Bithumb: A South Korean Cryptocurrency Exchange

Bithumb is a prominent cryptocurrency exchange based in South Korea, a country known for its enthusiastic adoption of cryptocurrencies, resulting in the exchange boasting a substantial trading volume. Established in 2013, it has since become a prominent player in the crypto market.

The exchange specializes in cryptocurrency trading paired with the Korean Won (KRW), making it a favored choice among South Korean traders. However, it's worth noting that Bithumb offers a relatively limited selection of just 13 trading products paired with KRW, which can be seen as a constraint when compared to other exchanges.

Both market maker and market taker fees on Bithumb are set at 0.15%, which is relatively high in comparison to its competitors. However, users can enjoy reduced fees by applying a discount token, bringing the market maker fee down to 0.01% and the market taker fee to 0.07%.

It's essential to be aware that Bithumb imposes fees for small deposits, and these fees vary depending on the cryptocurrency in question. Additionally, the exchange has a reputation for high withdrawal fees. For instance, withdrawing 1.5 EOS incurs a fee, as does withdrawing 0.001 Bitcoin.

Bithumb provides 24/7 customer support and offers assistance in English for international users. Nevertheless, it's essential to note that the exchange experienced a security breach in July 2017, resulting in the theft of 1.2 billion Won, impacting approximately 30,000 users. Furthermore, in November 2017, Bithumb's servers encountered significant disruptions when users attempted to sell Bitcoin Cash.

In conclusion, Bithumb is a notable cryptocurrency exchange with competitive fee structures. However, its primary focus on KRW support makes it more tailored to the South Korean market.