WhiteBIT Review

WhiteBIT is a popular platform where people can buy, sell, and trade different cryptocurrencies. It has a user-friendly design and strong security features, making it a favorite for both new and experienced traders. WhiteBIT supports many cryptocurrencies and offers competitive fees, making it a good choice for anyone interested in digital assets. In this review, we will look at what WhiteBIT offers, its pros and cons, customer support, and overall user experience to help you decide if it’s the right exchange for you.

🏢 Headquarters	Lithuania
📅 Year founded	2018
🗺️ Regulation	–
💻 Trading platform:	WhiteBIT Crypto trading platform, TradingView
💰 Account currency:	USD, UAH, TRY, EUR, PLN, GBP, BNG, CZK, KZT
📊 Accounts:	Standard
💵 Withdrawal options:	–
💵 Deposit options:	Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Mercuryo, UTORG, AdvCash, NixMoney, Checkout.com, GEO Pay
🚀 Minimum deposit:	$0.01 (1 USDT)
⚖️ Leverage:	1:10
☪️ Islamic account (swap free)	No
🎮 Demo Account	Yes
💱 Spread:	–
🔧 Instruments:	Cryptocurrencies, USD, EUR
📋 Orders execution:	No data
☎ Customer Support:	24/7 (email support support@whitebit.com)
📚 Education	Yes

What is WhiteBIT?

WhiteBIT is a cryptocurrency exchange based in Lithuania with a European Exchange and Custody license. It has over 4 million users across Europe, Asia, and the CIS countries. The exchange has a 24-hour trading volume of USD 352 million, placing it 38th among global exchanges by trading volume. Binance was at the top that day, with a trading volume of USD 15.6 billion.

WhiteBIT offers a platform for trading and exchanging cryptocurrencies. It supports basic, spot, and margin trading. You can trade Bitcoin, Litecoin, Ethereum, Ripple, DASH, and many other altcoins. The exchange also supports USD and EUR.

For margin trading, WhiteBIT provides 1:10 leverage. Besides active trading, you can invest in blockchain projects with interest payments through Crypto Lending. The exchange has a standard referral program and fixed trading commissions. It includes a TradingView web terminal and a mobile trading app, as well as its own GitHub solution for the cryptocurrency business.

Currently, WhiteBIT does not allow investors from the US or the following countries to trade: Afghanistan, American Samoa, U.S. Virgin Islands, Guam, Iran, Yemen, Libya, Palestine, Puerto Rico, Somalia, North Korea, Northern Mariana Islands, Syria, Russia, Belarus, Sudan, Transnistria, occupied territories of Georgia, Northern Cyprus, Western Sahara, Ambazonia, Kosovo, South Sudan, and occupied territories of Ukraine.

Pros and Cons

Pros	Cons
Supports Bitcoin, many altcoins, tokens, and 10 fiat currencies like USD and EUR.	Communication is only available through the website and email; there is no call center or other quick contact methods.
Offers large trading volumes, high liquidity, and a strong security system.	Lacks advanced training options, except for Crypto Lending.
Provides basic trading for beginners, along with spot and margin trading, P2P exchange, and a free multi currency account.
Has various ways to deposit and withdraw funds, including e-wallets, bank cards, and transfers.
Features an easy and profitable system for investing in blockchain projects linked to the exchange.
Charges a flat commission of 0.1% per trade with no extra fees.
Offers FAQs on crypto trading basics and a demo token for education and training.

Commissions and Fees

WhiteBIT cryptocurrency exchange charges a 0.1% commission on all transactions. This fee does not change based on factors like trading volume or asset type, though it may be lower for some assets. You can find the exact commission amount on the “Trades” page when placing an order.

When you withdraw funds, WhiteBIT charges a fixed fee depending on the asset type. For example, withdrawing Bitcoin costs 0.0004 BTC, withdrawing USDT (TRC20) costs 2 USDT, and withdrawing USDC costs 10 USDC.

WhiteBIT also charges a deposit fee. The fee varies based on the deposit method. For instance, depositing USD via a bank card incurs a fee of USD 5 plus 3.5% of the deposit amount. Depositing via Perfect Money costs 3%, and via AdvCash costs 1.5%. Some assets, like BTC and ETH, do not have deposit fees. You can find more details in the “Commissions” section on the main page of the crypto exchange website.

Withdrawal fees depend on blockchain fees and asset prices and may change without notice. Always check the information on the withdrawal page before completing a transaction.

Investment Options

WhiteBIT crypto exchange has one investment option: Crypto Lending. This system lets any user on the platform invest and earn interest on their deposit without actively managing it.

WhiteBIT’s Affiliate Program

WhiteBIT offers a simple one-level referral program. To join, first register and verify your account. Then, go to the “Referral program” section and click the “Get a link” button. You will get a personal referral link that you can share anywhere.

When someone clicks your link, they become your referral. Once they register, verify their information, make a deposit, and start trading, you earn 50% of their trading commissions.

You will keep earning as long as your referral continues to trade on the platform. There’s no limit to the number of referrals you can have. However, you won’t earn from users who are referred by your referrals. You can view all your referral and payment details in the “Referral program” section. Payments are made on the first day of each month at 00:00 UTC.

Customer Support 

WhiteBIT has a detailed FAQ page where users can find answers to most questions. For questions not covered in the FAQ, users should email support. There is no live chat support available.

Conclusion

After looking at the trading options and reading reviews from WhiteBIT clients, we recommend this company. Most reviews show that clients are very satisfied with WhiteBIT. If you live in an area where WhiteBIT is allowed, it’s a great choice. They accept many different fiat currencies and offer a wide range of digital assets and trading pairs. Their trading fees are among the lowest in the industry, and you can lower them even more with WBT Coin. If you’re in Europe and need a new crypto exchange, WhiteBIT is definitely worth considering.

FAQs

Are WhiteBIT’s fees high?

WhiteBIT charges a flat fee of 0.10% for each spot trading order. This fee is lower than the industry average, making it friendly for users.

What is the minimum deposit on WhiteBIT?

WhiteBIT has low minimum deposit requirements. For example, if you deposit Bitcoin, the minimum amount is 0.0005 BTC (which was about USD 12.30 on February 16, 2023).

How long does it take to withdraw from WhiteBIT?

WhiteBIT says that withdrawing crypto assets usually takes between 1 and 60 minutes.

Has WhiteBIT ever been hacked?

As of February 16, 2023, there are no reports of WhiteBIT being hacked.

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