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How to use Bithumb Global exchange? Step by step guide
The world of cryptocurrencies is big and so is the range of crypto exchanges. Especially for beginners, it can be almost overwhelming to find the right network among the countless offers on crypto exchanges. Unfortunately, among the many good offers, there are also exchanges operated by fraudulent providers. Before investing in a crypto exchange, it is essential to compare some crypto exchanges with each other and also to take a look behind the scenes of the network - with the aim of choosing the most reputable network possible for trading in cryptocurrencies. Is Bithumb Serious or Should You Use It With Caution? Before a crypto fan rushes headlong into investing in a crypto exchange, the trader should obtain as much useful data as possible about the said crypto exchange in advance. This is the only way the user can convince himself before investing that the crypto exchange is not a fraudulent offer among the many good offers on the crypto market. Now we are wondering what about the crypto exchange Bithumb Global. This crypto exchange already plays a major role in the Asian region. Measured by volume alone, these largest crypto networks are in this room count. Except for one incident in which a cyber attacker was able to steal a large number of coins, this crypto exchange has not yet made any negative headlines. After severe critics regarding the security of the trading network, the exchange should have upgraded in terms of security. We'll take a closer look at whether that happened. After all, the security of customer information and coins is the top priority. How to use Bithumb Global exchange? Step by step guide
How to use the Bithumb exchange? Video and pictorial narration
The network is not only hype in Asia, but more and more Europeans are also using the trading exchange. According to users, the web-based trading network is extremely user-friendly.
The well-known profile management fees should, however, no longer play a role. After all, the wide range of crypto exchanges has made the management fees uneconomical. There are now more and more crypto exchanges that no longer charge fees for deposits and withdrawals. Nevertheless, users should not rely on the popularity but should examine the fees carefully so that there are no financially unpleasant surprises.
With Bithumb Global exchange, users can view the fees with just one click on the homepage. A big plus point, because unfortunately, this has not yet become a matter of course. The fees for makers and takers are relatively low and amount to 0.25 %. Another great advantage is regular promotions in which traders can save part or all of the fees.
Transaction Fee and Costs
So the buyer and seller both pay a transaction fee of 0.25%. If you use the fixed amount discount option, you can even reduce the fees to 0.20% each. This offer is only available to registered users. In addition, there are various campaigns at Bithumb where the commission can be partially or completely saved.
The Trading
The users now have only limited access to the network. A copy of a code or identity card must then be uploaded for verification. In order to go up one level in the verification period, the traders have to forward the correctness of the information to your Bithumb Global exchange employee in writing. After the verification of the place of residence, the last level of verification is reached. Different features can be used depending on the verification level. What is noticeable when using the Bithumb Global exchange is that you are confronted with Korean digits from time to time.
Especially the clearly listed fees should convince the traders. Because the clear listing of fees is not regular on all crypto networks. Oftentimes, hidden costs are a flaw, but this is not the case with Bithumb. In view of the low costs and the possibility of reducing costs through offers, this crypto exchange is definitely recommended.
It is practical that the individual crypto prices of the coins are clearly listed on the Bithumb Global exchange. What should also please some users is the Bithumb application, which is easy to find in the app store. This means that users can also trade with the various coins on the go.
So quality and ease of use meet at Bithumb. The traders only have to cut back on the choice of language for customer support and the rather small selection of cryptocurrency coins. If you prefer to let off steam in another language on a crypto exchange, you should switch to other offers, which fortunately exist.
Currencies Supported By Bithumb Global
Bithumb Global exchange is based in South Korea and was founded primarily for the Korean population. It does not support transactions with fiat currencies other than the South Korean won. Obviously, this system is easy for South Koreans to use because they are using the KRW. However, in order to buy cryptocurrencies from another country using Bithumb Global, you must first buy BTC or ETH, send it to Bithumb, convert it to KRW, and then convert it to the currency you want to buy.
Bithumb Regulation and Supervision
Bithumb Global is not overseen or regulated by any known regulator. It is easy to find online brokers like Bithumb that are not yet regulated seem legitimate. Bithumb is maybe relatively new. Some brokers provide their offer under offshore licenses to save manageable costs. Regulatory licensing can be very expensive. We recommend only trading with regulated brokers. Should anything go wrong with Bithumb you are not guaranteed help in a difficult situation.
How Can I Start Trading With Bithumb Global?
If you want to open a trading profile with Bithumb, you need to log in here. As soon as you have received your registration information by mail, submitted your identification files for profile validation, and made a deposit, the next step is to download the trading network of your choice. Full instructions on Bithumb's trading networks can be found here.
