Bitkub Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A crypto exchange, also known as a cryptocurrency exchange or digital currency exchange, is a platform that allows individuals to buy, sell, and trade various cryptocurrencies or digital assets. It is essentially a marketplace for buying and selling cryptocurrencies, similar to how traditional stock exchanges function.

Cryptocurrency exchanges facilitate the trading of one cryptocurrency for another, as well as the exchange of cryptocurrencies for fiat currency (such as USD, EUR, or JPY). Users can place buy and sell orders for a particular cryptocurrency, and the exchange matches the orders, resulting in a transaction.

Crypto exchanges may vary in terms of the cryptocurrencies they support, the fees they charge, and the level of security they offer. Some exchanges may also provide additional features such as margin trading, staking, or lending services.

It is important to note that crypto exchanges are not regulated in the same way as traditional financial institutions, so users should exercise caution and do their own research before using an exchange to buy, sell or trade cryptocurrencies.

What Is Bitkub Crypto Exchange ?

Founded in February 2018, Bitkub is a next-generation exchange platform for trading digital assets. by providing superior services to the general public to be able to buy Sell ​​and store digital assets as needed company is legally registered with a registered capital of 290 million baht and has an office located in Bangkok, Thailand.

Bitkub Crypto Exchange Quick Facts

How To Register At Bitkub Exchange?

To register on Bitkub , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Bitkub Exchange Supported Countries

Bitkub Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are theUnited States, Canada, United Kingdom, Australia, in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Bitkub .

How To Verify Your Bitkub Cryptocurrency Account ?

There is no mandatory verification at Bitkub , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitkub , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Bitkub Crypto Exchange?

There are two main options for topping up your balance on Bitkub . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Bitkub Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Bitkub Account ?

There are several steps you can take to help secure your Bitkub account and protect your funds:

1. Enable two-factor authentication (2FA): Bitkub offers 2FA using Google Authenticator or SMS verification. Enabling 2FA adds an extra layer of security to your account by requiring a verification code in addition to your login credentials.
2. Use a strong and unique password: Make sure to use a strong password that is difficult for others to guess. Avoid using common words or phrases and instead use a combination of letters, numbers, and special characters. Also, use a unique password for your Bitkub account that you do not use for other online accounts.
3. Keep your account information private: Do not share your Bitkub login credentials or 2FA codes with anyone, and be cautious of phishing scams that may try to trick you into giving away your account information.
4. Monitor your account activity: Regularly check your account activity and transaction history to ensure that there are no unauthorized transactions. If you notice any suspicious activity, report it to Bitkub immediately.
5. Secure your device: Make sure to keep your device and software up-to-date with the latest security patches and antivirus software. Avoid using public Wi-Fi or shared computers to access your Bitkub account.
6. Withdraw your funds to a secure wallet: Consider withdrawing your funds to a secure hardware wallet to store your cryptocurrencies offline, away from potential hackers.

Fees taken when buying virtual currency

Bitkub Trading fees

This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. They have set their flat fee at 0.25% which is exactly in line with global industry average. In other words, the trading fees are not bad, but not a competitive advantage either.

Bitkub Withdrawal fees

The withdrawal fees at this exchange when withdrawing BTC is 0.0002 BTC. This is lower than the global industry average BTC-withdrawal fee which is 0.0008 BTC (but constantly decreasing as exchanges make their offerings more attractive). Accordingly, the withdrawal fee is competitive.

Deposit Methods

At the moment, Bitkub’s main deposit method is through wire transfer, bank accounts from almost every Thailand banks are welcomed. The deposit and withdrawal time ranges from 5  minutes up to 2 hours. The time depends largely on the bank as well as the time of the transactions.

One of the best features of Bitkub is its 24/7 support services and hotline. The support function works 24 hours every day including weekends. The supporting system makes it easier for traders to ask questions, send suggestions and solve their problems as soon as possible, instead of having to wait for the office hours.

Trade On Go Bitkub Is 100% Mobile Friendly

Yes, Trade On Go is a mobile trading platform offered by Bitkub that allows users to trade cryptocurrencies using their mobile devices. It is a 100% mobile-friendly platform that can be accessed through a mobile web browser or by downloading the Trade On Go mobile app, which is available for both iOS and Android devices.

Trade On Go offers many of the same features and functionalities as the desktop version of the Bitkub exchange, including the ability to buy, sell, and trade cryptocurrencies, view real-time market data, and manage account settings.

The mobile platform is designed with a user-friendly interface that makes it easy to navigate and perform trades on-the-go. Additionally, Trade On Go offers enhanced security features such as two-factor authentication (2FA) and SSL encryption to protect user funds and personal information.

