Introduction
The WhiteBIT alternate is likely one of the largest European crypto-fiat exchanges from Ukraine. As an entity that’s based on the assumption that blockchain know-how is the longer term, the alternate strives to increase the horizons of the cryptocurrency neighborhood. That’s the reason the alternate is prolonged to 190 international locations of the world and serves greater than 4 million customers.
WhiteBIT meets the best safety necessities and is among the many world's high 3 cryptocurrency exchanges when it comes to reliability, with one of many highest AAA scores in response to Hacken.io audits and CER.stay certification platform in 2022.
It supplies its customers with greater than only a safe surroundings. It’s a centralized cryptocurrency alternate with round 350 buying and selling pairs, margin and futures with as much as 10x and as much as 100x leverage. It supplies customers with an intuitive interface, a helpful cell app, passive earnings instruments and low buying and selling charges.
As well as, the platform has its personal token referred to as WhiteBIT token (WBT). Holders of those tokens might be eligible for advantages.
WhiteBIT alternate particulars
| web site | https://whitebit.com/ |
| Accessible on cell | Sure |
| Variety of cash/tokens supported | 270 |
| Variety of supported buying and selling pairs | 350+ |
| Native cash | WhiteBIT Token (WBT) |
| Supported fiat forex | 10 |
| CEO | Volodymyr Nosov |
| Location of HQ | Lithuania |
| Firm proprietor | Volodymyr Nosov |
Historical past overview
Volodymyr Nosov based WhiteBIT in 2018 in Ukraine. In 2019, WhiteBIT launched a cell app and different ecosystem merchandise – Bitcoin World, WhiteSwap and Gagarin Present.
For the reason that starting of 2022, the alternate has entered into quite a few partnerships with Ukrainian authorities our bodies and corporations overseas and has begun to increase to different international locations.
At press time, the corporate has workplaces in 8 international locations worldwide and helps 13 languages.
A. Platform interface
WhiteBIT has a versatile desktop interface that enables customers to set all parts in response to the consumer's desired order.
The appliance has an intuitive structure and comprises all of the instruments for handy buying and selling on the go. WhiteBIT is appropriate with iOS and Android units. Thus, the WhiteBIT widget permits customers to simply monitor buying and selling pairs.
b. Key options and features
The WhiteBIT ecosystem consists of the next elements:
- WhiteSwap, DEX
- Bitcoin World, P2P alternate
- Whitepay, a crypto cost processing answer for companies
- WhiteEX, bodily playing cards, usable for deposits on the WhiteBIT alternate
- The Gagarin Present, an academic and leisure cryptocurrency present
The platform itself affords Spot, Futures and Margin buying and selling instruments. As well as, customers can generate passive earnings by holding property on WhiteBIT Earn.
Fast substitute
The interface helps to alternate cryptocurrencies for different cryptos or fiat for the present market charge and vice versa.
Spot and margin buying and selling
Spot buying and selling permits the shopping for and promoting of crypto-assets for the consumer's out there funds. Margin buying and selling on WhiteBIT permits prospects to borrow alternate funds for better income. Potential leverage values are 1x, 2x, 3x, 5x and 10x.
Orders
The platform has 5 orders with Restrict, Market, Cease Restrict, Multi-Restrict and Cease Market orders out there for each spot and margin buying and selling. There’s additionally an OCO order out there solely when buying and selling with leverage. The minimal order quantity is often 5.05 USDT. Nevertheless, it might range relying on the chosen asset.
Derivatives
WhiteBIT supplies perpetual futures contracts that permit customers to take a position on asset costs with out an finish date. The platform calculates the funding charge and settles in USDT each 8 hours. Greater than 30 pairs are supplied, together with BTC-PERP, ETH-PERP, ADA-PERP, XRP-PERP
Crypto loans
WhiteBIT Crypto Lending permits you to lend crypto property on the alternate with returns starting from 0.23% to 18.64%. You may select deposit phrases of 10, 20, 30, 90, 180 or 360 days. This is likely one of the best affords on the world market.
Crypto mortgage
WhiteBIT Crypto Borrow permits you to borrow digital property for any interval for buying and selling, transfers or withdrawals. Accessible property on the collateral stability act as collateral. The mortgage is activated when property are transferred from the Collateral Stability, with charges calculated from the second of switch. To repay the mortgage, merely return the borrowed property plus charges to your collateral.
Demo token
This can be a free asset that helps discover WhiteBIT buying and selling choices with out having to deposit actual funds. Customers can commerce and confer with different merchants.
WhiteBIT codes
WhiteBIT codes are an prompt and free strategy to switch funds to different WhiteBIT merchants. An alphanumeric code is generated for this. WhiteBIT codes are built-in into the ecosystem, so all ecosystem merchandise settle for WhiteBIT codes.
Referral program
Referrals can earn 40% of their buying and selling charges per thirty days, which will be elevated as much as 50% for proudly owning the platform's native token, WBT.
WhiteBIT Token (WBT)
The platform has its native asset, the WhiteBIT Token (WBT). Those that maintain and personal the token can take pleasure in precious bonuses to make buying and selling smarter and extra worthwhile. These embody decreased buying and selling charges, free AML checks by way of the alternate web site, free ETH and ERC20 token withdrawals, and elevated referral charges.
C. Supported Cryptocurrencies
WhiteBIT hosts roughly 350 buying and selling pairs and greater than 270 property, together with 6 stablecoins and 11 fiat currencies: EUR, USD, UAH, KZT, GEL, PLN, GBP, PLN, CZK, BGN and TRY. Stablecoins are DAI, USDT, TUSD, EURT, BRZ and USDC.
