WhiteBIT Exchange Review — Pros, Cons, and Key Insights
If you’re looking for a reliable and innovative cryptocurrency exchange, WhiteBIT could be the ideal platform for you.
Founded in 2018 by Volodymyr Nosov, this crypto exchange has its roots in Ukraine. Today, it’s registered in Lithuania, with its headquarters in Vilnius. Over the years, WhiteBIT Exchange has evolved into Europe’s largest cryptocurrency trading platform, offering over 300 assets and boasting an average daily trading volume of $2.5 billion.
In this review, we’ll explore what makes WhiteBIT a standout in the crypto world, its unique advantages, and why it’s worth considering over other platforms.
One of the main reasons for WhiteBIT’s popularity among traders is its strong focus on security. The exchange ranks among the top 5 most secure crypto trading platforms globally (according to CER.live audits). It also undergoes regular cybersecurity evaluations, including audits by Hacken. WhiteBIT’s key security features include:
WhiteBIT operates seamlessly in various regions, allowing users to transact in local currencies. The exchange also takes an active role in supporting social causes, and contributing to humanitarian and volunteer initiatives.
👍Advantages:
👎Disadvantages:
What features does the WhiteBIT website and app offer?
The website includes sections such as Products (launchpad, passive income programs, WhiteBIT codes), Trade (spot and futures markets, and service to convert assets), та WB Ecosystem (WhiteSwap, Whitechain, and crypto payment solutions for businesses). The mobile app provides quick access to markets, crypto purchases, and trading via the main menu. Asset management is straightforward through the Wallet section.
Both the website and app also feature additional services, including the WhiteEX Card, gift cards, market analytics, and tools within WhiteBIT’s native token ecosystem. These features are discussed in greater detail below.
How to register:
Once these steps are complete, verify your email by entering the code sent to your inbox. After this, your account will be set up and ready to use.
To start trading, you’ll need to complete a mandatory verification process, which enhances security and protects against fraud. The process is straightforward and usually takes just a few minutes, though verification itself can take anywhere from 1 to 24 hours.
After registering, click on the verification notification at the top of the page. Select your country of residence and confirm that you are not a U.S. citizen. Fill out your personal details, including your full name, date of birth, and other required information. Select the type of document for identity verification. Upload a clear photo of the document. Complete the process by taking a selfie while holding the same document.
As a Ukrainian citizen, you can complete verification through the Diia app. To do this, go to the Verification section and select "Quick Verification with Diia". Use the Diia app to scan the QR code provided and approve access to your documents. After completing this step, your profile status will update to "Verified" once the process is finalized. However, keep in mind that this method may not always work, as some users have reported issues with verification via Diia. If possible, we recommend using the standard verification process with your international passport for a smoother experience.
To deposit funds, navigate to "Balances" → "Total" in the menu and select your preferred payment gateway. The minimum deposit for fiat is 10 USD/EUR.
You can withdraw funds in several ways:
To withdraw to a bank card, first exchange your cryptocurrency for fiat through the "Convert" option in the "Trade" section. After converting your funds, go to "Balances", select the currency you want to withdraw, and enter your card details. Withdrawals in USD, EUR, and other fiat currencies may take up to 48 hours, as they are processed via the Checkout service.
Cryptocurrency withdrawals work similarly to fiat withdrawals, but instead of entering card details, you’ll need to provide the recipient’s wallet address and select the appropriate network. Keep in mind that transaction speeds depend on network congestion and the number of confirmations required on the blockchain.
You also have the option to use Quick Send or WB Codes for withdrawals. Quick Send lets you transfer funds to another WhiteBIT account by simply entering the recipient’s username. A WB Code (WhiteBIT Code) is an alphanumeric code that enables quick transfers to other users, asset exchanges, or buying and selling on the Bitcoin Global P2P platform. To generate a WB Code, navigate to the "Create Code" page in the "Codes" section on the website. In the mobile app, this section is conveniently located on the home screen.
WhiteBIT offers a transparent and competitive fee structure:
Fiat transactions on WhiteBIT have a slightly different fee structure. Deposit fees range from 0.7% to 1.5%, depending on the payment method, while withdrawal fees are also 0.7% to 1.5%. In contrast, cryptocurrency deposits are completely free (0% fee).
