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WhiteBIT crypto exchange review and features

WhiteBIT crypto exchange review and features

  • 14 March 2022
  • 111 View

WhiteBIT crypto exchange is operating in 190 countries. The company was founded in 2018 and currently serves more than two million users from around the world.

WhiteBIT employs over 350 people to provide a secure crypto gateway to countless traders and investors. It meets both KYC and AML requirements and offers secure storage and insurance. They claim that their main goal is to achieve mass adoption of blockchain technology and expand it as much as possible.

Key features and benefits of Whitebit crypto exchange

WhiteBIT is designed to meet the needs of traders and investors very efficiently. Traders have access to multiple markets with the option to trade in full Pro mode, while investors can buy crypto assets in seconds. And thanks to the Quick Swap option on the platform, it is even easier for traders and investors to exchange fiat or cryptocurrencies.

In other words, the WhiteBIT crypto exchange is an excellent choice for modern trading and investing. For a more detailed explanation of the features and benefits of using WhiteBIT, see the list below:

  • Buy Cryptocurrencies Instantly
  • Hundreds of crypto assets
  • Mobile iOS and Android apps available
  • Professional and beginner-friendly trading options
  • Advanced trading interface with all necessary tools
  • Massive connected P2P platform
  • Multiply your profits with margin trading
  • Staking is available for countless assets
  • Easy to understand stock market layout
  • 40% commissions from referrals
  • Great security features and account protection

Negatives & Cons of WhiteBIT crypto exchange

While WhiteBIT is undoubtedly a great crypto exchange, it does have some flaws. I also discuss these in more detail below.

  • Below average customer support
  • No learning portal

What services does the WhiteBIT crypto exchange offer?

WhiteBIT offers some of the best features a crypto exchange could have, including premium security, compliance with laws and regulations, trading options, and the ability to buy. Countless users also benefit from the variety of fiat currencies and payment methods that WhiteBIT crypto exchange accepts. I explain these and other WhiteBIT features and services below.

Buy Cryptocurrencies Instantly

Enabling users to buy cryptocurrencies quickly and hassle-free should be the priority of all crypto exchanges. We live in an advanced, fast, and efficient time where almost everything can be done within seconds. So why not expand into cryptocurrency? It seems WhiteBIT crypto exchange thought the same as the platform allows users to buy crypto assets in just a few seconds.

You can buy almost all major cryptocurrencies in seconds using credit or debit cards. Other payment methods may take a few extra minutes, but the process is still quick and relatively efficient. The option to buy cryptocurrencies is not buried in complicated functions. With a single click, you can access your balances and find the option to buy crypto assets instantly.

Hundreds of Crypto Assets

WhiteBIT has not compromised on the variety of cryptocurrencies on offer. While the selection of cryptocurrencies you can buy outright is small, you can easily exchange your purchase for any other asset you want later on.

WhiteBIT offers more than 400 trading pairs. This gives traders tremendous variety when it comes to their trading needs. Below is a selection of crypto assets available at the WhiteBIT crypto exchange:

This is just a glimpse – there are hundreds of other assets available. WhiteBIT is also constantly adding and replacing crypto assets to keep up with the latest crypto projects and offer what is trending in the blockchain industry.

Mobile apps available for iOS and Android

While WhiteBIT mobile apps for iOS and Android allow users to buy cryptocurrencies, they are specifically designed for trading. The app gives you access to everything, including full-fledged charts where you can switch between timestamps and use indicators. This means you can trade assets from anywhere without compromising on your experience.

You can start trading as soon as you download the WhiteBIT mobile app on a compatible device. The WhiteBIT crypto exchange app should work on most iOS and Android devices. If you are having trouble downloading the app on your Android device, WhiteBIT has provided their app’s APK file which you can directly download and then install.

Professional and Beginner-Friendly Trading Options

WhiteBIT crypto exchange recognizes that some traders already know what they are doing and others are still learning. Their exchange allows traders to choose between two options: Pro Trading and Basic Trading. Pro Trading helps users gain insights by including special features and options. For less experienced traders, Basic Trade eliminates complications and offers a simple, beginner-friendly interface. Although Basic Trade has fewer options, you can place orders quite efficiently.

If you are new I recommend starting with Basic Trading, exploring all the options for about a month, and then switching to the Pro Trade option for the best possible experience. This reduces the risk of losing money as you have taken the time to understand the markets and how they move.

Advanced trading interface with all the tools you need

WhiteBIT’s Pro Trade option gives you all the trading tools you need clearly and concisely. The most important aspect of any trading platform is the trading charts and at WhiteBIT crypto exchange, they are quite advanced.

The charts give a view of the market of a selected asset and how it is performing. It also provides information about the highest and lowest value of the asset in the last 24 hours or during the selected period. The charts also integrate a myriad of optional indicators to help you evaluate future opportunities and market conditions. The order book is displayed on the right side of the platform. Traders can fill orders from the order book in seconds.

Huge Connected P2P Platform

One of the reasons traders and investors appreciate the P2P market is that it offers multiple payment options. Countless crypto exchanges, including WhiteBIT crypto exchange, do not support bank transfers or other payment methods. With P2P markets, you can connect directly with other sellers and use their payment methods to buy the asset you want. The P2P market offered by WhiteBIT supports 100+ currencies and 50+ payment methods. More than 160 countries can access The P2P market is available in.

The P2P market offered by WhiteBIT is not available on the WhiteBIT crypto exchange. They have created a separate exchange for their P2P services called Bitcoin Global and users have to register separately on this particular platform. However, since it is connected to WhiteBIT, you can easily transfer your funds between both platforms without paying any additional fees.

