Comparison of Bithumb vs Coinstore [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bithumb vs Coinstore comparison!

Your expert: Alejandro Borja

Bithumb

Your expert: Xavier Tarrasó

Coinstore

Main points

Fees

0,10%/0,15%

Earns

Yes

Customer service

4/5

0.20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Competitive fees but variable depending on the trading volume.

4.0 – Competitive fees with additional benefits for high-volume trading.

Level

0,10%/0,15%

0.20%

Brief explanation

Bithumb structures its trading fees to accommodate both high-volume traders and casual users, making it an attractive platform for a broad range of investors. The fee system is tiered, based on the user’s 30-day trading volume, which incentivizes frequent trading and higher volumes. Fees start relatively low compared to industry averages, with maker fees often being lower than taker fees, which benefits those who add liquidity to the market. This structure not only supports active traders but also ensures that the exchange remains competitive and accessible to newcomers. The clarity and competitiveness of these fees contribute significantly to Bithumb’s appeal in the global crypto trading landscape.

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.

Bithumb

Year Founded: Established in 2014, Bithumb has a long-standing presence in the cryptocurrency market. This longevity signifies stability and experience in handling a dynamic and sometimes volatile market, providing a solid foundation of trust among its users.
Security Methods: Bithumb has implemented robust security measures, including multi-layered security systems and regular updates to safeguard against new types of cyber threats. These rigorous security practices help ensure the safety of user funds and personal information.
Volume Managed and Trading Volume and Liquidity: Bithumb consistently ranks among the top exchanges globally in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and reliability of the platform in the eyes of a large user base.
Reputation and Reviews: The exchange has built a solid reputation over the years, backed by positive reviews from many of its users. This reputation is supported by Bithumb's responsiveness to past challenges and its ongoing commitment to improve user experience and security.
Customer Service: Bithumb offers extensive customer support with 24/7 access, including real-time assistance for resolving issues. Effective customer service enhances user trust by ensuring that assistance is readily available whenever needed, which is crucial in the fast-paced environment of cryptocurrency trading.

Coinstore

Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access.
Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation.
High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders.
Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore.
Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bithumb Korea Co., Ltd.

Unknown

Regulation

Regulated in Corea del Sur

Not regulated

Year founded

2014

2021

Founder

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bithumb	FEATURES	Coinstore
Bithumb allows relatively low minimum trades, accessible for beginners.	Minimum Trade	Minimum trade amount details not specified but low barrier to entry.
Fees are competitive but can be complex and vary by transaction type.	Trading and Transaction Fees	0.2% fee for spot trading, and 0.025%-0.06% for futures .
Offers a wide range of cryptocurrencies, catering to diverse trader needs.	Number of Cryptocurrencies	Supports 96 tokens and 94 trading pairs .
Provides a substantial number of trading pairs, enhancing trading options.	Crypto-to-Crypto Trading Pairs	94 trading pairs available .
Generally transparent but could improve in detailing fee structures.	Website Transparency	Lacks detailed information on some aspects, like withdrawal fees .
Bithumb does not provide an exchange card for in-store purchases or associated benefits, which limits its utility for everyday transactions compared to some other exchanges offering this feature.	Credit/Debit Card	Coinstore does not provide an exchange card for in-store purchases.
Provides secure storage options with advanced security features.	Storage Offering	70% of assets stored in cold storage, AES-256 encryption used .
Offers competitive staking options and rewards for users.	Staking and Rewards	No dedicated staking program mentioned .
Excellent user interface on both mobile and desktop platforms.	Mobile App and Desktop	Full-featured mobile app for Android and iOS available .
Exceptional customer support with 24/7 availability and multiple languages.	Customer Service	Provides 24-hour chat service but lacks direct phone support .
Efficient processes, though some users report delays during high traffic.	Deposit and Withdraw	Only supports crypto deposits and withdrawals, no fiat support .

Key features

Analysis tools

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, staking, Bithumb Cash rewards, institutional services

Margin trading, futures trading, staking, Coinstore Launchpad

Anonymity

Yes

Key points

Available cryptocurrencies

150+

50+

User-friendliness

Bithumb provides a straightforward and user-friendly interface, making it easy for beginners to start trading cryptocurrencies. The platform’s design is clean and intuitive, facilitating a smooth trading experience.

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Offers good value for money with competitive fees and a wide selection of cryptocurrencies, though it may face regulatory challenges in some regions.

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.

Countries of operation

South Korea, United States, Canada, Australia, United Kingdom

Singapore, United States, Canada, Australia, United Kingdom

Best for

Best for South Korean traders looking for a platform with a wide selection of cryptocurrencies and competitive fees.

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

KRW, BTC

USDT, BTC

Account

Trading

Bithumb is one of South Korea’s largest exchanges, offering high liquidity and a wide range of cryptocurrencies. However, it has faced security issues in the past, which could be a concern for users.

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.

Deposit and withdrawal

Bithumb offers various deposit methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive but can vary depending on the method used.

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

Account opening process

Bithumb provides a straightforward account opening process. Users need to submit personal information and verify their identity. The process is efficient and typically completed within a day, ensuring quick access to trading.

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

KYC required?

Yes

Customer Service

Bithumb offers customer support through email, live chat, and a help center. The support team is responsive, but the lack of 24/7 availability may be a limitation for some users.

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation for some users.

Security

Bithumb offers robust security features, including 2FA, cold storage, and encryption. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some users.

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bithumb for traders looking for a robust platform with a wide selection of cryptocurrencies and high liquidity. Its user-friendly interface makes it accessible for beginners, while the depth of its market and security measures provides peace of mind. However, potential users should be aware of its complex fee structure and ensure they understand the costs associated with trading on this platform. Overall, Bithumb is a solid choice for those looking to dive into the dynamic world of cryptocurrency trading.

Xavier Tarrasó

As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Bithumb vs Coinstore [ 2024 ]

Bithumb

Coinstore

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bithumb

Coinstore

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bithumb and Coinstore