Bithumb stands as one of South Korea's premier cryptocurrency exchanges, consistently ranking among the top platforms globally by trading volume. At the time of writing, it boasts a daily trading volume exceeding $205 million and supports over 170 different cryptocurrencies. This guide provides a detailed look into Bithumb's operations, features, and market position.
Understanding Bithumb's Core Features
Bithumb offers a robust suite of services tailored for both novice and experienced traders. The platform is known for its user-friendly interface, extensive asset listings, and reliable customer support available 24/7.
Key offerings include automated crypto bot trading, diverse investment opportunities, and specialized accounts for institutional investors. Users also benefit from access to major liquidity pools, ensuring efficient trade execution. Additionally, Bithumb provides options for earning passive income through various deposit programs.
While Bithumb is not currently regulated, it is actively working towards compliance with international financial authorities such as the Financial Intelligence Unit (FIU) and the Financial Services Commission (FSC). The exchange employs stringent security measures, including a progressive identity protection system (ISMS), advanced AML verification, and a round-the-clock trade monitoring system.
Registration and OTP verification are mandatory for all users wishing to trade on the platform. Since its inception, Bithumb has expanded from a local Korean exchange to a global service provider, aiming to evolve into a comprehensive digital financial corporation built on blockchain technology.
The Founders and Leadership Behind Bithumb
Bithumb was founded by Dae-sik Kim, a South Korean entrepreneur who also served as the company's initial CEO. In 2018, Kim transitioned from his role at Bithumb to join Bezant as their Chief Cryptocurrency Officer.
Another pivotal figure in Bithumb's history is Javier Sim, co-founder and managing director of Bithumb Global Holdings. Sim is an alumnus of the City University of Hong Kong and Cardiff University. His professional background includes roles as an investment banker at HSBC and the Bank of China International (BOCI).
The current CEO of Bithumb is Back Young Heo, who leads the company's ongoing expansion and development efforts.
Bithumb's Launch and Historical Development
Bithumb was originally created by BTC Korea.com Co. Ltd in 2013 and was officially established in 2014. The company is headquartered in Seoul, South Korea.
The exchange first launched under the name "Xcoin" in 2014. It was rebranded to Bithumb in 2015. The mobile application versions for Android and iOS were released the following year, in 2016, significantly increasing its accessibility and user base.
Geographical Availability and Restricted Countries
While Bithumb primarily serves the South Korean market, its services are accessible to users across the globe. However, the exchange restricts access for residents of certain countries that have not complied with the Financial Action Task Force (FATF) recommendations.
The list of restricted nations includes Yemen, Syria, Myanmar, Barbados, Iceland, Iran, North Korea, and several others—totaling 21 countries. This is part of the exchange's commitment to adhering to international regulatory standards.
Supported Cryptocurrencies and Trading Pairs
Bithumb offers a wide array of digital assets for trading. With over 180 cryptocurrencies listed, users can trade more than 280 different trading pairs.
Popular supported coins include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Cardano (ADA), Polkadot (DOT), Polygon (MATIC), Bitcoin Cash (BCH), and Litecoin (LTC), among many others. This diversity allows traders to access major markets and emerging tokens. 👉 Explore real-time market listings
Fee Structure on Bithumb
Bithumb employs a transparent and competitive fee structure. Transaction fees on the platform range from 0.04% to 0.25%.
The standard commission for most trades, whether as a maker or a taker, is set at 0.15% of the total transaction value. The exchange frequently offers lower rates and fee vouchers, which can be accessed through user accounts. Importantly, depositing funds onto the platform incurs no fee.
Leverage and Margin Trading Availability
Bithumb does not currently support leverage or margin trading. The platform focuses on spot trading, meaning all transactions are conducted with the user's own capital without the use of borrowed funds. This approach aligns with its emphasis on security and accessibility for a broad user base.
Frequently Asked Questions
What is Bithumb's daily trading volume?
Bithumb consistently handles a significant daily trading volume, often exceeding $205 million. This high volume indicates strong liquidity and active market participation, making it a key player in the Asian crypto market.
Is Bithumb available to users in the United States?
While Bithumb is a global exchange, users must check their local regulations. The platform restricts access from countries non-compliant with FATF, but general accessibility for U.S. users depends on regulatory alignment and the exchange's own policies.
What are the main security features on Bithumb?
Bithumb utilizes a multi-layered security system. This includes ISMS (Information Security Management System) certification, mandatory OTP verification, advanced AML checks, and a 24/7 monitoring system to detect suspicious trading activity.
Does Bithumb have a native utility token?
No, Bithumb does not currently have its own native utility token. The exchange focuses on providing a platform for trading a wide variety of other established digital assets.
How can users contact Bithumb customer support?
Support is available 24/7. Users can typically reach out via email for specific inquiries: general issues ([email protected]), listing questions ([email protected]), or partnership opportunities ([email protected]).
Can users earn interest on their crypto holdings on Bithumb?
Yes, Bithumb offers deposit programs that allow users to earn passive income on their cryptocurrency holdings. These programs provide a way to generate returns without active trading. 👉 Learn about earning opportunities