Today we will talk about the Bithumb. In this article, we will talk about how to open an account on the Bithumb, its merits demerits, public opinion, fees, and trading options and answers to frequently asked questions from user’s point of view. Bithumb is one of the South Korean cryptocurrency exchange, and it is also one of the largest exchange of the world concerning volume. Bithumb ranked among the top 10 biggest exchanges of the world regarding trading volume. Bithumb also offers low trading rates as compared to other exchanges. According to a survey Bithumb comprises 75.7% shares of South Korean Bitcoin market volume and 10% shares of the global Bitcoin market volume. Bithumb also holds the 50% South Korea’s Ether trading. Bithumb is famous for its trading with Korean Won (KRW) like Coinone. It supports several trading pairs including BTC/KRW, ETH/KRW, XRP/KRW, LTC/KRW, and DASH/KRW as per the list of currencies. No other pairs are available for trading on the Bithumb at that time. Bithumb also permits users to buy Bitcoin gift vouchers. Coupons have equivalent value based on the current Korean won value. The minimum price for each voucher can be 10,000 KOW, or about USD 9. Bithumb also purchases existing gift coupons from the clients and convert them into the Bitcoin with the same value. In June 2017 hackers hacked the exchange, and they hacked the personal information of more than 31000 people, and it affects the 3% clients of the Bithumb exchange. One of the clients reported that he lost 1.2 billion Korean Won during Hack. The company claimed that the hackers did not affect the exchange directly, but they hack the personal information of some users so, after knowing this Bithumb remove the funds from the accounts of their clients to avoid from bigger loss and after that, they have increased the security of the accounts at Bithumb.
Related reading, see: Top 10 Best Bitcoin and Cryptocurrency Exchanges 2018