Bithumb Singapore Fee Comparison Calculator
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Enter your estimated monthly trading volume to see how much you would save with Bithumb Singapore's 0.05% flat fee versus other exchanges.
Savings Analysis
Bithumb Singapore review gives you the full picture of what the exchange offered, how its fees stacked up, why it shut down, and where to go next.
Quick Take
- Bithumb Singapore launched in 2019 as the Singapore arm of South Korea’s Bithumb.
- It charged a flat 0.05% trading fee - one of the lowest rates globally.
- Only crypto deposits were allowed; no fiat on‑ramps.
- The platform is now defunct - the website is offline and services are terminated.
- Former users should migrate to other Singapore‑registered exchanges, many of which charge 0.10‑0.15% fees.
What Was Bithumb Singapore?
Bithumb Singapore was a cryptocurrency exchange registered in Singapore that operated as the international extension of the South Korean exchange Bithumb. The service began under the name Bitholic, rebranded on August 8, 2019, and aimed to tap into Singapore’s crypto‑friendly regulatory environment.
The parent company, Bithumb, founded in 2014, is one of Korea’s largest exchanges, supporting over 320 digital assets and offering spot trading, staking, and bot trading.
Fee Structure - How Cheap Was It?
The headline draw was the flat trading fee of 0.05% on all orders, regardless of maker or taker status. By contrast, the industry average in 2023 hovered around 0.21% (taker) and 0.16% (maker).
Withdrawal costs were a fixed 0.001BTC per Bitcoin withdrawal, slightly higher than the typical 0.00059BTC but still competitive for larger transfers.
| Exchange | Trading Fee | BTC Withdrawal |
|---|---|---|
| Bithumb Singapore | 0.05% (flat) | 0.001BTC |
| Coinhako | 0.10% - 0.15% | 0.0007BTC |
| Binance Singapore | 0.10% - 0.12% | 0.0005BTC |
| Kraken (SG‑registered) | 0.16% - 0.26% | 0.0006BTC |
For high‑frequency traders or anyone moving large volumes, that 0.05% rate translated into significant cost savings.
Security & Compliance
Security was a core selling point. Bithumb Singapore employed cold storage for the majority of user funds, complemented by two‑factor authentication (Two‑factor authentication) and an internal insurance fund.
However, the parent Bithumb has a documented history of hacking incidents - notably a 2018 breach that exposed roughly $31million worth of crypto. While those events occurred on the Korean platform, they raised lingering concerns for risk‑averse traders.
Regulatory alignment with Singapore’s Monetary Authority of Singapore (MAS) gave the exchange a veneer of legitimacy, but the lack of a fiat on‑ramp meant it never fully leveraged the country’s supportive stance on digital assets.
Operational Limitations
The platform only accepted crypto deposits. Newcomers had to buy Bitcoin, Ethereum, or another coin on a different exchange, then transfer it to Bithumb Singapore before they could trade. This extra step added friction and transaction fees.
Geographically, the exchange barred U.S. residents, a common practice among Asian platforms to avoid U.S. securities regulations.
Because of these constraints, Bithumb Singapore appealed mainly to experienced traders already holding crypto and looking for cheap trade execution.
Why Did It Shut Down?
Monitoring services list Bithumb Singapore as “dead” - the website is inaccessible, and no official statement explains the closure. Analysts point to several plausible factors:
- Intense competition: Singapore hosts a dense cluster of exchanges, many offering fiat gateways and broader asset lists.
- Regulatory pressures: MAS tightened AML/KYC expectations in 2023, making compliance more costly for niche operators.
- Business model mismatch: The crypto‑only deposit model limited user growth, especially as newcomers preferred platforms with integrated fiat purchases.
- Parent‑company focus: Bithumb’s resources may have shifted toward its global brand “Bithumb Global,” leaving the Singapore arm under‑funded.
Regardless of the exact reason, the outcome is clear: traders can no longer access the service.
What to Do Next - Alternatives & Migration
If you previously held funds on Bithumb Singapore, follow these steps:
- Locate the last email from Bithumb Singapore (it may contain a withdrawal address or contact link).
- Check whether the exchange has posted a notice on social media (Twitter, Telegram) about asset retrieval.
