Whitebit.com review: Whitebit is a cryptocurrency exchange that was established to provide users with a secure and reliable platform for trading a wide range of digital assets. The exchange offers a user-friendly interface and a variety of features designed to meet the needs of both novice and experienced traders.
One of the notable features of Whitebit is its emphasis on security. The exchange implements robust security measures, including cold storage of funds and two-factor authentication (2FA) for user accounts. Additionally, the platform conducts regular security audits to ensure the integrity and safety of user funds.
Whitebit offers a diverse selection of cryptocurrencies for trading, including popular and emerging digital assets. Users can access a wide range of trading pairs and take advantage of competitive trading fees. The exchange also provides advanced trading tools and features, such as limit orders, stop orders, and market orders, to facilitate efficient trading.
| 📅 Year of Establishment | 2018 |
| 💱 Coins: | 190+ |
| 💰 Min deposit | 0.0005 BTC |
| ⚖️ Leverage | 1:20 |
| 💹 Trading fees | the commission does not change – 0.1% of the trade amount, and no additional fees or charges |
| 💳 P2P platform | ❌ |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Seychelles, Europe |
Overall Whitebit.com Review
In conclusion, Whitebit is a reputable cryptocurrency exchange that offers a secure and user-friendly platform for trading a diverse range of digital assets. With its focus on security, competitive fees, and reliable customer support, Whitebit aims to provide an optimal trading experience for cryptocurrency enthusiasts.
Go to Whitebit.com website
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Best customer reviews of Whitebit.com
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Whitebit offers a user-friendly interface that is easy to navigate, making it a suitable platform for both novice and experienced traders. The exchange provides a wide selection of cryptocurrencies, allowing users to access various investment opportunities. The trading fees on Whitebit are competitive, ensuring cost-effective trading. Additionally, the platform prioritizes security measures such as two-factor authentication and cold storage of funds, which instills confidence in the safety of user assets. The responsive customer support team is another positive aspect, as they promptly address user inquiries and concerns.
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Whitebit's liquidity for certain trading pairs can be limited, resulting in potential challenges when executing trades, especially for less popular cryptocurrencies. While the exchange provides a range of basic trading features, it may lack some advanced tools and functionalities that more experienced traders might require. The platform's reputation, being relatively new compared to more established exchanges, may also lead to some hesitation among users who prefer well-established platforms with longer track records.
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One area of improvement for Whitebit is the limited availability of fiat currency support. Although the exchange offers multiple deposit and withdrawal options, the lack of support for a broader range of fiat currencies restricts accessibility for some users. Additionally, the platform could benefit from enhancing its range of advanced trading features to cater to the needs of sophisticated traders who rely on advanced order types and analytical tools. These improvements would further enhance the overall trading experience on Whitebit.
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Expert Review
Expert Review of Whitebit.com
As a financial expert, I have assessed the reliability of the Whitebit exchange based on various factors. Whitebit has established itself as a reputable platform in the cryptocurrency industry. The exchange prioritizes security by implementing robust measures, including two-factor authentication and cold storage of funds. This demonstrates their commitment to safeguarding user assets against potential cyber threats.
Whitebit has a user-friendly interface that caters to both beginner and advanced traders. The platform provides a seamless trading experience with quick order execution and minimal downtime. Their high trading throughput ensures efficient and reliable trading operations.
However, it is important to note that Whitebit is a relatively new exchange compared to more established platforms. While they have made significant strides in building a reliable reputation, some users may prefer exchanges with longer track records and greater industry recognition.
In conclusion, Whitebit demonstrates a strong commitment to reliability through its emphasis on security, user-friendly interface, diverse range of listed cryptocurrencies, and responsive customer support. While its relative novelty in the industry may cause some to approach with caution, the platform's overall reliability and dedication to user satisfaction make it a promising option for cryptocurrency traders.
Financial expert and analyst at TradersHero.com
Risk Warning. Trading on Whitebit, like any investment activity, involves inherent risks that users should be aware of. Cryptocurrency markets are highly volatile, and the value of digital assets can fluctuate significantly. It is important to understand that there is a possibility of financial loss when trading on Whitebit or any other exchange.
Whitebit.com Ern
Investment Programs
Whitebit's crypto lending program, “Earn,” consists of two main programs: Fixed Term Lending and Flexible Lending.
- Fixed Term Lending: The Fixed Term Lending program allows users to lend their digital assets to Whitebit for a fixed period of time at a predetermined interest rate. Users can choose from various lending terms, such as 7 days, 30 days, or 90 days, depending on their preference. The interest rate offered for each lending term may vary based on market conditions and demand for the specific asset.
