What is WhiteBIT? Cryptocurrency Exchange Review – London Business News

The cryptocurrency market emerged not so long ago, and yet it has already given many people an opportunity to make money. However, traders need to find a reliable crypto exchange and avoid scammers.

In this article, we provide an overview of a rapidly growing WhiteBIT platform. It allows you to trade over 250 cryptocurrencies including the popular BTC, ETH, LTC and DOGE. Here you can not only buy crypto against state currency, but also exchange, trade and passively earn with it. Let’s discuss all the possibilities of this platform!

What is WhiteBIT and why should I use it?

WhiteBIT is a centralized European cryptocurrency exchange based in Ukraine. It has over 2 million customers worldwide. The platform offers over 450 trading pairs of well-known assets, of which over 30 are pairs with the local currency. The average daily trading volume is $1 billion.

The platform offers a variety of services to its customers. Here are some of the most prominent:

WhiteBIT supports 250+ assets (including DeFi tokens) in 450+ trading pairs. The platform also has demo tokens – free virtual tokens that can be used to practice trading.

The platform allows conducting transactions with borrowed funds. Order types such as Limit, Market and Trigger Stop Market are accessible for margin trading. People can trade with up to 20x leverage.

It is a unique tool of the platform designed for efficient passive income generation. The user can buy cryptocurrency, hold it in one of the available plans for 10, 90 or 360 days and earn a predetermined percentage.

You can invite your acquaintances to the exchange using a specific link and receive 40% of the trading fees they paid.

It’s a free virtual demonstration object to help get acquainted with the platform’s tools, test them, and learn how they work.

Is WhiteBIT a Safe Crypto Exchange?

Security is one of the main priorities of the WhiteBIT cryptocurrency exchange. It has an AAA rating and is among the top 3 safest trading platforms and top 2 most secured exchanges according to cer.live based on an independent hack audit.

The high level of safety and reliability is achieved through:

  • Two-Factor Authentication. It offers an additional protection for your account. In addition, if you use it in addition to the password, you must enter either a code received by SMS or application;
  • identity verification. Simply put, it is the user verification process that is required for security reasons. The exchange solicits personal information from the person to provide better security, prevent money laundering, and fund terrorism.

In addition to the above, over 96% of users’ digital assets are stored in cold wallets.

trading fees

The standard transaction fees at WhiteBIT is 0.1%. It may be lower for some couples but must not exceed 0.1%. This is competitive for the industry as most other exchanges charge between 0.20% and 0.25%.

How to set up an account with WhiteBIT

First you need to create an account Start trading on the stock exchange. That’s how it’s done:

  • Click Sign In in the top right corner of the main menu.
  • enter your email and a password in the appropriate field;
  • tick the boxes to accept the User Agreement and Privacy Policy;
  • press the “Next” button;
  • complete CAPTCHA;
  • Confirm your email by entering the confirmation code. That’s it!

You should verify your identity if you wish to access all features, including local currency deposits. For this you need a photo of your passport, ID card or driving license and a selfie with this document. In addition, you must fill out the profile with information about your full name, gender, date of birth and address. All of this is required to protect you from scammers.

After passing the verification you should make a deposit to your balance Buy and sell cryptocurrencies. Note that platforms commonly charge deposit fees. For most exchanges, fees vary between 0.5% and 5% depending on the currency chosen and the deposit method.

WhiteBIT is a good option for both newbies and experienced market participants. It has all the features and capabilities for efficient trading. The platform offers margin trading with up to 20x leverage and standard trading. People can make their trading even better with a professional, customizable platform. Right away, WhiteBIT is also suitable for beginners and offers different ones Payment Methods for buying digital assets.

The above information does not constitute advice or a recommendation from London Loves Business and is not intended to be relied upon by users in making (or not making) any investment decision. Appropriate independent advice should be obtained before making any such decision. London Loves Business accepts no responsibility for any winnings or losses.

Leave a Comment