On the year of 2014, Bithumb was officially launched on South Korea with the leadership of Javier Sim. At that time and the following years, Bithumb choose their way to be more local for Asian countries like South Korea, Japan etc... When we came to late-2017s, with the support of increasing demand and will to reach cryptocurrencies all over the world Bithumb became more popular among the continent Asia. We can easily check the datas about Google searches of Asian people between late 2017 and 2018, it says that people searched Bithumb/Bithumb Korea more than Bitcoin. So this shows us the real success... So what's behind the success of Bithumb among Asians and how they want to become a global indiviual in the crypto world?
After the consolidation of Asian market within 5 years, the team behind Bithumb services has agreed to globalise the business. On 14th of May, 2019 Bithumb Global was officially launched as a new product under the name of Bithumb Family. Bithumb Family consists of 8 groups and 14 sub-groups with the titles of ''DEX, OTC Platform, STO, Chain, Exchange etc...'' Full details about Bithumb Family and its products can be found here. On Bithumb Global, users are able to trade more than 80 cryptocurrencies with over 100 trading pairs. Totally 8 different languages are supported on website and with this feature, they're one-step-ahead from its competitors to become a global cryptocurrency exchange.
Instant, Secure, Private
These 3 simple words are enough to explain all basics of the exchange less than 1 sentence. They've over 6-year experience in crypto world, also the ''Staging'' and ''Smart Token'' features are unique to Bithumb Global. So it shows how they are innovative in our future's world of crypto. So let's come details of the exchange features and innovative structure.
Basics of Trading Pairs and How it Works?
On most of the cryptocurrency exchanges, the main market structure consists of Spot, Margin, Futures, C2C and OTC parts. As I said in the paragraphs, the DEX and OTC platforms are seperated from the main exchange but still remains under the Bithumb Family. So the Bithumb Global includes 3 different sections for trading, namely Spot, Margin and Smart Token trading. When we check the details of Spot and Margin parts, there's no such a difference than other ones. We say that 0.1% Maker and Taker fees are compatible with the current market status and also the minimum amount of trading is as low as 0.0001 BTC. Also, the users are able to trade up to 10X leverage on 8 different pairs at the section of Margin Trading. Up to now there's not a real difference but Smart Token Trading is unique to Bithumb. So, what does Smart Token mean and how can we trade it?
Smart Token has the meaning for ''being 1X Short Token of the related cryptocurrency''. In other words when you think that BTC or ETH will go down, you can convert it USDT and also you can purchase BTCS token to earn more. Normally we expect to see more leveraged tokens in that section but Biyhumb Global allows users to trade only 1X leverage with 7 different cryptocurrencies. There are 3 lectures to understand the mechanism of Smart Tokens, you can check here for further readings.
Buy Crypto and Deposit Fiat Money
In today's crypto ecosystem, it's inevitable to have and store some part of our portfolio as crypto assets. So how can we get crypto in the easiest way, it's either depositing fiat currency into local platforms or direct purchase via using credit cards. Bithumb serves both this 2 features. You can purchase 17 different cryptocurrencies via using 21 different way. So you're not emphasized to be user of specific platforms to reach crypto. On the other hand, Bithumb users are able to deposit 2 fiat currencies directly into their trading accounts and trade on the spot market. These 2 currencies are Turkish Lira/TRY and Russian Ruble/RUB. It's seen on the related pages for TRY and RUB that, 3% fee deduction will occur from each deposit and specifically for RUB, 1.5% withdrawal fees are taken.
For more informations about how to buy cryptocurrency via credit card, you can check the ''Buy Crypto'' section on the home page. And the detailed guide for ''How to buy cryptocurrency via credit card'' is available on related Medium page of Bithumb Global.
Mining, Staking and Staging
Besides all existing features of traditional exchange properties of Bithumb Global, users are to able multiply their earnings via 3 different ways. These are mining which high-quality projects are chosen by the Bithumb team and presented to users, staking which depends on flexible 30/60/90-day earnings and again unique feature staging which tells us about a ''Give-Back Zone'' for lucky participants.
The mining and staking parts are not different than we see on other exchanges but the staging section is completely unique for them. Users who meet the criterias such as ''completing KYC procedure'', ''making trade frequently'' and some others are able to participate in the Lucky Draw. In my opinion, the Staging is a way to reward REAL Bithumb users.
BG Staging is a Gives-Back Zone for projects that global debuts in the Bithumb Global. We will strictly select global quality projects to provide users with a safe, stable and zero-cost asset value-added channel.
Enjoy trading on Bithumb Global.
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This article contains direct translation of that Medium article which I'm the real owner of it.