- Flexible Lending: The Flexible Lending program offers users the flexibility to lend their digital assets without a fixed maturity period. Users can lend their assets on a daily basis and have the freedom to withdraw their funds at any time. The interest rate for Flexible Lending is typically lower compared to Fixed Term Lending, as users have the flexibility to enter and exit the lending pool whenever they choose.
Both programs provide users with an opportunity to earn passive income on their crypto holdings. The interest earned is calculated based on the amount of funds lent and the applicable interest rate for the selected program. The interest is typically paid out on a daily or periodic basis, depending on the program.
It is important for users to carefully review the terms and conditions of each lending program, including the associated interest rates, repayment schedules, and any applicable fees. Users should also consider the risks involved, such as the potential for default or changes in market conditions that may affect the value of the lent assets.
Overall, Whitebit's crypto lending programs offer users flexibility and the potential to earn passive income by lending their digital assets.
Staking is the process of holding and locking cryptocurrency assets in a wallet or on a platform to support the network's operations and earn rewards
It's important to note that staking involves locking up your funds for a specific period, and the rewards and terms may vary depending on the staking program. Make sure to understand the program details and risks associated with staking before participating.
Remember to consider the risks involved and conduct your own research before participating in any staking or savings program. Stay informed about the terms, rewards, and potential risks associated with Earn Programs to make informed decisions and maximize the benefits of the service.
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Conditions
Trading Conditions for Whitebit.com Users
Whitebit.com offers a range of trading conditions that cater to both experienced traders and beginners. The platform supports various account currencies, including cryptocurrencies and traditional currencies like USD and EUR. The minimum deposit requirement is 0.0005 BTC, making it accessible for traders with different budgets.
While Whitebit.com does not offer leverage, traders can still benefit from a 1:20 leverage ratio to amplify their trading positions. The platform operates with market commissions, ensuring transparent pricing and no hidden fees.
Users can trade a diverse range of instruments, including cryptocurrencies, USD, and EUR. The trading platform, developed by Whitebit.com, provides a seamless and user-friendly experience, equipped with features from TradingView.
The platform offers 24/7 customer support to assist users with any inquiries or issues they may encounter during their trading journey.
Whitebit.com provides an affiliate program, allowing users to earn additional rewards by referring new traders to the platform. Additionally, the platform offers investment opportunities through staking, allowing users to earn passive income on their cryptocurrency holdings.
It's important to note that Whitebit.com applies fixed commissions for withdrawals, which vary depending on the type of asset being withdrawn. Deposit fees may also apply, depending on the deposit method used, with different commissions for bank card, Perfect Money, and AdvCash deposits. For detailed information on commissions and fees, users can refer to the “Commissions” section on the Whitebit.com website.
| 📅 Year of Establishment | 2018 |
| 💱 Coins: | 190+ |
| 💰 Min deposit | 0.0005 BTC |
| ⚖️ Leverage | 1:20 |
| 💹 Trading fees | the commission does not change – 0.1% of the trade amount, and no additional fees or charges |
| 💳 P2P platform | ❌ |
| 🔁 Copy Trading | ❌ |
| 📈 Directives | ❌ |
| 📊 DeFi Staking | ✅ |
| 🖼️ NFT | ❌ |
| 🏦 Crypto Loans | ❌ |
| 🔓 Demo account | ✅ |
| 🚀 Launchpad | ✅ |
| 📱 Mobile apps | iOS, Android |
| 📞 Customer Service | 24/7 |
| 👩💼 Support | ✅ |
| 🗺️ Headquarters | Seychelles, Europe |
Risk Warning
Comparison
Comparison of Whitebit.com with other Crypto Exchanges
Crypto Exchanges comparison table of trading instruments
Commissions
Whitebit.com Accounts, Commissions & Fees
Whitebit.com offers different types of accounts with corresponding terms and commissions. Below is a more detailed overview of accounts, deposit requirements and commissions:
Standard Account: There is no minimum deposit requirement to open a standard account at Whitebit.com. This account allows you to trade a wide range of cryptocurrency pairs.
Deposits at Whitebit.com are made in a variety of cryptocurrencies and fiat currencies, including BTC, ETH, USDT and more. Specific minimum deposit amounts may vary depending on the type of account and currency selected.
Fees:
Whitebit.com's trading fees depend on the type of transaction (maker or taker) and the trading volume over the past 30 days. Total commission can be as low as 0.1% of transaction volume.
Withdrawal fees are also charged and may vary depending on the currency selected.
It is important to note that specific fees and terms are subject to change according to the policies and requirements of the platform. It is recommended to visit the official Whitebit.com website or refer to their documentation and FAQ for more information on accounts, deposits and fees.
