Bithumb Review 2024

Our veredict

Bithumb is a well-established cryptocurrency exchange that has carved out a significant presence in the global market, particularly in South Korea. Known for its high liquidity and extensive range of supported cryptocurrencies, Bithumb appeals to both novice and experienced traders. One of its standout features is the user-friendly interface that supports multiple languages, including English, Korean, Japanese, Chinese, Spanish, and Hindi, which makes it accessible to a broad user base. The platform also offers robust customer support, although it has faced some criticism for occasional slow response times.

However, Bithumb has also experienced significant security issues, most notably a hacking incident in 2017 that resulted in the theft of user funds. While the platform has since implemented stringent security measures, including two-factor authentication and compliance with regulatory standards, this history might still be a concern for some potential users. Additionally, Bithumb primarily supports fiat deposits and withdrawals in South Korean Won (KRW), which could be a limitation for international users. Despite these challenges, Bithumb remains a major player in the crypto exchange market, offering competitive fees and a variety of trading options and services such as staking and auto-trading.

Pros

Low Trading Fees: Bithumb offers competitive trading fees starting from 0.04% to 0.25%, making it one of the lowest fee structures in the industry, especially for high-frequency traders.
Strong Security Measures: Bithumb employs advanced security protocols, including ISMS certification and two-factor authentication, to ensure the safety of user funds and data.
Extensive Cryptocurrency Selection: The platform supports over 200 cryptocurrencies, providing users with a wide range of options for trading and investment.

Cons

Threenvest Score

Fees

0.15% (Maker), 0.15% (Taker)

U.S Legal

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Why choose Bithumb?

Bithumb offers several compelling reasons for choosing it as your cryptocurrency exchange platform. Firstly, Bithumb’s high liquidity is a major advantage for traders, ensuring that buy and sell orders are executed swiftly and efficiently, which is particularly beneficial during high volatility periods. This liquidity is supported by its significant trading volume, making it one of the top exchanges globally.

Secondly, Bithumb provides a user-friendly interface and extensive customer support in multiple languages, including English, Korean, Japanese, Chinese, Spanish, and Hindi. This multilingual support makes it accessible to a global audience and enhances the trading experience for users from different regions. The platform’s intuitive design is particularly helpful for beginners, facilitating easy navigation and trading.

Moreover, Bithumb offers competitive trading fees, which are crucial for frequent traders. With a flat trading fee of 0.25% for both makers and takers, Bithumb ensures that users can maximize their returns without being burdened by high costs. Additionally, the platform often provides promotional discounts that can further reduce these fees.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I recommend Bithumb for its high liquidity and user-friendly interface. This platform is especially advantageous for both beginners and experienced traders, thanks to its extensive range of supported cryptocurrencies and competitive trading fees. Despite past security issues, Bithumb has significantly improved its security measures, making it a reliable choice for trading and managing crypto assets. For those looking to trade on a well-established exchange with robust support and a wide variety of services, Bithumb is a solid option.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.