Cryptocurrency Encyclopedia

How to Register on the Bithumb Exchange

Step 1: Visit the Bithumb Website

• Open your web browser and navigate to the official Bithumb website: https://www.bithumb.com.

Step 2: Click "Sign Up"

• On the homepage, locate the "Sign Up" button in the top-right corner and click on it.

Step 3: Select Language and Country

• Choose your preferred language from the dropdown menu.

• Select your country of residence from the list.

Step 4: Enter Personal Details

• Fill in the required personal details, including your:

• Full name

• Email address

• Date of birth

• Phone number

Step 5: Create a Password

• Enter a strong password that meets the platform's security requirements.

• Re-enter the password to confirm.

Step 6: Complete KYC Verification

• Bithumb requires all users to complete Know Your Customer (KYC) verification for enhanced security.

• Follow the instructions provided to upload government-issued ID documents (e.g., passport, driver's license) and verify your identity.

Step 7: Set Up Two-Factor Authentication (2FA)

• For added security, enable 2FA by following the steps provided.

• You can choose between SMS, email, or Google Authenticator as your 2FA method.

Step 8: Agree to Terms and Conditions

• Read the Terms and Conditions carefully.

• Check the box to indicate that you agree to the platform's policies.

Step 9: Submit Registration

• Click on the "Create Account" button to submit your registration.

• You will receive an email confirmation to verify your account.

Step 10: Activate Your Account

• Open the confirmation email and click on the activation link provided.

• Your Bithumb account is now activated and ready to use.

Tips:

• Use a strong and unique password to protect your account.

• Enable 2FA for enhanced security.

• Keep your KYC information up to date to avoid any account issues.

• Securely store your login credentials and private keys.

Bybit, a Singapore-headquartered cryptocurrency exchange, discontinued its services to US customers in September 2022 due to increased regulatory scrutiny.

Can Bybit be used in the United States?

Bybit is a cryptocurrency exchange that was founded in 2018. It is headquartered in Singapore and has offices in Taiwan, Hong Kong, and Japan. Bybit offers a wide range of cryptocurrency trading services, including spot trading, margin trading, and futures trading.

Is Bybit available in the United States?

No, Bybit is not available in the United States. The exchange announced in September 2022 that it would be discontinuing its services to US customers. This was due to the increasing regulatory scrutiny of cryptocurrency exchanges in the United States.

What are the alternatives to Bybit for US customers?

There are a number of other cryptocurrency exchanges that are available to US customers. Some of the most popular exchanges include:

• Coinbase
• Binance.US
• Kraken
• Gemini
• FTX.US

These exchanges offer a similar range of services to Bybit, including spot trading, margin trading, and futures trading.

While Bybit is legal and accessible in the United States, U.S. users face specific restrictions, such as the prohibition of margin trading, USDT trading pairs, and certain derivatives.

Can Bybit Be Used in the United States?

Yes, Bybit is legal and accessible for users in the United States. However, due to local regulations, there are certain restrictions and limitations to consider.

KYC and Verification

In compliance with U.S. regulations, Bybit requires all U.S. users to complete Know Your Customer (KYC) verification. This process involves submitting personal identification documents, such as a passport or driver's license. Once verified, U.S. users will have full access to Bybit's services and trading features.

Trading Restrictions

• Margin and Perpetual Trading: Margin trading and perpetual contracts are not available for U.S. users due to regulatory restrictions.
• USDT Trading Pairs: Trading pairs using Tether (USDT) are currently prohibited for U.S. users. Bybit offers alternative stablecoins, such as USDC and BUSD, for trading.
• Derivatives: Certain derivatives, including options and futures, are not available to U.S. users due to regulatory concerns.

Deposit and Withdrawal Methods

U.S. users have limited options for depositing and withdrawing funds on Bybit. Cryptocurrency deposits are supported through a few select wallets and exchanges. Bank transfers and credit/debit card payments are not available.

Legal Compliance

Bybit adheres to all applicable laws and regulations in the United States, including:

• The Bank Secrecy Act (BSA)
• The FinCEN Cybersecurity Regulations
• The Money Laundering Control Act (MLCA)

Customer Support

Bybit provides comprehensive customer support to U.S. users, including live chat, email, and a dedicated support team. Support is available 24/7 and can assist with KYC verification, trading inquiries, and account-related issues.

Key Takeaways

• Bybit is legal and accessible for U.S. users who complete KYC verification.
• Margin and perpetual trading, USDT trading pairs, and certain derivatives are restricted for U.S. users.
• U.S. users have limited deposit and withdrawal options.
• Bybit complies with all relevant U.S. regulations and provides 24/7 customer support.