WhiteBIT offers its clients who own WBT tokens the opportunity to enjoy discounted trading fees. By holding WBT tokens, users can receive substantial discounts on both taker and maker fees. The discounts can reach up to 90% on taker fees and up to 100% on maker fees. Interestingly, WBT holders can benefit from a maker fee reduction down to 0% starting from the first level of token holding. This incentivizes users to hold and utilize WBT tokens, not only for their potential value appreciation but also for the advantageous fee structure they provide on the WhiteBIT platform.
The fee for WBT owners (Owning)
| WBT on the balance | Maker fee discount, % | Taker fee discount, % |
|---|---|---|
| 400 | 10 | 5 |
| 1 000 | 20 | 10 |
| 5 000 | 40 | 15 |
| 10 000 | 60 | 20 |
| 15 000 | 80 | 25 |
| 30 000 | 100 | 30 |
| 50 000 | 100 | 35 |
| 100 000 | 100 | 40 |
| 1 000 000 | 100 | 80 |
| 3 000 000 | 100 | 90 |
Risk Warning
Final review
Detailed review of Whitebit.com
Whitebit.com is a comprehensive cryptocurrency exchange that provides a user-friendly platform and a wide range of features for traders interested in the digital asset market. The platform offers a clean and intuitive interface, making it easy for both beginners and experienced traders to navigate and execute their trades efficiently.
Whitebit.com strives to maintain a high level of liquidity to ensure smooth trading experiences for its users. The exchange collaborates with liquidity providers and employs market-making strategies to enhance liquidity for popular trading pairs. This helps reduce slippage and provides traders with more favorable trading conditions.
One of the notable advantages of Whitebit.com is its extensive selection of cryptocurrencies and digital assets available for trading. Users can access popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as a variety of altcoins. The exchange continuously updates its asset listings to keep up with market trends and provide users with diverse trading opportunities.
In terms of trading fees, Whitebit.com has a transparent fee structure based on the market type (maker or taker) and trading volume. The platform offers fee discounts for users who hold and utilize the Whitebit Token (WBT). This token provides an opportunity for traders to enjoy reduced trading costs, making it an appealing option for cost-conscious individuals.
The customer support provided by Whitebit.com is responsive and reliable. Users can reach out to the support team through various channels, including email and live chat, to seek assistance or resolve any issues they may encounter. The dedicated customer support ensures that users can trade with confidence and have their concerns addressed promptly.
It's important to note that while Whitebit.com strives to operate in compliance with applicable regulations, the level of regulatory oversight may vary depending on the jurisdiction. Traders should consider their individual needs, conduct thorough research, and assess their risk tolerance before engaging in trading activities on any cryptocurrency exchange.
In conclusion, Whitebit.com offers a user-friendly platform, a wide range of digital assets, robust security measures, and responsive customer support. These factors contribute to a positive trading experience for users looking to participate in the cryptocurrency market.
Advantages:
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Whitebit.com Regulator
Whitebit.com is a cryptocurrency exchange that operates under the legal framework of Estonia. It is registered and licensed as a virtual currency service provider (Crypto Exchange License) in Estonia, which is known for its supportive regulatory environment for cryptocurrency businesses.
As a regulated exchange, Whitebit.com is required to adhere to various compliance and regulatory standards. This includes implementing robust Know Your Customer (KYC) procedures to verify the identity of its users and prevent money laundering and fraud. Users may need to provide personal identification documents and undergo verification processes before accessing certain features or higher account limits.
While Whitebit.com is regulated in Estonia, it is important to note that cryptocurrency regulations vary across different jurisdictions. Users should familiarize themselves with the applicable regulations and assess their own compliance obligations based on their residency and jurisdiction.
By operating under a regulatory framework, Whitebit.com aims to provide a secure and compliant trading environment for its users. However, it is always advisable for individuals to conduct their own research and due diligence before engaging in any cryptocurrency trading activities.
Risk Warning
Promotions
Bonuses Paid by the Whitebit.com
Bonuses
Whitebit.com offers several bonuses and incentives to its users, providing additional value and opportunities for traders. Here are some of the bonuses paid by Whitebit.com:
It's important to note that the availability and terms of these bonuses may vary over time, and users should refer to the Whitebit.com website or official announcements for the most up-to-date information on bonuses and promotions.
Education
Review of the Whitebit.com Education Program
Whitebit.com offers an educational program aimed at providing users with valuable resources and knowledge to enhance their trading skills and understanding of the cryptocurrency market. The education program consists of various educational materials and resources.
Educational tools:
Online Courses:
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Rating and Comments
Whitebit.com Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
On one hand, the platform offers a wide selection of cryptocurrencies and competitive trading fees. The user interface is intuitive and easy to navigate. However, I have experienced occasional slow response times and minor technical glitches. The customer support, while generally helpful, could be more prompt in addressing concerns. Overall, it’s a decent exchange with room for improvement in certain areas.
good exchange!
Great platform, I’ve been using it for a long time. highly recommend!
Binance is much better than this exchange