In the dynamic world of cryptocurrency, choosing the right exchange can be a daunting task. One of the platforms that has gained attention is Bithumb Global, or Bit Global as it’s also known. Whether you’re a beginner looking to start trading or an experienced trader seeking new opportunities, this detailed guide from Unilever.edu.vn will provide insights into Bithumb Global, including registration, identity verification, deposit and withdrawal procedures, and trading strategies.
What is Bithumb Global?
Founded in May 2019 by Javier Sim, Bithumb Global is an international cryptocurrency exchange headquartered in South Korea and registered in Seychelles. Following legal issues, Bithumb separated its services into various platforms: Bithumb (for South Korean customers), Bithumb Pro, and Bithumb Global.
Key Facts About Bithumb Global
- Name: Bithumb Global
- Type: Cryptocurrency exchange
- Established: 2019
- Founder: Javier Sim
- Website: www.bithumb.pro/en-us
Is Trading on Bithumb Global Worth It?
To determine if Bithumb Global is the right trading platform for you, it’s essential to weigh its advantages and disadvantages.
Advantages of Bithumb Global
Extensive Coin Support: The platform supports over 268 coins and tokens, featuring more than 341 trading pairs. Almost all Altcoins you might want to trade are available here.
Multi-Language Support: Bithumb Global offers support in multiple languages, including Chinese, English, Japanese, Korean, and Russian, ensuring users from various regions can navigate easily.
User-Friendly Interface: The intuitive interface is welcoming for beginners, simplifying the trading process. It also boasts low trading fees (0.1% for both maker and taker).
Diverse Trading Options: Users can engage in spot trading and margin trading, providing flexibility in how they trade.
Disadvantages of Bithumb Global
Centralized Exchange Limitations: As a centralized exchange (CEX), Bithumb Global suffers from liquidity issues, particularly with a 24-hour trading volume of around $210 million, which is much lower than leading competitors.
Slow Identity Verification: The identity verification process can be slow, which may frustrate users eager to start trading.
The Ecosystem of Bithumb Global
Spot Trading
Like most exchanges, Bithumb Global primarily facilitates transactions between different cryptocurrencies. Key trading pairs include USDT, BTC, ETH, and RUB.
Margin Trading
Bithumb Global allows margin trading for 11 different tokens, including BTC, ETH, LTC, and XRP.
Fiat Transactions
Bithumb has partnered with various platforms, including Paxful, to provide fiat-to-crypto transactions across multiple countries. Users can purchase cryptocurrencies using VISA or MasterCard.
Unique Selling Point: Smart Tokens
Smart tokens have an inverse value relationship with opposing tokens, making them ideal for traders looking to speculate on price declines.
Trading Fees on Bithumb Global
Bithumb Global has a transparent fee structure:
- Spot and Margin Trading: 1% fee overall:
- Maker Fee: 0.025%. This applies when a buy/sell order is placed but not executed immediately.
- Taker Fee: 0.075%. This applies when an order is executed immediately.
Deposit and Withdrawal Fees
- Deposit Fees: Generally free of charge.
- Withdrawal Fees: Vary depending on the specific cryptocurrency and can fluctuate based on market conditions.
A Step-by-Step Guide to Signing Up on Bithumb Global
To get started, follow these instructions:
- Navigate to the Bithumb Global website: https://www.bitglobal.com/en-us.
- Click on “Register” located at the upper right corner of the homepage.
- Fill in your email, create a password, and input any referral code (if you have one).
- Click “Create Account.” You’ll receive a verification email. Enter the 6-digit code to complete registration.
Security Enhancements
Setting Up 2FA
Once registered, enhance your account security by setting up Two-Factor Authentication (2FA). Access the “Security” section and enable Google Authentication. Scan the QR code and enter your password and the 6-digit number generated by the Authenticator app to finalize the process.
Identity Verification – KYC Level 2
KYC (Know Your Customer) is crucial for ensuring the security of the exchange:
- Log in and go to the “Profile User” section.
- Click “Submit Information” for KYC Level 2 to increase your withdrawal limit.
- Complete all necessary verification steps as instructed.
How to Deposit and Withdraw Funds on Bithumb Global
Depositing Funds
To deposit:
- Log in and select “Deposit.”
- Choose your desired cryptocurrency and address for deposit.
- Confirm the transaction details before proceeding (double-check protocols to avoid loss).
Withdrawing Funds
To withdraw:
- From the homepage, select “Asset” and then “Withdrawal.”
- Choose the cryptocurrency you wish to withdraw and enter the destination address.
- Confirm the withdrawal details to proceed.
Trading on Bithumb Global
Spot Trading
Once logged in:
- Click on “Spot Trading.”
- Select either “Standard” or “Advanced.”
- Pick your trading pair (e.g., BTC/USDT) and select your order type (limit or market).
Margin Trading Basics
To engage in margin trading:
- Select “Margin” from the navigation bar.
- Enter your chosen price and quantity.
- Click “Buy (Long) BTC” or “Sell (Short) BTC” as per your strategy.
Frequently Asked Questions about Bithumb Global
Is Bithumb Global Reliable?
As of now, Bithumb Global has maintained a good reputation without any major hacks or fraud allegations, making it a trustworthy platform in the cryptocurrency space.
What to Do if You Lose 2FA Access
If you lose access to your 2FA, check if you saved the initial 16-digit key when setting up Google Authenticator. If available, re-enter it into the app to generate a new code. If you don’t have the key, reach out to Bithumb Global support for assistance.
Does Bithumb Global Have Its Own Token?
Currently, Bithumb Global does not possess its own token.
What are the Daily Withdrawal Limits?
With KYC Level 1, users can withdraw up to 1 BTC daily. Completing KYC Level 2 raises this limit significantly to 100 BTC each day.
Conclusion
In summary, this guide from Unilever.edu.vn has provided an in-depth look at Bithumb Global, detailing its functionalities and how to navigate its platform efficiently. If you have any further questions or require clarification about Bithumb Global, feel free to comment below. We encourage you to follow our posts for more insights into cryptocurrency trading, as we continue to explore and share valuable information in the ever-evolving crypto landscape. Happy trading!
