update 13 October 2021

Bithumb Global: A Worldwide All-Round Crypto Exchange for Beginners

At the time of writing, there are up to 22000 markets (tradable pairs) for cryptocurrencies and a significant number of crypto exchanges already established. Of course, this is good news for the crypto community as it shows an increased rate of adoption. However, it is a realm of nightmares to a newbie who has no idea what exchange to use.

Bithumb Global not to Be Confused with Bithumb

Bithumb main exchange (not Bithumb Global) was launched in 2014. Since then, the exchange has grown exponentially to become Korea’s most influential digital assets exchange. As of 2020, it has 8 million users and a current cumulative transaction volume above $1 trillion.

Fun Fact: Did you know that Bithumb (again, not to be confused with Bithumb Global) facilitates 59.19% of Korea bitcoin transaction volume and 15% of the global market?

Well, that’s true! Bithumb has only focused on one region, and 80% of the platform users are from South Korea. Therefore, in an attempt to diversify and address the issue, Bithumb launched Bithumb global.

Quick Bio of Bithumb Global

Launched in early 2019, Bithumb Global is a sub-station of Bithumb aimed at connecting liquidity and market potential worldwide. Currently, most cryptocurrencies are focused on one specific country. Bithumb Global enables each global user to trade, participate, or contribute to the digital assets ecosystem.

In fact, the launching statement read:

“With an aim to build up a better and friendlier digital assets ecosystem, Bithumb Global is launching new tools to help create inclusive community resources and a new “Unleash” program which strives to bring awareness to their vision.”

Key features of Bithumb Global

Overall: It Has a Better Trading Ecosystem

As an independent entity with its own internal resources, Bithumb Global provides a better trading environment with a new experience and community standards. With technology that includes advanced order matching engines and coin staking capabilities, Bithumb Global is undoubtedly the next-generation crypto exchange for global communities.

“Since Bithumb Global’s beta launch in May of 2019, it has onboarded more than one million users worldwide, and have had their daily trading volume exceeded over $381 million,” said Javier Sim, Co-founder and CEO of Bithumb Global in the launching statement. He went on and added that, “it has become the only exchange established in 2019 that was ranked among the top trading platforms in the world.”

BG staging

This is one of the unique features of Bithumb Global. It makes it possible for pre-selected projects to reach Bithumb Global’s users’ community and compel extensive attention.

Crypto pleasantries such as IEOs (Initial Exchange Offering) and other fundraising processes motivate users to hold platform coins to participate. They enact pricing pressure due to the required investment from traders. Traders are incentivized to recover their investment as quickly as possible, or if not careful, they can fall victim to ‘herd mentality’ given the liquidity that crypto exchanges bring.

On the other hand, a BG Staging event does not require participants to invest in crypto or fiat in a fundraising round. Participants need to stake their digital assets to show their interest. This way, the staging process does not consume mainstream fiat or currency, similar to freely launching high-quality asset tokens for platform users. In the end, participants will receive back their stake and probably reward vouchers at no risk. Weighing all these on a logic scale, BG staging could be denoted as more of a “raffle give away event.”

These vouchers are awarded based on staking commitment levels. Higher commitments are more likely to receive vouchers, which are granted based on a weighted dispensing methodology.

Bithumb Global Margin Trading

Margin trading allows investors to use borrowed funds to increase their potential profits. Users can leverage their existing cryptocurrency by borrowing funds to increase their buying power.

While it is a great way to trade, margin trading is a high-risk strategy, as it can as well compound losses if unsuccessful.

Recently, Bithumb Global introduced its margin trading platform, which currently supports Bitcoin (BTC) and Ether (ETH) trading pairs with Tether (USDT) and up to 5 times leverage.

To note, according to the launch statement, “Bithumb Global restricts the use of the service for users by the regulations and laws of the service jurisdiction or specific country. Users who register via a Bithumb account for their specific countries will be restricted from using the margin trading function.”

