|Bithumb is the largest South Korean cryptocurrency exchange by volume and is among the global leaders. Reports of South Korean media estimate that Bithumb holds over 75% of the country’s bitcoin market volume.|
|Volume 24h||$741 986 918|
|Updated||Wednesday, April 27, 2022 12:01:02PM UTC|
Bithumb facts, technical details and Bithumb information
Bithumb is the largest South Korean cryptocurrency exchange by volume and is among the global leaders. Reports of South Korean media estimate that Bithumb holds over 75% of the country’s bitcoin market volume, and around 10% of the global trade. Bithumb also holds around 50% of South Korea’s Ether trading volume and is in practice the largest Ether exchange in the world.
Bithumb is a company that creates the future of a more convenient and more trustworthy digital finance platform through endless innovation.
In addition to Bitcoin, the exchange offers several of the most popular cryptocurrencies: Ether, Dash, Ether Classic, Litecoin, Dash, Ripple, Bitcoin Cash, Monero, Zcash, Qtum against the South Korean Won. The instrument list ranks it among the platforms with wider portfolios like Coincheck, Bisq, Bitfinex, Bitstamp and Kraken.
Bithumb enjoys overwhelming recognition amongst the digital asset exchanges along with high customer loyalty. Growing continuously with the increasing interest in digital assets, blockchains, and FinTech, Bithumb's daily maximum transaction amount has exceeded KRW 6.5 trillion, and the monthly maximum has exceeded KRW 113 trillion.
Through the competitiveness based on abundant liquidity, safe transactions, and transparent operations, Bithumb has the most members amongst Korean exchanges.
Similarly to the majority of cryptocurrency exchanges, Bithumb does not offer leveraged trading in the tokens, but only spot trading. There are some platforms, like Kraken, GDAX, Okex, Quoinex and Bitfinex who provide the option for trading on margin. There are also a growing number of forex brokers like IG, HYCM, easyMarketsand FXTM, who offer leveraged trading on CFDs on some of the more popular cryptocurrencies.
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). Additionally, it may be subjected to on-site inspections by representatives of the Korean Fair Trade Commission (KFTC), the National Tax Service (Korean IRS) and the police.
Recently the FSC banned the initial coin offerings (ICOs) in order to safeguard inexperienced investors from potential MLM and Ponzi Schemes, but maintained that the cryptocurrencies are electronic representations of value and not financial products such as securities. The FSC, however, keeps an eye on the platforms and the currency flow through the banks. For the time being cryptocurrencies can be traded on an exchange only if a bank has confirmed the authorization of an account.
According to media reports, in the summer of 2017, Bithumb was subject to a hacker attack. The company maintained that it was not its servers attacked, but the computer of one of its employees. From there the hackers stole the personal data and passwords of nearly 31 800 or 3% of the users and stole 1.2 billion won (a little over $1 million) in altcoins and fiat currencies.
Bithumb is making a collective effort for the protection of customer assets by constructing a data security system at the top level in the industry. Regulation that recommends that 5% of all personnel in the financial institution be IT specialists, 5% of IT personnel be data security exclusive personnel, and 7% of the total budget be used for data protection.
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.
As most cryptocurrency exchanges, Bithumb requires some customer verification, particularly before processing withdrawal requests. 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.
Bithumb is operating the largest customer support center in the industry. Through the center, Bithumb has increased the point of contact for communication with customers and provides faster and more professional customer support center services. We are also increasing our efforts for employment security and various employee benefits to increase customer support agent's self-esteem and sense of belonging.
Bithumb operates the largest customer support center in the industry with 'customer-focused' service as its motto. 24/7 standby agents conduct support activities swiftly and accurately within the 2,900 m² customer support center. The service provided is excellent compared to not only other digital asset exchanges but other general financial institutions as well. The centers provide foreign language (English, Chinese, Japanese etc.) customer support as well as faster and specialized services for VIP customers.
Bithumb operates the first off-line customer support center in the industry for Korea, providing 1-on-1 personalized customer support services. Gangnam center provides professional services including instructions in using the Bithumb exchange, digital asset transactions, information on real-name transaction systems, and plans to cope with financial damages. There are foreigner-specialized agents as well as VIP customer exclusive areas in the off-line customer support centers.
* Crypto Rating accepts no liability for any errors in the Bithumb information and Bithumb trade volume. For the most up-to-date prices please visit the Bithumb's official website.
|#||Exchange||Founded||Rate||Coins||Volume 24h||Change 24h|
|1||Binance||2017||4.7||341||85 756 472 788||16.06%|
|2||Kraken||2011||4.5||62||1 142 715 309||28.70%|
|3||Bitfinex||2012||4.4||146||978 819 336||-9.20%|
|4||KuCoin||2017||4.2||282||8 060 549 816||24.53%|
|5||Indodax||2019||3.8||157||33 198 028||-5.74%|
|6||WazirX||2018||3.4||176||29 385 566||-22.41%|
|7||Paribu||2017||3.1||51||145 013 619||-31.78%|
|8||OKEx||2014||3.6||242||20 324 410 065||16.18%|
|9||Bybit||2018||3.5||97||13 164 479 386||31.11%|
|10||FTX||2019||1.7||192||11 002 802 152||17.90%|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.