WhiteBIT Review

WhiteBIT is a centralized exchange that allows trading, earning passive income on crypto, and provides a Bitcoin mining pool-WhitePool. The exchange has its native coin – WhiteBIT coin, or WBT, on its own blockchain-Whitechain.

WhiteBIT is the largest European cryptocurrency exchange by traffic, offering over 900 trading pairs, 340+ assets, and supporting 8 national currencies. Founded in 2018 by Volodymyr Nosov, the platform is a part of W Group, which caters to more than 35 million customers worldwide. WhiteBIT has partnered with Visa, FACEIT, FC Juventus, and the Ukrainian national football team. The company’s mission is to drive the global adoption of blockchain technology.

WhiteBIT Main Products

Launchpad is a platform that offers opportunities to support promising crypto projects in their early stages. It also gives the WhiteBIT user community exclusive access to the project’s tokens before they enter the market.

Crypto Lending is a simple yet efficient tool that helps earn profits by lending crypto assets through one of the available plans. Plans differ depending on the rate, terms, and loan amount. The percentage depends on the storage term and the asset. Usually, it is possible to get from 0.4% to 17,71%. There are Fixed and Flex Crypto Lending plans: the latter allow for withdrawals without any limitations at any time.

Crypto Borrow allows borrowing specific cryptocurrencies for any term and using them for trading, transfers, or withdrawals.

WhiteBIT Codes are instant and free cryptocurrency transfers between wallets on WhiteBIT.

Anti-Money Laundering (AML) is a web page to check addresses for involvement in money laundering without exposing the client’s wallet.

Trading Competitions is a new competition format that allows traders of varying experience to participate in tournaments that match their trading skills. Prizes vary — it can be cryptocurrency offered by reaching the highest trading volume figures, competing for the best rP&L results, or participating in combined tournaments.

Auto-Invest is a feature that allows automatically invest in cryptocurrencies. Auto-Invest allows users to set up recurring purchases of selected cryptocurrencies by specifying an amount and frequency. Once set up, Auto-Invest will automatically invest in cryptocurrencies according to the schedule, incorporating dollar-cost averaging (DCA) into the crypto investment strategy without manual intervention.

WhitePool aggregates computing power from miners worldwide, providing a cost-effective alternative to solo mining. With a user-friendly interface and support for SHA-256, the pool ensures optimal resource allocation and stable income for professional crypto miners.

With Quick Send, it is possible to send crypto to anyone, anywhere, using just the nickname on the exchange. No complex wallet addresses—just a secure and convenient way to transfer funds instantly.

The Referral Program allows users to receive up to 50% of the trading fees paid by users who register with WhiteBIT via a personalized referral link.

The WhiteBIT Affiliate Program allows individuals to earn additional income by referring others to the platform, with customized terms and special offers. The crypto affiliate program offers a user-friendly interface for creating promotional campaigns, enabling participants to reach potential users across various platforms. Additionally, the program provides a convenient tracking system with detailed dashboards, making it simple to analyze data from each referral channel.

The WhiteBIT Ambassador Program is a network of exchange users who bring cryptocurrency to the public. The program helps to select potential ambassadors from among all applicants. The exchange offers ambassadors special terms of cooperation, in which they tell their audience about the platform.

Thanks to the VIP Program, users can be rewarded for consistently trading on the exchange. It is possible to get a 100% fee discount, priority support, and a personal VIP manager to help users reach new heights in crypto.

WhiteBIT Nova is the first-ever cryptocurrency debit card with cashback. WhiteBIT launched the card in partnership with Visa. There are no fees for opening or closing the card, as well as no usage fees. In addition, there is no initial deposit required for activation, allowing users to start using the card immediately without any prior commitments. The WhiteBIT Nova card is also fully integrated with Apple Pay, enabling secure, contactless cryptocurrency payments.

Gift Cards are digital gift cards intended to purchase goods and services on various platforms. The card can be purchased on the exchange with cryptocurrency. The availability of the cards depends on the location of the person who will use them.

WhiteBIT Trading Fees

WhiteBIT offers a transparent trading fee structure on the spot market: a 0.1% taker fee and a 0.1% maker fee. However, it is possible to reduce these fees further by holding WBT. The maximum discount on the maker fee is 100%, and on the taker fee, 80%.

Crypto Deposit and Withdrawal Methods and Fees

Fees, minimum deposit, and withdrawal limits for each cryptocurrency are available on the exchange in each supported network. Depositing cryptocurrency is usually free on the WhiteBIT exchange; there are rare exceptions for (e.g., Hoge Finance).

If a network is not specified, it means the exchange only supports one network. It is possible to check this by going to the Balances page (Main or General) and hovering over the chain icon next to the asset. Also, find this information in the Deposit and Withdrawal windows.

Stablecoins

This section is for the fees and limits for stablecoin deposits and withdrawals.

