Pros
Cons
Quick Summary
| Headquarters Location | Vilnius, Lithuania |
|---|---|
| Fiat Currencies Supported | USD, GBP, EUR + 7 others |
| Total Supported Cryptocurrencies | 277+ |
| Trading Fees | 0.10% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Mercuryo, UTORG, AdvCash, NixMoney, Checkout.com, GEO Pay |
| Support | Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Dealing with cryptocurrency exchanges can be both exciting and intimidating. The WhiteBIT exchange offers a welcoming presence for experienced traders and those new to the scene.
Partnering with FC Barcelona has enhanced WhiteBIT’s standing and highlighted its validity in the cryptocurrency space. The partnership symbolizes growth goals and plans for expanding its reach through crypto activities.
With its user-friendly interface, a broad range of assets available for trade, and dedication to security measures, this platform aims to excel in the crypto marketplace.
About WhiteBIT
WhiteBIT, a Ukrainian-founded crypto exchange launched in 2018, has swiftly become prominent in Europe’s cryptocurrency market. The platform has significant liquidity, as evidenced by its daily trading volume reaching $500 million, a clear signal of the trust it commands in the WhiteBIT community.
The sentiment towards WhiteBIT among users is varied. Although extensively used and greatly influenced by the market, user feedback yields only an ‘Average’ rating. This indicates that despite certain advantages offered by the platform, some aspects still need enhancement from a user perspective.
One diligent aspect of choosing WhiteBit for trading is significantly reducing exposure risks to dubious tokens through careful screening before listing new assets. This thorough vetting process highlights asset quality and often sways prospective traders’ decisions about whether or not to adopt WhiteBIT as their preferred digital currency exchange platform.
WhiteBIT has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram and YouTube.
WhiteBIT has a mobile app on both the Apple App Store and Google Play.
WhiteBIT Supported Cryptocurrencies
WhiteBIT supports trading on over 277 cryptocurrencies on their platform. This exchange currently supports 26 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies WhiteBIT supports
WhiteBIT allows traders to explore an extensive selection of crypto assets. This diverse range ensures that there’s something for every trader’s taste, from established cryptocurrencies like BTC and ETH to promising newer altcoins such as ADA and WhiteBIT’s native token, WBT.
For those who appreciate a classic approach, adding fiat currencies, including USD and EUR, facilitates blending traditional financial systems with digital currency. This integration is particularly appealing for individuals eager to trade crypto without initially needing to convert their traditional money into cryptocurrency. This platform also offers key trading pairs like BTC/USDT and ETH/USDT.
Trading Experience
WhiteBIT has created a platform with an interface that allows individuals to quickly create accounts and engage with crypto trading activities without hassle. Newcomers are equipped with learning tools such as demo tokens offered by WhiteBIT. These enable them to familiarize themselves with trading mechanics before entering market interactions.
WhiteBIT has a full-featured mobile application available on iOS and Android platforms. The app uses advanced technology and has a user-friendly interface similar to desktop versions. This setup facilitates uninterrupted access to markets regardless of time and location.
WhiteBIT Fees
WhiteBIT implements a fixed trading fee of 0.10% for both makers and takers. This approach lets traders devise their investment tactics without worrying about fluctuating trading fees.
Likewise, deposit fees can be a barrier for users contemplating an exchange platform. WhiteBIT alleviates this by eliminating charges on most crypto currency and asset deposits. Traders are then empowered to top up their accounts free from extra expenses. However, keep in mind that certain assets and methods might incur additional costs when making deposits or withdrawals.
WhiteBIT maintains manageable withdrawal fees to prevent the wearing down of the value of its customers’ holdings during asset transfers out of the platform. This helps keep the balance between generating revenue for the exchange and preserving user satisfaction in a trading framework.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | 0% |
| Deposit Fee (Credit/Debit Card) | 3.50% |
| Trading Fee | 0.10% |
| Withdrawal Fee (Bank Transfer) | 0% |
WhiteBIT supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.00025 BTC. The average across all other exchanges that we've reviewed is 0.000380 BTC. This means WhiteBIT charges below the industry average by 34.24%.
