Headquartered in Seoul, South Korea, Bithumb is among the most active cryptocurrency exchanges in the whole world. Based in a country that already has a huge installed based of cryptocurrency users, Bithumb accounts for a huge portion of daily transactions in most major cryptocurrencies. Due to its size, Bithumb offers users a ton of different options when it comes to cryptocurrencies they can purchase. Founded in 2013, Bithumb is an old player in the game and, thus, offers users a variety of different ways to connect with the exchange.
Owned and managed by BTC Koreacom Co. Ltd, Bithumb offers web portal as well as iOS and Android access.
Because it is such an active exchange, Bithumb places a premium on security and will make new users jump through a few more hoops to sign up for an account than some other exchanges will. Another unique feature of Bithumb is that it allows for two account levels: Personal and Corporate.
Bithumb requires an email address as well as a unique password to log in to the site. From there, users will need to provide Bithumb with their legal name, nationality, phone number, and a security ke
One of the biggest drawbacks for new users is that Bithumb only allows fiat currency exchanges in South Korea’s won. Also, there is currently no Bitcoin-Ethereum pairing available on the service. This could change in the future, but it is worth noting.
To increase the levels of currency you can exchange, Bithumb has a scaled verification process that users have to go through before they can do that. This could include scanning a driver’s license or additional legal document and sending it to Bithumb. Other options include a utility bill and even a selfie with a passport.