If you’ve been around the crypto block, chances are you’ve heard of Bithumb. Founded back in 2013 and based in South Korea, it’s one of the largest and most popular cryptocurrency exchanges in the region and a major player on the global stage, too. The Bithumb exchange aims to help a lot of different people, whether you're a beginner just getting started with crypto trading or an experienced trader looking for liquidity and good volume.
In this Bithumb review, we’ll walk you through everything you need to know about Bithumb, from the coins you can trade to the Bithumb fees you’ll pay, how safe it is with Bithumb security, and what real users think. By the end, you’ll have a clear picture of whether Bithumb Korea is the right exchange for your crypto journey.
What is Bithumb?
Bithumb is a South Korean cryptocurrency exchange that’s been around since 2013, making it one of the pioneers in the space. Operated by BTC Korea.com Co., Ltd., it has grown into a heavyweight in the crypto world, especially known for its massive trading volumes and strong presence in the Korean market. Lee Jae-won, Bithumb's and Holdings CEO, leads the exchange. His IT and global business background is helping Bithumb become a blockchain service company. He also plans to prepare for an IPO in late 2025 and increase Bithumb's market share by cutting crypto transaction fees.
On average, Bithumb boasts a daily trading volume of over $100 million, and on some days, that number has soared as high as $2 billion. This high liquidity makes it a favorite for traders looking to move large amounts of crypto quickly.
Bithumb supports over 100 cryptocurrencies, ranging from heavy hitters like Bitcoin (BTC) and Ethereum (ETH) to a wide variety of altcoins. Most trading pairs are against the South Korean Won (KRW), catering primarily to the Korean market.
But Bithumb isn’t just for Korean speakers. Its website is translated into multiple languages, including English, Chinese, Japanese, Hindi, and Spanish, making it accessible to a global audience.
Beyond basic trading, Bithumb offers features like staking for select coins and a user-friendly platform designed for beginners and pros alike. Thanks to its broad coin selection, robust tools, and deep liquidity, Bithumb remains one of the top crypto exchanges not just in Korea, but worldwide.
Supported Cryptocurrencies
Bithumb has a wide variety of cryptocurrencies available, including popular ones and many altcoins. Listed below are a few of the coins available for trading on the Bithumb exchange, along with the most common trading pairs for these coins, which are primarily against the Korean won:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Dash (DASH)
- Ethereum Classic (ETC)
- Monero (XMR)
- Qtum (QTUM)
- Zcash (ZEC)
- EOS (EOS)
- Bitcoin Gold (BTG)
- Aeternity (AE)
- Status (SNT)
- Ethos (ETHOS)
While Bithumb listing isn’t as massive as exchanges like Binance, it emphasizes quality by listing coins that meet its strict standards.
Bithumb’s User Interface and Experience
Bithumb is a good choice for both new and experienced crypto traders because it strikes a good balance between being easy to use and having a lot of features.
The Bithumb website has a clean, simple layout that makes it easy to find your way around. Beginners will like how easy it is to buy and sell, and more experienced traders will like how they can look at detailed charts and order types. The interface is easy to use and keeps everything organized. The site also supports many languages, such as English, Chinese, Japanese, Hindi, and Spanish, which makes it easy for people from all over the world to use.
The Bithumb app is just as easy to use as the website. It runs smoothly and is easy to navigate. You can get real-time price updates, place orders quickly, and set alerts that work for you. Two-factor authentication and other security features give you peace of mind, and the app's simple design makes it easy to trade even when you're on the go.
Security Features
Bithumb security takes safety very seriously, especially after their big hack in 2017. Since then, they've made their defenses stronger to keep your money and personal information safe.
Bithumb uses two-factor authentication (2FA) and other standard security measures to make sure that only you can get into your account. They also encrypt user data and keep an eye on their servers around the clock to find and stop suspicious activity quickly.
Bithumb needs to verify the identity of all users to follow South Korean rules. This makes the site safer, but it also means that people can't trade without giving their real names. To get higher withdrawal limits, you need to go through more KYC checks, which include sending in government-issued IDs and proof of address.
No exchange is completely safe from hackers, but Bithumb's ongoing investments in security measures and their open communication about past problems show that they are dedicated to keeping your crypto safe.
Fees and Pricing Structure
When it comes to Bithumb fees, the exchange keeps things pretty straightforward and competitive.
Bithumb charges 0.04% for makers and 0.25% for takers. That means you pay less if you place an order that adds liquidity (maker) than if you fill an existing order (taker) that takes liquidity. There are special vouchers that give discounts to traders who do a lot of business. These can lower fees even more.
