4 other leading exchanges that offer fiat-to-crypto and crypto-to-crypto trading.
Founded in 2013, Bithumb is a South Korean cryptocurrency exchange where users can buy and sell more than 35 of the world’s largest digital currencies. The platform not only offers crypto-to-crypto trading, but also accepts fiat deposits in South Korean won (KRW).
However, if you’re looking for a site where you can buy crypto coins and tokens using other fiat currencies, there are plenty of other options to choose from. To help you find the right platform for your needs, we’ve compiled this list of four cryptocurrency exchanges like Bithumb.
Exchanges like Bithumb
What key features should you look for when searching for sites like Bithumb? We based our analysis on a range of factors, including:
- Type of trading available. Bithumb offers fiat-to-crypto and crypto-to-crypto trading, so we limited our search to exchanges with similar functionality.
- Fiat currencies supported. Bithumb supports KRW only, so we paid special attention to the fiat currencies supported by each platform.
- Cryptocurrencies supported. Next, we looked at the number of cryptos you’re able to trade on each platform, as well as whether they’re popular currencies or more obscure altcoins.
- Fees. Bithumb charges a trading fee of 0.15%, but discount coupons can also be purchased through the exchange. We considered the trading fees as well as the deposit and withdrawal charges when comparing the platforms in this list.
- Available countries. Although Bithumb offers its services to crypto traders around the world, it only accepts fiat deposits from South Korean customers.
- Ease of access. As well as through your web browser, you can also access Bithumb through a mobile trading app.
- Security. After a hack in mid-2017 led to the data of 30,000 Bithumb users being compromised, we also considered the security measures each platform has in place.
Top exchanges like Bithumb
- Allows you to trade more than 130 digital currencies
- Supports fiat deposits in USD and CNY
Established in 2014, OKEx offers crypto-to-crypto and fiat-to-crypto trading on well over 100 digital currencies. There are zero transaction fees on fiat transactions, while trading fees vary from 0.15% to 0.02% (for makers) and 0.2% to 0.05% (for takers) based on your 30-day trading volume.
2-factor authentication is supported, and you’ll need to input verification codes for withdrawals and to change your password or security settings.
OKEx also provides 24/7 customer support, desktop clients for Windows and Mac, and mobile apps for Android and iOS. However, these mobile apps were undergoing closed beta testing at time of writing (June 2018).
- Buy and sell more than 70 digital currencies
- Also supports fiat deposits in USD and EUR
With a history dating back to 2012, Bitfinex is one of the world’s best-known cryptocurrency exchanges. It also offers a wide range of trading options, with support for 70+ cryptocurrencies and two fiat options.
Trading fees on Bitfinex range from 0.1% to 0% for market makers and 0.2% to 0.1% for market takers, depending on your 30-day trading volume.
In terms of security, Bitfinex supports 2-factor authentication for logins and withdrawals, and uses email encryption to monitor withdrawals. It was subject to a 2016 security breach resulting in the theft of nearly 120,000 BTC, but fully compensated all customers.
Advanced features like an OTC desk and margin trading are also available, as are apps for Apple and Android mobile devices.
- Buy and sell hundreds of cryptocurrencies
- USD and RUB fiat deposits supported
Founded in 2015, Russia’s YoBit exchange is another popular option for anyone looking for an exchange like Bithumb. It allows users to buy and sell an almost overwhelming array of cryptos, from popular coins like BTC and ETH through to a variety of obscure altcoins.
Trading fees vary depending on the currency being traded, but never exceed 0.2%. However, if you’re using fiat currency, deposit and withdrawal fees often apply but will vary depending on the payment method selected.
2-factor authentication is supported, but it’s worth mentioning that YoBit has previously been linked with so-called “pump and dump” scams in a 2017 investigation.
- Allows you to buy and sell more than 150 cryptocurrencies
- Accepts USD, EUR and RUB fiat deposits
Launched in 2013, London-based Livecoin allows you to deposit funds in USD, EUR and RUB, as well as in a wide range of crypto coins and tokens. You can then buy and sell an impressive variety of digital currencies, with trading fees ranging from 0.18% to 0.02% depending on your 30-day trading volume.
From a security point of view, Livecoin supports 2-factor authentication, an IP address whitelist, and cold storage of funds, while it also offers multilingual customer support.
Things to consider about exchanges like Bithumb
When searching for and comparing exchanges like Bithumb, remember to consider the following important factors:
- Trading options supported. One of Bithumb’s most convenient features is that it supports both fiat-to-crypto and crypto-to-crypto trading. Many exchanges only offer one or the other, so check this out before registering for an account.
- Supported fiat currencies. Many exchanges only support one or two fiat currencies, so you may need to shop around a little to find a platform that supports your local currency.
- Supported cryptocurrencies. Don’t just look at the number of coins and tokens offered but also at what type of cryptocurrencies are supported – for example, does the exchange list popular cryptos you’re likely to want to trade, or are most of its listings for obscure coins you’ve never even heard of.
- Trading volume. Take a look at the 24-hour trading volume for each platform you’re considering. Is there sufficient liquidity for you to place your chosen trades and find a suitable price?
- Fees. Deposit, withdrawal and trading fees can all contribute to the total cost of crypto trading, so read the fine print closely to make sure you’re fully aware of the platform’s fee structure.
- Limits. Are there minimum and/or maximum limits on deposits, withdrawals and trade orders? Do they suit you?
- User interface. Next, consider the platform’s user interface and how it compares to Bithumb’s trading page – is it easier or harder to understand and navigate?
- Platform security. Find out what security measures each platform has in place to protect your funds against hacking and theft. Cold storage of customer funds and 2-factor authentication are important, while it’s also a good idea to check whether an exchange is insured.
- Customer support. Finally, do some research to find out how responsive and helpful each exchange’s customer support team is. Being able to access help quickly when you have a problem with your account is essential.
Check out our crypto exchange guide for more tips on how to choose the right platform.
If you like the features that Bithumb has to offer, why not see how it stacks up against the other exchanges listed in this article? By comparing fees, supported currencies, security measures and a range of other features, you’ll be able to choose a trading platform that offers everything you need.
Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.