WhiteBIT frequently runs promotions, offering users opportunities to earn a variety of rewards. For example, during a previous campaign, Lifecell users received 5 GB of internet, free minutes, and SMS, along with the chance to win prizes such as a MacBook Pro M1 or an iPhone 13. Active traders can participate in trading tournaments, competing to increase their trading volume. Prize pools in these tournaments typically range from 1,000 to 2,000 USDT, paid in cryptocurrency.
WhiteBIT offers a referral program where users can earn up to 50% of the trading fees generated by the traders they invite. The bonus amount depends on the referral's trading volume and whether the inviter holds WBT tokens. Holders of WBT tokens enjoy exclusive benefits, including discounts on trading fees, reduced interest rates on margin loans, and lower trading fees, as little as 0.66% for BTC, ETH, and USDT transactions.
The platform supports 9 fiat currencies: UAH, USD, EUR, GBP, PLN, TRY (Turkish Lira), BGN (Bulgarian Lev), CZK (Czech Koruna), and KZT (Kazakhstani Tenge). While fiat is primarily used for deposits, WhiteBIT also features fiat trading pairs on the spot market. Additionally, users can quickly convert assets to crypto using the quick conversion tool.
For beginners, WhiteBIT offers demo tokens such as DBTC (Demo BTC) and DUSDT (Demo USDT). These tokens can be activated in the "Codes" section with a single click and function like regular coins, allowing users to practice trading without financial risk.
The platform also supports 8 major stablecoins: USDT, USDC, TUSD, DAI, XAUT, BRZ, EURT, and UAHG.
One of the standout advantages of WBT ownership is participation in the Holdings program, which rewards users based on the number of tokens they hold. Benefits include reduced trading fees, free daily withdrawals of ERC-20/ETH tokens, increased referral bonuses (up to 50%), and priority access to new WhiteBIT features and products. Additionally, the WBT Boost program allows holders to stake their tokens for additional rewards, making it an attractive option for passive income generation.
WBT has a capped total supply of 400 million coins, creating scarcity and driving demand. Of this supply, 200 million coins are reserved and will be gradually unlocked over three years. A token-burning mechanism is also in place to maintain value and stability over time. Over the past year, WBT has shown notable growth, with its market capitalization consistently on the rise. This makes WBT a promising option for investors seeking assets with high potential.
Let’s now move on to analyzing the trading opportunities available.
To place a spot order, navigate to the "Trade" section and select the Spot option. From there, choose your desired trading pair and order type (we’ll cover the available order types on WhiteBIT in more detail later). Enter the amount of cryptocurrency you want to trade and specify your target price for the transaction. You can track all your open orders in the "Activity" section of your account dashboard.
Opening a futures trade is simple and intuitive. Begin by navigating to the "Trade" section and selecting the "Futures" option. Choose the futures contract you want to trade and adjust the leverage if applicable. Next, use the panel on the left to input the number of coins, select the order type, and indicate whether you’re buying or selling. Finally, confirm your order to complete the trade.
To join a tournament, simply choose from the list of active competitions that best align with your skills and trading style. Each tournament comes with its own set of rules, including specific trading pairs, evaluation criteria, and minimum trading volumes. Winners are determined based on metrics like the highest trading volume, best P&L performance, or a combination of both. A live leaderboard on the tournament page keeps participants updated on their rankings in real time. Rewards are credited to participants’ Main Balance within five business days after the tournament ends.
WhiteBIT also offers beginner-friendly tournaments for users within their first three months of registration. These competitions are designed to provide new traders with a less competitive environment, helping them gain experience and confidence. To ensure fair play, WhiteBIT enforces strict rules. For instance, self-trading to artificially boost trading volume is prohibited, and violations may lead to disqualification. Additionally, certain tournaments may be unavailable to participants in specific regions, in compliance with the platform’s policies.
How to get started:
Thanks to its simplicity and attractive returns, crypto lending is a popular choice among users. However, it’s essential to carefully evaluate the benefits and risks before committing.
