By Nathan Ferguson
Bithumb Review
Bithumb is a South Korea based trading platform serving its customers for the last seven consecutive years. It is a completely secure platform for every type of trader and provides a lot of features that will mesmerize you. If you want to know about this exchange in detail then continue reading this Bithumb review.
If you are a resident of the US then you will be shocked to know that this exchange is based in South Korea but you don’t need to worry at all because this exchange welcomes traders from the US as well. Now that your confusion is removed, now let’s start the review.
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Trading View Of The Platform
Almost every exchange providing its services in the online trading market has a different type of trading view. As an expert trader, I would suggest you to select an exchange that provides an intuitive trading view. The trading view of Bithumb shows order books, price charts and a list of available cryptocurrencies for traders. It shows price fluctuation percentage of every minute in addition to the order details on a single screen so that the users can understand it easily.
Bithumb Trading Features
If you have researched trading, you would know that trading is of various kinds. But the most widely spread kind of trading is spot trading. Here at the Bithumb, you can prepare yourself for trades in advance and execute your trade when the price reaches your desired value. This kind of trading is generally known as standard spot trading. Bithumb uses an amplitude filter in this regard and has adjusted the order price. It doesn’t let the price go higher than 300 percent and lower than 20 percent.
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Bithumb doesn’t restrict its user to spot trading only. You can try your luck in other types of trading as well. You can delve into OTC (over the counter) trading, peer to peer trading and Margin trading as well.
Referral Discount
Bithumb has created a referral feature as well by using which you can invite your friends to the exchange and earn fat discounts. In this way, not only you but your friends will also be able to take advantage of this offer. When you will directly invite your friend to the platform you will receive a 30 percent commission of his first deposit while your friend will also receive a 10 percent discount.
Security Features
There are a lot of online trading platforms that provide impressive features but still, they don’t succeed in attracting customers. I have studied this problem and found out that this happens with those exchanges only who neglect the security feature. But you don’t need to worry about this because Bithumb is a platform that has seriously worked on this issue. It has taken two different steps to counter the problem of security.
The first step taken by this exchange to ensure the safety of traders’ money is the provision of cold storage to every client. Cold storages are accounts that are offline and are never connected to the internet. It means that no cyber-criminal can put his hands on these accounts. Bithumb only keeps a small number of coins in hot accounts and the rest remains safely in cold storage.
The second feature that ensures the safety of traders is the two-factor authentication. This feature is mandatory for every trader to request a withdrawal. This authentication will be required every time you try to log in to your account. According to this feature, a text message is sent on your mobile number that contains the security code.
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Bottom Line
There are a lot of trading platforms that appear before traders but all of them are not trustworthy. This is a matter of money that is why I suggest you to sign up with only Bithumb because it is already being used by many traders and they have no complaint about it.