Bitkub Exchange Review
Bitkub is a centralized exchange that occupies #89 on Guru InvestingExchange Tracker. Bitkub has trading volume US$58,898,993 in the last 24 hours and US$18,201,011,320 in the last 7 days.
Bitcube currently has 103 cryptocurrencies, 1 paper currencies and 101 markets (cryptocurrency trading pairs). The most popular trading pair on Bitkub is USDT/THB.
Compare Bitcube next to other exchanges here: Exchange comparison tool.
Cryptocurrency exchange Bitkub was founded in February 2018 with the aim of introducing blockchain and cryptocurrency services to users in Thailand. The exchange platform provides a range of services including cryptocurrency exchange via multi-cryptocurrency wallets, multiple payment gateways, user-friendly analysis tools, access to quality crypto assets and much more. Platform official license to operate from the Thai government.
To identify and verify its users, the Bitkub crypto exchange uses a reliable Know your customer (KYC) verification system. All trading accounts must be opened individually as the company does not support third party accounts or trading. It also does not support anonymous accounts or accounts with fictitious names. All users are required to verify their phone numbers and email addresses and upload a copy of their government issued ID. Additionally, although the platform is based in Thailand, users from all over the world can transact on it, however, they must do so using Thai baht (Official currency of Thailand).
Markets
As mentioned earlier, all trading and other activities are carried out using Thai baht or THB. This is because the THB market is the only market available on the platform. Bitkub cryptocurrency exchange supports spot trading. With this feature, supported coins and tokens can be exchanged for THB. There are more 75 Bitkub trading pairs available. These include Bitcoin, Ethereum, Tether, DogeCoin, Ripple, Bitkub coin and much more. The platform does not currently support margin or leverage plans.
In addition, the Bitkub site supports limit orders, market orders and stop-limit order types. However, the stop limit order type is only available for the coin pairs with the most liquidity, such as Bitcoin and Ethereum. Additionally, there are coins that are listed on an exchange but are not traded due to liquidity. Coins include Donnie Finance (DON), Cortex Coin (CTXC), Illuvium (ILV), Songbird, and GuildFi.
The Bitkub cryptocurrency exchange has its own token called CUBE and its maximum supply is 1 trillion tokens. The KUB token is used to provide trade discounts and credits to users who hold it in their wallets. It can also be used as staking rewards and as gas fees in the Bitkub Chain ecosystem. Check Bitkub cryptocurrency price now Here.
Deposits on the Bitkub crypto exchange can be made through by bank transfer or QR code method. For bank transfers, although there is no maximum amount that can be deposited, the minimum Bitkub cryptocurrency price for deposits is 40 thousand baht and it takes about 3 business days before the deposit is cleared and credited. The QR method is faster as it only takes 24 hours, has a minimum deposit of 40 baht and no maximum deposit amount. There are no Bitkub exchange fees for deposits. However, banks charge processing fees incurred on bank transfers.
The platform charges withdrawal fees for all withdrawals made on the platform. By special agreement with Kasikorn Bankusers pay only 20 baht per withdrawal. The maximum daily withdrawal limit for users using Kasikorn Bank is 5 million baht, while other banks have a maximum of 2 million baht. Other banks charge a 20 baht fee for withdrawals under 100,000 baht, and 75 baht for withdrawals above this range. However, withdrawals between 500 thousand baht and 2 million baht are subject to a 200 baht fee.
Bitkub exchange fee includes Trading commission 0.25% on all trades. However, there are various ways to get a discount on these fees. These methods include holding the KUB token, commission credits, and referring friends or family to the platform. As an added bonus, you get 20% cashback on transactions they make. Bitkub cryptocurrency fees may change from time to time and may depend on Bitkub volume or other factors.
other services
The platform has indexing service. It was created as a digital asset index with the aim of offering a benchmark and deeper understanding of the movement of digital assets traded on the Bitkub crypto exchange. The index service consists of two indexes: Bitkub Daily Index (BITKUBDAY) and Bitkub Real-Time Index (BITKUB).
Published at 17:00 (GMT+7) every day, BITKUBDAY measures and calculates daily cryptocurrency exchange rates against Thai Baht for assets traded on the platform. On the other side, BITCUBE measures cryptocurrency rates against the Thai Baht for assets traded on Bitkub on a minute-by-minute basis. Different time frames are available for both indices.
Bitkub cryptocurrency exchange also supports staking activity. Users can stake their KUB tokens for rewards in the form of more KUB tokens and a discount on Bitkub exchange fees.
About company
Bitkub was founded in 2018 in Thailand. Jirayut Srupsrisop. It is one of the largest trading platforms in Thailand with a registered capital of 290 million baht. Bitkub’s trading volume averages 3,520 BTC per day. at the time of writing this article. In the first nine months of 2021, the company made a profit of about 1.53 billion baht on revenue of 3.28 billion baht. Between November 2021 and November 2022, Bitkub’s trading volume reached a high level, exceeding $700 million.
In November 2021 Siamese Commercial Bank acquired 51% of Bitkub, becoming Thailand’s second unicorn technology company. A unicorn technology company is a company that is valued at more than $1 billion.
Jirayut Srupsrisop He is also the CEO of Bitkub Capital Group Holdings, the parent company of Bitkub.com and Bitkub Blockchain Technology. Apart from Bitkub, he also co-founded coin.co.th, one of the leading Bitcoin wallet solutions in Thailand. Before blockchain, Jirayut worked as an investment banker, financial consultant and central banker. Also, note that he holds a Master’s degree in Economics from Oxford University.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
