What is Bitkub?
Founded in 2018, Bitkub was one of the very first exchanges to acquire a license for digital assets from the SEC in the country it is based, which it claims to have also become the biggest cryptocurrency exchange.
Furthermore, the exchange is relatively new and has yet to provide a larger suite of features. It, therefore, does not come with futures or derivatives trading, unfortunately. However, what you do get are market and limit orders here, which may be enough for casuals or most traders out there.
Where is Bitkub located?
From what we have gathered, the exchange is based primarily in Thailand.
Who created Bitkub?
Jirayut Srupsrisopa is the main co-founder behind Bitkub.
Who owns Bitkub?
Bitkub is operated and owned by the firm known as Bitkub Online Co., Ltd., which, itself, is also under a parent group called Bitkub Capital Co., Ltd., or Bitkub Capital Group Holdings.
Is Bitkub available in US?
Due to being based in Bangkok, which is the most visited city in the world, Bitkub welcomes users or traders of every nationality or whoever has an interest in trading cryptocurrencies using THB.
However, one thing that must be noted here is that, according to its User Agreement Policy, every THB deposit has to be made in Thailand so that the firm can “examine the source of the funds that are deposited on its website.” Thus, deposits made in currencies that are foreign to Thailand or originate from outside the country will not be accepted.
So, if you are from the US but based in Thailand, then there shouldn’t be a problem.
Is Bitkub legit?
Bitkub is a regulated exchange and is therefore authorized by the SEC in Thailand to function as a virtual asset exchange in the country. Moreover, it has also been registered alongside seven other subsidiaries that the Bank of Thailand supervises.
Bearing all this in mind, Bitkub has thus established itself as a legitimate cryptocurrency exchange within Thailand by aiming to offer a safe trading platform for its users.
Is Bitkub safe?
Based on what has been said earlier, along with the other security measures it employs, it should be safe to assume that the exchange can be a secure place to trade and store one’s funds. These security measures, for example, include 2FA to prevent the unapproved entry of passwords and usernames and the fact that most of the users’ funds are stored in cold storage.
Then there is the insurance policy it has implemented as well, which can cover up to exactly five million THB should there be any losses arising due to cyberattacks.
However, despite what has been said so far, one thing to note is that it was fined by the SEC at one point for approximately 3.97 million baht for operating a less secure system. Still, that was in 2021, and chances are it may have resolved things by now.
Pros and Cons of Bitkub
There are a couple of things that may make it worthwhile for users to look into this exchange.
- For example, there is the fact that it is regulated and compliant with AML or KYC measures, which do their own part in maintaining security.
- Additionally, the exchange has incorporated a ton of local banks within Thailand, increasing accessibility for users in Thailand.
- Its customer support team can also respond quickly to complaints. And it has a user interface that isn’t that hard to navigate if you are a beginner.
However, there are things that may hinder certain users from trading on this exchange, such as,
- Its limited trading options and geographic availability, as it doesn’t cater that much to non-Thai users and THB is the only currency that can be paired with tokens.
- And finally, there is its cryptocurrency selection, which might be limited when compared to some of its larger competitors.
How to buy crypto on Bitkub?
As stated previously, its trading options are limited. In other words, there aren’t as many ways to buy tokens on this exchange as you may like. Nonetheless, let’s look at how you can buy some cryptocurrency here using the options that are provided.
Step 1. Register
If you want to buy tokens here or anywhere else, for that matter, you will have to sign up for an account. So, head over to its official website, click that Open Account button at the top, and follow the steps asked of you, like entering your email address, setting up a strong password, agreeing to its terms, etc., to get done with the registration process.
Step 2. Complete KYC
Now that you have created your account, you will need to complete KYC if you want to ever be able to withdraw your funds. So, log in to the account you just created and select Verify Now from your dashboard to begin the verification process.
You will notice that the exchange has different verification tiers—up to three, in fact. Click the Verify button for the first verification level, which will entail you providing your Thai citizen ID card and selfie, or your passport and selfie if you are a foreigner, along with some additional documents.
Follow the instructions outlined in this step, such as reading and understanding FATCA, among others, and fill out all of the fields required to complete the first verification level on Bitkub. Once you have done so, you can complete the rest of the levels if you want to increase your withdrawal limit as much as possible.
Step 3. Add Bank Account
After KYC, you have to add a bank account so that you can deposit some THB and start trading. So, click Account Settings at the upper right, head over to the Bank Accounts tab, and select Add Bank Accounts. After you have submitted all the necessary bank information, like the names of your bank, bank branch, bank account, and more, click Submit. Then, just wait for the verification of your bank account to be fully processed, which may take up to 24 hours.
Step 4. Fund Account
Once your bank account has been verified, you can now deposit some THB, which you will need for trading. So, click that Wallet icon towards the top of the homepage, click the Deposit button within the THB field, and select the type of deposit you want to make, i.e., either Mobile Banking or Transfer THB.
Here, we will be looking at the mobile banking option, which is the quicker one of the two. So click on it and enter the amount you wish to deposit. Read and then accept the rules pertaining to your deposit, after which, click Deposit Now.
Following that, a QR code will be generated specific to the deposit amount you just entered. So, scan that code with your banking application, which should be able to support the feature, and your deposit will then be sent to Bitkub, taking anywhere between 1 minute and 24 hours.