Advantages of Crypto Lending on WhiteBIT:
Disadvantages to Consider:
It’s also worth noting that funds deposited into crypto lending are utilized by WhiteBIT for margin trading, generating returns for both traders and investors. Additionally, you are responsible for reporting and paying taxes on any earnings from crypto lending, in compliance with your local tax laws. Be sure to review the relevant regulations in your country to ensure compliance.
How the WhiteBIT Launchpad Works
If a project fails to meet the minimum vote requirement, all funds used for voting are automatically refunded to users' Main Balances.
Affiliate partners enjoy competitive commission rates and access to professional marketing tools designed to increase conversions and attract more users to both your channels and WhiteBIT. The program also includes exclusive offers for your referrals, creating a win-win situation for everyone involved.
To join the WhiteBIT Affiliate Program, submit an application with details about your channels (websites, social media, etc.), complete the KYC/KYB verification process, and gain access to a suite of marketing materials to help you promote the platform. Once approved, you’ll earn a commission on every trade made by your referrals.
TradingView is a tool for traders, offering advanced market analysis, strategy creation, and direct trading capabilities. With WhiteBIT’s integration, users can:
To get started, create accounts on WhiteBIT and TradingView and link them. Trading is available through both the TradingView desktop app and web version, providing flexibility for all users.
WhiteBIT’s Bug Bounty Program rewards users for identifying vulnerabilities and contributing to platform security. Participants must adhere to three fundamental principles:
The Bug Bounty Program offers rewards based on the severity of identified vulnerabilities, with payouts of up to $10,000 for critical issues. This program provides a valuable opportunity for tech experts to showcase their skills, enhance platform security, and earn significant rewards.
For market makers, WhiteBIT has created a specialized program to support their trading needs. Participants gain access to exclusive discounts, advanced trading automation tools, and VIP support.
Key Benefits of the Market Maker Program:
Looking ahead, WhiteBIT plans to introduce colocation services for ultra-fast transactions and trading with ultra-low latency.
To provide a well-rounded perspective, we analyzed real user reviews from active traders across various online platforms.
So, what do people think about WhiteBIT?
Overall, the feedback is overwhelmingly positive. Users frequently highlight the platform’s ease of use, robust functionality, and exceptional customer support. The intuitive interface is a standout feature, making it especially user-friendly for beginners. Tasks like placing orders and managing portfolios are consistently described as straightforward and easy to navigate.
Customer support garners high praise for its responsiveness and efficiency, often resolving even complex issues within 24 hours. During our research, we noticed WhiteBIT representatives actively engaging with users’ comments, offering assistance, or expressing gratitude for feedback. Another commonly praised aspect is the platform’s strong security features.
Crypto lending remains a popular feature among WhiteBIT users, although some have noted a slight decline in interest rates. Many also praise the platform’s continuous development, which has become increasingly evident over the past few years. WhiteBIT has introduced significant improvements, added new tools, and enhanced its overall service quality.
That said, there are a few areas where users have expressed dissatisfaction. Some have reported occasional technical issues, such as platform glitches and terminal freezes. Others highlighted the limited options for deposits and withdrawals, suggesting the addition of more protocols like BNB Chain or Arbitrum. Temporary account freezes during the verification process were also mentioned, although these cases were typically resolved quickly once the necessary documents were provided.
Despite these concerns, the overall user experience on WhiteBIT is overwhelmingly positive. While there is room for improvement, the platform’s team appears receptive to feedback and eager to address user needs. Furthermore, WhiteBIT’s active recruitment efforts, showcased in its Careers section, reflect the company’s focus on growth and commitment to expanding its capabilities.
WhiteBIT seamlessly supports transactions in different currencies and allows for easy integration with bank cards. Its ongoing development has made it increasingly popular and reliable. Beyond its technical merits, WhiteBIT actively supports Ukraine during the war, contributing to humanitarian projects and providing assistance to the military.
If you’re looking for a versatile cryptocurrency exchange that caters to your needs, WhiteBIT could very well be the perfect choice.
