Bithumb is a South Korean cryptocurrency exchange. Cryptocurrency is very popular in South Korea and the exchange has a large volume. The exchange was founded in 2013. The exchange supports cryptocurrency trading with the Korean Won (KRW). There are only 13 products available to be traded against the KRW which is limited when compared to other exchanges.
Both market maker and market taker fees are 0.15% which is high when compared with competitors. The market maker fee is reduced to 0.01% and the market taker fee is reduced to 0.07% when a discount token is applied. There is a fee for small deposits which varies based on the cryptocurrency. There are high fees for withdrawal. Examples of withdrawal fees include 1.5 EOS for withdrawing and 0.001 Bitcoin.
Bithumb has 24/7 support and also has international support in English. Bithumb suffered a hack in 2017 in July 2017 where 1.2 Billion Won were stolen. Around 30,000 users were affected. The Bithumb servers also crashed last year in November 2017 amid users trying to sell Bitcoin Cash. Overall, Bithumb is a good exchange with competitive fees but is more tailored for South Korean customers due to its KRW support.
- Been established since 2013
- Supports trading in KRW
- Low trading fees
- High withdrawal fees
- Previously hacked
- Previously crashed