BG credit card

To further improve adoption to the platform, Bithumb Global is rolling out new fiat to crypto on-ramps. Traders across the globe can now purchase digital assets with credit cards. The benefit of using a credit card includes additional time savings with instant crypto to wallet transfers and low fees.

Supports different fiat currencies

Bithumb Global provides support for different FIAT trading anywhere around the world with proven technology. To achieve this, Bithumb Global works with partners who make it possible for users to trade digital currencies using Fiat currencies. Some of the partners include Xanpool and MoonPay, and recently Simplex.

Xanpool supports several fiat currencies, including INR (Indian Rupee), SGD (Singapore dollar), and HKD (Hong Kong dollar), among others. MoonPay, on the other hand, supports, among others: AUD (Australian dollar, EUR (Euro), ZAR (South African rand), and USD (United States Dollar).

Smart token (1x short BTC)

A smart token is an Ethereum-based programming code presented in smart contracts built on the Ethereum network.

Launched on May 7, 2020, the BTCS (1x short BTC) is Bithumb Global’s smart token that “seeks an expected return associated with -1 time BTC yield. For example, when BTC falls by 5%, BTCS will rise by 5%; When BTC goes up 3%, BTCS will go down 3%.”

Selection of Cryptocurrencies

Bithumb Global allows users to select tradable cryptocurrencies. Users have access to most of the underrated assets unlisted in the other exchanges. This gives users of Bithumb Global a competitive edge as they benefit from a wide array of cryptocurrencies that are not available on other platforms.

KYC

For a long time, the Know Your Customer (KYC) process was not an important venture. At least not for most cryptocurrency exchanges. Users were able to onboard any exchange with no geographical limitations. This, however, changed with time! Regulations became stricter, imposing KYC requirements for any legal digital asset exchange.

Even so, Bithumb Global and local laws’ location does not restrict it, unlike other exchanges. This allows its users to withdraw up to 1 BTC every 24 hours without any KYC. How cool is that?

Bithumb Global Fee

For every digital asset exchange, the competitive fee plays a vital part in determining the best exchange. This is a substantial percentage given to the exchange for every revenue generated.

Based on currency and other promotions, Bithumb Global charges between 0 to 0.1 percent of every transaction or trades.

Final Thoughts

Considering the above merits, it is without a doubt that there are many reasons why crypto traders should consider Bithumb Global. Starting with the platform’s global support, beginner friendliness, quick fiat to crypto trading, and low fees, other Bithumb Global perquisites include tight security measures, low latency order matching engine with proprietary technology and advanced algorithms, and a friendlier user interface.

Btc
Bitcoin
$60.850
price
0.54426%
price change
BUY NOW

Stay Home, Stay Safe, Trade Safely with Bithumb Global!

More posts

AOFEX – An Advanced Exchange Ecosystem with Top DeFi Features

AOFEX is a blockchain-based exchange and ecosystem. The network provides crypto traders with the ability to effortlessly trade, stake, mine, and more. AOFEX entered the market intending to provide a more transparent and regulated option. As such, the platform received its MSB license for digital currency trading from US regulators. Today, it seeks to become a vital bridge for institutional investors seeking to gain exposure to the digital economy.   AOFEX operates as a centralized exchange that offers low fees and…

Beginner’s Guide To Bitrue – Get More Features from Your Exchange

Bitrue is a digital asset management platform that combines the benefits of a decentralized ecosystem with the convenience of a centralized exchange. The protocol enables users to buy, sell, trade, lend, and stake an array of digital assets with ease. As such, the network continues to expand its market position. Notably, Bitrue currently has over 4 million users.   What Problems Does Bitrue Solve? The developers behind the Bitrue concept sought to reduce or eliminate a variety of issues faced by…

