What exchange is Bithumb?

Bithumb is the largest cryptocurrency exchange in South Korea, with more than 6 million registered users, supports more than 180 currencies, and provides high liquidity and security. It focuses on the Korean market but faces shortcomings such as regulatory risks and a history of hacking attacks.

Bithumb: South Korea’s leading digital asset exchange

Bithumb is a digital asset exchange in South Korea. It was established in 2014 and is one of the largest cryptocurrency trading platforms in South Korea.

Key Features:

• Popularity: With over 6 million registered users, Bithumb is the most popular cryptocurrency exchange in South Korea.
• Extensive currency support: The exchange supports over 180 cryptocurrencies, including Bitcoin, Ethereum, and Ripple.
• High Liquidity: Bithumb has high trading volume, providing traders with good liquidity.
• Security: The exchange employs multiple layers of security including cold storage, two-factor authentication, and anti-money laundering measures.
• User-Friendly: Bithumb provides a user-friendly platform that can be easily used by both beginners and experienced traders.

Operation mode:

Bithumb is a centralized exchange, which means it is responsible for the matching and settlement of transactions. The platform charges traders transaction fees for buying and selling digital assets. Transaction fees vary based on transaction volume and currency.

Advantages:

• Korean Market Dominant: Bithumb dominates the Korean cryptocurrency market, providing users with a wide range of trading options.
• Strong Liquidity: The exchange’s high trading volume ensures that traders’ orders can be executed quickly.
• Trusted: Bithumb has been operating since 2014 and enjoys a good reputation in the industry.

Disadvantages:

• Korea Restrictions: Bithumb is only open to Korean users and is inaccessible to international users.
• Regulatory Risk: Bithumb has faced criticism for poor regulation and has been punished for regulatory compliance issues before.
• Hacker Attacks: The exchange has been hacked multiple times, resulting in the loss of customer funds.

Overall, Bithumb is South Korea’s leading cryptocurrency exchange, offering wide currency support, high liquidity, and a user-friendly platform. However, its Korean restrictions, regulatory risks and historical hacking record need to be considered.

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