Comparison of Bithumb vs Safetrade [ 2024 ]

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

Your expert: Alejandro Borja

bithumb

Bithumb

  • Threenvest valuation: 4,3/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

safetrade

Safetrade

  • Threenvest valuation: 2/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,10%/0,15%

Earns

Yes

Customer service

4/5
≈ 0,10%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.9 – Competitive fees but variable depending on the trading volume.
3.9 – Competitive fees with additional benefits for high-volume trading.

Level

0,10%/0,15%
≈ 0,10%

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.
SafeTrade implements a flat fee model for its trading activities, charging a uniform 0.1% fee for both makers and takers on all trades. This rate is appealingly lower than the industry average, which often hovers around 0.25%. This straightforward, low-cost fee structure makes SafeTrade an attractive option for traders looking to maximize their returns without the burden of high transaction costs. Additionally, it’s worth noting that there are no deposit fees on SafeTrade, which further reduces the cost for users to start trading. However, traders should be aware that while the trading fees are low, the lack of regulatory oversight might introduce risks that are typically mitigated on more stringently regulated platforms. Thus, while the fee structure is economically advantageous, it comes with considerations that should be carefully weighed.

Bithumb

bithumb
Read bithumb review
  • 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.
  • Pros
  • High trading volume ensures liquidity.
  • User-friendly interface for beginners.
  • Robust security measures in place.
  • Cons
  • Past security breaches raise concerns.
  • Limited global accessibility.

Read bithumb review

Safetrade

safetrade
Read bithumb review
  • Security Methods: SafeTrade emphasizes security with comprehensive measures to protect user data and funds. This focus on security helps in building trust with its users.
  • Transparency: The platform's operations are characterized by a high degree of transparency, especially concerning its integration with the SafeCoin projects and community feedback mechanisms. This openness is a critical trust factor.
  • Trading Volume and Liquidity: SafeTrade handles a significant amount of trading volume, ensuring liquidity for its users, which is essential for executing trades efficiently without substantial price slippage.
  • Customer Service: The exchange offers 24/7 customer support, which is a substantial trust factor for users, especially in a market that operates round the clock. Reliable support is crucial for resolving issues swiftly.
  • Reputation and Reviews: Since its launch, SafeTrade has maintained a positive reputation within the community, supported by favorable reviews from its users. This reputation is a testament to the platform's reliability and service quality.
  • Pros
  • Low trading fees.
  • Supports 48 cryptocurrencies.
  • Community-driven platform.
  • Cons
  • Not regulated.
  • No fiat trading options.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Bithumb Korea Co., Ltd.
Unknown

Regulation

Regulated in Corea del Sur
Not regulated

Year founded

2014
2018

Founder

Unknown
Unknown

Payment methods

Transfers

Yes
No

Mastercard

No
No

Wire transfer

Yes
No

Card

No
No

Comparative table

Bithumb FEATURES Safetrade
Bithumb allows relatively low minimum trades, accessible for beginners.
Minimum Trade
SafeTrade allows trading in small quantities, but specifics about minimum trade sizes vary by cryptocurrency, which can be confusing for new users.
Fees are competitive but can be complex and vary by transaction type.
Trading and Transaction Fees
SafeTrade charges a flat fee of 0.1% for all trades, significantly lower than the industry average, making it very cost-effective.
Offers a wide range of cryptocurrencies, catering to diverse trader needs.
Number of Cryptocurrencies
Supports 48 cryptocurrencies, which is robust but still fewer than some of the larger exchanges that offer hundreds.
Provides a substantial number of trading pairs, enhancing trading options.
Crypto-to-Crypto Trading Pairs
Offers a variety of trading pairs, predominantly crypto-to-crypto, which caters well to a diverse trading base but lacks fiat options.
Generally transparent but could improve in detailing fee structures.
Website Transparency
The website provides essential information, yet could improve by offering more detailed insights about liquidity and security measures.
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
Lack of a dedicated exchange card limits the practical usability of SafeTrade’s services for everyday transactions and rewards.
Provides secure storage options with advanced security features.
Storage Offering
Offers secure storage solutions, but lacks some advanced features like insurance or diverse wallet options.
Offers competitive staking options and rewards for users.
Staking and Rewards
Limited information and options for staking and rewards compared to competitors who offer varied staking benefits and rewards.
Excellent user interface on both mobile and desktop platforms.
Mobile App and Desktop
Provides functional and user-friendly mobile and desktop interfaces, though there’s room for further enhancements in usability and features.
Exceptional customer support with 24/7 availability and multiple languages.
Customer Service
Offers 24/7 customer support with good service levels, but feedback suggests there could be improvements in response times and resolution efficiency.
Efficient processes, though some users report delays during high traffic.
Deposit and Withdraw
Deposits and withdrawals are facilitated smoothly for cryptocurrencies, yet the absence of direct fiat transactions and limited information on fees for these processes affect the rating.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
Low 2/5

Additional features

Margin trading, staking, Bithumb Cash rewards, institutional services
Margin trading, staking, SafeTrade Earn, fiat on/off ramps

Anonymity

No
Yes

Key points

Available cryptocurrencies

150+
20+

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.
SafeTrade offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

Best for South Korean traders looking for a platform with a wide selection of cryptocurrencies and competitive fees.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, BTC
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.
SafeTrade offers a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity compared to larger 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.
SafeTrade supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, 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.
SafeTrade provides a straightforward account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes
No

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.
SafeTrade provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may 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.
SafeTrade employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

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-tarraso-mascarell.jpg

Xavier Tarrasó

As one of the experts reviewing exchanges on our website, I find SafeTrade to be a particularly interesting choice for those venturing into the cryptocurrency market. It stands out with its low trading fees of only 0.1% across all trades, which is significantly lower than many other platforms. This feature alone makes it an attractive option for both seasoned traders and newcomers who are sensitive to cost. Furthermore, SafeTrade’s community-driven approach adds a layer of transparency and support that is not often seen in the exchange space. This feature should particularly appeal to users who value a collaborative and open environment. However, it’s crucial to note that SafeTrade is not regulated by any top-tier financial authority, which might be a concern for those prioritizing security and compliance. Overall, if you’re looking for a cost-effective platform and are comfortable with the level of regulatory oversight, SafeTrade could be a solid choice.

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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.

More comparatives Bithumb and Safetrade