Bithumb Global Overview
This article has the purpose of introducing the newly launched exchange Bithumb Global, it will guide readers through all of the features that make this exchange special and unique.
What is Bithumb?
Bithumb’s main exchange was launched in 2014 and its Korea’s earliest and most influential cryptocurrency exchange. They currently have 8 million users and a cumulative transaction volume exceeding 1 trillion US dollars – this is nearly 60% of the entire Korea Bitcoin transaction volume and 15% of the global market.
Regardless of its success, Bithumb has only been focused on the South Korea region with 80% of its platform originating from there.
Due to this Bithumb launched its spinout, Bithumb Global to connect liquidity and market potential to the rest of the world as well as to provide a better crypto trading experience and trading standards which the community will come to expect.
Today most of the cryptocurrency exchanges operate in a fragmented market, meaning that most exchanges are currently targeted towards one specific country – Bithumb Global aims to bring together and unite all the cryptocurrency communities with a fair and transparent platform.
Users can expect new improvements in the following areas:
- Improved Intuitive Site UX
- Graphical Updates
- Boosted Transaction Speed
- Wallet Management
- Staking Feature Maximized
- Fiat to Crypto On-Ramps
- Additional Language Support
- C2C Trading Improvements
The web version also introduces the new “Simplified” trading interface for the Spot Trading function. Users who are used to the “Advanced” trading function will still be able to access it.
The “simplified version” allows a streamlined user experience for traders looking to perform a quick trade or beginning users.
Historically the KYC process was not a big deal due to the fact that most exchanges did not require it and users were able to freely join any exchange regardless of its geographical location.
However, as time went past and regulations got incrasingly stricter most cryptocurrency exchanges had to pressure its users with KYC in order to legally operate – this left many cryptocurrency enthusiasts without a global and trustworthy exchange to trade from.
Due to its location and local laws Bithumb Global is not required to be as strict as many of its competitors – allowing its users to withdraw up to 1BTC every 24h without any KYC.
When looking for a new cryptocurrency exchange to house all of your upcoming trades, competitive fees should be of your upmost priority – as a substantial percentage of the revenue generated from a trade will be removed and given to the exchange.
Bithumb Global charges between 0.1 to 0% based on the currency and various promotions.
Click here to see detailed fees on Bithumb Global’s website.
One of the most unique features of Bithumb Global is its “BG Staging” initiative.
Unlike IEOs (Initial Exchange Offering) and other exchange fundraising activities, BG Staging does not require users to invest fiat or currency in a fundraising round, rather they stake their digital assets to show their interest and receive back their stake plus potentially a voucher for the featured project’s tokens after a lock-up period.
Something special to Bithumb Global is the outstanding and unique selection of tradable cryptocurrencies. Its users can benefit from a wide array of digital assets that are not available on most popular exchanges – giving a big competitive advantage to Bithumb Global users, as they have access to some underrated assets before the rest of the market will.
Some of these cryptocurrencies have already been marked by Bithumb Global as a “GEM” in order to make them easier to identify.
Bithumb Global also allows its users to stake their cryptocurrencies, this implies that users can earn interest by simply leaving funds locked within the exchange.
Bithumb Chain aims to enable the transfer of value, the flow of information, and vertical business integration within a shared blockchain ecosystem.
Bithumb Chain is designed as a powerful supplement to existing products, services, and infrastructure.
With Bithumb Chain being the virtual representation of an interconnected modern city — A blockchain city; the products, platforms, and services provided by Bithumb could represent the vital infrastructure of such a city, similar to schools, companies, hospitals, and stadiums.
Some examples of such new technologies would be a creative EaaS (Exchange-as-a-Service), which is a unique protocol PSP (Profit Sharing Protocol). The EaaS allows users to one-click create their own white labelled exchange – just one of the unique features of Bithumb Chain.
Different from tokens, BT (Bithumb Coin) are the Bithumb Family member points (BT points).
BT points are issued by Bithumb Family based on the user’s activity. The accumulated points can be used to enjoy various benefits and privileges. It is a member-only service of Bithumb Family.
1. Using the services provided by Bithumb Family
2. Purchasing merchandise provided by Bithumb Family
3. Participating in the promotion of the Bithumb Family
Points can be used in lieu of cash when using a wide variety of services within the Bithumb Family
1. Obtain the benefits corresponding to the membership level based on the cumulative number of BT points
2. Using BT points to get voting rights in tokens and participating in various activities (membership gifts, airdrop benefits, etc.
There are multiple reasons why users should be using or at least trying Bithumb Global, as it adds plentiful of value in areas that are often completely ignored on other popular exchanges, like:
- Global Support
- Beginner friendly trading
- Fiat to Crypto
- No KYC for 1BTC
- Low Fees
- A unique selection of Cryptocurrencies
And most importantly a multi year track record as one of the most respectful and trustworthy exchange within the industry, away from drama and scandals.
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