Bithumb Review 2027Core Trading Conditions and Fees

Bithumb review 2027: Korea's challenger exchange

Bithumb started trading in 2014, three years before Upbit, and for a time it was the largest exchange in South Korea and one of the busiest in the world. It lost the top spot at home in 2018 and has been working to win it back ever since. Its most effective weapon has been price. After an aggressive fee campaign, Bithumb now holds a substantial minority of Korean trading volume and often ranks in the global top ten for spot turnover. For 2027 it is the main alternative for Korean residents who want a second won-based venue.

Market structure

Like every licensed Korean exchange, Bithumb offers spot trading only. There are no futures and no leverage for retail customers. The principal market is quoted in Korean won, with a smaller bitcoin-quoted market. More than 300 assets are listed, a noticeably longer list than Upbit's, and Bithumb is generally quicker to add new tokens. That makes it the place where many coins get their first won pair, and those debuts often bring sharp price moves in both directions.

The fee war

In October 2023 Bithumb abolished trading fees altogether, a promotion that lasted about four months and lifted its market share dramatically. When fees returned in February 2024 they were set at 0.04%, the lowest standard rate among major Korean exchanges and slightly below Upbit's 0.05%. Customers need to register a fee coupon in the app to receive the reduced rate; without it the published rate is 0.25%. Won deposits are free, and won withdrawals cost a flat 1,000 won.

Banking partner and account opening

Korean law requires each exchange customer to link a real-name account at the exchange's partner bank. Bithumb worked with NH Nonghyup Bank for years and switched to KB Kookmin Bank, the country's largest retail bank, in March 2025. The move was designed to reach younger customers who already bank with KB. As with other Korean platforms, the requirement effectively limits access to residents with local identification, including foreigners who hold a residence card.

Regulation

Bithumb is registered with the Korea Financial Intelligence Unit as a virtual asset service provider and holds the mandatory information-security certification. Under the Virtual Asset User Protection Act it must keep at least 80% of customer crypto in cold wallets, hold customer cash at its partner bank, pay interest on won deposits, and carry insurance or reserves against hacking and system failure. Regulators inspect the exchange regularly, and it publishes quarterly attestation reports on customer asset holdings prepared by an accounting firm.

A difficult security and governance record

Bithumb's past is less comfortable than its present. It suffered a series of breaches between 2017 and 2019, including a 2018 hack that took about $31 million in crypto and a 2019 incident involving roughly $19 million that the company attributed to insiders. Customer losses were covered. Its ownership has also been tangled, with a chain of holding companies, failed sale attempts and court cases involving former executives. There has been no major hack since 2019, and controls are far tighter under current law, but the history explains why some Korean users still prefer its rival.

Corporate plans

Bithumb has been preparing a stock market listing and in 2025 split its business, separating the exchange from investment and new-venture activities to simplify the structure ahead of an offering. It has also explored partnerships abroad to share order books with foreign venues. A public listing would bring more disclosure and outside scrutiny, both of which would help address older concerns about governance.

Advantages and disadvantages

• Fees: 0.04% with the coupon, the lowest among large Korean exchanges.
• Selection: more won-quoted tokens than its main competitor.
• Legal protection: cold-storage, insurance and deposit rules set by Korean law.
• History: multiple past hacks and complex ownership.
• Access: open only to Korean residents with a KB Kookmin account.
• Volatility: newly listed tokens can swing violently against global prices.

Who should use Bithumb?

Bithumb is a sensible second account for Korean residents, especially those who want lower fees or tokens not listed on Upbit. International users cannot realistically open an account, though they may still track its listings because of the effect on prices.

Verdict

Bithumb has rebuilt its position through low fees and faster listings, and the legal framework around it is now among the strictest anywhere. For 2027 it stands as a credible number two in Korea. Remember to activate the fee coupon, compare won prices with global ones, and treat fresh listings with care.

Bithumb review: compare the alternatives

This Bithumb review is part of our Top 45 Cryptocurrency Exchanges in 2027 ranking. To compare, read the BingX review and the Bitstamp review.