Conducting Trades With Bithumb Global
Bithumb allows you to execute a trade of Varies. This may vary depending on the account you open. Bithumb allows you to execute many trades of Varies. As a market maker, Bithumb may have lower entry requirements compared to a broker who benefits from a higher volume of trades and regularly have larger capital and fewer trade requirements. Market makers have lower deposits, smaller minimum trades requirements, and no commission on trades. As with most brokers, margin requirements vary depending on the tool.
Educational Resources At Bithumb
To trade Bithumb Global exchange effectively, it is important to have a good understanding of Bithumb trading tools and the exchanges. Bithumb offers a good range of educational resources. Spend some time studying how the markets and trading work, engaging in active trades, maintaining trading hours, and managing risk. An analytical approach could be a great way to trade with the exchange. Take the time to browse the Bithumb exchange networks and train yourself to think more logically about the markets. Many have new skills, but the market demands that of you too.
Currently, some are the most comprehensive comparison site for brokers and other economic providers. The providers don't pay us to be included in the comparison. Since the providers cannot influence the ranking, the Bithumb for you is always at the top of the results.
Free and independent
It offers all of its services to visitors for free and the providers do not pay us to be included in the comparison. It has what is known as a controlled remuneration policy. This policy helps ensure that customers are treated carefully and that employees are not influenced by economic incentives.
Discounts
We only receive a one-off fee from the provider if you conclude a Bithumb global exchange fee with a provider with our page. This enables us to offer you our service free of charge and to make the economic offers market more open for you as a consumer.
Since you are trading on the stock exchange yourself, the costs of investing with a broker are limited. The following costs should be considered. Start by opening an investment profile. You can trade with the money in this account. Purchases are billed and the sales proceeds are credited to the profile. Some brokers charge a fee for this, the management fee.
It also pays the transaction costs for buying or selling. These costs can rise quickly. For a good comparison of the costs per broker, it is necessary to estimate how many transactions you are expecting. In our summary, you can compare the costs per transaction of the different brokers.
Bithumb Cryptocurrency
Do not only rely on sales discussions from one supplier, but also see Bithumb experiences is a smart choice. Trust the thousands of ideas of experts who have gone before you. Tell yourself who you would rather believe: a seller, your friend with an opinion, or the ratings of countless customers who have traded on Bithumb global exchange binary options.
Leave A Review For Others
Do you have experience with Bithumb trading? Leave a review and help others see how good or bad this company is in terms of ordering convenience, service, price, and delivery! They can report an issue they encountered, but also compliment them for being so good to their customers.
Who Can I Write A Review About?
You can write a review about any company like Bithumb trading that has to do with you as a trader, investor, or entry-level trader. Have you had good or bad experiences with a particular company that is not yet listed? Then be the first to write a review and let us know.
Bithumb Global Experience
Traditionally, the Bithumb earns CFD for the transactions you make. Usually in combination with a fixed fee that is paid for maintaining the broker's wallet. However, the broker's profit examples are increasingly shifting to another level. For example, there are brokers who invest very cheaply or even offer free investments. There can be high hidden costs here.
How Do You Make Money?
Instead of a fixed amount per transaction, you can pay indirect costs that are included in the margins or in higher costs. Hence, it is worth researching the broker's profit method before starting anywhere. Of course, we have already done this work for you. You can find all brokers in our comparison of Bithumb binary options.
Bithumb Account or Asset Manager?
For many customers, the terms Bithumb broker and asset manager are ambiguous. We usually use the term “early adopters” who are Bithumb trading looking for an exchange but want their wealth recognized.
Customer Care In Bithumb?
Bithumb supports a wide range of languages including English, Spanish, German, Italian, Arabic, and Polish and more. Bithumb has a D-level support rating because sometimes the response was slow or our request was not answered. Bithumb has fewer customer support features like live messaging, phone and mail support compared to other brokers. Email support and supports a limited of languages. Live chat support supports a few languages.
What You Need To Open An Account With Bithumb
Since Bithumb is regulated by unregulated, every new customer must go through some simple compliance checks to ensure they understand the risks of trading and are approved to trade. When opening a profile, you will likely be asked about the following, so it's good to have these on hand: Please note that the expiration date of the proof of address may be different for different entities under the Bithumb brand.
A scanned color copy of your id
An invoice from a utility company or a statement from the last three months with your adress
You'll also need to answer a few simple compliance questions to confirm how much trading experience you have. So it is good to take at least a few minutes to complete the account opening.
While you can explore Bithumb Global network right away, the important thing to know is that you cannot do business until you have passed compliance, which can take up to several days depending on your situation. To start the process of opening a profile with Bithumb, please visit Bithumb's page.
Author: Emre Ata Author LinkedIn