bitkub Thailand

What is bitkub？

Bitkub is a big platform in Thailand for trading cryptocurrencies, like digital money. It started in 2018 and is one of the biggest in Southeast Asia. On Bitkub, you can trade more than 80 different cryptocurrencies. In one day, people there trade more than $1 billion worth of these cryptocurrencies. Bitkub's trading fees are charged per-trade (Buy or Sell) at 0.25%.

Pros and cons

• Supporting over 80 cryptocurrencies, one of the widest selections of any exchange in Southeast Asia.

• A 24-hour trading volume of over $1 billion, making it one of the most liquid exchanges in the region.

• Following rules from the SEC, which is like a financial watchdog. This keeps things safe for people who invest.

• Trading fees at 0.25% for takers and 0.1% for makers, which are some of the lowest fees in the industry.

• Not offering margin trading, which can be a disadvantage for traders who want to trade with more leverage.

• No staking rewards for any cryptocurrencies. This can be a disadvantage for users who want to earn interest in their cryptocurrency holdings.

• High withdrawal fees apply to certain cryptocurrencies on Bitkub. For instance, the withdrawal fee for Bitcoin stands at 0.0005 BTC, approximately $1.50 currently.

• Customer support at Bitkub can be sluggish, especially during peak trading hours, easily leading to frustration when account issues or transaction assistance is needed.

• Not available in all countries: Bitkub is only available in Thailand and a few other select countries. If you are located outside of these countries, you will not be able to use Bitkub.

Regulations

Bitkub is regulated by Thailand's SEC and holds a Digital Currency License issued to Bitkub Online Co., Ltd., although the specific Regulation Number hasn't been publicly disclosed.

The Securities and Exchange Commission of Thailand (SEC) is the securities regulator in Thailand, and it has active in regulating the cryptocurrency industry in Thailand. It has taken steps to protect investors from fraud and to ensure that cryptocurrency exchanges are operating in a compliant manner. However, it has also recognized the potential benefits of cryptocurrencies and has been willing to work with the industry to develop a regulatory framework that is both effective and supportive of innovation.

Security

Security is a top priority for Bitkub, and they've put in place several measures to safeguard users' funds.

• Cold storage: Most of Bitkub's cryptocurrencies are kept offline, away from the internet, to prevent hacking.

• Multi-signature wallets: For hot wallets, multiple approvals are needed to make transactions, making it tough for hackers.

• 2-factor authentication (2FA): Users must enable 2FA, adding a second code to their password for logging in.

• Security monitoring: A security team watches for unusual activity, hacking, phishing, and other risks.

• Regular audits: Independent experts review Bitkub's security often to make sure it's strong.

  Moreover, Bitkub offers extra security features:

• Strong passwords: Bitkub helps users create strong passwords.

• Account alerts: Users get notified of suspicious activities.

• Privacy control: Users manage privacy settings, hiding trades and setting up safe withdrawal lists.

Cryptocurrencies available

Bitkub offers over 80 cryptocurrencies for trading, including:

• Bitcoin (BTC)

• Ethereum (ETH)

• Tether (USDT)

• Binance Coin (BNB)

• Dogecoin (DOGE)

• Cardano (ADA)

• XRP (XRP)

• Solana (SOL)

• Terra (LUNA)

• Avalanche (AVAX)

Bitkub is constantly adding new cryptocurrencies to its platform, so the list is always growing. You can check the full list of cryptocurrencies offered by Bitkub here: https://www.bitkub.com/en/market/btc.

Bitkub has a relatively quick coin listing speed. It typically takes around 2-4 weeks for a new cryptocurrency to be listed on Bitkub after it has been submitted for listing. This is faster than some other cryptocurrency exchanges, which can take several months to list a new coin. Users can quickly access new cryptocurrencies that they are interested in, and cryptocurrency projects can get their tokens listed on a major exchange more quickly. This can help to increase the liquidity and awareness of the cryptocurrency project.

How to open an account？

The registration process of Bitkub can be completed in the following steps:

• Start by visiting the Bitkub website and click on the “OPEN ACCOUNT ” button.

• 2. Fill in your email address, password, and mobile number. Make sure to provide accurate information.

• 3. Check your email for a verification link and click on it to verify your email address.

• 4. Once your email is verified, log in to your Bitkub account using your email and password.

• 5. Complete the additional verification process by providing your personal details, such as your full name, date of birth, and address.

• 6. Finally, submit any required documents for verification, such as a copy of your identification card or passport, to verify your identity and complete the registration process.

Fees

Bitkub's trading fees are charged per-trade (Buy or Sell) at 0.25%, which is in line with the industry average.

Here is a comparison of Bitkub's trading fees with some other popular cryptocurrency exchanges:

Deposit & Withdrawal

Bitkub supports a variety of deposit and withdrawal methods, including:

• Bank transfer: Bitkub supports deposits and withdrawals via bank transfer in Thai baht. The processing time for bank transfers is typically 1-2 business days. There are no fees for deposits or withdrawals via bank transfer.

• QR code: Bitkub supports deposits and withdrawals via QR code in Thai baht. The processing time for QR code deposits and withdrawals is typically instant. There are no fees for deposits or withdrawals via QR code.

• Credit card: Bitkub supports deposits via credit card in Thai baht. The processing time for credit card deposits is typically instant. There is a 2.5% fee for credit card deposits.

