If you're looking to trade crypto in South Korea, Bithumb is one of the biggest names you'll find. But if you're outside Korea - especially if you're in the U.S., Europe, or even Australia - you might be better off looking elsewhere. As of November 2025, Bithumb still operates almost entirely as a Korea-only platform, despite being one of the largest exchanges in the country by volume and user count.

Who Actually Uses Bithumb?

Bithumb isn't built for global traders. It's built for Koreans. With over 8 million registered users and daily trading volumes that regularly hit $2.5 billion, it's the go-to exchange for people living in South Korea who want to buy Bitcoin, Ethereum, or local tokens using Korean won (KRW). The platform integrates directly with Korean banks, so deposits and withdrawals in KRW are fast and seamless - if you have a Korean bank account and a resident registration number (RRN).

For non-Koreans, the experience is frustrating. You can't sign up without a Korean phone number. You can't pass KYC without an RRN. Even if you manage to get past those barriers, the app and website are mostly in Korean. Some buttons are translated to English, but the menus, help docs, and customer support? All Korean. One user on the Google Play Store wrote: "I tried changing the language to English. Nothing worked. It's like they put English words in randomly just to confuse you."

Trading Features and Fees

Bithumb offers spot trading on between 170 and 380 cryptocurrencies, depending on which source you trust. Most of these are Korean-listed tokens or low-cap altcoins that aren't available on bigger global exchanges. There are no futures, no options, no leverage trading, and no copy trading. If you're used to Binance or Bybit, you'll feel like you're using a tool from 2018.

Fees are competitive for KRW pairs: 0.04% for both makers and takers. That's lower than many global exchanges. But if you're trading in BTC or USDT pairs, fees jump to 0.1% or higher. And if you're trying to withdraw a coin that doesn't have much volume? Expect delays - sometimes up to 72 hours.

The platform does support TradingView charts and has a public API for automated trading. But the mobile app is the only way to trade - there's no desktop version. And the app? It's clunky. Users report lag during market spikes, and withdrawals often take days even when the network is clear.

Security and Regulation

This is where Bithumb shines - if you're in Korea. It holds 98.7% of user funds in cold storage, has ISMS, ISO27001, and BS10012 certifications, and was named an "excellent cyber crisis response company" by the Korea Internet & Security Agency in 2020. South Korea's Financial Services Commission (FSC) tightly regulates all exchanges, and Bithumb complies fully. That means real-name banking, strict KYC, and government oversight.

That level of regulation is rare globally. Most international exchanges don't have this kind of government-backed compliance. But it comes at a cost: you can't use Bithumb unless you're a Korean resident. Even if you have a Korean passport but live abroad, you'll likely be blocked unless you can prove you're physically in Korea during verification.

Why International Users Get Locked Out

Let’s be clear: Bithumb doesn’t want international users. It’s not that they’re bad at localization - they’ve chosen not to do it. Reddit threads from September 2025 show dozens of users from Canada, Germany, and the U.S. trying to sign up. Every single one failed KYC. One user in New Zealand tried using his Korean friend’s ID. His account was frozen within 48 hours. Bithumb’s system checks IP addresses, device fingerprints, and bank details. If anything looks off - even if you're just traveling - your account gets flagged.

Customer support doesn’t help. The only way to contact them is through the website’s 1:1 inquiry form or email ([email protected]). Both are in Korean. No English-speaking agents. No chatbot translation. No workaround. Even if you pay for a Korean translator, the support team still won’t help you unless you have a Korean RRN.

How It Compares to Other Korean Exchanges

Bithumb isn’t alone in Korea. Upbit and Coinone are its main rivals. Upbit has slightly higher daily volume - around $2.5 billion - and a cleaner interface. Coinone is smaller but has better mobile UX. Bithumb leads in user count and market depth for KRW pairs, but none of them offer anything international users can use.

Compared to global giants like Binance or Coinbase, Bithumb is a local player. Binance supports 190 countries and 15 languages. Coinbase works in 49 countries with full English support. Bithumb? Zero international language options. Zero foreign KYC support. Zero global reach.

Is Bithumb Safe?

Yes - but only for Koreans. The security is top-tier by Korean standards. The platform has never suffered a major hack. Its cold storage practices are among the best in Asia. Financial reports are published twice a year and show $1.2 billion in net assets as of Q2 2025.

But safety isn’t just about cold wallets. It’s about access. If you're not Korean, you can't even get in the door. That’s not a security feature - it’s a barrier. And if you're a Korean living abroad, you’re stuck. You can’t log in from overseas without triggering fraud alerts. Even if you use a VPN, your account will likely be suspended.

What’s New in 2025?

Bithumb released version 3.8.1 of its app in September 2025. The update fixed a few bugs in the Korean interface and improved KRW deposit speed. There were no changes to language support, international access, or trading tools. The company hasn’t announced any plans to expand outside Korea. Analysts at Traders Union say they don’t expect any major changes until South Korea revises its capital control laws - which isn’t likely before 2027.

Who Should Use Bithumb?

If you’re a Korean citizen or resident with a Korean bank account and RRN - Bithumb is one of the best choices you have. It’s reliable, secure, and has deep liquidity for KRW trading.

If you’re not Korean - skip it. You won’t get past registration. Even if you somehow do, you’ll be stuck with a half-translated app, no support, and no way to withdraw funds without a Korean ID. There are better options for everyone else: Binance, Kraken, Coinbase, or KuCoin. All of them support English, global KYC, and international withdrawals.

Bithumb is not a bad exchange. It’s just not for you - unless you live in Seoul, Busan, or Daegu.