Introducing Vdollar: A Platform Turning Transaction Fees into Assets

Vdollar is a crypto contract exchange platform introduced to provide crypto enthusiasts with the best income opportunities and make contract trading easy. This Colorado registered network has several services like digital currency exchange, a wallet, and trading mining.  The Vdollar network possesses some excellent features, including a mine trading mechanism. In addition, Vdollar has one of the best mining features for its native token, Vdollar. So, how does the Vdollar token operate? This guide will look keenly into the Vdollar…

A Closer Look at an Emerging Crypto Exchange, MEXC

According to the Coinmarketcap platform, more than 366 registered crypto exchanges offer services in different jurisdictions. Every other month, more exchanges join the crypto world with the promise of making things easy for crypto traders and investors. Most of these exchanges prove to be unique by providing top services at affordable rates and fast speeds.  This guide will be reviewing one such exchange, MEXC, a one-stop shop for all crypto exchanging services. Keep reading to know what products and features…

1inch Exchange Review – A Fierce Rival to Uniswap’s Hegemony

Soon, it will be a year since decentralized finance rose to widespread popularity in the crypto industry and beyond. Many of the protocols emerging in 2020 are still on the rise, and the 1inch Exchange leads the pack. More so, it is challenging the superior positions of better established DeFi platforms. 1inch Exchange is an aggregator for decentralized exchanges. It launched in the summer of 2020 and has developed rapidly into one of the most promising DeFi protocols. Furthermore, it…

Binance.US: The American-based Exchange From Binance

The Binance Coin has seen an explosive price action this month, leading it past the $300 mark. Currently trading at slightly over $200, the coin can account for its boom due to its parent company's continued advances. Looking behind its success story is the crypto exchange Binance, founded in 2017 by Changpeng Zhao. The exchange ecosystem operates as a centralized exchange to solve low market liquidity, platform insecurity, and many more. The exchange managed to make massive strides ever since…

Coincheck Review: Asia’s Biggest Cryptocurrency Exchange

Coincheck is a Japanese-based cryptocurrency exchange that provides bitcoin storage services and several crypto exchange operations as of 2014. The multilingual exchange is headquartered in Tokyo, Japan, and offers several trading instruments, including both popular and liquid tokens and a few altcoins. The platform also offers margin trading with a maximum leverage of 1:5, Bitcoin spot trading, crypto lending, and a crypto payment system that automatically converts cryptos to Japanese Yen. Coincheck has the highest Bitcoin trading volume in Japan,…

Luno Full Review – Upgrading the World to a Better Financial System

The crypto is definitely upon us. To say the least, Bitcoin has more than 100 million owners, 400 000 daily users, 200 million Bitcoin wallets, and over 53 million traders. Cryptocurrencies have also emerged to have the highest trading volume compared to fiat currencies.  However, despite the widespread usability of cryptos, mainstream adoption is still a challenge, especially in developing countries in Africa and South Asia due to a lack of supporting infrastructure. Most crypto exchanges and other products are…

BlockSettle Exchange Review – A P2P Exchange with a Bright Future

Every crypto trader’s worst nightmare is losing his assets in an exchange hack. Cryptocurrency exchanges lose money in cyber attacks recurrently. Many times, they lose the people’s assets that they were keeping in custody. And just as often, they suspend withdrawals leaving everyone high and dry. Fortunately, secure peer-to-peer trading alternatives enable users to transfer assets without the exchange ever sniffing them. One of them is BlockSettle Exchange, a crypto/Forex exchange platform that lets you trade directly from your wallet,…

The BitMEX Exchange – An Easy to Follow Guide for New Users

BitMEX is a cryptocurrency derivative trading platform designed to serve the needs of the global market. Unlike most exchanges, you don't trade cryptocurrencies directly on the platform. Instead, you trade crypto-based contracts. The advantage of this strategy is its more inclusive because it provides a regulated way for large financial institutions to participate in the market.   Benefits of The BitMEX Exchange BitMEX introduces a number of benefits to the market. For one, its global approach provides a huge variety of…