WhiteBIT Exchange Review
WhiteBIT is a centralized exchange that occupies #49 on Guru InvestingExchange Tracker. WhiteBIT has trading volume US$828,897,292 in the last 24 hours and US$369,589,384,312 in the last 7 days.
WhiteBIT currently has 232 cryptocurrencies, 10 paper currencies and 333 markets (cryptocurrency trading pairs). The most popular trading pair on WhiteBIT: BTC/USDT.
Compare WhiteBIT next to other exchanges here: Exchange comparison tool.
WhiteBIT is a centralized cryptocurrency exchange (CEX). Developed in Ukraine, it is considered one of Europe’s largest cryptocurrency exchange service providers. Traders of the WhiteBIT crypto exchange can gain access spot and derivatives markets, margin and P2P tradingas well as additional services such as DEX and staking.
WhiteBIT is KYC compliant and requires identity verification to access trading. The platform is available in more than 190 countries. However, users from a number of countries, including the USA, Syria, Pakistan, Russia, the Autonomous Republic of Crimea, as well as other Russian-occupied territories of Ukraine, have limited access to WhiteBIT cryptocurrency exchange services.
Markets
WhiteBIT makes it easy crypto-crypto as well as crypto-fiat trading. Additionally, users can transfer both paper and digital assets peer-to-peer using WhiteBIT codes. The platform hosts its own token, VBT. In total, there are over 270 cryptocurrencies available, representing over 350 WhiteBIT trading pairs.
Traders have several markets to choose from: WhiteBIT spot and derivatives markets are basic services. Margin trading included, which allows leverage up to 20x. The deal matching engine is custom built and scalable. There are six types of trading orders in total.
Registered users can access four types of balance pages Easier to manage your funds. Each price of the WhiteBIT cryptocurrency on balance sheets is expressed in USDT. Four types of balance:
- General
- Basic
- Trade
- Pledge
Final balance The section provides a general summary of all account balances. main balance where assets are sent after making a fiat or cryptocurrency deposit. trade balance shows the balance used to place orders and exchange currencies. collateral balance relevant for margin and futures traders.
The default trading commission on the WhiteBIT exchange is 0.1%.. However, this rate may be reduced if you hold WBT tokens in your account. In addition, margin traders pay a daily commission of 0.078% for using their funds.
The derivatives market uses Perpetual contacts with USDT margin. WhiteBIT cryptocurrency fees for futures traders are fixed at 0.035% for takers and 0.01% for makers. Additionally, perpetual contracts can be traded with leverage up to 20x.
In addition to the spot and derivatives markets, the platform also offers Bitcoin Global, a peer-to-peer (P2P) crypto exchange. Users can trade BTC and USDT using instant transfers. During the first month of trading, no commissions are charged, regardless of WhiteBIT volume.
Customers who join the referral program are eligible to receive back up to 50% of WhiteBIT exchange commissions for their referrals. The rate is added to the main balance on the first day of each month.
Most deposits on the WhiteBIT cryptocurrency exchange are free when using cryptocurrencies, including stablecoins. Deposits can also be made in Euros or US dollars. Withdrawal fees may vary depending on the asset chosen. Both deposit and withdrawal fees may apply to fiat currencies. Prices will be indicated in the selected currency.
other services
Although the WhiteBIT crypto exchange is centralized, the platform also hosts Whiteswap. This automated market maker (AMM) which acts like decentralized cryptocurrency exchange (DEX). WhiteSwap runs on the Tron and Ethereum blockchains. This product is owned by the user and distributes a governance token. VSD.
Crypto Deposit is a tool for generating passive income by placing tokens. Customers can choose from several different active plans. There are restrictions on the minimum and maximum deposit amount depending on the plan chosen.
Developers can access WhiteBIT API tools. They can be used to access real market data and implemented as an open source integration. API endpoints provide information about trade balances, orders, and other cached information.
About company
WhiteBIT cryptocurrency exchange was founded Vladimir Nosov in 2018. The company was founded in Ukraine, registered in Lithuania, Vilnius.
Based WhiteBIT’s average daily trading volume is US$2.5 billion., is considered one of the largest centralized cryptocurrency exchanges in Europe. As of August 2022, the platform’s web traffic increased by almost 250% over the year.
In June 2022, the WhiteBIT cryptocurrency exchange took part in the auction and purchased the Eurovision microphone, which was won by the Ukrainian group Kalush Orchestra. According to Nosov, the decision to purchase the trophy was made to support the Armed Forces of Ukraine.
At the beginning of August 2022, WhiteBIT announced the launch WhiteBIT Token (WTB), his native asset. According to the team, the price of the WhiteBIT cryptocurrency is designed for deflation, given its limited supply of 400 million. The announcement also confirmed that the platform has over 4 million users worldwide.
Vladimir Nosov is the CEO of WhiteBIT. In 2012, he also co-founded the retailer Vivaparket. Nosov is an entrepreneur specializing in business development, strategy and management.
WhiteBIT related pages
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
