How to buy and sell coins on Bithumb Exchange? Detailed steps

Follow this step-by-step guide to seamlessly navigate the process of buying and selling various digital assets on the renowned Bithumb Exchange.

Oct 10, 2024 at 12:18 pm

How to Buy and Sell Coins on Bithumb Exchange: A Step-by-Step Guide

Bithumb is a renowned South Korean cryptocurrency exchange that offers a user-friendly platform for buying and selling various digital assets. This guide provides detailed steps to help you navigate through the process of purchasing and liquidating coins on Bithumb Exchange.

Step 1: Create an Account

• Visit the official Bithumb website and click on "Sign Up."
• Fill in the required personal information (email, password, etc.) and complete the verification process.

Step 2: Fund Your Account (for Buying Coins)

• Log in to your Bithumb account.
• Navigate to the "Deposit" section.
• Select your preferred deposit method (e.g., bank transfer, credit/debit card).
• Follow the on-screen instructions to complete the deposit.

Step 3: Place a Buy Order (for Buying Coins)

• Go to the "Trade" section.
• Select the cryptocurrency pair you want to buy (e.g., BTC/KRW).
• Determine the order type (e.g., Market Order, Limit Order).
• Enter the amount of coins you want to purchase and the desired price.
• Review the order details and click on "Buy."

Step 4: Wait for Order Execution

• The exchange will match your buy order with available sell orders.
• Once matched, your order will be executed, and the purchased coins will be deposited into your Bithumb wallet.

Step 5: Sell Your Coins

• Navigate to the "Trade" section.
• Select the same cryptocurrency pair you bought (e.g., BTC/KRW).
• Determine the order type (e.g., Market Order, Limit Order).
• Enter the amount of coins you want to sell and the desired price.
• Review the order details and click on "Sell."

Step 6: Collect Proceeds (if Selling)

• Similar to the buying process, the exchange will match your sell order with available buy orders.
• After successful execution, the proceeds from the sale will be credited to your Bithumb balance.
• You can then withdraw the proceeds to your desired bank account or wallet.

Additional Notes:

• Bithumb supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
• Transaction fees and withdrawal limits vary depending on the cryptocurrency and the payment method.
• Ensure you have completed the Know Your Customer (KYC) verification process to access all features of the exchange.
• Always review the order details carefully before executing it.