Bithumb is a South Korean crypto exchange with 8 million registered users. It offers over 170 tradable coins with crypto bot trading support, which allows you to start trading with only $1.
This exchange does not charge a fee for trading in the BTC market, but a maximum 0.25% commission is charged for KRW-market trading.
Bithumb South Korean crypto exchange complete review
Bithumb; Company Information & Regulation
This exchange is a South Korean company established in 2014 by Dae-sik Kim (later became Chief Crypto Officer at Bezant Foundation) and Javier Sim. Its current CEO is Jaewon Lee, with its headquarters located in Seoul, South Korea. This project was created by BTC Korea.com Co. Ltd in 2013.
This exchange, like many other ones in the industry, is not regulated by any authority, but it has taken some measures like 5-5-7 regulation, insurance, network separation, and ISMS certification to level up the security.
Bithumb is one of the country’s longest-operating platforms and offers spot trading, staking, and lending. While derivatives are not available, the platform is widely used by both retail and institutional users.
As of 2019, Bithumb had reportedly processedover $1 trillion in cumulative volume and served more than 8 million registered users.
Summary of Specifications
In this section, we will have a glance at the key specifics of this exchange. Table of features:
Exchange | Bithumb |
Launch Date | 2014 |
Levels | 4 |
Trading Fees | 0.04%-0.25% |
Restricted Countries | Iran, Yemen, Syria, North Korea, Iceland, Barbados, Myanmar, Syria |
Supported Coins | Over 170 Assets |
Futures Trading | No |
Minimum Deposit | 1 USDT |
Deposit Methods | KRW, Cryptocurrencies |
Withdrawal Methods | KRW, Cryptocurrencies |
Maximum Leverage | 1:1 |
Minimum Trade Amount | From 0 |
Security Factors | 5-5-7 Regulation, Insurance |
Services | Investment Programs With Annual Income |
Customer Support Ways | |
Customer Support Hours | 24/7 |
Fiat Deposit | Only Through South Korean Won |
Affiliate Program | No |
Orders Execution | Not Indicated By The Exchange |
Native Token | None |
Pros & Cons
Every crypto exchange has its strengths and weaknesses. Here's how Bithumb stacks up:
Pros | Cons |
Wide Range Of Cryptocurrencies | Only Supports South Korean Won (KRW) For Fiat Transactions |
Excellent Multilingual Customer Support | Some Parts Of The Website Are Only In Korean |
High Trading Volume And Liquidity | - |
Low Trading Fees | - |
Bithumb User Levels
This exchange employs a tiered user verification system that determines withdrawal limits. Here's how it breaks down:
Level | Requirements | Features |
Level 1 | Email And SMS Verification | Unlimited Crypto Deposits, No Fiat Transactions |
Level 2 | Passport Submission And I-PIN ID Confirmation | Some Fiat (KRW) Withdrawal Allowed |
Level 3 | Written Pledge + Level 2 Verification | Higher Withdrawal Limits |
Level 4 | Proof Of Residency + Level 3 Verification | Highest Withdrawal Limits |
Bithumb Commission and Fees
Bithumb has made waves with its competitive fee structure. It offers some of the lowest numbers in the industry. Fees Overview:
Market Type | Commission |
KRW Market | 0.04% to 0.25% |
BTC Market | None |
Bithumb applies a variable maker-taker fee structure, ranging between 0.04% and 0.25% for the KRW market. Users can access discounted rates by purchasing tiered coupons based on trading activity. Bithumb commission tiers:
Bithumb Fee Coupon | Commission |
Beginner | 0.25% |
Retail Trader | 0..08% - 0.20% |
Day Trader | 0.05% - 0.065% |
High-Frequency Trader | 0.04% - 0.045% |
Deposits incur no fee except those below the minimum amount for certain cryptocurrencies (e.g., 0.005 BTC). Withdrawal commissions depend on the asset used and the blockchain network.
What Coins Does Bithumb Support?
Bithumb supports both crypto-to-crypto and crypto-to-fiat spot trading, primarily via two markets: KRW-based and BTC-based.
Bithumb isn't shy about offering a wide range of cryptocurrencies. It provides access to more than170 digital assets, including but not limited to:
- BTC
- ETH
- XRP
- ETC
- ADA
- DOT
- MATIC
- BCH
- LTC
In addition to manual trading, users can utilizeAI-driven Auto Tradingor algorithmic Bot Trading tools.
Bithumb Futures and Margin Trading: Complete overview
Unfortunately, this exchange does not offer any futures market trading or margin options. If you are really looking to trade futures, you need to look elsewhere.
How to Sign Up and Verify Your Account on Bithumb
Creating an account on this exchange is simple and mobile-verified, designed with layered verification tiers (Levels 1–4) to suit different trading needs. Each step ensures both security and regulatory alignment, especially for identity verification.
#1 Visit the Official Website
Navigate to the exchange’s homepage and click on “Sign Up” to begin registration.
