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If you are looking for How to start a cryptocurrency exchange like bithump in South Korea, sure this article is gonna unblock your mind and break all the struggles in starting a bitcoin/ cryptocurrency exchange like bithumb. Before that let’s have a basic understanding of what is bithump clone script, What is bithump and highlights of Bithumb exchange?
It is a website script, that has all the existing features, trading plug-ins, and other special features of the major cryptocurrency exchange Bithumb. Bitdeal provides the enhanced bithumb clone script, which comes as a ready-made clone script with easy to install features.
Hope, we have gained a basic knowledge of bithumb clone script. Now, we are going to deeply discuss what is bithumb, what is the business model of bithumb, why you have to start a bitcoin exchange like bithumb and the business plan to start a bitcoin exchange like
What is Bithumb?
Cryptocurrency traders who are living in South Korea will about this major cryptocurrency exchange. This was the first cryptocurrency exchange which has been started in korean market. This exchange is located in Seoul, South Korea which have been founded in 2013..The CEO Of Bithumb is Kim Dae Shik, this exchange is currently owned and maintained by a South Korean company BTC Korea.com Co Ltd.
The Main reason to start an exchange like bithumb, this is the major and User-friendly exchange of Korea right now. But, along with bithumb there is another exchange Upbit which is also started to evolve in South Korea, and a lot of predictions says that Upbit will be the next major exchange of Korean cryptocurrency market. We will discuss Upbit in next update.
So, now let us have a list of Bithumb highlights that would enclose the reasons to start a bitcoin exchange like bithumb.
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Notable Highlights Of Bithumb
1. It is almost the first cryptocurrency exchange of south Korea to support trading with various cryptocurrencies and crypto Tokens.
2. As per the records of May 2019 bithumb have generated a great volume of trading which is nearly $1,09,566,628 and by June 2019 it is nearly $877,695,849.(Coinmarketcap image)
3. Apart from an exchange bithumb offers gift cards and other remittances. Refer (coinpedia)
4. Bithumb provides coupons, price notifications, and round the clock customer support as other services.
5. KRW - that is won is the south korean currency, with which many trading pairs can be allowed inside the exchange ETH/KRW, BTC/KRW and more. Check out bitcoin trading pairs here
6. A recent report on 24 hours of transaction of bithump raised around 3.48 trillion WON (i.e) nearly US $3.27 Billion.
7. As the coinmarketcap listed the trading volume of bithumb Monero trading volume have been increased to 500% on October 2018. At that time bithumb has hold around 85% of trade operations of Monero around the globe. Refer :theccpress
8..XMR/KRW trading volume was $81million on October 2018.
9. In Feb 2019 bithump have launched OTC (Over the Counter) Trading. Refer: cointelegraph
10. In May 2018, TRON Network announced, Bithump will support Upgradation of TRON Blockchain and Token Migration. Hence bithump has instructed its users to deposit their ERC20 Tokens made for TRX( Tron Cryptocurrency) and the traders have got the TRX for their Deposited Tokens. Refer: bithumb support TRON Blockchain
11.The first token listed on Bithumb was CRO Crypto.com Chain-Token.
Trading Fee & transaction highlights
12. Bithumb charges very low processing fees for cryptocurrency trading.
13. One of the finest crypto exchange that provides high-speed transactions.
14. Real-time Transactions. That is deposit and withdrawals of an exchange process occurs within a short span of time.
15.Bithumb offers 0.15% of the maker/taker fee. It a trader uses discount coupon then the trading fee will be 0.08%-0.14%
16. Bithumb won’t allow any anonymity from or to users, as the exchange obeys South Korean government rules on user identification for crypto trading
17.Traders have to be at level 2 verification.
18. KYC update is mandatory for traders. So the traders have to submit any of their documents that described in KYC rules.
19. Two Factor authentication, SMS authentication or the notable authentication highlights.
20 . Check out the bithump live trading in cryptocompare
Bithumb Live Trading
The above highlights may enough for you to understand why you to start a bitcoin exchange like binance.
In order to start a bitcoin exchange like bithumb you should, you must have a detailed business plan.
Business Plan To Start a Bitcoin Exchange Like Bithumb
Let me give some pro tips for you to before writing the business plan.
1. Find out what kind of security features that your gonna integrate which aren’t already in bithumb.
2. Upbit become another competitor for bithumb, so you can make a crypto exchange as a combination of bithumb and upbit to beat the competition.
3. Decide in which location you are going to launch your exchange. Because Seoul is already occupied by bithumb.
4. Bithumb allows only exchange with Korean currency WON(KRW), you can break the defaults of bithumb by allowing more number of currency pairing.
Likewise, there are plenty of business ideas and pro tips to make your exchange popular than bithumb,
How bitdeal can help you to launch a bitcoin exchange like bithumb
We are a team of expert bitcoin exchange developers, at bitdeal we satisfied our clients to build crypto exchange like binance, bittrex, bitfinex, bitstamp, Poloneix, OKex, Bitflyer, and more with our ready-made clone script. We can provide free customization and 24x7 support to enhance your bithumb clone website to perform better and rank on top.
Don’t waste your time! you can start a bitcoin exchange like bithumb in korea! Ask For a free demo of our bithumb clone script below.
Get a free demo for Bithumb Clone Script !!
Disclaimer: Bitdeal never has control over the Bithumb and their trade mark, also we are not doing any promotional activities for them . We are using the term "Bithumb" for easy understanding and identification. Our products and services are not mean to harm any organization or individual.
Greetings! This is Dheivanai! My love for writing transformed me as a blogger and the Passion for Crypto industry turned me as a business advisor at bitdeal. Crazy towards digging deep and analyze the new trends in the Cryptocurrency and Blockchain Industry. Follow us to read interesting and existing blogs! Stay tuned, Stay updated!
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