Bitkub.com
Bitkub.com edit
Bitkub is a prominent cryptocurrency exchange platform based in Thailand. Here's a comprehensive overview of Bitkub:
Background and History edit
- Founded in February 2018 by Jirayut Srupsrisopa and other co-founders1[1]. - Headquartered in Bangkok, Thailand[5]. - Received a digital asset license from Thailand's Securities and Exchange Commission in 2019[12]. - Quickly became one of the largest cryptocurrency exchanges in Thailand.
Services and Features edit
- Cryptocurrency exchange services for buying, selling, and storing digital assets1[2]. - Supports over 75 trading pairs against the Thai Baht (THB)[9]. - Offers spot trading with limit orders, market orders, and stop-limit orders[9]. - Provides multi-cryptocurrency wallets and technical analysis tools1[3]. - Supports staking activities for its native KUB token[9]. - Offers an indexing service with two indices: Bitkub Daily (BITKUBDAY) and Bitkub Real-Time (BITKUB)[9].
Key Aspects edit
- User-friendly interface designed for both novice and experienced traders[3]. - Focuses on serving the Thai market, with all trading conducted in Thai Baht[9]. - Implements robust security measures, including cold storage for the majority of assets3[4]. - Requires Know Your Customer (KYC) verification for all users[9]. - Available on both web and mobile platforms (iOS and Android)2[5].
Native Token edit
- Bitkub Coin (KUB) is the platform's native cryptocurrency[9]. - Used for trading discounts, staking rewards, and as gas fees in the Bitkub Chain ecosystem[9].
Market Position edit
- Claims to be the largest cryptocurrency exchange in Thailand, with a reported 90% market share as of 2021[12]. - Experienced rapid growth, with revenue increasing from 3 million baht in 2018 to 3.28 billion baht in the first three quarters of 2021[12].
Regulatory Compliance edit
- Licensed and regulated by Thailand's Securities and Exchange Commission1[1]. - Adheres to local legal standards for cryptocurrency exchanges[3].
Corporate Structure edit
- Operated by Bitkub Online Co., Ltd., under the parent company Bitkub Capital Group Holdings[12]. - Has multiple subsidiary companies focusing on various aspects of blockchain technology and digital assets[1].
Challenges and Developments edit
- Faced system outages in January 2021 due to high trading volumes, leading to temporary shutdowns and regulatory scrutiny[12]. - In November 2021, Siam Commercial Bank announced plans to acquire a 51% stake in Bitkub, valuing the company at over $1 billion. However, this deal was later cancelled in August 2022[12].
Future Plans edit
- Announced intentions for international expansion in Southeast Asia[12]. - Continues to develop its blockchain ecosystem and services.
Bitkub aims to bridge the gap between blockchain technology and mainstream users by providing an accessible platform for cryptocurrency trading and related services. Its focus on the Thai market and compliance with local regulations has helped establish it as a leading player in Thailand's cryptocurrency ecosystem.