Security - Is WhiteBIT Safe?
WhiteBIT takes security seriously by implementing strong measures to protect users’ assets. With 96% of digital assets stored in cold wallets equipped with multi-signature access, WhiteBIT offers a secure environment against potential hacker attacks.
To add another layer of protection, the platform uses Two-Factor Authentication (2FA) to prevent unauthorized account access, ensuring that only verified users can perform sensitive actions. This additional account protection, including identity verification and anti-phishing features, further solidifies WhiteBIT as a secure platform.
WhiteBIT’s commitment to security also includes an insurance fund that provides a safety net of up to USD 30 million to cover users’ assets under extraordinary circumstances. There are also regular security audits and compliance with international security standards.
The exchange further encourages its users to take control of their security. Features such as device management, address management, and the promotion of security best practices like strong passwords enhance users’ ability to secure their accounts and block hacker attacks.
WhiteBIT Customer Support
Sometimes, dealing with a crypto exchange’s complexities requires a little help. WhiteBIT understands this and has a support system for assistance. Their comprehensive FAQ section lets users quickly find solutions to frequently encountered issues concerning deposits, withdrawals, and using the platform.
For queries not addressed on the FAQ page, WhiteBIT provides an email-based support system where users can obtain more personalized assistance. The speed and attentiveness of their support team play an important role in ensuring that every user feels acknowledged and appreciated while using the exchange.
Online communities like Telegram and Discord bring the spirit of collaboration in the WhiteBIT community to life. Here, users can interact with each other and WhiteBIT’s support staff members through conversations, competitions, quizzes, or special promotions.
WhiteBIT Support Channels
Unique Features and Programs
WhiteBIT is known not just for crypto trading but also for its special features and programs. For instance, the WhiteBIT Earn program offers users an avenue to generate passive income through lending their crypto assets in return for interest.
The exchange’s decentralized component, WhiteSwap, enables token exchanges and allows participants to contribute liquidity and influence governance decisions.
Possessing WhiteBIT Coin (WBT) provides various benefits, including reduced trade fees and complimentary withdrawals for select tokens. Its Launchpad facility grants early access to new cryptocurrency ventures, providing investors with opportunities to support emerging projects from the very beginning.
Whitechain, WhiteBIT’s blockchain network, completes its array of services. It serves as a foundational layer that allows developers and users to create and use decentralized applications.
How to Sign Up on WhiteBIT
- Create Account - Visit the WhiteBIT website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
WhiteBIT Alternatives
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
282+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
333+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
WhiteBIT stands out in the market as a prominent crypto exchange known for its wide variety of supported digital assets and user-friendly interface.
The platform maintains competitive fees and ensures strong security protocols to protect users. It also offers unique features like the Earn program, Launchpad, and WhiteSwap.
Overall, WhiteBIT is an attractive choice for traders looking for a reliable platform for handling their crypto transactions.
WhiteBIT FAQs
WhiteBIT uses advanced technological solutions to ensure security and stability; many traders actively use them. Prospective users should look at reviews and perform due diligence to determine their reliability.
WhiteBIT may be restricted in countries with strict cryptocurrency regulations or those under international sanctions. Users should check the latest terms of service on WhiteBIT’s official website or contact their support for the most updated list of restricted countries.
WhiteBIT operates within the regulatory frameworks of jurisdictions where it offers services. Potential users should look into the specific licenses and regulatory compliance that WhiteBIT adheres to, as this information can be subject to change and may vary by region.
WhiteBIT may require Know Your Customer (KYC) procedures to verify accounts and comply with regulatory standards. The extent of KYC required can vary based on the user’s country of residence and the services used on the platform.
WhiteBIT User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
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Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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