Along with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA) and others, WhiteBIT supplies entry to all widespread cryptocurrencies and is continually increasing the choice with a listing of recent tasks.
d. Supported fiat currencies on the WhiteBIT alternate
WhiteBIT alternate helps 6+ fiat currencies together with US Greenback, Euro, and so forth.
E. Buying and selling Charges
WhiteBIT supplies buying and selling on favorable phrases, because the price by no means exceeds 0.1%. By holding or proudly owning the alternate's native token, it’s attainable to utterly eliminate the creator price and stand up to 90% off the beneficiary price.
The price for utilizing leveraged buying and selling funds additionally doesn’t exceed 0.1% and is just paid if no less than a part of the order is executed.
F. Accepted Cost Strategies
Change prospects can simply deposit cash straight from their financial institution playing cards in EUR and USD by way of Checkout.com. Checkout.com is a digital cost platform with end-to-end cloud funds.
To make sure much more handy companies, WhiteBIT cooperates with the businesses Mercuryo and Utorg. They’re trusted fiat gateways that permit individuals to purchase cryptocurrencies straight with fiat. Each options assist to purchase digital property for as little as 25 fiat currencies.
Deposits can be found by way of AdvCash, GeoPay, SEPA, PayUnicard, NixMoney, Visa and Mastercard financial institution playing cards. Charges rely upon the cost technique, starting from 1 to three.5%.
Assist workforce
The WhiteBIT assist workforce is able to assist and resolve prospects by way of chat 24 hours a day. Customers can contact the assist workforce from the app and browser model. Questions are answered inside minutes.
Security and safety
WhiteBIT is among the many 3 most safe exchanges in response to CER.stay. It additionally undergoes common audits by Hacken, a well known crypto safety auditor.
The corporate evaluations the safety of customers. They will activate 2FA for extra account safety and allow an anti-phishing code to confirm incoming technical emails from the alternate.
There’s additionally a whitelist, which lets you work solely with chosen addresses. If enabled, it’s not attainable to ship cryptocurrency to addresses aside from these on the whitelist.
Achievements
The WhiteBIT alternate just lately added a brand new buying and selling pair to its portfolio. The final pair added to her portfolio was BTC/TRY. Within the final quarter of 2022, WhiteBIT issued its personal token, the WhiteBIT Token. As well as, the WhiteBIT alternate obtained the best score of AAA in response to the audits of Hacken.io and the certification platform CER.stay in 2022. As well as, WhiteBIT grew to become the official cryptocurrency alternate companion of FC Barcelona.
Professionals and cons
WhiteBIT is a centralized cryptocurrency alternate that boasts a excessive stage of safety and quite a lot of options that may enchantment to each novice and skilled merchants. Under are the professionals and cons of switching.
please
- As much as 0.1% buying and selling charges will be moreover decreased by holding or proudly owning WBT
- Adjustable as much as 100x leverage
- Greater than 270 property and round 350 buying and selling pairs on supply
- Perpetual futures buying and selling with one of many lowest market charges
- A handy cell software with all the required enterprise instruments
- Excessive stage safety
Disadvantages
- It solely helps 10 fiat currencies
- No risk to commerce with out KYC
Ultimate rating
- Providers supplied: 4/5
- Cryptocurrency Assist: 4/5
- Expenses: 4/5
- Safety: 4/5
- Overview Rating: 4/5
Abstract
To summarize, WhiteBIT is a centralized cryptocurrency alternate that provides quite a lot of options for each novice and skilled merchants. The platform has a number of benefits: low buying and selling charges, adjustable leverage as much as 100x, vast collection of property and buying and selling pairs, low-cost everlasting futures buying and selling, user-friendly cell software and sturdy safety measures.
Nevertheless, the platform has some drawbacks reminiscent of supporting solely six fiat currencies, restricted leverage choices, necessary KYC for all transactions and lack of direct assist channels.
Total, WhiteBIT is an effective selection for merchants who prioritize safety and are in search of quite a lot of buying and selling choices.
Ceaselessly requested questions
The alternate requires private data: identification paperwork, identify, age, residential tackle and a selfie with the paperwork. After submitting the information, the alternate's assist workforce will take into account it and difficulty a choice inside 24 hours.
Deposit is feasible by way of AdvCash, GeoPay, SEPA, PayUnicard, NixMoney, Visa and Mastercard financial institution playing cards.
The buying and selling price is a most of 0.1%. The buying and selling price will be decreased much more if the consumer holds or owns the platform's native token, WhiteBIT Token (WBT). The low cost can attain as much as 90% for the recipient and 100% for the producer.
At the moment, the alternate helps 10 fiat currencies: EUR, USD, UAH, KZT, GEL and TRY.
The Change doesn’t present its companies to residents or residents of the next international locations and territories: Afghanistan, American Samoa, US Virgin Islands, Guam, Iran, Yemen, Libya, Palestine, Puerto Rico, Somalia, North Korea, Northern Mariana Islands, USA, Syria, Sudan, South Sudan , Transnistria, the quickly occupied territories of Georgia, Nagorno-Karabakh, Northern Cyprus, Western Sahara, Ambazonia, Kosovo, the Republic of Belarus, the Russian Federation and the quickly occupied territories of Ukraine.
Disclaimer: The data offered on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any type. Coin Version shall not be answerable for any losses incurred on account of using mentioned content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
