The rising global demand for cryptocurrencies has sparked massive growth for Bithumb and other crypto exchanges. Bithumb is adjusting to the increase in business activity by announcing that it will hire an additional 400 employees by the end of 2018. The employment opportunities will include jobs in the fields of web design, financial-tech, marketing, public relations, overseas sales, human resources, legal and investments.
South Korea is considered a major hub for the cryptocurrency industry. The country’s biggest crypto exchange is Bithumb, which hosts the largest market share of investors. As demand for Bitcoin and other virtual currencies increases, new investors are continuing to knock on Bithumb’s door.
The overload of new clients and traders has left the company with a rising need for manpower, leading to today’s announcement of a new hiring objective. According to a Bithumb spokesman, the company plans to “hire 100 who will work at corporate headquarters in Seoul. We will also employ 300 more who will work at our call centers. These are full-time positions.”
A Major Player in the Crypto World
In recent months, South Korea has made many headlines pertaining to cryptocurrencies. Regulators in the country have tightened restrictionsin an effort to protect the public from the risks associated with the market. Moreover, the Financial Services Commission of South Korea announced an ICO ban, as a measure to contain unstable offerings, which would place investors’ funds at greater risk.
The increased regulations are being implemented on the heels of several hacks of Korean exchanges. One of the more publicized hacks took place at Youbit, which was actually hacked on more than one occasion, causing the exchange to file for bankruptcy and many traders to lose their funds. In an effort to protect investors, the South Korean government has been very stringent in its sentiment on the industry. “The bankruptcy of a virtual currency exchange (YouBit) is expected to lead to financial losses for users. Users should exercise extraordinary precautions and wariness about the risks involved in virtual currency speculation and reckless participation in virtual currency transactions.”
The government also declared its intention to inspect crypto exchanges, in the aftermath of the Youbit hacks and consequent bankruptcy filing.
In the meantime, Bithumb continues its march forward, enduring an incredible pace of growth. The new employees will surely be tasked with creating preventative measures that will protect the company and its user from potential hacks, and to improve the trading environment for all Bithumb clients.