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Review on Bithumb by Alex Martakov

Revainrating 4 out of 5

Bithumb was originally created for South Korea. For ordinary users, working…

Bithumb was originally created for South Korea. For ordinary users, working with it may seem quite complicated and inefficient. For a trader who operates with small amounts, there are a large number of more convenient and easy-to-work analogues. However, the Bithumb exchange is in good standing with the South Korean government. The platform wants to regulate its activities in terms of the country's legislation. For those users who are looking for stability and legality this exchange can be a good option.



Pros
  • The constant addition of new coins a High level of liquidity Low fees quick support is Able to reduce the Commission's Independence of the commissions from the payment amount a Serious approach to security On the stock exchange, Bytham there is support for Korean, Japanese, Chinese, Hindi, Spanish and English. However, as for the last two, many sections remained without translation. it is impossible to trade and withdraw funds on the exchange without data verification. For some, this may seem like a disadvantage, but this is how the developers tried to protect user personal data. Almost all the functionality of the exchange is focused on Asian countries. Perhaps this is why the site is not very popular in Russia. Another global problem for Russian-speaking users is the lack of translation into Russian, moreover, not the entire site is translated even into English. In addition to the problem with the transfer, it may be difficult to enter funds, since the only Fiat is the South Korean national currency – won. The disadvantage is that you can buy cryptocurrency on the exchange only for won. The team exchange Bithumb tries to monitor the safety of the platform. Judging by the reviews in the network, the exchange is a very difficult verification process, especially for citizens of CIS countries. This process is required for all operations. You can also track your account history in your profile. Despite all the efforts of the creators, in the summer of 2017, the exchange was attacked by scammers, which affected 3% of users. This attack can not be considered a security problem, since the entrance was made through the PC of the platform employee, the exchange itself was not hacked. Some users also complain about the inconvenient interface of the site, which is nicknamed "old-fashioned".
Cons
  • One available FIATA currency (Korean won) Awkward interface is a Partial translation of the website into English is a Compulsory verification of the hard conditions of the Perfect cyber attack (June 2017), the Exchange does not work with Althingi

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