WhiteBIT is a European-based crypto-to-crypto and crypto-to-fiat exchange. It meets all European regulatory requirements for cryptocurrency exchanges. Launched in 2018, WhiteBIT exchange has more than 300,000 users across 190 countries in regions spanning Europe, Asia, and Latin America. Although it operates globally, WhiteBIT is currently focused on the European and CIS markets. WhiteBIT’s competitors are Bitmex, Bybit, FTX, Bitfinex, and Deribit.
You can access the WhiteBIT crypto exchange on the smartphone app or the website. Notably, the WhiteBIT smartphone app supports Android and iOS devices.
WhiteBIT describes its goal as providing a secure and easy trading platform to encourage uptake of blockchain technology and expand the crypto community. WhiteBIT’s distinguishing features include instant order execution, competitive fees, security, and a simple interface that anyone can use regardless of their experience level.
WhiteBIT Cryptocurrency Exchange Partners
WhiteBIT has partnered with some top brands in crypto and technology worlds to ensure a great experience for its rapidly expanding community. Notable WhiteBIT partners include CoinMarketCap, TabTrader, Bitfury, Coin360, CoinGecko, Chain Adoption, and WinPlay.
WhiteBIT Exchange Tools
WhiteBIT offers several tools for both new and experienced traders to enable them to make the most of the exchange as they seek to grow their wealth. For example, traders can control their risks on WhiteBIT exchange by using Stop-limit and Stop-market orders. WhiteBIT traders can take advantage of these tools to prevent losses in a volatile market and forget about sleepless nights.
WhiteBIT also offers Private and Public API that enable traders to transfer assets between their primary and trade balances. Moreover, traders can use this tool to place or cancel orders.
Another WhiteBIT tool that new investors mainly would find useful is Demo Token. It is a free tool that people can put to use in a variety of ways. For example, traders new to WhiteBIT can use the Demo Token tool to test their trading skills on the exchange without first having to commit real money to trade. But WhiteBIT’s Demo Token tool isn’t just for starters. Pro-traders can also take advantage of the tool to try out trading strategies without losing money. Moreover, professionals can also use the WhiteBIT Demo Token tool to coach their trading students.
Notably, WhiteBIT sometimes runs a Demo Token trading tournament that gives new traders a chance to win 1 bitcoin.
WhiteBIT Exchange: Security Comes First
With a mission to drive uptake of blockchain technology and digital assets investing, WhiteBIT has made transparency and security its top priorities. Firstly, WhiteBIT requires traders to pass KYC (Know Your Customer) verification before making deposits or withdrawals on the platform. Moreover, WhiteBIT uses two-factor authentication and anti-phishing software.
These measures add another layer of protection to users’ accounts.
Additionally, WhiteBIT stores 96% of the digital assets on cold wallets. Notably, cold wallet storage is not connected to the internet, and that ensures protection from unauthorized access. On top of cold wallet storage, WhiteBIT exchange uses WAF to detect and block hacking attempts. Therefore, funds in your WhiteBIT account will always be safe even in case of a hacking incident. From KYC verification to two-factor authentication and cold wallet storage, WhiteBIT has implemented security measures to become the most reliable cryptocurrency exchange.
WhiteBIT Exchange Advantages
WhiteBIT exchange has several advantages for cryptocurrency traders, be they newbie or professional. Below are some of the features crypto traders would find attractive about this platform.
- Large trading pairs and despite and withdrawal options
WhiteBIT supports more than 150 trading pairs of crypto and fiat currencies. Examples of trading pairs available on the exchange include BTC/USD, BTC/USDT, BTC/RUB, DASH/BTC, DASH/USD, WAVES/BTC, BTC/UAH, ETH/BTC, ETC/BTC, and BCH/USD.
WhiteBIT also offers a broad option for fiat currency deposit and withdrawal, hence ensuring speed and convenience for users. Its partners in this area include Visa and MasterCard, Yandex, Advcash, Qiwi, Mercuryo, Geo-Pay, Interkassa, and Perfect Money.
- SMART Staking and earning interest on balances
SMART Staking is a WhiteBIT feature that allows you to earn interest on your deposit. You make a deposit to your main account in any currency, select a plan, and wait until the selected holding period elapses. WhiteBIT’s SMART Staking feature can interest you up to 18% on deposits in six months.
- Competitive trading fees
WhiteBIT cryptocurrency exchange has some of the lowest trading fees in the industry. The platform has a flat fee model capped at 0.10% maximum, which is competitive, considering the industry average is about 0.25%.
Additionally, WhiteBIT also has a lower withdrawal fee. For example, it charges 0.0004 BTC for bitcoin withdrawals, which is competitive to the industry average of 0.000812 BTC.
- Margin trading and competitive leverage opportunity
WhiteBIT exchange supports margin trading. Its margin terminal will allow traders to secure up to 25 times leverage. Notably, that will make WhiteBIT one of the European-based crypto exchanges offering industry competitive leverage for margin trading.
Finally, WhiteBIT has a referral program that allows users to make extra money on the platform. The program will enable you to receive 40% of the amount of fees paid by people you bring to WhiteBIT.
