Wednesday, September 25, 2021

Bithumb Announces Revamped Platform With New Fiat-to-Crypto Options

Seoul-based cryptocurrency exchange Bithumb has launched an upgraded version of its global website. According to a company announcement, the South Korean exchange says it’s now out of beta as it launches a revamped exchange interface, which is accessible on both mobile and web platforms. 

The release contains Bithumb’s commitment to ensuring a fair and transparent trading ecosystem; one where customers can provide feedback and recommendations for their service needs and where they can rest assured that they’ll be acted upon. 

According to Bithumb, the new platform contains a bevy of aesthetic improvements, including a more user-friendly interface and updates to graphics. 

It also features functionality optimizations, such as enhanced transaction speed, peer-to-peer trading improvements and easier wallet management. There are also new fiat-to-crypto on-ramps that allow users to purchase digital assets with their credit cards on their desktop or through the mobile app. Prior to this, fiat deposits were only available to Korean residents while others had to deposit cryptocurrencies to trade on Bithumb. 

“The new site includes tweaks on all areas for improved user experience. Users will notice a change with the site layout that prioritizes the most important information,” Bithumb stated, adding that improved ticker boxes, better color contrasts and enhanced site navigation will help take out clutter and increase accessibility. 

The exchange will also now accommodate Japanese language support, bringing its tally of supported languages to four (in addition to English, Chinese and Korean).

Bithumb Revamping and Looking to the Future

The launch is coming on the heels of several expansion efforts from Bithumb as it looks to put the repeated security breaches it has suffered behind it. The data of 30,000 Bithumb customers was compromised in a July 2017 hack. A year later, around $30 million worth of cryptocurrency was stolen from Bithumb’s hot wallet. The exchange lost about $20 million and $13 million worth of cryptocurrency in March 2019 and April 2019, respectively. It eventually did its bit to recover the funds, collaborating with popular exchanges such as Huobi, Changelly, ChangeNow and CoinSwitch to freeze them. 

Since then, Bithumb has embarked on a continuous expansion path. It acquired Singaporean exchange Bitholic in August 2019, with the latter then changing its name to Bithumb Singapore.

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