Bitkub is a popular name among crypto enthusiasts in Thailand. It was created in February 2018 and is currently the second-largest exchange in Thailand in trade volume. It is owned by Bitkub Capital Group Holdings, an organization that has successfully raised over ten million dollars in funding rounds over three years.

In this article, we will review salient points about the exchange and guide you in determining if it can work for you. Are you ready to take in more knowledge? Let’s start.

The exchange allows users to buy more than fifty coins directly from their bank accounts. The process of buying crypto is very straightforward. Users simply need to register their bank accounts with the exchange and perform a wire transfer to the exchange’s account. Once that is done, their crypto account will be credited with the selected coin in the corresponding amount.

This section is where the supported coins can be traded against THB, the main currency. The spot trading interface consists of detailed charts sponsored by TradingView and analytics that offer expert opinions on market events. There are three main order types on the spot exchange interface.

They are the limit order, the market order, and the stop-limit order types. The stop-limit order type is not available for all coin pairs. It is only reserved for those with the most liquidity, like Bitcoin and Ethereum.

There are currently 58 coins listed on the Bitkub exchange. They are Bitcoin, Ethereum, Wancoin, Decentraland, the Sandbox, Axie Infinity, Balancer, Litecoin, Ripple, Bitkub Coin, Binance Coin, Tether, Stellar, etc.

All the coins listed on the exchange are traded against THB on the spot market. Some coins are listed on the exchange but are not traded because of liquidity. The coins are Donnie Finance(DON), Cortex Coin(CTXC), Boba token, Illuvium(ILV), Songbird, and GuildFi.

The only accepted method of fiat deposit on Bitkub is wire transfer. To facilitate seamless conversion of fiat to crypto, the exchange has partnerships with almost every bank in Thailand. All that is needed from the users is to register their bank accounts with the exchange and become authorized to transact via wire transfer. Once that is done, deposits and withdrawals are a piece of cake.

There are two main methods of depositing THB into your Bitkub account. They are:

Deposits do not attract fees except the processing fees paid to the involved banks.

Bitkub has a special arrangement with Kasikorn bank. Thus, if you choose to withdraw through that bank, you can withdraw a maximum of 5,000,000 THB at once, as opposed to a maximum of 2,000,000 with other banks. The withdrawal fees also vary. For Kasikorn bank, the withdrawal fee is a flat 20 THB regardless of the amount you want to withdraw, while the following rates apply for other banks:

Cryptocurrency withdrawals and deposits follow the standard industry procedure.

Bitkub charges a flat 0.25% fee across all maker and taker orders on the exchange. Even though this rate is standard for all trades, Bitkub offers ways to cut back on the fees. One of such ways is by referring someone to the exchange. When you refer someone, you get 20% cashback off any trade they make.

Another way Bitkub reduces trading fees is by giving fee credits from time to time. Fee credits are trading fee discounts given to certain users from time to time. They are not useful for any other activity except as discounts. Bitkub gives these out to participants in periodic trading events and to other users who meet the criteria.

Yes, Bitkub requires that users complete KYC before trading on the platform. Without the KYC verification, you can’t make deposits of any currency, either fiat or crypto. Also, the process is not only open to Thai citizens but also foreign nationals. As we move on in our discussion, we will consider the step-by-step verification process.

There are four levels of verification:

Even though Thailand is the main supported country on Bitkub, residents from other countries can still trade freely on the exchange. The following countries are listed on the website as countries with available SMS OTP services:

Afghanistan, Albania, Belgium, Bulgaria, Canada, Chad, Czech Republic, Denmark, France, Germany, Georgia, Hungary, Hong Kong, Ireland, Israel, Kazakhstan, Kenya, Japan, Malta, Mexico, Nigeria, the United States, Norway, Paraguay, The United Kingdom, Portugal, Romania, Singapore, Slovakia, South Africa, Spain, Sweden, Ukraine, Yemen, Venezuela, and 52 other countries.

The first step, of course, is registration. As you’ll find out, this is a straightforward process. To start the process, click on the ‘Open Account’ tab at the top of the website. This will lead you to another page where you will be required to enter your email address and a strong password to open your account. After that, click ‘Join Bitkub.’ To complete the registration process, you will be asked to verify your email address by clicking on the link sent to it. Once that is done, you’re good to go!

VERIFICATION: The verification process is for both Thai citizens and foreign nationals. To verify your account, log in to your account and click on ‘Account Verification’ on your dashboard. From there, follow the prompts as they guide you through the verification process.

Yes, Bitkub has a native token called KUB. It is used to provide fee discounts and credits on the Bitkub exchange. Also, it gives staking rewards for holders and is used as a gas fee in the Bitkub chain ecosystem. It has a maximum supply of one trillion coins and was trading at around ten dollars in the crypto markets when this article was written.

Being a reputable exchange in Thailand, Bitkub has employed many security protocols to ensure the safety of users’ funds. Some of those protocols are:

The answer is an emphatic YES. Bitkub is fully regulated under the Thailand Government. In fact, it states on its website that it has fully paid a registration capital of 290 million THB, making it one of only two crypto exchanges that did that in the early days of 2019.

It is clear now that Bitkub is one of the major exchanges in Thailand. It offers unparalleled fiat-to-crypto conversions and provides security features that put the mind of investors at ease. Why not consider if it could work for you. If not, check out other exchanges reviewed on this website.

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The only supported fiat currency is the Thai Baht(THB).

The exchange allows users to buy more than fifty coins directly from their bank accounts. The process of buying crypto is very straightforward. Users simply need to register their bank accounts with the exchange and perform a wire transfer to the exchange’s account. Once that is done, their crypto account will be credited with the selected coin in the corresponding amount.

With a 24-hour trade volume of over 104 million dollars or 2,150 BTC, Bitkub surely commands the presence of millions of users from both Thailand and abroad.

Yes, it does. There are two main methods of depositing THB into your Bitkub account. They are:

No, you can’t currently do that on the exchange.

It is based in Bangkok, Thailand.

The post BitKub Review – Fees, Supported Coins & Countries, Payment Methods, KYC appeared first on CaptainAltcoin.

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