In this review, we’ll explore what makes WhiteBIT a standout in the crypto world, its unique advantages, and why it’s worth considering over other platforms.
What Is WhiteBIT? Key Facts About the Exchange
WhiteBIT is Europe’s leading cryptocurrency exchange, serving users in over 190 countries. The platform’s official website is available in seven languages.
One of the main reasons for WhiteBIT’s popularity among traders is its strong focus on security. The exchange ranks among the top 5 most secure crypto trading platforms globally (according to CER.live audits). It also undergoes regular cybersecurity evaluations, including audits by Hacken. WhiteBIT’s key security features include:
- 96% of assets stored in cold wallets.
- WAF (Web Application Firewall) to defend against hacking attempts (the exchange has never experienced a security breach).
- Two-factor authentication (2FA) for enhanced account security.
WhiteBIT operates seamlessly in various regions, allowing users to transact in local currencies. The exchange also takes an active role in supporting social causes, and contributing to humanitarian and volunteer initiatives.
👍Advantages:
- User-friendly interface for both the website and mobile app.
- Comprehensive trading tools with options for passive income.
- Transparent pricing policy with fixed fees.
- Robust multi-layered security ensuring high levels of asset protection.
- Beginner-friendly features such as demo accounts, responsive customer support, and a detailed FAQ section.
- Support for fiat transactions, enabling easy deposits and withdrawals.
- Additional earning opportunities through referral, affiliate, and ambassador programs.
👎Disadvantages:
- Limited range of assets available for margin trading.
- Small selection of fiat currencies (only 10 supported).
- Low liquidity in some trading pairs, leading to wider spreads in the order book.
Website and Mobile App
WhiteBIT is designed to meet the needs of both seasoned traders and beginners, offering access via a desktop website and a mobile app for iOS and Android. Both platforms provide identical functionality and an intuitive interface. For new investors, the mobile app stands out with its user-friendly navigation. User reviews are highly positive, with a 4.7 rating on the App Store and 4.4 on Google Play.
What features does the WhiteBIT website and app offer?
The website includes sections such as Products (launchpad, passive income programs, WhiteBIT codes), Trade (spot and futures markets, and service to convert assets), та WB Ecosystem (WhiteSwap, Whitechain, and crypto payment solutions for businesses). The mobile app provides quick access to markets, crypto purchases, and trading via the main menu. Asset management is straightforward through the Wallet section.
Both the website and app also feature additional services, including the WhiteEX Card, gift cards, market analytics, and tools within WhiteBIT’s native token ecosystem. These features are discussed in greater detail below.
Registration and Verification on WhiteBIT
To access all the features on WhiteBIT, you’ll need to create an account. The registration process is quick and user-friendly. You can sign up using your Apple account (for iOS users), Google account, or email address. If you choose email, you’ll need to create a unique password. There’s also an option to enter a referral code if you have one.
How to register:
- Accept the platform’s terms and conditions.
- Confirm that you are not a citizen of a country where WhiteBIT does not operate. This includes regions where cryptocurrencies are banned and temporarily occupied territories of Ukraine.
Once these steps are complete, verify your email by entering the code sent to your inbox. After this, your account will be set up and ready to use.
To start trading, you’ll need to complete a mandatory verification process, which enhances security and protects against fraud. The process is straightforward and usually takes just a few minutes, though verification itself can take anywhere from 1 to 24 hours.
After registering, click on the verification notification at the top of the page. Select your country of residence and confirm that you are not a U.S. citizen. Fill out your personal details, including your full name, date of birth, and other required information. Select the type of document for identity verification. Upload a clear photo of the document. Complete the process by taking a selfie while holding the same document.
As a Ukrainian citizen, you can complete verification through the Diia app. To do this, go to the Verification section and select "Quick Verification with Diia". Use the Diia app to scan the QR code provided and approve access to your documents. After completing this step, your profile status will update to "Verified" once the process is finalized. However, keep in mind that this method may not always work, as some users have reported issues with verification via Diia. If possible, we recommend using the standard verification process with your international passport for a smoother experience.
