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bithumb GLOBAL-1234846823275

bithumb GLOBAL-1234846823275 WikiBit 2023-07-25 13:30

Bithumb Global, a cryptocurrency exchange, is based in Singapore and was founded in 2019. As a relatively new player in the virtual currency exchange market, Bithumb Global does not fall under any spe

Aspect Information
Company Name Bithumb Global
Registered Country/Area Seychelles
Founded Year 2019
Regulatory Authority RKCF (Exceeded)
Cryptocurrencies offered Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, TRON, etc.
Maximum Leverage 10x
Trading Platforms Web-based, Mobile App
Deposit & Withdrawal Bank Transfer, Cryptocurrency Transfer
Educational Resources Blog, Guides, Tutorials
Customer Support 24/7 Live Chat, Email Support

Overview of bithumb GLOBAL

Bithumb Global, a cryptocurrency exchange, is based in Seychelles and was founded in 2019. Bithumb Global is regulated by Repository of Korea's Corporate Filings (RKCF). It offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, TRON, and more. With a maximum leverage of 10x, traders have the opportunity to amplify their gains or losses.

Bithumb Global prides itself on providing reliable customer support around the clock. Traders can reach out to the exchange's support team through 24/7 live chat or email for assistance with any queries or concerns.

Although Bithumb Global is still relatively new, it has become a notable contender in the virtual currency exchange market.

What is bithumb GLOBAL?

Bithumb Global is a cryptocurrency exchange that operates in the virtual currency market.

One notable feature of Bithumb Global is its accessibility through different trading platforms. Users have the option to trade through web-based platforms or mobile apps, providing convenience and flexibility for traders on the go. The exchange also offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrency transfers, giving customers different options to manage their funds.

Bithumb Global aims to support its users' educational journey in the cryptocurrency market. It provides resources such as a blog, guides, and tutorials to help users gain knowledge and navigate the complexities of cryptocurrency trading. This focus on education demonstrates the exchange's commitment to empowering its users with the necessary information and tools to make informed trading decisions.

In summary, Bithumb Global is a cryptocurrency exchange that offers a diverse range of cryptocurrencies for trading.

Pros and Cons

Pros Cons
Wide range of cryptocurrencies for trading Lack of regulatory oversight
Maximum leverage of 10x Need for self-research
Accessible through web-based and mobile platforms
Multiple deposit and withdrawal methods

One of the advantages of using Bithumb Global as a cryptocurrency exchange is the wide range of cryptocurrencies available for trading. With options like Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, TRON, and more, users have the opportunity to diversify their portfolio and explore various investment opportunities. Additionally, Bithumb Global offers a maximum leverage of 10x, which allows traders to potentially amplify their gains or losses.

Another benefit of Bithumb Global is its accessibility through different trading platforms. Users have the option to trade through web-based platforms or mobile apps, ensuring convenience and flexibility for traders who are constantly on the move. The exchange also provides multiple deposit and withdrawal methods, including bank transfers and cryptocurrency transfers, giving users flexibility in managing their funds.

However, it is important to consider some potential drawbacks of using Bithumb Global. As a relatively new player in the market, the exchange does not fall under any specific regulatory authority. This lack of regulatory oversight raises concerns about the security and protection of user funds. Additionally, while the exchange offers educational resources such as a blog, guides, and tutorials, it is essential for users to conduct their own research and stay informed about market trends and developments.

In summary, Bithumb Global offers a diverse range of cryptocurrencies for trading, convenient trading platforms, and multiple deposit and withdrawal methods. However, the lack of regulatory authority and the need for self-research are factors to consider when using the exchange.

Regulatory Authority

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources. WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

Bithumb Global, operated by 주식회사 빗썸코리아 , holds a Company Registration License. The exchange is regulated by Repository of Korea's Corporate Filings (RKCF) in the South Korea. The Regulation Number for Bithumb Global is 220-88-71844. However, it should be noted that the regulation status is listed as “Exceeded,” which requires further clarification from the exchange or regulatory authorities.

Security

The security of Bithumb Global, a cryptocurrency exchange based in South Korea is an important aspect to consider.