Step 5. Place Your Order
Now that you have acquired some THB, you can finally buy any of the tokens it supports. Just head over to Bitkub’s trading page by clicking Market on its homepage. On the trading page, you can place a market order by selecting the token you wish to purchase and entering the amount you want to buy or spend in THB. Your order will be processed instantly once it has been placed. And that’s it; this is how you can quickly buy cryptocurrencies on Bitkub.
How to deposit on Bitkub?
To deposit cryptocurrencies, click that Wallet icon again, and this time, choose the Deposit button for a cryptocurrency instead of THB, like BTC or ETH, for instance. Doing so will produce a unique wallet address for that token. Copy and then paste it on the exchange or wallet you are initiating the transfer from.
How to withdraw on Bitkub?
Follow the same steps highlighted earlier for making deposits, but this time select the Withdraw option for the token. Following this, enter the amount you want to withdraw and other information, like the receiving wallet address and the destination or memo tag if the token comes with one.
Here, the receiving wallet address will essentially be the deposit address for the exchange or wallet you are transferring to. So, you might want to head over there first to copy those addresses and tags.
Click Withdraw once you have entered everything, and you will then be sent an email asking you to confirm your withdrawal. Once you have done so, just wait for the transaction to be fully processed.
How to transfer from Bitkub to Binance?
Follow the withdrawal steps outlined earlier to transfer funds from Bitkub to Binance.
How to transfer Baht from eToro to Bitkub?
Since eToro supports THB, you can use your bank account to withdraw funds from there and then deposit them on Bitkub by going through the steps mentioned previously.
How to buy Optimism on Bitkub?
On the Bitkub trading page, simply look for Optimism (OP) in the search bar and place either a market or limit order if you want to purchase it.
What coins does Bitkub support?
From what we have gathered, the exchange supports around 90 tokens.
Bitkub Exchange Review Review
Review and basic information of Bitkub Exchange Review are as follows.
|Crypto Exchange Basics||Bitkub Exchange Review|
|Exchange Representative (Founder)||Jirayut Srupsrisopa|
|Bitkub Exchange Review Launch Date||2018-02|
|Number of Tradable Crypto Pairs||84 Pairs|
|Weekly Visits||281,304 Users|
|Overall Rating||⭐ 3.8 / 5.0|
The rating result at the top is the result of Coin-Labs.com's overall evaluation of Bitkub Exchange Review.
Bitkub Exchange Review was rated in seven categories: fees, diversity and quality of the services provided, security capabilities, etc.
Bitkub Exchange Review Fee 2023
The fees charged to you for transactions at Bitkub Exchange Review are as follows.
|Maker/Taker Fees||Bitkub Exchange Review Transaction Fees|
|Spot Maker Fee||0.25%|
|Spot Taker Fee||0.25%|
|Derivatives Maker Fee||0.25%|
|Derivatives Taker Fee||0.25%|
The fees shown in the table above are Bitkub Exchange Review transaction fees charged to a regular user.
Bitkub Exchange Review Trading Volume
Trading Volumes of Bitkub Exchange Review are as follows. (Based on CoinMarketCap 2023-05-25 14:41:11 data)
|Trading Volume Items||Bitkub Exchange Review Trading Volume|
|Daily Trading Volume (24h)||28,538,866,663 KRW|
|Weekly Trading Volume (7d)||193,114,729,647 KRW|
|Monthly Trading Volume (30d)||858,390,007,417 KRW|
|Daily Volume Change (24h)||31.36%|
|Weekly Volume Change (7d)||-16.97%|
|Monthly Volume Change (30d)||14.44%|
Communicate with Bitkub Exchange Review
You can check exchange's messenger and SNS information in the table below.
Who founded Bitkub Exchange Review exchange?
Bitkub Exchange Review was founded in 2018 by Jirayut Srupsrisopa.
Where is Bitkub Exchange Review located?
Currently, Bitkub Exchange Review's headquarters is known to be located in the Thailand.
How many cryptocurrencies are tradable on Bitkub Exchange Review?
If you join Bitkub Exchange Review, you can trade a total of 84 crypto pairs.
How much is Bitkub Exchange Review trading fee?
Bitkub Exchange Review has a spot maker fee of 0.25% and a taker fee of 0.25%. On the other hand, the maker fee for futures trading is 0.25% and the taker fee is 0.25%. Please note that these fees are for regular users, and the higher your membership level within Bitkub Exchange Review, the lower the fees.
How much is Bitkub Exchange Review trading volume 24h?
Bitkub Exchange Review's trading volume 24h is 28,538,866,663 KRW. Furthermore, the daily trading volume is showing a 31.36% change from the previous day.
How much is Bitkub Exchange Review weekly trading volume?
Bitkub Exchange Review's weekly trading volume is 193,114,729,647 KRW, with a total of 281,304 users. Furthermore, Bitkub Exchange Review's weekly trading volume is showing a change of -16.97% from the previous week.
How much is Bitkub Exchange Review monthly trading volume?
The monthly trading volume of Bitkub Exchange Review is 858,390,007,417 KRW. Furthermore, this month's trading volume is showing a change of 14.44% compared to the previous month.