Multiply Your Profits with Margin Trading

Margin trading can offer numerous benefits to traders with limited resources. Margin trading can give you the upper hand, allowing you to multiply your profits without having to invest a lot of money. But of course, the risk of losing your money is also greater than with simple spot trading.

For margin trading, the WhiteBIT crypto exchange currently offers traders 5x leverage. This is by no means the highest – some platforms offer up to 100x leverage – but you can still greatly multiply your winnings without putting your money at such great risk.

Staking is available for countless asset

Traders can stake their assets and earn profits from them through WhitBIT’s SMART staking section. WhiteBIT crypto exchange claims that the highest interest traders can earn on an asset is around 28%, which is very impressive. However, the best thing about using WhitBIT is the variety of assets you can use. You don’t have to go to the trouble of buying assets you don’t want just to stake them. Users can stake USDT, BTC, ETH, LTC, LINK, TRX, XLM, and many other cryptocurrency assets for potential returns after a specific period.

The shortest staking plan available at WhiteBIT crypto exchange is ten days. But of course, shorter timeframes mean lower returns. Before committing to any asset, be sure to review the period you are opting for along with the returns you will receive.

Easy to Understand Exchange Layout

The advanced technology of crypto exchanges like WhiteBIT can be confusing and intimidating for those who are not tech-savvy or familiar with the complicated features and terminology of the industry. But WhiteBIT crypto exchange provides a great, easy-to-understand user experience.

The platform is well developed and caters to amateur traders and investors. The entire create account process only takes a minute. Buying or trading crypto assets is not an unnecessarily complicated process. Also, each option available on the site is separate from the others, so it’s clear that you’re using the options you want to use.

40% commissions from referrals

You can earn money from referrals on WhiteBIT for free. You get 40% of the trading fees your referrals pay. Just make sure they sign up with your unique referral link.

There is no limit to the platform to how many referrals you can get. WhiteBIT even offers a calculator that shows you how much you can earn from referrals, depending on their trading volume.

Great security features and account protection

WhiteBIT complies with all KYC and AML requirements and focuses on making its platform secure. They believe that 96% of their digital assets are stored in cold wallets and it is for better protection. Also, they use various methods to detect hackers and security breaches.

They also offer security measures for their users’ accounts. Users can enable two-factor authorization and anti-phishing security mode so no one can access your data. You can even check your sessions and where you logged in to make sure only you are accessing your account.

WhiteBIT crypto exchange Fees

WhiteBIT Deposit Fees

The deposit fee at WhiteBIT varies a lot, mainly because they have multiple payment options. Below are the deposit fees related to different payment methods?

Crypto Deposits: Almost all cryptocurrency deposits are free

  • Advcash (EUR, USD, UAH, RUB): 1.5%
  • Perfect Money (EUR, USD): 3%
  • Visa/Mastercard Interkassa (EUR, USD, UAH, and RUB): The fee ranges from 2.7% to 4.5% depending on the fiat currency.
  • Kiwi (RUB): 2.5%
  • VISA/Mastercard (RUB): 3%
  • Yandex (RUB): 2.5%
  • GeoPay VISA/Mastercard (UAH): 5 UAH + 0.8%
  • UAH Visa/Mastercard: 0.7%

The minimum and maximum deposit amounts vary for each available method.

WhiteBIT trading fee

The trading fee at the WhiteBIT crypto exchange is only 0.1%. This fee compares incredibly well to other crypto exchanges. However, the platform does not offer discounts on the fee like other platforms. But even without discounts, you can still enjoy trading at a reasonable price.

WhiteBIT Fiat Withdrawal Fees

From method to method, the fiat withdrawal fee will vary. When withdrawing fiat currencies via WhiteBIT, the following fees apply:

  • Advcash (EUR, USD, RUB): 1.5%
  • Advcash (UAH): 4.5%
  • Perfect Money (EUR, USD): 3%
  • Visa/Mastercard Interbank (EUR, USD): 3.5% + 5 USD/EUR
  • Visa/Mastercard intercash (RUB): 4% + 50 RUB
  • Mastercard /Visa Interbank (UAH): 0.7%
  • Kiwi (RUB): 3%
  • VISA/Mastercard (RUB): 3% + 30 RUB
  • Yandex (RUB): 2.5%
  • GeoPay VISA/Mastercard (UAH): 0.8%
  • UAH Visa/Mastercard: 0.7%

WhiteBIT Crypto exchange Withdrawal Fees

Although crypto deposits are free, WhiteBIT crypto withdrawals are not. The fee is different for each crypto asset. To see these fees, you can visit the platform’s fees page.

Pros and cons of WhiteBIT

Advantages
  • Buy crypto-assets instantly
  • Over 400 crypto pairs are available
  • Professional and beginner-friendly trading
  • Staking is available for countless assets
  • Margin trading with up to 5x leverage
Disadvantage
  • Limited customer support – no live chat
  • No learning portals or guides
Verdict

WhiteBIT is an impressive all-around cryptocurrency exchange that is filled with useful options that are essential for the current generation of trading. Through their simple and advanced trading platforms, WhiteBIT has not only advanced the way one can trade but also made it easier for all types of traders.

With the simple and hassle-free signup process, anyone can start trading and investing with WhiteBIT right away, even before the verification process is complete. With their staking and referral programs, WhiteBIT crypto exchange also allows users to earn a few extra bucks without actually doing anything. If you want to trade and invest with additional benefits like margin trading, staking, and P2P market, WhiteBIT is an excellent choice.


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2 responses to “WhiteBIT crypto exchange review and features”

  1. Yanga Jili says:

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