How to assess Bithumb fees before trading
To assess Bithumb fees, read the exchange's official schedule and add trading, deposit, withdrawal, network, and conversion costs before you trade.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
- Confirm Bithumb's residency and identity terms first.
- Separate trading fees from deposit, withdrawal, and conversion costs.
- Check maker, taker, and volume tiers on the current schedule.
- Keep KRW and USD records of every fee for US taxes.
To assess Bithumb fees before trading, confirm you can use the exchange, read its official schedule, and add every charge that applies. Bithumb is a South Korean exchange, so eligibility comes before cost math.
What to Know Before You Start
Check Bithumb's terms for US residents and the identity checks it requires before fee math. Bithumb generally serves Korean residents, with verification tied to residency. Separate trading fees from deposit, withdrawal, network, and currency conversion fees.
Steps to Assess Bithumb Fees
Bithumb's headline trading fee is only one part of the total. You also need maker and taker rates, your volume tier, and charges for moving money in and out. A round-trip cost adds the buy fee, the sell fee, and every other charge.
- 1Find the official scheduleOpen Bithumb's own website and find its current fee page. Ignore old screenshots and blog posts.
- 2Check maker and taker ratesA maker order rests on the book; a taker order fills against an existing order. Confirm which your order will be.
- 3Note your volume tierBithumb publishes volume-based fee discounts. Your rate can depend on recent trading volume.
- 4List deposit and withdrawal feesWrite down Korean won deposit and withdrawal charges. They are separate from trading fees.
- 5Add both sides and recheckAdd the buy fee, the sell fee, network fees, and conversion costs. Verify current rates before each trade.
After You Trade: Records and Safety
After a trade, keep a record of every fee in Korean won and US dollars. The IRS classifies cryptocurrency as property, so coin-to-coin trades and purchases made with crypto are taxable. Buying crypto with US dollars is not.
Frequently asked questions
US law does not specifically bar it, but Bithumb's terms generally require Korean residency and identity verification, so most US residents cannot complete sign-up.
Bithumb lists those charges outside trading fees, and the amount can depend on the bank or transfer method.
Look on Bithumb's own website, usually under a fees or policy link in its help center.
Trading fees can usually be added to your cost basis when you buy or subtracted from proceeds when you sell. Keep receipts and rate records.
