How to Use Bithumb: A Step-by-Step Beginner Guide

This guide covers using Bithumb from start to finish: registration, account verification, KRW deposits, crypto trading, withdrawals, fees, and security settings, with steps beginners can follow.

Bithumb is a long-established Korean cryptocurrency exchange centered on KRW markets. Understanding the sequence of registration and verification, deposits, trading, and withdrawals makes getting started easier. This article explains that process along with fees and security settings worth knowing.

1. Registration and Account Verification

First register through Bithumb's official website or mobile app. Verify the official domain and app-store listing to avoid phishing sites.

Identity Verification

• Mobile verification: Confirm your identity with a phone registered in your name.
• ID verification: Submit a photograph of your identification and follow instructions for facial verification.
• Real-name bank linking: Korean exchanges require your own bank account for KRW deposits and withdrawals. Bithumb uses a linked bank account, so prepare an account in your name at the specified bank.

All information must match your own identity. Another person's account or details cannot be used. The guide to buying Bitcoin also explains the initial steps.

2. Depositing KRW

Once verified, deposit KRW to buy coins. Choose KRW deposit in the app's Deposits and Withdrawals menu and follow the instructions for funding from your linked account.

• The sender's name must match yours for processing.
• A withdrawal restriction may apply for a period after the first deposit. Exchanges operate such policies to prevent voice phishing and financial fraud.
• Amounts and limits can vary by verification level and policy, so check the in-app guidance.

3. Buying and Selling Coins

After the KRW arrives, search for the desired coin on the trading screen and place a buy or sell order.

Understanding Order Types

• Limit order: Specify the price you want. The order executes only when that price is reached.
• Market order: Execute immediately at the current market price. It is fast, but the execution price may differ from expectations.

Enter a quantity or amount to buy, or choose a sell quantity within your holdings. The crypto order-types explanation covers reading quotes and executions. Prices change 24 hours a day and losses can occur, so start with small amounts to learn the order process.

4. Withdrawing

There are two main withdrawal types:

• KRW withdrawal: Send your KRW balance to the linked bank account in your own name.
• Coin withdrawal: Transfer coins to another wallet or exchange. Enter the exact deposit address and network or chain.

One incorrect address character or a wrong network can permanently lose assets. Copy and paste the address instead of typing it, then recheck the beginning and end. Consult the crypto wallet guide for safe storage.

5. Checking Fees

Trading has costs. The main Bithumb fees are:

• Trading fees: Charged when buys and sells execute. Rates can depend on coupons and policy.
• Withdrawal fees: External coin transfers incur network and other costs that differ by coin.

Exchange policies can change rates, so habitually check the latest in-app information before trading.

6. Security Settings Are Essential

Security is central to protecting assets and should be checked before trading.

• Two-factor authentication (OTP): Add authentication for login and withdrawal.
• Withdrawal address management: Register frequently used addresses to reduce mistakes and hacking risk.
• Stronger passwords: Use a strong password different from those on other sites.
• Phishing awareness: Do not respond to requests through unofficial links, texts, or phone calls.

Closing Thoughts

The sequence is registration and verification → KRW deposit → trading → withdrawal, with security settings completed beforehand. Experience the whole process with a small amount first, then become familiar with it while checking fees and policies.

Notice: Crypto prices are highly volatile and principal can be lost. This is informational usage guidance, not investment advice or a return guarantee. All investment decisions and responsibilities are yours.