Core Strengths
Bithumb is a Seoul-based centralized exchange founded in 2013 (initially as Xcoin), rebranded to Bithumb in 2015. It’s a dominant player on the Korean market, handling high trading volume and offering a wide suite of fiat and crypto services.
- World-class liquidity in KRW markets with daily spot volume often above $200M and reaching up to $2B on peak days
- Supports over 500 assets and 600+ trading pairs across crypto and KRW
- 24/7 live chat and phone support aim to serve both beginners and active traders
- Robust KYC/AML framework, mandatory phone verification, OTP and various deposit levels ensure compliance
Fiat and Asset Range
KRW is the primary fiat currency supported - fiat services reserved for South Korean residents
Extensive crypto offerings including BTC, ETH, XRP, ADA and many altcoins (180+ assets, 280+ pairs)
Fees and Trading Experience
- Competitive maker/taker fees between 0.04%-0.25% depending on 30-day volumes
- Low deposit fees (often free); withdrawal fees are small but vary by asset and network
- Multiple interface levels - easy, general and reserved - cater to all experience levels
Security and Historical Incidents
- Experienced multiple hacks - around $94M stolen in 2017; $32M in 2018; internal breach also reported
- Post-hack measures included cold storage, encryption, protective software and cyber insurance
- Underwent regulatory probe in 2018 but was later cleared
User Feedback
- Reviews commend clean UI and security tools but note occasional complexity and support delays
- Ratings are mixed - complaints include withdrawals, customer service, and platform crashes
- Reputation highlights variability in support quality
Limitations
- KRW focus limits global accessibility - fiat services heavily restricted
- International users may face limited fiat routes and support options
- Past hacks and compliance incidents continue to affect confidence
- Platform reliability issues noted by some users
Snapshot Metrics
| Feature | Data |
|---|---|
| Launch Year | 2013 |
| Number of Assets | 500+ |
| Trading Pairs | 600+ |
| Daily Volume (Spot) | $200M–$2B in KRW markets |
| Fee Range | 0.04%–0.25% maker/taker |
| Fiat Currency | KRW only (fiat limited to residents) |
| Support | 24/7 live chat and phone |
| Regulatory Status | Local compliance with strict KYC/AML |
| Security Incidents | Multiple past hacks (2017–2019) |
Final Verdict
Bithumb remains a dominant force in South Korean crypto markets, offering unmatched liquidity in KRW pairs and solid service levels for domestic users. Strong security and support systems are offset by repeated hacking incidents and inconsistent customer experiences.
As a foreign trader, you'll face limitations around fiat access and potential service hurdles. For those seeking deep liquidity in KRW and ready to navigate local compliance, Bithumb is top-tier. If you’re outside Korea or sensitive to platform risks, global exchanges might serve you better.