanatory. The easy trade provides the automatic transactions with pre-ordered amount with real time price. Purchase is made in the order from the lower sell amount, and it can change with real time transaction value. The reserved trade places an order at the market price as per the amount the client has requested at the reserved base price.

As per the local regulations, Bithumb works with fiat currency payments only though a bank account. The deposit is free of charge, while the withdrawal comes with a 1000 won fee. Deposits in cryptocurrencies are free and withdrawals are with a fee of 0.01 ether, dash, litecoin, ether classic and ripple, or 0.0005 bitcoins.

Official site

Company Launch: 2015
Company Location: South Korea
Languages: English, Korean, Japanese, Chinese, Spanish, Hindi
Crypto Currencies: 37
Trading volumes: $1 075 837 561 (July, 2018)
Available on: Web

Pros Cons
Large exchange Accepts wons only as fiat currency
Several types of orders Limited funding options
Very low trading fees Has been hacked
Serves mostly South Korean clients

 

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