It's usually free to deposit cryptocurrencies like Ethereum, Ripple, and EOS. Bitcoin, Dash, and Litecoin deposits, on the other hand, cost a small amount of money (for example, 0.001 BTC for Bitcoin deposits). If you're putting in real money (KRW), you'll need to use the KB escrow service. It usually takes 30 to 45 minutes for the money to show up in your account.
Withdrawal fees vary by coin, for example:
- Bitcoin (BTC): 0.001 BTC
- Ethereum (ETH): 0.01 ETH
- Ripple (XRP): 1 XRP
- Litecoin (LTC): 0.01 LTC
Fiat withdrawals (KRW) cost about 1,000 KRW per transaction.
How to Get a Bithumb Account
Even if you're new to crypto, it's easy to get started with a Bithumb login. Here's a quick guide to help you sign up, put money in your account, and start trading:
1. Sign up. Go to Bithumb's official website and click the button that says "Sign Up." You need to give your email address and make a strong password. For extra security, don't forget to turn on two-factor authentication (2FA).
2. Verify your identity. Bithumb has to follow strict rules, so you'll need to do KYC verification. This means giving out personal information like your full name, date of birth, and a government-issued ID. You might also have to show proof of your address. You need to do this step to follow South Korean laws and get access to all trading features.
3. Deposit funds. Once your account is verified, you can go ahead and add money to it! Feel free to deposit Korean Won (KRW) into Bithumb using the KB escrow service! It typically takes about 30 to 45 minutes for the money to appear. Feel free to deposit a variety of cryptocurrencies directly! Be sure to look out for any deposit fees that might come into play!
4. Start trading. With funds in your account, you’re ready to trade! Use Bithumb’s intuitive platform to buy, sell, or swap cryptocurrencies. You can start with simple trades or explore more advanced order types as you get comfortable.
Bonus Tips:
- If you plan to trade large volumes, consider upgrading your account to access higher withdrawal limits and more features.
- Keep an eye on Bithumb’s promotions, like fee discounts via vouchers, which can save you money on trades.
Pros and Cons of Bithumb
Like any crypto exchange, Bithumb has its strong points and a few things to watch out for. Here’s the lowdown:
Pros
- High trading volume and liquidity
- User-friendly interface
- Wide range of cryptocurrencies
- Multi-language support
- Competitive fees
- 24/7 customer support
- Strong security measures
Cons
- No anonymous trading (strict KYC)
- Past security breach in 2017
- Limited fiat options (mainly KRW)
- Smaller coin selection compared to competitors
- Slow verification process
Bithumb’s Reputation and Customer Support
Bithumb has a mixed reputation. Many serious traders, especially in South Korea, use it as their main exchange because it has high trading volumes and liquidity. The 2017 security breach, on the other hand, is still fresh in users' minds, which makes some of them hesitant to use the platform.
When it comes to customer service, Bithumb usually delivers. You can reach their support team at any time, day or night, and they speak English, among other languages. For people in other nations, this is a huge benefit. Although the support staff's responsiveness is generally well-received, some have voiced concerns about the slowness of their responses during peak periods.
Alternatives to Bithumb
While Bithumb is a major player, it’s not the only game in town. Here are a few popular alternatives to consider:
Upbit is South Korea's largest cryptocurrency exchange by trading volume, competing with Bithumb. Upbit, based in Seoul and launched in 2017, supports over 170 coins and 288 trading pairs, mostly against the KRW. The unique integration into KakaoTalk Messenger via Kakao Stock lets users trade crypto as easily as sending a message. It does not offer margin or leverage trading but has no deposit fees and 0.25% trading fees. Upbit, supported by Dunamu and Bittrex, is a secure and user-friendly alternative to Bithumb for new and experienced traders.
By volume, Binance is the biggest cryptocurrency exchange in the world. It has a lot of different cryptocurrencies, low fees for trading, and advanced tools for trading. Binance has a bigger global reach and supports more fiat currencies than Bithumb.
Coinbase is great for beginners because it has a simple interface, strong security, and follows the rules. It supports fewer coins than Bithumb, but it has a better onboarding process and a lot of educational materials.
KuCoin provides a vast selection of altcoins, competitive fees, and innovative features like futures and margin trading. It’s a great choice if you want more trading options beyond what Bithumb offers.
Conclusion
Bithumb review shows it stands out as one of South Korea’s largest and most liquid cryptocurrency exchanges, offering a user-friendly platform that caters to both beginners and experienced traders. It offers over 100 cryptocurrencies, competitive fees, and 24/7 customer support, making it a reliable crypto trading platform, especially for KRW traders.
The exchange's strict KYC requirements and past security incident may deter some users. Its limited coin and fiat options may not suit everyone.
Bithumb is a good choice for crypto beginners and pros seeking strong liquidity and a simple interface. Before diving in, practice good security and weigh your needs.
Abimbola Adu
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