bithumb SG

Overview of bithumb SG

Bithumb SG is a virtual currency exchange based in Singapore. The company was founded in 2019 and is regulated by Repository of Korea's Corporate Filings (RKCF). Bithumb SG offers a range of over 30 cryptocurrencies for trading. For trading fees, each party to a transaction pay the same fee: 0.05% of the order value. Additionally, information regarding payment methods provided by the exchange is not specified at this time.

According to the official website (https://www.bitholic.com/) of Bithumb SG, all services of Bitholic have been terminated as of March 27, 2022. If you have any service related inquiries, please contact service team. (contact@bitholic.com)

Pros and Cons

Pros:

- Offers a range of options for trading and investing: Bithumb SG offers users a range of options to trade and invest in various digital assets. This allows users to diversify their holdings and take advantage of different investment opportunities.

- Located in Singapore, a cryptocurrency-friendly jurisdiction: Singapore has established itself as a cryptocurrency-friendly jurisdiction, with a supportive regulatory environment. Being based in Singapore provides Bithumb SG with access to this favorable ecosystem.

Cons:

- Limited number of cryptocurrencies available: Bithumb SG offers a range of over 30 cryptocurrencies for trading. This limit the options available for users who are specifically looking to trade or invest in certain cryptocurrencies.

- Payment methods information not specified: Information regarding payment methods, and customer support provided by Bithumb SG is not specified. Without knowing the available payment options, users can not find a suitable method for their preferences or region, making the platform less convenient to use.

-Exceeded RKCF license: Bithumb SG, managed by 주식회사 빗썸코리아, possesses a Company Registration License and falls under the jurisdiction of the Repository of Korea's Corporate Filings (RKCF) in Singapore. It's important to highlight that the regulatory standing is marked as “Exceeded,” necessitating additional clarification from either the exchange itself or relevant regulatory bodies.

Regulatory Authority

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources. WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

Bithumb SG, operated by 주식회사 빗썸코리아, holds a Company Registration License. The exchange is regulated by Repository of Korea's Corporate Filings (RKCF) in Singapore. The Regulation Number for Bithumb SG is 220-88-71844. However, it should be noted that the regulation status is listed as“Exceeded,” which requires further clarification from the exchange or regulatory authorities.

Security

Bithumb SG prioritizes the security of its users' assets and personal information. The exchange implements various protection measures to ensure a secure trading environment. These measures encompass cutting-edge technologies and robust protocols that work in concert to mitigate potential risks. Bithumb SG's security framework includes advanced encryption techniques to shield sensitive data, multi-factor authentication mechanisms for enhanced user verification, regular security audits and vulnerability assessments to proactively identify and address potential weak points, and stringent adherence to industry best practices. By consistently prioritizing the security of its users' assets and personal data, Bithumb SG creates a foundation of trust that enables users to engage in trading activities with confidence and peace of mind.

Cryptocurrencies Available

Bithumb SG offers a range of over 30 cryptocurrencies for trading, including Bitcoin Cash, Stellar, Ethereum Classic, Qtum Coin and WAX Coin. However, as a virtual currency exchange, Bithumb SG is primarily focused on facilitating the trading and investing of cryptocurrencies.

Fees

Bithumb SG does not differentiate between takers and makers, levying an identical fee on both parties involved in a transaction. Specifically, each participant pays a flat fee of 0.05% of the total order value. This fee structure underscores the exchange's commitment to fairness and simplicity in its trading fee system.

Is bithumb SG a Good Exchange for You？

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

Conclusion

In conclusion, Bithumb SG is a virtual currency exchange based in Singapore. The exchange is regulated by Repository of Korea's Corporate Filings (RKCF) , but the regulation status is listed as“Exceeded”. Bithumb SG offers a range of options for trading and investing, allowing users to diversify their holdings and take advantage of different investment opportunities. For each transaction, a uniform fee of 0.05% of the order's value is applied.

However, there are some disadvantages to consider, such as limited number of cryptocurrencies available and a lack of transparency on payment methods due to the discontinuation of Bitholic services. According to the official website (https://www.bitholic.com/) of Bithumb SG, all services of Bitholic have been terminated as of March 27, 2022. It is important for users to conduct their own research and consider their individual needs and risk tolerance before using Bithumb SG or any other virtual currency exchange.

FAQs

Q: Is Bithumb SG regulated well？

A: No. Bithumb SG currently only holds an exceeded Company Registration License from Repository of Korea's Corporate Filings (RKCF, No.220-88-71844).

Q: What is Regulatory Status of Bithumb SG at present？

A: Stoppage of Business.

Q: What's the Customer Service Email Address of Bithumb SG？

A: contact@bithumbsg.com.

User Review

User 1:

I've been using Bithumb SG for a few months now and I must say, I feel quite secure trading on this platform. The security measures they have in place give me confidence that my investments are protected. The fact that it's regulated by the Monetary Authority of Singapore is a huge plus for me. The interface is also user-friendly and easy to navigate. I don't have any complaints about customer support either, as they have been responsive and helpful whenever I've reached out. The only downside I've noticed is that the range of cryptocurrencies available for trading is a bit limited, but overall, I am satisfied with my experience on Bithumb SG.

User 2:

I recently started using Bithumb SG and so far, I'm quite impressed with the platform. The regulatory oversight by the Monetary Authority of Singapore gives me peace of mind knowing that my investments are protected. The interface is sleek and intuitive and I didn't have any issues navigating it. The customer support team has been prompt in addressing my inquiries and providing assistance when needed. One thing I would like to see improved is the trading fees, as I find them a bit on the higher side. Overall, I believe Bithumb SG is a reliable and trustworthy exchange option.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.