Banking Partner Of Bithumb Paints The Picture Of Massive Interest In New Exchange Account Opens
Crypto Exchange Bithumb: Bank Partner Staffers Working Overtime Opening New Bitcoin Accounts
There appears to be a sharp increase in the amount of South Koreans wanting to open new bitcoin accounts on the crypto exchange Bithumb, so much so that a staffer of the bank partner has been quoted having to work overtime.
“This week’s new subscribers have been increasing, and I’ve been working hard to find my way out of the office during work hours,” said an unnamed staff member of NH Bank in Seol city center (rough translation), adding that amount of visitors wanting to open a new crypto account has remarkably increased.
South Korea has an unusual way of having people open new crypto accounts. As a way of verifying identity and nationality (only South Korean’s can trade on South Korean exchanges), they use a method call real account crypto accounts. This method requires physically going to a bank in order to open a virtual account sign up with Bithumb or any South Korean crypto exchange.
Trade volumes have also increased considerably with CryptoCompare claiming an 85% total volume increase for the month of April alone, saying:
“Bithumb was the top exchange at USD 17bn, despite a 47% drop in volumes, followed by Upbit and Bitfinex at USD 8.7bn (up 20%0 and USD 6.7bn (up 114%) respectively. Coinbase, Kraken, Bitstamp and Coinsbit also enjoyed a surge in volumes in April, while Liquid experienced a decrease.”
There has also been an increase in peer-to-peer volumes in South Korea, suggesting an upward trend across the board.
South Korea took a break last year but appears to be making an entrance once more, perhaps because Bitcoin finished bottoming out last December and the people are starting to trust it again.