To assess the security of Bithumb Global, it is recommended for users to conduct their own research and consider various factors. These include:

1. Protection Measures: Users should look for information on the exchange's security protocols, such as encryption methods, two-factor authentication, and cold storage of funds. It is essential for an exchange to implement robust security measures to safeguard user funds.

2. User Feedback: Reading user reviews, testimonials, and feedback can provide insights into the overall security and reliability of an exchange. It is important to consider the experiences and opinions of existing users to assess the level of trustworthiness of the platform.

3. Reputation: An exchange's reputation in the industry can be an indicator of its security measures. It is recommended to explore the exchange's track record, previous incidents, and any reported security breaches.

Users should always prioritize their own security when engaging in cryptocurrency trading. It is advised to follow best practices such as using strong, unique passwords, enabling two-factor authentication, and keeping personal information confidential. Regularly monitoring account activity and staying updated on the latest security practices in the crypto industry is also advisable.

Cryptocurrencies available

Bithumb Global offers a wide range of cryptocurrencies for trading. Some of the popular options available on the platform include Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, TRON, and more. Users have the opportunity to diversify their portfolio and take advantage of potential price fluctuations in the cryptocurrency market.

It is worth noting that cryptocurrency prices can be highly volatile and can fluctuate significantly on exchanges. Factors such as market demand, investor sentiment, regulatory news, and technological developments can all contribute to price movements. Traders should exercise caution and conduct their own research to make informed trading decisions.

How to Open an Account?

The registration process for Bithumb Global is as follows:

1. Visit the Bithumb Global website and click on the “Sign Up” button. Fill in the required information, including your email address and password, and agree to the terms of service.

2. Verify your email address by clicking on the activation link sent to your registered email. This step is essential to activate your account and proceed with the registration process.

3. Complete your profile information by providing your personal details, such as your name, date of birth, nationality, and phone number. This information is necessary for account verification and security purposes.

4. Submit the required supporting documents for identity verification. This includes a copy of your passport or national identification card, as well as proof of address, such as a utility bill or bank statement.

5. Wait for the verification process to be completed by the Bithumb Global team. They will review your submitted documents and confirm your account verification status. This step takes some time, so it is important to be patient during the process.

6. Once your account is verified, you can proceed with depositing funds into your Bithumb Global account and start trading cryptocurrencies. It is important to note that certain deposit and withdrawal limits may apply depending on your account verification level.

Fees

Bithumb Global's fees are competitive with the largest international cryptocurrency exchanges, with 0.15% commission charged for all trades. Bithumb even undercuts the competition, on some occasions offering discount coupons bringing the cost down to just 0.01%-0.07%. That's lower than just about everyone else, but again these are just temporary discount campaigns. Bithumb has no utility token, as is becoming so common with other large exchanges like Binance and KuCoin. Utility tokens are used to give users a discount on trading, while making sure they stay on the platform.

If you were to use only BNB on Binance, for example, you'd likely save money compared to what you'd spend on Bithumb. But if you're coming from Bittrex and its 0.20% fees, Bithumb will seem like quite the discount. Bithumb has a variety of fees for deposits and withdrawals as well. Instead of enumerating these one by one, here is an official image of their current Bithumb fees.

It's common forcryptocurrency exchanges that primarily serve a user base from a single nation to have fees that are higher than average. It's pleasing to report that Bithumb's fees are entirely reasonable, though you can consistently find lower rates if you're willing to do your homework.

Deposit & Withdrawal

Bithumb Global supports various deposit and withdrawal methods, including Bank Transfer and Cryptocurrency Transfer. The processing time for these transactions vary depending on the method chosen and the user's bank.

Educational Resources

Bithumb Global aims to support its users' educational journey in the cryptocurrency market. It provides resources such as a blog, guides, and tutorials to help users gain knowledge and navigate the complexities of cryptocurrency trading. This focus on education demonstrates the exchange's commitment to empowering its users with the necessary information and tools to make informed trading decisions.

Customer Support

One of the coolest things about Bithumb is how many languages they support. You can read the website in a number of languages, and 24/7 customer support is available by phone and email in Korean and English. The fact that English service comes standard is a pretty impressive feature for Bithumb, a service that does not primarily serve the Western world.

Nonetheless, there are a fair amount of complaints that Bithumb customer support can be slow, unhelpful, or even unresponsive. It's impossible to know whether this is the norm, or simply the complaints of a vocal minority. Bithumb's service is better than average, and that any snafus are mostly due to the explosion in usership they have experienced during the past few years.

