Bithumb Rewards Loyal Overseas Users with 70% Rebate on Transaction Fees

Bithumb, South Korea’s second-largest cryptocurrency exchange by trading volume, is offering overseas users a 70% discount on transaction fees from October 22 to November 21. The offer is valid for traders who have completed transactions exceeding a total of 1 billion Korean won (about $890,000), the company said in a statement on Monday.

As Bithumb explained, the promotion is a token of its appreciation for the loyalty and continued support of these users in the past month.

Andy Choi, who is in charge of Bithumb’s marketing department, commented:

"The existing one such as Bitcoin, Ethereum and Monero as well as many other cryptocurrencies are constantly being listed on the stock exchange with the huge global interest. We are glad to continue this event in October as well to reward overseas members for their support."

Overseas users will have from December 10 to December 14, 2018 to collect the refund.

Choi clarified that Korean nationals and those who joined the digital exchange using South Korean mobile numbers are not allowed to participate in the payback promotion.

Since last week, Bithumb has also been offering newly registered foreign traders a 20,000 Bithumb cash if they have executed more than 20 million won (around $18,000) worth of transactions, as per Bithumb cash standard. This promotion is valid from October 15 to November 14, with qualifying users allowed to participate in both events, the company noted.

Bithumb is scheduled to roll out its own decentralized exchange (DEX) by the end of this month in partnership with One Root Network (RNT). Under the deal, RNT will provide Bithumb with its Ethereum-based decentralized token transaction protocol.

In June, Bithumb reported losses of $30 million in cryptocurrency after hackers breached its security protocol. The company then suspended all withdrawals and deposits to prevent further attacks.