Please pay attention to the Name column, as it specifies the network for deposits and withdrawals. The fee amount for the same stablecoin may vary depending on the network used.

Fiat

This section provides information on fees and limits for fiat currency deposits and withdrawals, including EUR, USD, and other currencies. The Name column displays the payment methods for deposits and withdrawals. Fees may vary depending on the method.

Let’s look at an example with EUR.

EUR Checkout Visa/Mastercard: EUR represents the currency, while Checkout Visa/Mastercard indicates the payment provider.

Deposit/Withdrawal fee: 1.5% (for EU banks), with a minimum of 0.2 EUR. Example: A 0.2 EUR fee is charged for a 10 EUR deposit (minimum deposit amount).

Minimum/Maximum Deposit and Withdrawal limits per transaction: Minimum 10 EUR and maximum 10,000 EUR can be deposited/withdrawn at a time.

Supported Countries and Cryptos

WhiteBIT is available to most users, but there are some restrictions. For example, people from certain countries under sanctions, such as those on the FATF or the UN’s blacklist, or from places under U.S. embargoes, can’t use the platform. Additionally, U.S. citizens, residents, or entities owned by them aren’t eligible to access the services. If the client is considered a high-risk individual, such as a politically exposed person (PEP), or does not meet WhiteBIT’s compliance standards, the access might also be restricted. It’s important for users to follow local laws and regulations when using the platform.

Cryptocurrencies are organized by the markets: Spot, Margin, and Futures. Over 360 assets are available on the platform, organized into 750+ spot trading pairs and 270+ futures pairs.

WBT Coin

WBT (WhiteBIT Coin) is a native exchange coin. WBT provides many benefits to users, including up to a 100% discount on trading fees, daily free AML checks, fee-free ETH and ERC20 token withdrawals, a 50% increase in the referral link bonus, and much more.

Security

Cybersecurity is a top priority for WhiteBIT. WhiteBIT has become the first exchange to achieve the highest level of cryptocurrency security, receiving the Cryptocurrency Security Standard (CCSS) Level 3 certification. WhiteBIT received the highest rating, Level 1, under the Payment Card Industry Data Security Standard (PCI DSS) certification program. WhiteBIT is one of the three safest crypto exchanges in the world, according to CER.live audits, where it received the highest AAA rating. In September 2024, WhiteBIT received the Hacken 2024 Security Awards. An impressive 96% of WhiteBIT’s digital assets are safeguarded in cold wallets, making them inaccessible to online attackers. WhiteBIT uses a Web Application Firewall (WAF) for recognizing and blocking hacker attacks.

Compliance with the International Anti-Money Laundering Group (FATF) standards. Necessary KYC verification for accessing basic platform functionality ensures transparency and security for both the exchange ecosystem and other exchange users.  AML verification is a service/ecosystem project from WhiteBIT that checks crypto addresses for involvement in illegal activities.

Conclusion

As a result, WhiteBIT has evolved into a comprehensive cryptocurrency ecosystem that integrates trading infrastructure, financial instruments, and blockchain innovations within a single platform. Thanks to a wide range of services—from spot, margin, and futures trading to lending, mining, automated investing, and payment solutions such as the WhiteBIT Nova card—the exchange supports both retail users and professional market participants. Transparent fees, a wide selection of assets and trading pairs, and numerous earning opportunities are complemented by robust security measures and compliance standards. As part of the W Group, WhiteBIT continues to expand its ecosystem while promoting the broader adoption of blockchain technology and digital assets.

Pros and Cons

Advantages

• A wide range of products and services — WhiteBIT offers an extensive ecosystem that includes spot, margin, and futures trading, crypto lending and borrowing, an “Auto-Invest” feature, a Launchpad platform, WhitePool mining, and payment solutions such as the WhiteBIT Nova card.
• A wide selection of assets and trading pairs — The platform provides access to over 340 cryptocurrencies and more than 900 trading pairs, opening up a multitude of market opportunities for traders.
• Competitive trading fees — Standard fees for makers and takers are 0.1%, with significant discounts available for WBT token holders.
• High security standards — WhiteBIT holds a CCSS Level 3 certification, a PCI DSS Level 1 rating, and an AAA security rating from CER.live, with 96% of assets stored in cold wallets.
• Numerous earning opportunities — Users can earn additional income through credit plans, referral and affiliate programs, trading competitions, and staking-like tools.

Disadvantages

• Regional access restrictions — The platform is unavailable to users in sanctioned jurisdictions and to U.S. citizens or residents.
• Mandatory verification procedures — To fully utilize the platform’s features, KYC verification is required, which may limit anonymity.
• Fee variations depending on the network and payment method — Withdrawal and deposit fees may vary by blockchain network or fiat payment provider.
• A complex ecosystem for beginners — The large number of services and features may prove challenging for users who are just starting to trade cryptocurrency.
• Availability of certain services depends on location — Some features, such as gift cards or certain payment methods, may not be available in all regions.

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