- South Korea’s leading cryptocurrency platform, Bithumb, has made headlines with the listing of Cat in a Dog’s World (MEW) in its KRW trading market.
- This strategic move aims to diversify the trading options available on Bithumb, already renowned for its wide array of digital currencies, thereby attracting more investors.
- The announcement caused a significant surge in MEW’s market value, with a noted 25% increase soon after the news broke.
Discover the latest developments in cryptocurrency as Bithumb introduces Cat in a Dog’s World (MEW) to its trading platform, expanding investment opportunities.
MEW Listing Specifications
Cat in a Dog’s World (MEW) is now available for trading on Bithumb’s Wonhwa Market. The platform specifies that deposits can only be conducted via the Solana network, cautioning users against using other networks as they will not be supported. Deposits began on June 7, 2024, at 15:30, with trading and withdrawals starting from 18:00 on the same day. The initial MEW price is set at 6,053 KRW and requires 20 confirmations to finalize deposits. Investors are advised to stay updated with the latest news to make informed trading decisions.
Bithumb has emphasized the high-risk nature of cryptocurrency trading, warning that investments could result in significant losses, including total loss of capital. Additionally, within a week following the MEW listing, Bithumb may implement restrictions on deposits and withdrawals, block accounts, and demand further verification from users to maintain compliance and ensure security.
Order Restrictions and Their Purpose
To create a secure trading environment for newcomers, Bithumb has placed specific restrictions on orders. In the initial five minutes of trading, buy orders are prohibited. Sell orders are restricted to a range of -10% to +100% of the initial price during this window. Only after the first trade post-commencement will automated orders be permitted.
Critical Guidelines for Secure Transactions
Users need to follow certain protocols when making deposits and withdrawals to prevent any complications. Bithumb operates under the Travelpool application and supports transactions only through compatible cryptocurrency providers, ensuring all transactions align with Bithumb’s standards.
It is essential for users to be meticulous with cryptocurrency deposits. Only the specified types of digital assets will be processed in cases of incorrect deposits. Before making a deposit, users must confirm the correct address system and network type displayed on the deposit screen to avoid errors.
Investment Tips for Market Participants
– Always verify the network type before making a deposit to avoid losses.
– Double-check the cryptocurrency asset’s address to prevent errors.
– Be aware of Bithumb’s restrictions on new deposits and withdrawals.
– Understand the imposed order limits during initial trading periods.
– Ensure compliance with Bithumb’s security and verification requirements to safeguard your investments.
Conclusion
In summary, the addition of Cat in a Dog’s World (MEW) to Bithumb’s KRW market provides new trading opportunities. However, it necessitates cautious and well-informed trading practices to ensure safety and adherence to compliance requirements. Investors are encouraged to stay vigilant and proactively follow Bithumb’s guidelines to mitigate risks and optimize their trading strategies.
