This Bithumb review covers South Korea’s second-largest cryptocurrency exchange — its fee structure, regulatory status, banking arrangements, and practical standing for domestic traders in 2026. Bithumb was founded in 2013 and was for several years the dominant exchange in South Korea before Upbit launched in 2017 and overtook it by volume. Despite its second-place position in the domestic market, Bithumb remains a significant exchange with meaningful liquidity, broad KRW trading pair coverage, and the competitive advantage of South Korea’s lowest published trading fee at 0.04%.
Key Takeaways
- Trading fee: 0.04% flat for KRW pairs — the lowest published fee of any domestic Korean exchange.
- Bithumb is FSC-licensed under South Korea’s Special Financial Transactions Act.
- Banking partner switched to KB Kookmin Bank in March 2025 — users must hold a Kookmin Bank account for KRW transactions.
- Bithumb has experienced multiple security incidents over its history, with the 2019 hack ($30M) being the most recent confirmed major breach.
- Primarily serves Korean residents; real-name banking verification required for KRW access.
What Is Bithumb?
Bithumb was founded in 2013 and served as South Korea’s dominant crypto exchange from 2014 through 2017. The platform’s early positioning as the most liquid Korean exchange attracted significant institutional and retail volume. After Upbit’s launch by Kakao-affiliated Dunamu in late 2017, Bithumb’s market share declined as Upbit’s marketing reach and Kakao integration pulled users to the new platform. Bithumb has maintained a strong second-place position since, with consistent volume, competitive pricing, and a broad selection of listed Korean Won trading pairs.
Bithumb holds VASP registration under the FSC framework and operates within the Korean regulatory structure for domestic crypto exchanges. It has experienced multiple security incidents over its operating history but has continued operations and maintained user access throughout. For a comparison across Korean domestic exchanges, see the exchange directory.
Bithumb Trading Fees
Bithumb publishes a standard trading fee of 0.04% for KRW market transactions — the lowest flat rate of any FSC-licensed Korean domestic exchange. This rate applies to both maker and taker orders without volume-based tiering at standard account level. The 0.04% rate compares favourably with Upbit’s 0.05% KRW rate and Coinone’s 0.02–0.10% maker-taker structure. For traders whose primary activity is KRW-denominated spot trading, Bithumb’s fee advantage over Upbit is real, if modest in absolute percentage terms.
Banking Partner: KB Kookmin Bank
Bithumb changed its banking partner from NH Nonghyup Bank to KB Kookmin Bank on March 24, 2025. Users who had existing accounts linked to Nonghyup were required to complete a re-verification process with KB Kookmin Bank to maintain KRW deposit and withdrawal access. New users must open and verify a KB Kookmin Bank account through the real-name verification system before completing KRW transactions on the platform. This banking requirement is standard across all FSC-licensed Korean domestic exchanges but the specific partner bank differs between platforms — Upbit uses Kakao Bank and IBK; Coinone uses Kakao Bank.
Security History
Bithumb has experienced multiple security incidents across its operating history. The most significant confirmed events include a 2017 hack involving approximately $7 million in user data and $870,000 in assets, a 2018 incident in which approximately $31 million in EOS and XRP were stolen, and a 2019 theft of approximately $30 million. Bithumb compensated affected users following each incident. No major confirmed security breach has occurred since 2019. The exchange has substantially revised its security infrastructure in the intervening years.
Bithumb Pros and Cons
Advantages
- 0.04% flat trading fee — the lowest published rate of any FSC-licensed Korean exchange, below Upbit’s 0.05%.
- FSC-licensed and VASP-registered — full Korean regulatory compliance.
- Broad KRW pair selection and strong domestic liquidity as South Korea’s second-largest exchange.
- Operating since 2013 — substantial track record in the Korean market across multiple cycles.
Limitations
- Multiple confirmed security incidents (2017, 2018, 2019) — the most breach-affected major exchange in the Korean domestic market.
- KB Kookmin Bank requirement for KRW access — users without Kookmin accounts must open one before trading.
- Primarily accessible to Korean residents; real-name banking limits international access.
- Spot-only — no futures or derivatives products available on the domestic platform.
Frequently Asked Questions
What is Bithumb’s trading fee?
Bithumb charges a flat 0.04% fee for KRW pair trades — the lowest published rate of any FSC-licensed Korean domestic exchange. This applies to both maker and taker orders without volume-based reductions at standard account level.
Which bank does Bithumb use for KRW deposits?
Since March 2025, Bithumb uses KB Kookmin Bank as its real-name banking partner. Users must hold and verify a KB Kookmin Bank account to make KRW deposits and withdrawals.
Start Trading on Bithumb
Korea’s lowest domestic trading fee at 0.04%. FSC-licensed. Second-largest Korean exchange by volume since 2013.
FSC-licensed. KB Kookmin Bank required for KRW. 0.04% flat fee. Korean residency required for full access. Capital at risk.