Bitkub Review: Top Crypto Exchange In Thailand With Many Outstanding Services
Bitkub Online Co. Ltd or Bitkub.com, is the second largest exchange in Thailand in terms of volume and traffic. Bitkub was launched in February 2018, closing the largest seed investment round in Thailand’s startup history. Together with Satang Pro, Bitkub Online is one of the two currently operational exchanges that were officially licensed by the Thailand Government earlier in January 2019.
It is the second-largest crypto exchange in Thailand by trade volume. The exchange is deeply incorporated into the Thailand banking system, making it easy to convert fiat to crypto.
Bitkub has a referral program in which it rewards referrals with 20% cashback and it is one of the first two crypto exchanges to be officially licensed by the Thailand Government, the second is Satang Pro. The only fiat currency of the exchange accepted is the Thailand Baht (THB).
Even though it is based in Thailand, its services are available to traders worldwide, as long as you’re comfortable trading with the Thailand Baht as a fiat currency. Now, the Bitkub Review article will explore information about the exchange.
This Bitkub review will go through the key aspects of the exchange so you can decide whether the exchange is the best option for you or whether you’re better off using a different reputable cryptocurrency exchange. Here is a brief summary of the exchange’s advantages and disadvantages.
| Pros | Cons |
| Registered under the law in Thailand | The only fiat currency is THB |
| Having a mobile application that runs on Android and iOS | The exchange doesn’t support a lot of cryptocurrencies |
| The customer support team responds fast to complaints | |
| Integrating into many of Thailand’s local banks | |
| People from other countries can still partake in the exchange’s services | |
The exchange offers innovative cryptocurrency exchange services that let consumers purchase more than fifty currencies directly from their bank accounts. Purchasing cryptocurrency is a relatively simple process. Consumers just need to wire money to the exchange’s account after registering their bank accounts with the site. Following that, the chosen coin in the specified quantity will be credited to their cryptocurrency account.
Various exchanges have various trading philosophies. There is also no “this overview is the best” point of view. Whatever trading perspective best suits you should be determined. The order book, or at least a portion of it, a price chart for the selected cryptocurrency, and order history are typically displayed on all trading screens. Moreover, they typically feature buy-and-sell boxes. Try to have a look at the trading view before selecting an exchange to make sure it seems correct to you.
The spot trading interface includes in-depth charts that TradingView sponsors, as well as statistics that present professional viewpoints on market developments. In the spot exchange interface, there are three different order types.
These three order types are limit, market, and stop-limit orders. For some coin pairings, the stop-limit order type is not available. Only the most liquid assets, like Bitcoin and Ethereum, are allowed to use it.
The Bitkub exchange presently has 58 coins listed. These include cryptocurrencies such as Bitcoin, Ethereum, Wancoin, Decentraland, the Sandbox, Axie Infinity, Balancer, Litecoin, Ripple, Bitkub Coin, Bitcoin Cash, Binance Coin, Tether, Stellar, and others.
On the spot market, all coins listed on the exchange are exchanged for THB. Due to liquidity, certain currencies that are listed on the market are not exchanged. Donnie Finance (DON), Cortex Coin (CTXC), Boba Token, Illuvium (ILV), Songbird, and GuildFi are the currencies in question.
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 the global industry average. In other words, the trading fees are not bad, but not a competitive advantage either. 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.
Bitkub Withdrawal fees
The withdrawal fee 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.
Bitkub and Kasikorn bank have a pecial arrangement. As a result, instead of the other banks’ 2,000,000 limits, if you opt to withdraw through that bank, you can withdraw up to 5,000,000 THB at once. The withdrawal costs differ as well. No matter how much you wish to withdraw, Kasikorn Bank charges a flat withdrawal fee of 20 THB, whereas other banks charge the following rates:
| THB AMOUNT | WITHDRAWAL FEE |
| 0 – 100,000 Baht | 20 Baht |
| 100,001 – 500,000 | 75 Baht |
| 500,001 – 2,000,000 Baht | 200 Baht |
Cryptocurrency and digital assets withdrawals and deposits follow the standard industry procedure.
After receiving the official license, the exchange was also the first one to launch a mobile trading app for cryptocurrency in Thailand, with 24/7 customer support.
Bitkub offers 130 FAQs for new users, totaling 130 writeups, with the goal of making the platform accessible to everyone, whether they are experienced traders or novice traders.
In addition to the FAQs, Bitkub has a part on its website titled “Coins Directory” with the stated goal of transforming people’s financial lifestyles and teaching the next generation about Blockchain and cryptocurrencies. The Directory includes details and fundamental facts about all the currencies mentioned on Bitkub. To keep the users as current as possible, these articles are also often updated each month. As a result, you may go directly to their knowledge base and attempt searching for your queries if you ever have any throughout the trading procedure.
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.
KUB is the name of Bitkub’s native token. Credits and cost reductions are given using it on the Bitkub cryptocurrency exchange. In the Bitkub chain ecosystem, it also serves as a gas fee and offers to stake incentives to holders. When this article was published, it had a maximum supply of 1 trillion coins.
The answer is an emphatic YES. Bitkub is fully regulated by the Thailand Government. In fact, it states on its website that it has a fully paid registered capital of 290 million THB, making it one of only two crypto exchanges that did that in the early days of 2019.
As a cryptocurrency exchange, Bitkub deploys various technologies with different purposes to optimize its security level. With regard to accounts’ protection, Two-factor authentication, which adds an extra layer of security, preventing unauthorized access of usernames or passwords, is available for all Bitkub’s accounts. In terms of system security and safety, Bitkub.com’s traffic runs completely on encrypted SSL, and DDoS protection on Cloudflare using No Scrubs technology.
There is a five-minute withdrawal suspension after login. The exchange has a physical address located in Bangkok, Thailand, where customers can reach out to them. They regularly post security tips and updates to guide users from fraud and hackers. Their website servers are protected with encrypted technology.
Organizational security also plays a very significant role in every exchange. All Bitkub’s employees are required to comply with the company’s financial standards. Password management systems as well as two-factor authentication, are optimized to prevent any unauthorized access to the company’s data storage and network. Furthermore, in order to best secure your information, Bitkub hashes/ encrypts all passwords in the database. This makes sure that your account can only be accessed from authorized personnel and devices.
Bitkub claims to have a complete reserve and offers the assurance that all deposit fund is kept safe and is never utilized for anything else in order to safeguard its consumers. Bitkub has a sizable amount of money now locked with the intention of defaulting should any unforeseen circumstances arise. Despite the fact that this looks to be a hardship for digital asset exchanges, this approach is fair in order to ensure that exchanges can pay back their clients.
The exchange is limited to trading within Thailand, so its competitors are also regional exchanges such as Binance, Satang Pro.
It is now obvious that Bitkub is one of Thailand’s biggest cryptocurrency exchanges. It offers unmatched cash to cryptocurrency conversions and includes security safeguards that provide investors peace of mind. Hopefully the Bitkub Review article has helped you understand more about the project.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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