|Top Country||South Korea|
Bithumb (bithumb.com) - REVIEW, TRADING VOLUME AND PAIRS
This Bithumb South Korean cryptocurrency exchange was established back in 2015. The company is registered in Seoul, however, to this very day, almost no one knows who the head of the crypto-exchange is. The bithumb.com official website was translated into 3 languages – English, Korean, and Chinese. The project itself is primarily focused on the Korean audience, as evidenced by the fact that the trading is tied to the national currency of Korea – the South Korean won (KRW).
Since the summer of 2017, when the exchange was experiencing a huge and successful cyber attack, resulting in losses of billions of won, all investors have been are cautiously eyeing the Bithumb platform since hackers stole not only money but also users' data, for which the crypto community reacted adversely. It is fair to say that it was not the exchange itself that was hacked, but the PC of one of the key employees of the company. However, it was a huge blunder, and the platform indemnified customers for their losses by initiating the opening of a criminal case to search for intruders. Curiously, a couple of weeks later, the volume of trading on the exchange was absolutely the same as before, and lots of customers continued using the services of the Bithumb platform as if the cyberattack did not happen at all.
To go to the trading section, you need to click on the "Exchange" menu on the top. There are also such menu items as Bithumb Cash, "Additional services", and "Customer Support".
The trader's cabinet looks quite the same as on every other exchange: on the left, there are currency pairs and the trading history, and in the center is a price chart, a list of recent transactions and the form for opening orders to buy/sell cryptocurrency. On the right, you can find something like a trade blotter, where the maximum purchase price and the minimum sale are shown.
At the underpart of the website are Bithumb's contact details, the company information, and a menu block dedicated to customer support. Here, the developers have also placed links to social networks. Generally, the interface can be considered to be laconic and plain, without any unnecessary and bizarre things.
The main advantages of the exchange
Among the primary benefits of the Bithumb project customers note:
• High level of security. The project developers report about the unprecedented security achieved due to the unique architecture of the exchange.
• The presence of popular cryptocurrencies. On the Bithumb exchange, you will find almost any popular coin, as well as some unpopular altcoins.
• Moderate trading commission fee, which is 0.25%. The platform also doesn't charge fees for deposit/withdrawal of money.
• Operational work of Customer support. Support service specialists almost immediately respond to the customer's request and solve the problem within a short timeframe.
• Offline user support. Bithumb is one of the few websites that have an open office for customers.
• The trustworthiness of the website in the market. It has been repeatedly observed that rumors about the imminent placement of the coin on the platform provoked a sharp rise in the price of the coin.
The main disadvantages of the exchange
Among the main cons of Bithumb crypto-market experts note:
• Focus on the Asian market;
• Only Korean won is available among the fiat currencies;
• A limited selection of rare altcoins;
• Complex verification procedure.
Bithumb is a quite large and dynamic trading platform that has earned the trust of customers from East Asia and has become the largest South Korean exchange in the world. It is protected and time-proved, with an impeccable business reputation and competent staff. As for the negative aspects, we can note that the exchange owner remains unknown to the public, and the commission fees charged on trading transactions are still above average. At the same time, the exchange confidently holds a competitive position in the market, guaranteeing customers a reliable and secure exchange of digital assets.