- If a withdrawal portal is still live, initiate a transfer of all balances to a secure wallet you control.
- Once funds are in your personal wallet, choose a new Singapore‑registered exchange. Below are three popular options:
- Coinhako: Low fees (0.10%‑0.15%), fiat on‑ramps for SGD, robust mobile app.
- Binance Singapore: Competitive fees (0.10%‑0.12%), wide asset list, futures trading.
- Kraken (SG‑registered): Strong security reputation, margin trading, US‑DOLLAR pairs.
When you open a new account, enable Two‑factor authentication and consider moving the bulk of your holdings to a hardware wallet for added safety.
Key Takeaways
- Bithumb Singapore offered one of the lowest trading fees in the market (0.05%).
- Security measures were solid, but the parent company’s hack history lingered in trader minds.
- The crypto‑only deposit model and lack of fiat support limited mass‑market adoption.
- Intense local competition and tightening regulations likely contributed to its shutdown.
- Former users should migrate assets promptly, enable strong security on any new platform, and compare fee structures before settling on a replacement.
Frequently Asked Questions
Is Bithumb Singapore still usable?
No. Monitoring services mark the exchange as defunct, and its website is no longer reachable. Users must withdraw any remaining balances and look for alternative platforms.
What were the trading fees compared to other Singapore exchanges?
Bithumb Singapore charged a flat 0.05% on every trade. Most other Singapore‑registered exchanges charge between 0.10% and 0.15% for taker orders, making Bithumb Singapore significantly cheaper.
Can I deposit fiat on Bithumb Singapore?
No. The platform only accepted cryptocurrency deposits, meaning users had to acquire crypto elsewhere first.
How safe was the exchange?
Security relied on cold storage for the bulk of funds and mandatory two‑factor authentication. However, the parent Bithumb suffered notable hacks, which may affect perceived safety.
Which Singapore exchanges can I consider as a replacement?
Popular alternatives include Coinhako, Binance Singapore, and Kraken’s Singapore‑registered service. All offer fiat on‑ramps, comparable liquidity, and fee structures ranging from 0.10% to 0.15%.
april harper
January 8, 2025 AT 09:23 AMIn the silent halls of finance, Bithumb's closure echoes like a fading sunrise.
Billy Krzemien
January 8, 2025 AT 23:17 PMIf you're looking for a platform with transparent fees, it's worth noting that Bithumb Singapore offered a flat 0.05% rate, which undercuts many competitors.
The security measures they implemented, such as multi‑factor authentication and cold storage, were quite robust.
For anyone still on the fence, remember that a low fee alone shouldn't outweigh the importance of regulatory compliance.
Amie Wilensky
January 9, 2025 AT 13:10 PMWhen we examine the fee matrix-comparing maker versus taker, spot versus futures-Bithumb's model appears deceptively simple, yet the hidden costs, such as withdrawal fees, network congestion surcharges, and occasional tier‑based adjustments, can accumulate, especially for high‑volume traders; moreover, the sudden shutdown raises questions about capital adequacy, governance transparency, and the broader impact on Singapore's crypto ecosystem; it's almost as if the platform whispered promises while the underlying architecture trembled.
MD Razu
January 10, 2025 AT 03:03 AMThe decision to cease operations in Singapore was not merely a footnote in the annals of cryptocurrency exchanges, but a significant pivot that warrants meticulous scrutiny.
First, the regulatory landscape in Singapore has increasingly emphasized consumer protection, imposing stringent licensing requirements that many offshore platforms find arduous to satisfy.
Bithumb, originally founded in South Korea, had to navigate a labyrinth of cross‑border compliance obligations, ranging from AML/KYC protocols to capital reserve disclosures.
Second, the fee structure-while advertised as a flat 0.05%-did not account for ancillary charges that could erode thin profit margins for day traders who rely on volume discounts.
Third, user reports indicated occasional latency in order execution during peak market volatility, suggesting that the matching engine might have been operating at the edge of its capacity.
Furthermore, the security architecture, although bolstered by hardware wallets and multi‑signature vaults, faced criticism after a minor breach attempt that was swiftly contained but nonetheless exposed a potential vector for future exploits.
In addition, the market perception of Bithumb's brand suffered after the announcement, as investors tend to gravitate toward platforms that demonstrate consistent operational continuity.
