Bithumb is one of the largest bitcoin exchanges in the world and the largest bitcoin and ether exchange in South Korea by volume. Bithumb exchange allows traders to exchange the Korean Won for Bitcoin, Ethereum (ETH), Monero (XMR), Dash (DASH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash and Ethereum Classic (ETC). Bithumb accounts for a 75.7% share of South Korean bitcoin market volume, and accounts for about 10% of the global bitcoin trade. Bithumb accounts for around 44 percent of South Korean ether trading. The exchange has experienced significant growth recently with the rapid increase in trading volume and number of customers. On the official website, you can find the information that this exchange is run by BTC Korea.com Co. Ltd, there is little information to be found about the platform. Bithumb was recently hacked and that resulted in the loss of billions of won from customers accounts, approximately three percent of customers were hacked. Bithumb will compensate its customers whose accounts were compromised during an attack on its data systems.
Some benefits for traders include:
- Very low fees from 0.00% – 0.15%
- Fast execution, innovative features
- Security with two-factor authentication
- Bithumb provides users with an option to buy bitcoin gift vouchers, minimum value can be 10,000 KOW, or about $9 USD
- Bithumb will also purchase existing gift vouchers from customers
Platform
On the official website, there is little information to be found about the platform. The platform only provides exchange appears against the Korean Won and offers fast execution with good security. The fees are stated in the company’s website usage and may change according to the company and market conditions. The charting package is average with several technical indicators available.
Support
Bithumb offers a very good customer service center which features 24-hour customer support. Customers can walk up to the banking teller-like service counters and receive support from counselors one-on-one. On the official website, you can not find a live chat but you can send a message anytime via email.
Regulation
Bithumb is operated by a company called BTC Korea.com Co, headquartered in Seoul, South Korea. There’s surprising little information about Bithumb’s regulation and team available online. On the official website, you can not find any information about Bithumb’s regulation. The only available information is company registration NO.220-88-71844. At present, virtual currencies are not regulated by South Korea’s financial authorities and efforts to address the matter have made little progress.
Supported Digital Currencies
Bithumb exchange allows traders to exchange the Korean Won for Bitcoin, Ethereum (ETH), Monero (XMR), Dash (DASH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash and Ethereum Classic (ETC).
Deposit and Withdraw
Users can deposit and withdraw Korean Won, bitcoins and other digital currencies. Bithumb accepts deposit via credit card, debit card and bank transfer. The details about coins deposit and withdrawal transactions are accessible at Bithumb’s website.
Overview
- The largest bitcoin and ether exchange in South Korea by volume
- Bithumb accounts for a 75.7% share of South Korean bitcoin market volume, and accounts for about 10% of the global bitcoin trade. Bithumb accounts for around 44 percent of South Korean ether trading
- Bithumb exchange allows traders to exchange the Korean Won for Bitcoin, Ethereum (ETH), Monero (XMR), Dash (DASH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash and Ethereum Classic (ETC)
- Little information about the platform
- Fast execution, innovative features
- Security with two-factor authentication
- The exchange promises to offer the lowest commission rates in the world
- There is no information about Bithumb’s regulation. The only available information is company registration NO.220-88-71844
- At present, virtual currencies are not regulated by South Korea’s financial authorities and efforts to address the matter have made little progress.
- No information about the minimum deposit
- Bithumb was recently hacked
Summary
Bithumb is one of the largest bitcoin exchanges in the world and the largest bitcoin and ether exchange in South Korea by volume. Bithumb exchange allows traders to exchange the Korean Won for Bitcoin, Ethereum (ETH), Monero (XMR), Dash (DASH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash and Ethereum Classic (ETC). Bithumb was recently hacked and that resulted in the loss of billions of won from customers accounts, approximately three percent of customers were hacked. The personal information of 31,800 Bithumb users, including their names, mobile phone numbers, and email addresses were infected by the June 2017 hack. Bithumb is available to residents of Korea but in my opinion, there are lots of better exchanges available on the market. You can not find information about the minimum deposit, regulation, leverage, deposit and withdrawal are not good explained. On the official website, there is little information to be found about the platform, there’s little information about Bithumb’s team and BTC Korea.com Co. Ltd.
What to know about Ether
Why use Ethereum?
Ethereum is still in its early days and there are many possibilities for deploying smart contracts on Ethereum. In this article we will explain three of the most common use cases for Ethereum: decentralised applications, crowdfunding and to use a simple example, insurance.
Decentralised applications
Decentralised applications aim to solve big problems in which decentralisation is not useful. They need to have a web-based infrastructure in which they operate, and much of the support and certification work need to be done by third parties. One of the notable uses of this approach is the public broadcasting of weather conditions or news. Examples of such applications are Twitter and YouTube. The public statements of events and news are published as an aggregated picture, and users are able to follow the broadcast.
Blockchain technology is used to decentralise the database of accountancy systems which were published by the Financial Services Regulators Association (FSRA). Many of these systems currently run on public IT systems and typically require a lot of real estate to run. This is an example of a particular application of blockchains that is now possible on the Ethereum network.
Smart contracts
Smart contracts are a relatively new development and one that is fascinating to see if you are into cryptocurrency. Users can use any type of software to code a legally binding contract that either ends the user’s involvement in the blockchain or has other uses. Even smart contracts that cannot legally be issued on the public blockchain are interesting. An example of a smart contract is an insurance policy that can automatically suspend withdrawals at a specified time. Other examples include contracts for rent and car leasing. Ethereum has the unique ability to run these types of contracts without an intermediary, and the ability to use a blockchain-specific smart contract language. Some examples of smart contracts are:
Tender agreements. These are contracts that cannot legally be issued on the public blockchain, but can be executed by smart contracts. These contracts can come in many forms including property titles, ecommerce contracts, legal contracts, credit cards, and a whole host of other types of contracts.
These are contracts that cannot legally be issued on the public blockchain, but can be executed by smart contracts. These contracts can come in many forms including property titles, ecommerce contracts, legal contracts, credit cards, and a whole host of other types of contracts. Amendment contracts. These are contracts that are called so because they amend contracts that were previously in existence on the public blockchain, such as group private documents. The new contract has some restrictions in the way that the agreement can be modified or cancelled, but all the rules are consistent.
These are contracts that are called so because they amend contracts that were previously in existence on the public blockchain, such as group private documents. The new contract has some restrictions in the way that the agreement can be modified or cancelled, but all the rules are consistent. Programs. These contracts are called so because they are programming contracts that compile to executable code, that has to be run. Those programs run by just a few people. This type of contracts is now being used on the Ethereum network to execute ICOs and incentivize developers to write software on the platform.
These contracts are called so because they are programming contracts that compile to executable code, that has to be run. Those programs run by just a few people. This type of contracts is now being used on the Ethereum network to execute ICOs and incentivize developers to write software on the platform. Token Sale contracts. These are contracts that purchase tokens on the open market. They are typically restricted to between 5 to 75 people and must be legally executed in some way.
Crowdsale contracts are a kind of token sale that are granted on the open market. They are typically restricted to between 5 to 75 people and must be legally executed in some way.
