Bithumb exchange company background, security, platform features, global rankings and introduction to advantages and disadvantages
- PHPzOriginal
- 2024-08-20 18:12:01566browse
Bithumb is South Korea’s leading cryptocurrency exchange, established in 2013. It uses cold storage, two-factor authentication and other measures to ensure security and adheres to AML/KYC regulations. Bithumb provides spot trading, futures trading, fiat currency trading, staking and rewards and other functions, and currently ranks 10th among global cryptocurrency exchanges. Its advantages include high transaction volume, good liquidity, and complete security measures. Its disadvantages include only supporting Korean won fiat currency transactions, slightly higher transaction fees, and having encountered hacker attacks.
Bithumb Exchange Introduction
Company Background
Bithumb is South Korea's leading cryptocurrency exchange, established in 2013. It is one of the largest digital asset exchanges in the world and ranks high in global rankings. Bithumb was founded by Lee Jeong-hoon and is headquartered in Seoul, South Korea.
Security
Bithumb takes multiple measures to ensure the security of the platform, including:
- Cold Storage: Most user assets are stored in offline cold wallets.
- Two-Factor Authentication: Login and withdrawal require an extra layer of security.
- Measures to prevent hacker attacks: Bithumb regularly updates its system and uses advanced technology to defend against hacker attacks.
- AML/KYC Compliance: Bithumb complies with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations to prevent money laundering and other illegal activities.
Platform Features
Bithumb offers a wide range of trading features, including:
- Spot Trading: Users can trade in a variety of cryptocurrency pairs.
- Futures Trading: Providing futures contracts for Bitcoin and Ethereum.
- Over-the-Counter (OTC): Private trading services for large transactions.
- Fiat currency trading: Users can exchange cryptocurrencies using Korean won, US dollars, and other fiat currencies.
- Staking and Rewards: Bithumb offers staking and rewards programs for popular cryptocurrencies.
Global Ranking
According to data from CoinGecko, Bithumb currently ranks 10th among global cryptocurrency exchanges. It is one of the largest exchanges in terms of 24-hour trading volume.
Advantages and disadvantages
Advantages:
- High trading volume and good liquidity
- Provide a wide range of cryptocurrency trading pairs
- Complete security measures
- Support fiat currency transactions
Disadvantages:
- Only supports Korean won fiat currency transactions
- Transaction fees are slightly higher
- Have been hacked in the past
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