Are you looking for a reliable cryptocurrency exchange?
Fret not! And stop digging the crypto hole!
We have for you – drumroll please – WhiteBIT, the whiter than white crypto exchange! 🤝
WhiteBIT has quickly become one of Europe’s leading crypto exchanges!
How and why, you ask?
Well… it all comes down to its user-friendly interface, advanced trading tools, and commitment to security!
We’ll also dive deep into what makes WhiteBIT stand out from the crowd!
Come along as we uncover the unique benefits and potential drawbacks of trading on WhiteBIT!!!
Get ready to discover if this exchange is the right fit for your cryptocurrency needs!
Starting Off with WhiteBIT Review
WhiteBIT is a leading European cryptocurrency exchange founded in 2018 by CEO Volodymyr Nosov. Based in Ukraine, WhiteBIT has quickly become one of the most trusted and user-friendly platforms for buying, selling, and trading digital assets.
With over 4 million users worldwide, WhiteBIT offers a wide range of features and services, including spot trading, margin trading, futures contracts, crypto lending, and instant swaps. The exchange supports more than 350+ trading pairs and a variety of popular cryptocurrencies like Bitcoin, Ethereum, and Tether.
WhiteBIT prioritizes security, keeping 96% of assets in cold wallets and implementing robust measures such as AML checks, 2FA authentication, and regular audits by cybersecurity firm Hacken. The platform also boasts a competitive fee structure and a user-friendly interface, making it accessible to both novice and experienced traders.
In addition to its trading services, WhiteBIT is actively involved in the broader cryptocurrency ecosystem, offering its own blockchain, decentralized exchange, and crypto POS solution. With a strong focus on innovation and customer satisfaction, WhiteBIT continues to establish itself as a leading player in the European crypto market.
| Key Features | Description |
|---|---|
| CEO | Volodymyr Nosov |
| Location | Ukraine |
| Platform | TradingView |
| Leverage | 1:10 |
| Minimum Deposit | 0.0005 BTC |
| Withdrawal | Cryptocurrencies, currencies |
| Exchange Currencies | USD, UAH, EUR, TRY, GBP, PLN, GEL, BGN, CZK, KZT |
| Mobile Trading | Available |
| Affiliate Program | Available |
| Credit Card Usage | Allowed |
| Trading Products | Spot, Margin, Futures etc. |
| Trustpilot Rating | 3.5/5.0 |
Key Features of WhiteBIT
WhiteBit offers quite handful of features worth considering before getting started with this crypto exchange. Let’s check them out!
Wide Cryptocurrency Selection
WhiteBIT supports over 350+ trading pairs across a diverse range of cryptocurrencies, including major coins like Bitcoin, Ethereum, and Litecoin, as well as numerous altcoins and the native WBT token. This variety caters to traders with different preferences and strategies.
Advanced Trading Tools
The platform offers advanced tools like margin trading with up to 100x leverage, futures contracts, technical analysis charts, order types (limit, market, stop-loss), and trading bots/APIs for automated strategies. These empower traders to execute complex strategies.
Strong Security Measures
WhiteBIT prioritizes security by storing 96% of user funds in cold wallets, implementing 2FA, AML/KYC compliance, regular security audits, and other robust measures to protect user assets and data.
Crypto Lending and Earning
WhiteBIT’s “Earn” feature allows users to lend out their idle cryptocurrencies and earn interest, providing an opportunity for passive income generation alongside active trading.
Mobile Trading App
WhiteBIT offers a user-friendly mobile app for iOS and Android, allowing traders to access the platform’s features, monitor markets, and execute trades on-the-go.
