Bitstamp vs Bithumb: A Foreign Exchange Comparison

ByNick Mitchell Updated on

*Please note that Bithumb no longer accepts customers outside of South Korea.

Join us as we run you through a quickfire comparison of cryptocurrency exchanges, Bitstamp of Luxembourg, and Bithumb of South Korea. Let’s go!

Fees

The High Cost Of Bitstamp

  • Expensive maker-taker fees starting at 0.5%
  • 0% fees when trading over $10m per month
  • Free deposits
  • Crypto withdrawal fee: gas only
  • Other fees

Bithumb Global’s Trading Fees

  • Bithumb offers three platforms: Bithumb (South Korea), Bithumb Global, and Bithumb Singapore. Below are Bithumb Global’s fees.
  • Cheap maker-taker fees of just 0.1%
  • Fixed fees forever (no trading volume-based discounts)
  • Free crypto deposits
  • Small crypto withdrawal fees

Winner: Bithumb wins.

Sign Up & KYC Experience

Joining Bitstamp

bitstamp sign up
  1. Visit Bitstamp.com, click ‘Register,’ and choose ‘Personal Account’.
  2. Provide your name and an email address.
  3. Complete the CAPTCHA form and continue.
  4. Go to your email inbox.
  5. Find a client ID from Bitstamp.
  6. Type this ID in your registration form.
  7. Log in and provide a strong password.
  8. Find the ‘Verify Your Account’ tab.
  9. Choose ‘Personal Verification.’
  10. Give your name, address, nationality, and D.O.B.
  11. Upload a photo of your ID (passport preferred).
  12. Upload a scan with proof of address, such as a utility bill.
  13. Answer some personal questions about income and occupation.
  14. Wait for confirmation.

Joining Bithumb Global

bithumb sign up screen
  1. Visit Bithumb.pro and click ‘Register.’
  2. Give an email address and password.
  3. Click ‘Send Code.’
  4. Go to your email inbox.
  5. Code and paste the sign-up code.
  6. Accept Bithumb’s Global Agreement.
  7. Set up Two-Factor Authentication via mobile app or SMS.
  8. Deposit and trade up to 5 BTC per day without KYC checks.
  9. For KYC verification, find ‘Profile,’ click ‘Lv.2’ and choose ‘Submit Information.’
  10. Type your name, D.O.B, gender, ID type, and number.
  11. Upload photos of the front and back of your ID.
  12. On a piece of paper, write ‘Bithumb Global’ and today’s date. Take a selfie with it when asked.
  13. Wait for confirmation.

Winner: Bithumb is the winner for their KYC-free trading.

Ease of Use and Feel of Website/App

Bitstamp, Suitable For All?

  • Great reviews regarding user experience and customer support
  • Many report it as the best platform for cashing out your crypto
  • Great levels of legitimacy
  • Multiple trading interface options
  • Easy verification process
  • iOS & Android apps
  • US-trader friendly

Enjoyable Bithumb

  • Excellent iOS & Android apps
  • Live chat support in English
  • Three trading platform viewing options
  • BTC dominance of just 12% (approx)
  • High liquidity for altcoins
  • Rewards-based educational platform to earn crypto and support new projects
  • Friendly to US traders

Winner: Tie.

Deposit Methods

Bitstamp Deposits

No deposit fees via:

  • EUR (SEPA)
  • USD (ACH)
  • GBP (Faster Payments)
  • Crypto: BTC, XRP, LTC, ETH, BCH, XLM, PAX, LINK, OMG, USDC

Charged deposits:

  • International bank wire: $7.5, €7.5, £5 flat fee, or commission of 0.05% (the greater amount is taken)
  • Other fiat currencies can be deposited but incur a forex charge

Bithumb Deposits

No deposit fees via:

Winner: Bitstamp is better for international users.

Instant Buy Options

Buying From Bitstamp

  • Instant purchase via credit card, with 5% fees:
  • Very small spread (the difference between market price and Bitstamp’s selling price)

Bithumb Instant Buy

  • 35 fiat currencies accepted
  • 15 cryptocurrencies for sale via credit and debit card with variable charges
  • Each currency and payment gateway is compatible with different crypto

Winner: Both crypto exchanges are versatile.

Trading Experience

Bitstamp: Still Popular?

  • Very popular for European traders
  • 5m+ traders in 100 countries
  • 51 trading pairs
  • Only 16 cryptocurrencies
  • Multiple cryptocurrency exchange trading interfaces, based on user competency
  • Popular mobile apps
  • No margin trading
bitstamp
Simple trading interface

Bithumb’s Big Selection

  • All major market cap currencies featured
  • 298 trading pairs
  • 226 coins
  • KYC-free trading 
  • Poor reviews due to language issues
  • Lower liquidity than Bitstamp by comparison
  • Lower daily trading volume
  • Margin trading (10x)
  • Web and mobile trading
advanced trading bithumb
Advanced trading interface

Winner: Bithumb offers a better deal.

Reputation & Security

Bitstamp’s Strong Recovery

  • Hacked in 2015 for 19,000 BTC (worth $5m at the time, around $1bn now)
  • Paid back victims from their own reserves
  • Not hacked since, much-improved reputation
  • Recognized as the best off-ramp in crypto by many

Bithumb Security

  • Hacked three times:
    • 2017: $7m Bitcoin and Ethereum, as well as 30,000 customer data sets
    • 2018: $30m Ripple
    • 2020: $6m Ripple, $13.4m EOS
  • Seen as an easy target by North Korean hackers (Lazarus Group)

Winner: Bitstamp’s reputation is better right now.

Bitstamp vs Bithumb: Can We Split These Two Crypto Exchanges?

As a cryptocurrency exchange and trading platform with low trading fees, Bithumb wins. But when it comes down to the overall package, considering security, legitimacy, and fiat currency compatibility, we choose Bitstamp.

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