Consequently, the liquidity pools shrank, creating a feedback loop where reduced depth exacerbated slippage, further discouraging high‑frequency traders.
From an economic perspective, the exit likely resulted in a short‑term redistribution of assets to competitors such as Binance and Coinbase, which could capitalize on the void left behind.
Yet, the long‑term implications for Singapore's ambition to become a hub for regulated digital asset services remain ambiguous, as policymakers must now reassess the criteria for granting virtual asset service provider licences.
Users who had funds locked in Bithumb accounts were compelled to initiate withdrawal processes, encountering varying processing times that sparked frustration across the community.
The support team, while courteous, struggled to address the surge of inquiries, highlighting an operational bottleneck that is common during abrupt wind‑downs.
Observing the broader industry trends, one can surmise that the consolidation of exchanges may lead to a more centralized market structure, potentially diminishing the competitive pressures that drive fee reductions.
Nevertheless, for traders who prioritize low transaction costs and robust security, the lessons gleaned from Bithumb's Singapore chapter serve as a cautionary tale about the volatility of regulatory environments.
In summary, the closure intertwines regulatory compliance, fee transparency, operational resilience, and market dynamics into a complex tapestry that defies simplistic explanations.
Future participants should therefore conduct thorough due diligence, scrutinize both headline fees and hidden expenses, and remain vigilant about the legal jurisdictions governing their chosen platforms.
VICKIE MALBRUE
January 10, 2025 AT 16:57 PMA bright spot is that the crypto community rallied quickly, sharing tips and resources.
It shows how resilient we can be.
Waynne Kilian
January 11, 2025 AT 06:50 AMi think Bithumb's exit opens a dialog about how we all can shape the future of digital money. it's not just a setback; it's a chance to learn together.
Jacob Anderson
January 11, 2025 AT 20:43 PMOh great, another exchange folds because regulation is a buzzword.
Guess we should have seen that coming.
Kate Nicholls
January 12, 2025 AT 10:37 AMWhile the sarcasm is tasty, the reality is that compliance costs are real and can't be ignored.
Rajini N
January 13, 2025 AT 00:30 AMFor anyone still active in the region, consider checking the Monetary Authority's latest licensing list before onboarding a new exchange.
It provides clear criteria and helps avoid similar surprises.
Also, keep an eye on withdrawal fee schedules, as they can differ significantly across platforms.
Jason Brittin
January 13, 2025 AT 14:23 PMTotally get the frustration 😂, but on the bright side, many platforms are stepping up their game.
Keep your eyes peeled for better fee tiers! 🚀
Charles Banks Jr.
January 14, 2025 AT 04:17 AMHonestly, the whole fee‑calculation page feels like a maze, and the terms? Meh.
Ben Dwyer
January 14, 2025 AT 18:10 PMYou’re not alone in feeling that way; many users shared similar concerns and found alternative solutions.
Lindsay Miller
January 15, 2025 AT 08:03 AMIt’s tough when a service you trust disappears, especially if you have money waiting to be moved.
Katrinka Scribner
January 15, 2025 AT 21:57 PMI feel sooo sad 😭 Bithumb was my go‑to and now it’s gone!
But hey, we’ll find a new home soon ❤️
Michael Wilkinson
January 16, 2025 AT 11:50 AMBoundaries matter; the exchange overstepped by failing to communicate timelines clearly, and that’s unacceptable.
Clint Barnett
January 17, 2025 AT 01:43 AMThe abrupt silence from Bithumb can feel like a thunderclap in the otherwise steady rhythm of crypto trading, jolting even the most seasoned users.
Yet, within that storm lies an opportunity to explore a kaleidoscope of alternative platforms that champion transparency and user empowerment.
When scouting for a new home, prioritize exchanges that illuminate their fee structures with crystal‑clear charts rather than cloaked promises.
Look for robust custodial safeguards-think multi‑signature vaults, insurance-backed reserves, and regular third‑party audits that shine a light on security practices.
Don’t forget to gauge community sentiment; forums and social channels often reveal the lived experiences that official statements might gloss over.
In the end, the journey from disruption to discovery can transform a setback into a springboard for smarter, safer trading adventures.