Overall, Trade On Go is a convenient and reliable mobile trading platform that allows Bitkub users to trade cryptocurrencies anytime, anywhere using their mobile devices.

How To Contact Bitkub Customer Support Team?

If you need help with your Bitkub account or have any questions, you can contact Bitkub customer support through the following methods:

1. Live chat: Bitkub offers a live chat feature on their website that allows users to chat with a customer support representative in real-time. Simply click on the chat icon on the bottom right-hand corner of the website to initiate a chat session.
2. Email: You can also send an email to Bitkub’s customer support team at [email protected]. Be sure to include a detailed description of your issue or question, as well as your account information if applicable.
3. Phone: Bitkub provides a phone number that you can call to speak with a customer support representative. The phone number is +66 2-032-9555, and is available from 9:00am to 5:00pm (UTC+7) on weekdays.
4. Social media: Bitkub also maintains social media accounts on platforms like Facebook, Twitter, and Instagram. You can send a message to their social media accounts and a representative will respond as soon as possible.

Features Of Bitkub Crypto Exchange

Register Capital 290 Million

Register your business properly with a registered capital of 290 million baht

Buying and Selling Cryptocurrencies

Bitkub currently supports the trading of 80 different cryptocurrencies including Bitcoin, Ethereum, Tether and Cardano.

High Reward Referrals Program

To incentivise users to refer their friends, Bitkub offers an attractive referral program. If you refer a friend to the platform they get 20% cash back and you will receive 80% commission on their fees.

User-friendly Interface

Bitkub has a user-friendly interface that makes it easy for users to buy, sell, and trade cryptocurrencies. The platform is designed with a simple and intuitive interface that is suitable for both novice and experienced traders.

High liquidity

Bitkub is one of the largest cryptocurrency exchanges in Thailand, offering high liquidity and fast trade execution times.

Competitive fees

Bitkub charges competitive fees for trading and depositing cryptocurrencies. The fees are calculated based on the transaction volume and are generally lower than other exchanges in the region.

24 Hours Services

Service with sincerity and ready to help customers with every problem, every question, all the time.

Referend A Friend

Invite friends to trade together for Get up to 20% cashback

Safety

They prevent DDoS attacks by encrypting data and keeping most of the coins in offline storage.

Trading System Coverage

Their trading system is built for speed and API can support any project seamlessly.

24/7 Live Support 

It is one of the only Thai exchanges to offer 24/7 live customer support.

Bitkub Good Or Bad Points

Bitkub has several good points as well as some areas for improvement. Here are some of the pros and cons of Bitkub:

Good points:

1. User-friendly interface: Bitkub has a user-friendly interface that makes it easy for users to buy, sell, and trade cryptocurrencies.
2. High liquidity: Bitkub is one of the largest cryptocurrency exchanges in Thailand, offering high liquidity and fast trade execution times.
3. Wide range of cryptocurrencies: Bitkub offers a variety of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, Ripple, and many others.
4. Competitive fees: Bitkub charges competitive fees for trading and depositing cryptocurrencies. The fees are generally lower than other exchanges in the region.
5. Mobile trading platform: Bitkub offers a mobile trading platform called Trade On Go that allows users to trade cryptocurrencies on-the-go using their mobile devices.
6. Security measures: Bitkub uses advanced security measures such as two-factor authentication (2FA), SSL encryption, and cold storage for user funds.

Bad points:

1. Limited global availability: Bitkub is currently only available to users in Thailand and a few other countries, limiting its global reach.
2. Customer support: Some users have reported issues with Bitkub’s customer support, citing slow response times and unhelpful responses.
3. Limited trading pairs: Bitkub offers a limited number of trading pairs compared to other exchanges, which may limit trading options for some users.

Is Bitkub Is Safe Platform To Trade ?

Yes, Bitkub is widely regarded as the safest Thai cryptocurrency exchange. It takes the security of all its users’ information as its top priority, ensuring the information provided by its users remains confidential between both parties. It has incorporated Two-factor authentication (2FA) into its design to prevent unapproved entering of usernames and passwords. 

A majority of the exchange funds are stored offline in cold storage to prevent any hacking incidents. The platform has never been subjected to a cyber attack in its 5 years of operation due to its high-security measures. All traffic runs on encrypted SSL (https) and all data is encrypted digitally.

Bitkub Conclusion

In conclusion, Bitkub is a reputable and user-friendly cryptocurrency exchange that offers a range of features for its users. With a wide range of cryptocurrencies, high liquidity, and competitive fees, Bitkub is a popular choice for traders in Thailand and other countries. The platform is designed with a simple and intuitive interface that is suitable for both novice and experienced traders.

FAQ