Is bithumb GLOBAL a Good Exchange for You?

When considering the trading groups suitable for Bithumb Global, it is important to take into account various factors such as the platform's features, trading options, and target audience.

1. Beginner Traders: Bithumb Global could be suitable for beginners who are new to cryptocurrency trading. The platform may provide user-friendly interfaces, educational resources, and tools to help these traders understand the basics of trading and navigate the cryptocurrency market.

2. Experienced Traders: Bithumb Global may also cater to experienced traders who are looking for a diverse range of trading options and advanced features. The availability of various cryptocurrencies and trading pairs on the platform may attract experienced traders who seek opportunities for portfolio diversification and potential price fluctuations.

3. International Traders: Bithumb Global, being a global exchange, could be suitable for international traders who want to access the cryptocurrency market from different parts of the world. The platform's availability in multiple languages may facilitate communication and trading for users from various regions.

4. Traders Seeking Liquidity: Bithumb Global's liquidity may be appealing to traders who prioritize the ability to execute trades quickly and efficiently. Higher liquidity can provide better price accuracy and minimize slippage, which is essential for executing larger orders with minimal impact on market prices.

When making recommendations for these target groups, it is important to consider individual preferences, risk tolerance, and trading goals. Users may find it helpful to compare Bithumb Global's features, fees, and user reviews with other exchanges to determine which platform aligns best with their specific needs. Additionally, conducting thorough research, staying informed about market trends, and practicing risk management strategies are essential for successful trading regardless of the chosen platform.

FAQs

Q:Is Bithumb Global regulated well?

A: No. Bithumb Global currently only holds a exceeded Company Registration license from the Repository of Korea's Corporate Filings (RKCF, No.220-88-71844).

Q:Why use Bithumb Global?

A:Besides being a top rate exchange at which hundreds of trading pairs can be found with decent-to-high liquidity, Bithumb is great for making crypto purchases with fiat currency. Bithumb supports about 35 different fiat currencies for quick (non-trade) fiat purchases and an almost equal number of payment options. Basically, almost every type of payment option is supported by Bithumb. In addition, Bithumb has very low verification requirements for those who plan on making 5 BTC or less worth of withdrawals per day, which means having a Bithumb account is a must for any casual or serious crypto trader/investor.

Q:How to make a withdrawal?

A:To make a withdrawal, hover over your email address toward the upper right corner of the screen and click on “Withdrawal”. You must create a Fund Password before making a withdrawal (Bithumb will inform you of this requirement before you can make your first withdrawal). After setting this up, find the coin you wish to withdrawal by typing its symbol name, enter the address to which the coins will be withdrawn, enter your Fund Password and 2-FA code, then click “Submit”. Withdrawals are usually processed near instantly.The withdrawal fee for Bitcoin is 0.001 BTC, which is somewhat hefty compared to many other exchanges, and 0.01 ETH for Ethereum. Exchange fees are generally cheaper in terms of dollar value for most other coins. Withdrawal fees for the 2 fiat currencies supported by Bithumb vary on the payment provider but tend to be around 2% plus a set amount in the fiat currency.

User Review

User 1:

“Bithumb Global has been my go-to exchange lately. The platform's interface is slick and user-friendly – trading feels like a breeze. The variety of cryptocurrencies available is impressive, and their liquidity is usually on point. Customer support, though, could use some work. I've had slow responses to my inquiries, which can be frustrating. On the plus side, security seems robust, and I'm happy with the privacy and data protection measures. The trading fees are competitive, and deposit/withdrawal speeds are decent. I appreciate their range of order types, allowing me to customize my trades.”

User 2:

“Mixed feelings about Bithumb Global. The exchange offers a wide range of cryptocurrencies, which is cool. But when it comes to customer support, it's a bit of a letdown. Slow responses and sometimes not very helpful. The interface is modern, but it can be overwhelming for newbies. Security-wise, they seem solid, and I like that they emphasize privacy. Trading fees are reasonable, and the liquidity is usually good. My main gripe is with withdrawal speed – it's been inconsistent for me. On the bright side, they do offer various order types and the exchange seems stable, even during high-demand times.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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