#2 Mobile Number Verification
Enter your mobile phone number, which must be registered under your legal name. This number will be used to verify your identity via SMS.
Mobile phone number verification on Bithumb exchange for registration
#3 Provide Email and Location
Add avalid email address and specify your country or region of residence.
#4 Create a Secure Password
Set a strong, unique password for account protection. After completing these steps, you can access different user verification levels (1–4) to unlock deposit, withdrawal, and trading features.
Each level requires specific documentation, which is covered in the platform’s verification section.
What Platforms and Applications Does Bithumb Offer?
This exchange offers a proprietary platform for traders. This platform is accessible through the web, iOS, and Android, and clients should go through one of these ways in order to start trading. Here are the download links for mobile applications:
Bithumb Security Evaluation
Security is paramount in the crypto world, and Bithumb has taken significant steps to protect its users. The exchange's security features:
- Bithumb adheres to the "5-5-7 Regulation": 5% of personnel are IT specialists, 5% of IT personnel are data security specialists, and 7% of the budget is dedicated to data protection;
- The exchange has implemented comprehensive security solutions used by commercial banks;
- Bithumb has purchased cyber insurance coverage of up to 6 billion KRW;
- The company maintains network separation and intrusion prevention systems monitored 24/7;
- Bithumb has obtained ISMS certification and plans to acquire additional global security certifications like PIMS and ISO27001.
However, it's not all smooth sailing. Bithumb experienced a major hack in 2017, losing about $31 million worth of cryptocurrencies.
What Options Do You Have for Payments?
When it comes to funding your Bithumb account, options are somewhat limited. Payment Methods:
- Deposits and withdrawals in Korean won (KRW) for South Korean residents
- Deposits and withdrawals using cryptocurrencies only for international users
- No support for other fiat currencies or payment methods
This limitation might be a significant drawback for international users looking for more diverse payment options. It's clear that the exchange's primary focus remains on the South Korean market.
Trust Scores Overview
When it comes to finance and funds, trust acts as a very important asset. Bithumb's reputation has taken some hits, especially onTrustpilot, and the overall scores are lower than average. Trust Reviews:
- Bithumb Trustpilot: 1.4 out of 5, based on over 30 reviews
- REVIEWS.io: 1.4 out of 10, more than 10 reviews
However, there aren't many users and reviewers who have evaluated this exchange; therefore, we can't be sure of the reliability of these scores.
Bithumb Features
Bithumb offers various crypto-special services like lending and staking. However, it doesn't support social trading.
Staking | Yes |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | Yes |
Crypto Cards | No |
Customer Services in Bithumb: Schedule & Methods
There is little information about the support contact methods for this exchange. However, you can contact the customer service through the "info@bithumbcorp.com" email address.
There is no phone number available on the website. Regarding the working hours, the team is ready to answer your inquiries 24/7.
Bithumb Copy Trading and Investment Options: Does It Offer Any Services?
This exchange does not provide any copy trading services. However, it offers investment programs with an average annual income of 7% up to a maximum of 20% on deposits. To start, the user needs to choose an available option, then freeze the required amount of the asset desired.
Bithumb supports passive income through lending and crypto staking. Users can lend assets like Bitcoin and Ethereum for 3 to 7 days at competitive returns starting at 1%.
Staking is also available, including Ethereum 2.0 staking through BETH, offering annual returns based on the duration and amount staked.
Which Countries are Restricted from Bithumb's Services?
This exchange does not offer services to the countries that failed to comply with the Financial Action Task Force (FATF) standards. These countries include:
- Yemen
- Iran
- North Korea
- Iceland
- Barbados
- Myanmar
- Syria
The list includes 21 countries in total.
Bithumb's list of banned countries and regions
Bithumb vs Other Exchanges
The table below compares Bithumb's specifics with other top players in the market.
Features | Bithumb Exchange | Binance Exchange | Bybit Exchange | OKX Exchange |
Number of Assets | 170+ | 400+ | 1300+ | 7800+ |
Maximum Leverage | 1:1 | 1:125 | 1:100 | 1:12 |
Minimum Deposit | 1 USDT | $1 | Varies by Cryptocurrency | N/A |
Spot Maker Fee | 0.04% - 0.25% | 0.02% - 0.1% | 0.005% - 0.1% | -0.01% - 0.14% |
Spot Taker Fee | 0.04% - 0.25% | 0.04% - 0.1% | 0.015% - 0.1% | 0.03% - 0.23% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | Yes |
Staking | Yes | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | Yes |
Writer's Opinion And Conclusion
Bithumb exchange has more than $300,000,000 in daily trading volume and over 8 million registered accounts. The platform has received a 7/10 evaluation score on CoinGecko and a 1.4/5 rating on Trustpilot.
The company was founded by Dae-sik Kim and Javier Sim, but currently, it's led by CEO Jaewon Lee.