WhiteBIT Popular Assets
| Asset | Name | Deposit Fee | Withdrawal Fee | Deposit Limits | Withdrawals limits |
|---|---|---|---|---|---|
| BTC | Bitcoin | Free | 0.00025 BTC | min 0.0005 BTC | min 0.001 BTC |
| ADA | Cardano | Free | 3 ADA | min 15 ADA | min 30 ADA |
| SOL | Solana | Free | 0.03 SOL | min 0.13 SOL | min 0.26 SOL |
| LINK | Chainlink | Free | 0.565 LINK | min 1.5 LINK | min 1.13 LINK |
| DOGE | Dogecoin | Free | 2.5 DOGE | min 65 DOGE | min 130 DOGE |
| XRP | Ripple | Free | 0.25 XRP | min 1 XRP | min 25 XRP |
| LTC | Litecoin | Free | 0.001 LTC | min 0.01 LTC | min 0.05 LTC |
| AVAX | Avalanche | Free | 0.065 AVAX | min 0.3 AVAX | min 0.6 AVAX |
WhiteBIT offers a diverse range of trading products to cater to traders of all levels and preferences. Let’s take a look at some of the key trading products available on the platform:
- Spot Trading: This is the most basic form of trading, where users can buy and sell cryptocurrencies using their own funds. WhiteBIT supports spot trading for over 350+ trading pairs, including major coins like Bitcoin, Ethereum, and Litecoin, as well as numerous altcoins.
- Margin Trading: For experienced traders, WhiteBIT provides margin trading with leverage up to 20x. This allows traders to amplify their buying power by borrowing funds from the exchange, potentially increasing their profits (or losses).
- Futures Trading: WhiteBIT offers perpetual futures contracts with no expiration date. Similar to margin trading, traders can open long or short positions and utilize leverage. However, the fees are paid to other traders rather than the exchange.
- WhiteSwap DEX: WhiteBIT has its own decentralized exchange (DEX) called WhiteSwap, which operates on the Ethereum, Tron, and Polygon networks. This allows for trustless, peer-to-peer trading without intermediaries.
- Bitcoin Global P2P: This is a peer-to-peer platform within the WhiteBIT ecosystem, enabling users to buy and sell cryptocurrencies directly with each other, supporting BTC and USDT (ERC20 and TRC20).
Pros and Cons of Using WhiteBit
Pros
- User-friendly interface.
- Wide range of supported cryptocurrencies.
- Advanced trading features and tools.
- Competitive trading fees.
- Strong security measures.
- Responsive customer support.
- Unique features like crypto lending and referral program.
Cons
- Some advanced features may be overwhelming for novice traders.
WhiteBIT Trading Fees
WhiteBIT offers competitive trading fees that cater to traders of all levels, from beginners to high-volume professionals. The standard trading fee on the spot market is 0.1% for both makers and takers, which is relatively low compared to many other exchanges.
However, WhiteBIT provides several ways for users to reduce their trading fees even further. One option is to hold the platform’s native token, WBT. Users who own or hold WBT can receive discounts of up to 100% on maker fees and up to 80% on taker fees, depending on their WBT holdings.
Additionally, WhiteBIT has a Market Making Program that offers significant fee reductions for high-volume traders. Market makers can enjoy fees as low as -0.01% for makers and -0.02% for takers on the spot market, and -0.01% for makers and -0.025% for takers on the futures market.
The exchange also has a VIP Program that provides fee discounts based on a user’s monthly trading volume and account balance. VIP users can benefit from maker fees as low as -0.001% and taker fees as low as 0.03%.
For futures trading, the standard fees are 0.035% for takers and 0.01% for makers, which are lower than the spot market fees.
Overall, WhiteBIT’s fee structure is designed to be competitive and attractive to traders of all levels, with various options to reduce trading costs.
Does WhiteBIT Really Care for Crypto Fanatics?
WhiteBIT offers multiple channels for customer support, ensuring that users can get assistance whenever they need it. The platform has a comprehensive Help Center where users can find answers to frequently asked questions and submit support requests directly.
In addition to the Help Center, WhiteBIT provides email support, allowing users to communicate directly with the support team. For more immediate assistance, users can take advantage of the live chat feature, which is available 24/7.
WhiteBIT also has a dedicated voice support service, where users can call a toll-free number and speak with a support representative directly. This feature is particularly useful for users who prefer verbal communication or have more complex issues that require personalized attention.
| Support Channel | Description |
|---|---|
| Help Center | Knowledge base, submit tickets |
| Email Support | Direct email communication: support@whitebit.com |
| Live Chat | Real-time chat with support agents |
| Voice Support | Toll-free phone support: +37052141499 |
Why Should You Choose WhiteBit?
The most important question – Can you trust WhiteBIT?! Well…There are several compelling reasons why you should consider using WhiteBIT as your cryptocurrency exchange platform:
- Security: WhiteBIT prioritizes the safety of your funds and personal information. The platform implements robust security measures, including storing 96% of user funds in cold wallets, which are offline and virtually impenetrable to hackers. Additionally, WhiteBIT has insurance coverage of up to $30 million to protect against potential losses.