• Debit card: Bitkub supports deposits via debit card in Thai baht. The processing time for debit card deposits is typically instant. There is a 2.5% fee for debit card deposits.

• Cryptocurrency: Bitkub supports deposits and withdrawals of over 80 cryptocurrencies. The processing time for cryptocurrency deposits and withdrawals varies depending on cryptocurrency. There are typically no fees for cryptocurrency deposits, but there may be fees for cryptocurrency withdrawals.

Here is a table of the deposit and withdrawal methods supported by Bitkub, along with the processing time and fees:

The following table outlines withdrawal fees and required confirmations for various cryptocurrencies on the Bitkub platform, including tokens like AXS, SAND, BTC, BAND, GLM, FTM, LUNA, OP, BCH, and SCRT. The fees and confirmations vary across these tokens, impacting the ease and cost of withdrawing them.

Educational Resources

You can find educational resources from Bitkub's news, announcements, and blog channels. They're also active on social media, where you can get the latest updates.

Customer Support

Bitkub offers 24/7 customer support to ensure that users can seek assistance and resolve any issues that may arise promptly. Users can reach out to the Bitkub customer support team through various contact channels, including email and a dedicated support ticket system. The support team strives to respond to inquiries and provide assistance in a timely manner.

As for the supported language, Bitkub primarily operates in Thailand and therefore, the primary language of customer support is Thai. However, the exchange also provides some support in English to cater to the needs of international users.

Is bitkub a Good Exchange for You？

bitkub is a good exchange for the following types:

Traders who pursue a SEC-regulated trading environment

Traders who prioritize lower trading fees and buy and sell cryptos often

Institutional traders who need to trade large volumes of cryptocurrency.

Compare bitkub with other exchanges

Feature
Trading fees	Maker: 0.25%, Taker: 0.25%	Maker: 0.1%, Taker: 0.1%	Maker: 0.5%, Taker: 0.5%	Maker: 0.26%, Taker: 0.36%
Cryptocurrencies	88	500+	200+	90+
Regulation	Regulated by the Securities and Exchange Commission of Thailand (SEC)	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)	Regulated by FSA

Has bitkub exchanged any controversy？

Yes, Bitkub has been involved in a few controversies in recent years.

In 2021, Bitkub was fined by the Securities and Exchange Commission of Thailand (SEC) for listing a cryptocurrency called KUB without the proper authorization. The SEC also fined Bitkub for failing to properly disclose information about KUB to its users.

In 2022, Bitkub was again fined by the SEC for creating artificial trading volume on its platform. The SEC alleged that Bitkub was using bots to generate fake trades in order to inflate the volume of trading on its platform.

User Reviews

James Harrington

August 17, 2023

“Bitkub is my go-to exchange for trading cryptocurrencies. The platform has a user-friendly interface which makes it easy to navigate and place trades. The liquidity is great, ensuring that my orders get executed quickly and at fair prices. I also appreciate the wide range of cryptocurrencies available for trading, allowing me to diversify my portfolio. Customer support has been prompt and helpful whenever I had any questions or issues. The trading fees are reasonable, and I haven't faced any privacy or data protection concerns.”

John Kensington

May 29, 2023

“I've been using Bitkub for a while now, and I'm quite satisfied with the experience. The platform prioritizes security, which gives me confidence in trading and storing my cryptocurrencies. The exchange is regulated by the authorities, which adds an extra layer of trust. The interface is simple and intuitive, making it easy for beginners to get started. The deposit and withdrawal speed has been impressive, ensuring quick access to my funds. The availability of various order types allows me to execute trades according to my preferred strategy. Bitkub's stability has been reliable, with no major glitches or downtime. Overall, it's a reliable exchange with excellent security and a smooth user experience.”

Conclusion

In conclusion, Bitkub is a cryptocurrency exchange that offers a wide range of cryptocurrencies for trading. It provides a user-friendly interface and educational resources, making it suitable for traders of all levels. The exchange's fee structure is competitive, and it offers various deposit and withdrawal methods. Bitkub also provides 24/7 customer support, although primarily in Thai, and has not been involved in major controversies. However, users have reported mixed experiences with the platform, including technical issues and varying levels of satisfaction with the trading process. It is important for users to carefully consider their individual needs and preferences before choosing to trade on Bitkub or any other cryptocurrency exchange.

FAQs

• Q: What are the deposit and withdrawal fees on Bitkub？

• A: Bitkub does not charge any fees for deposits, but withdrawal fees vary depending on the cryptocurrency being withdrawn.

• Q: What are the available customer support channels for Bitkub？

• A: Bitkub offers 24/7 customer support through email and a dedicated support ticket system. Users can reach out to the customer support team through these channels for assistance.

• Q: What are the fees for trading on Bitkub？

A: Bitkub's trading fees are charged per-trade (Buy or Sell) at 0.25%, which is in line with the industry average. However, Bitkub also offers a volume-based discount on trading fees. This means that you can pay lower fees if you trade a lot of volume.

• Q: Has Bitkub been involved in any major controversies？

• Yes, Bitkub has been involved in a few controversies in recent years.

• Q: Is Bitkub safe to trade with？

• A: Bitkub is a regulated exchange, but it is still possible for hackers to steal your funds. It is important to use strong passwords and two-factor authentication to protect your account.

Risk Warning

• Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.