Managing Your Account: Deposits and Withdrawals
Before you start trading on WhiteBIT, it’s important to understand how to manage your wallet. You can fund your balance using the following methods:
- Cryptocurrencies
- Fiat currencies
- Direct cryptocurrency purchases with fiat
- WhiteEX Card
To deposit funds, navigate to "Balances" → "Total" in the menu and select your preferred payment gateway. The minimum deposit for fiat is 10 USD/EUR.
You can withdraw funds in several ways:
- To a crypto wallet or another exchange account
- To a bank card in UAH, USD, EUR, KZT, or other supported fiat currencies
To withdraw to a bank card, first exchange your cryptocurrency for fiat through the "Convert" option in the "Trade" section. After converting your funds, go to "Balances", select the currency you want to withdraw, and enter your card details. Withdrawals in USD, EUR, and other fiat currencies may take up to 48 hours, as they are processed via the Checkout service.
Cryptocurrency withdrawals work similarly to fiat withdrawals, but instead of entering card details, you’ll need to provide the recipient’s wallet address and select the appropriate network. Keep in mind that transaction speeds depend on network congestion and the number of confirmations required on the blockchain.
You also have the option to use Quick Send or WB Codes for withdrawals. Quick Send lets you transfer funds to another WhiteBIT account by simply entering the recipient’s username. A WB Code (WhiteBIT Code) is an alphanumeric code that enables quick transfers to other users, asset exchanges, or buying and selling on the Bitcoin Global P2P platform. To generate a WB Code, navigate to the "Create Code" page in the "Codes" section on the website. In the mobile app, this section is conveniently located on the home screen.
Fees, Limits, and Bonuses on WhiteBIT
WhiteBIT offers a transparent and competitive fee structure:
- Spot Trading → A standard fee of 0.1% for both makers and takers, with up to an 80% discount available for users holding WBT tokens.
- Futures Trading → Maker fee: 0.01%, Taker fee: 0.035%.
- Margin Trading → Daily borrowing fee: 0.0585%.
Fiat transactions on WhiteBIT have a slightly different fee structure. Deposit fees range from 0.7% to 1.5%, depending on the payment method, while withdrawal fees are also 0.7% to 1.5%. In contrast, cryptocurrency deposits are completely free (0% fee).
WhiteBIT frequently runs promotions, offering users opportunities to earn a variety of rewards. For example, during a previous campaign, Lifecell users received 5 GB of internet, free minutes, and SMS, along with the chance to win prizes such as a MacBook Pro M1 or an iPhone 13. Active traders can participate in trading tournaments, competing to increase their trading volume. Prize pools in these tournaments typically range from 1,000 to 2,000 USDT, paid in cryptocurrency.
WhiteBIT offers a referral program where users can earn up to 50% of the trading fees generated by the traders they invite. The bonus amount depends on the referral's trading volume and whether the inviter holds WBT tokens. Holders of WBT tokens enjoy exclusive benefits, including discounts on trading fees, reduced interest rates on margin loans, and lower trading fees, as little as 0.66% for BTC, ETH, and USDT transactions.
Trading Opportunities on WhiteBIT
WhiteBIT offers a broad range of assets, including both fiat currencies and cryptocurrencies.
The platform supports 9 fiat currencies: UAH, USD, EUR, GBP, PLN, TRY (Turkish Lira), BGN (Bulgarian Lev), CZK (Czech Koruna), and KZT (Kazakhstani Tenge). While fiat is primarily used for deposits, WhiteBIT also features fiat trading pairs on the spot market. Additionally, users can quickly convert assets to crypto using the quick conversion tool.
WhiteBIT provides access to 273 cryptocurrencies and approximately 450 trading pairs, including popular assets like BTC, DOGE, and XRP.
For beginners, WhiteBIT offers demo tokens such as DBTC (Demo BTC) and DUSDT (Demo USDT). These tokens can be activated in the "Codes" section with a single click and function like regular coins, allowing users to practice trading without financial risk.
The platform also supports 8 major stablecoins: USDT, USDC, TUSD, DAI, XAUT, BRZ, EURT, and UAHG.
