Each player in the market is important, especially when it refers to big cryptocurrency exchange. Some experts think that Buthumb activity also contributed to the stability of BTC, so it is one of the reasons why the main crypto remained stable. This is really so – each participant of the market plays its role and the bigger the enterprise – the greater it is. Besides, the volume promotion provided by cryptocurrency exchange affected the market considerably. The users could get gifts for new registrations. The promotion campaign took 2 months at the end of the year and it had a big influence. The market analysts noticed considerable drop of volume after the campaign came to an end. You can check it yourself. If you look at Coinmarketcap data, you will see that it was the 5th largest marketplace in the world by volume at that period.
Bithumb ICO is rather successful. The company belongs to the list of the top crypto venues. This is the South Korean exchange and it remained at the very top long since it was launched in 2013 until new crypto venues appeared. The founder of the brand is BTC Korea Co Ltd. Though the owner is known, there is still little information concerning the members of the team.
Bithumb had a difficult year. The same can be said about cryptocurrencies market. Also, Bithumb exchange had to overcome the problems of 2 hacking attacks. Despite the difficulties the brand continued to develop. As we could find out from Bithumb news, the funds and private data were stolen.
The platform works according to KYC (Know Your Customer) rules just like at such marketplaces as Cryptox, KKEX and Cryptomate, so you will have to provide documents to the managers of the exchange to start trading. The marketplace presents rich functionality and many useful features on the site. There are also diverse marketing actions attracting new people to the site such as coupons making service cheaper.
It is important to consider: most benefits are available in home country of the venue and foreigners are not able to take advantage of these opportunities. The exchange was made to cater to the needs of the local users. The company is trying to improve the situation somehow and enlarge the customer base. For instance, foreigners faced difficulties before when they needed to explain something to the members of the support. Now the support is international and offers service in English. The site was entirely in Korean, now it has an English version. There is helpful FAQ in English.
It is also important to point out accessibility of support. The customers are able to contact the support 24/7. There is a phone number on the site, so you can call the agent if needed or write email.
There is virtual trading platform meeting the demands of those who want to test the service. Though real money is not involved there, the access to it still requires verification and all necessary personal info.
The layout of the exchange differs a little from what standard services offer. It is easy to switch between different tabs and place orders. The venue offers customers to trade over 50 coins such as BTC, ETH, Dash, LTC, Monero and others. If you want to complete the deal fast, select the “Easy Trade” option. Simple features are always popular. It explains the popularity of Bitx wallet as well. But Bithumb has more advanced features, which are available in other sections. There you can find the possibility to adjust the features or choose stop loss order.
Bithumb fee is low – 0.15% for all participants of trading. Those who use the coupons, can enjoy discounts on commission. Additionally, customers have to pay when they withdraw funds. Here the fee depends upon the currency. Bithumb provides the list of coins with withdrawal fee on the site of the exchange. You can withdraw Bithumb cash in Korean Won only. It is also possible to withdraw virtual money via e-wallet. Some currencies make customers pay for small deposits. The list of coins includes LTC, BTC, Dash etc.
The site was made to suit Koreans, but legislative base of the country made the owners pay attention to the international market. They faced serious obstacles in the Korean market when new law was adopted, so it uses its international offices to achieve the goal. The company announced ICO and then issued Bithumb coin in its Singapore-based branch because of the ban introduced in South Korea on ICOs and, consequently, its tokens. As it was reported, a big number of financial scam made the government of the country announce a ban. Therefore, Bithumb token was issued abroad. As you know, the company has two international branches at the moment. One of them functions in Singapore and the other one was launched in Indonesia.
Numerous companies launch their tokens as well such as Huobi. They also distribute tokens to active customers as a part of marketing campaign, noting, however, - these coins are not part of the ICO. The same refers to Bithumb cash, which was offered to overseas users as a part of special promotion campaign recently. They needed to register to get it. The benefits of the offer are evident for both parties. The users get access to luring terms, while the company strengthens its position as international crypto venue.
It is convenient to use Bithumb API if you constantly track the situation in the market and need to know the prices of Bithumb currency pairs. The users have the opportunity to link applications, sites and software programs to the members’ functions, for instance, it is possible to complete orders of different kinds and make information queries.