- User-Friendly Interface: WhiteBIT’s interface is designed to be intuitive and user-friendly, making it easy for both novice and experienced traders to navigate the platform. The trading interface is customizable, allowing you to tailor it to your preferences and access advanced charting tools.
- Wide Range of Cryptocurrencies: WhiteBIT supports over 450 trading pairs, including major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as numerous altcoins. This diverse selection caters to traders with varying preferences and strategies.
- Advanced Trading Features: WhiteBIT offers advanced trading features such as margin trading with leverage up to 100x, futures contracts, and the ability to use trading bots and APIs for automated strategies. These features empower traders to execute complex strategies and potentially increase their profits.
- Competitive Fees: WhiteBIT has a competitive fee structure, with discounts available for high-volume traders and those holding the platform’s native token, WBT. This helps to keep trading costs low and maximize your profits.
How to Sign Up for WhiteBIT?
- Step 1: Go to the WhiteBIT website (https://whitebit.com) and click on the “Sign Up” button in the top right corner.
- Step 2: Enter your email address and create a strong password in the registration form. Make sure to use a unique password that you haven’t used on other websites.
- Step 3: Agree to the Terms of Use and Privacy Policy, then click on the “Create account” button to complete the registration process.
- Step 4: After creating your account, you will need to verify your email address. Check your inbox for a verification email from WhiteBIT and click on the confirmation link to verify your email.
- Step 5: Once your email is verified, log in to your WhiteBIT account. To access all features and increase your account limits, you should complete the identity verification (KYC) process.
- Step 6: To start the KYC process, go to the “Account settings” and open the “Verification” section. Follow the instructions provided to submit your identification documents, such as a government-issued ID and proof of address.
- Step 7: After submitting your documents, wait for the WhiteBIT team to review and approve your verification. This process usually takes a few business days.
- Step 8: Once your identity is verified, you will have full access to all features on WhiteBIT, including depositing funds, trading, and withdrawing your cryptocurrencies!
Trustpilot Ratings and Reviews of WhiteBIT
WhiteBIT rates 3.5 out of 5.0 on Trustpilot! (Which is pretty decent but needs some improvement)
Review 1: This user gives WhiteBIT an excellent 4 star rating!
Review 2: This user claims WhiteBIT is the best place to sell and buy crypto! Read the full review below!
Review 3: This particular user is in awe with their user friendly interface as already mentioned in the review 😉
Got Questions on WhiteBit? Let’s Answer Them
Does WhiteBIT Offer Trailing Stop Orders?
No, WhiteBIT does not have built-in trailing stop orders, but the GoodCrypto app can provide this functionality for trading on WhiteBIT.
What is 2FA, and Why Is It Important?
2FA (two-factor authentication) adds an extra layer of security by requiring a one-time code in addition to your password when logging in or withdrawing funds.
Are there AML Checks on WhiteBIT?
Yes, WhiteBIT performs AML (Anti-Money Laundering) checks to comply with regulations and ensure the platform’s security.
How do I Deposit Cryptocurrency on WhiteBIT?
To deposit cryptocurrency, log in to your account, go to the “Deposit” section, select the cryptocurrency you want to deposit, and send funds to the provided deposit address.
Where Can I find Information on Deposit Fees and Limits?
Information on cryptocurrency deposit fees and limits is available on the “Fees” page of the WhiteBIT website.
What Should I Specify when Making a Cryptocurrency Deposit?
When making a deposit, you should specify the correct deposit address provided by WhiteBIT for the specific cryptocurrency you are depositing.
How Can I Protect My WhiteBIT Account?
You can protect your WhiteBIT account by enabling 2FA, using strong and unique passwords, and following best security practices.
Bottom Line
What are your thoughts about the whiter than white – WhiteBIT? 🤭
WhiteBIT definitely stands out as a top-tier cryptocurrency exchange platform!
WhiteBIT is an excellent choice, for beginners and pros alike!
Don’t miss out on the opportunity to trade with confidence!
Take advantage of the platform’s innovative features, such as margin trading, futures contracts, and crypto lending!
Sign up for WhiteBIT today and experience the seamless trading environment that has made it one of Europe’s leading cryptocurrency exchanges.
All the best!
