Withdrawal from Bithumb to bank account

January 5, 2018 | Author: | Posted in Coin Exchanges

Withdrawal from Bithumb to bank account

People living in countries other than South Korea, such as United States, Ireland, Australia, Turkey, Canada, Germany, India, England, Russia, Qatar, Greece, Sweden, Switzerland and so on, wonder if they could withdraw their money fromBithumb to their local banka account.

As you have realized coins listed on Bithumb are trading at higher prices by up to 30% compared to other coin exchanges around the world. Therefore this situation signals a high profitability through arbitrage that works as the following :

How does the arbitrage process work with Bithumb?

1- Trader buys any coin from local exchange or a coin holder and stores them in a wallet.

2- Then transfers the coin amount to Bithumb

3- Converts it into KRW (Korean Currency) at high price

4- Withdraws the money to local bank account

Can you withdraw money from Bithumb to your loca bank account ?

Yes, users who completed security steps and qualified for the Level 3 by providing identity documents and other verification papers, can order withdrawal from Bithumb to bank account.

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