WhiteBIT’s Native Cryptocurrency: WBT
In 2022, WhiteBIT introduced its native token, WBT (WhiteBIT Coin), which provides several utility features within the platform’s ecosystem. For instance, holding WBT grants users additional discounts on trading fees and access to the Launchpad program (details below). The coin can be purchased directly on the exchange, with a current price of 24.611 USDT.
One of the standout advantages of WBT ownership is participation in the Holdings program, which rewards users based on the number of tokens they hold. Benefits include reduced trading fees, free daily withdrawals of ERC-20/ETH tokens, increased referral bonuses (up to 50%), and priority access to new WhiteBIT features and products. Additionally, the WBT Boost program allows holders to stake their tokens for additional rewards, making it an attractive option for passive income generation.
WBT has a capped total supply of 400 million coins, creating scarcity and driving demand. Of this supply, 200 million coins are reserved and will be gradually unlocked over three years. A token-burning mechanism is also in place to maintain value and stability over time. Over the past year, WBT has shown notable growth, with its market capitalization consistently on the rise. This makes WBT a promising option for investors seeking assets with high potential.
Let’s now move on to analyzing the trading opportunities available.
Spot Trading
Spot trading is the simplest form of trading, involving the direct exchange of one asset for another. If you’re new to cryptocurrency, this is the best place to start. Unlike margin trading, spot trading only allows you to use assets you already own, making it a straightforward and lower-risk option.
To place a spot order, navigate to the "Trade" section and select the Spot option. From there, choose your desired trading pair and order type (we’ll cover the available order types on WhiteBIT in more detail later). Enter the amount of cryptocurrency you want to trade and specify your target price for the transaction. You can track all your open orders in the "Activity" section of your account dashboard.
Futures
A futures contract is an agreement to buy or sell a cryptocurrency at a specified price on a future date. Futures trading involves the buying and selling of these contracts rather than the underlying cryptocurrency. On WhiteBIT, all futures contracts are denominated in the stablecoin USDT, ensuring smooth settlement. Futures trading allows traders to profit from both rising and falling cryptocurrency prices. For those aiming to maximize their potential returns, WhiteBIT offers leverage of up to 100x, which can significantly enhance profitability. However, it’s important to remember that higher leverage also comes with greater risk.
Opening a futures trade is simple and intuitive. Begin by navigating to the "Trade" section and selecting the "Futures" option. Choose the futures contract you want to trade and adjust the leverage if applicable. Next, use the panel on the left to input the number of coins, select the order type, and indicate whether you’re buying or selling. Finally, confirm your order to complete the trade.
Margin Trading
Margin trading, found under the "Margin" tab in the "Trade" section, operates similarly to spot trading but with one key distinction: it allows you to open positions larger than the funds in your account. This is made possible through leverage, which on WhiteBIT goes up to 10x. The process for placing a margin trade is almost identical to placing an order in the futures market.
Types of Orders on WhiteBIT
When trading on WhiteBIT, after selecting your preferred trading pair or futures contract, you’ll need to choose an order type. WhiteBIT offers a variety of options, enabling you to tailor your trades to suit your strategy and market conditions.
- Market Order: The simplest order type, it executes immediately at the current market price. No additional setup is required, making it ideal for quick, straightforward trades.
- Limit Order: This order type allows you to specify the price at which you want to buy or sell an asset. The trade will only execute if (and when) the market reaches your chosen price.
- Stop-Market Order: This order is triggered when the market price hits a predefined stop level. Often used to minimize risk, stop-market orders automatically close a trade if the price moves unfavorably.
- Stop-Limit Order: Combining features of stop-market and limit orders, this type includes two price levels: the stop price, which triggers the order, and the limit price, which determines the execution price.
- Multi-Limit Order: This advanced order type lets you set multiple price levels for buying or selling assets, creating a grid of orders with predefined parameters. For example, you can define upper and lower price boundaries and arrange the grid using arithmetic or geometric progression.
Tournaments
Trading tournaments on WhiteBIT are an exciting way to challenge your skills and earn rewards. Open to traders of all experience levels, these competitions provide a platform to demonstrate your trading expertise and compete for prizes.
To join a tournament, simply choose from the list of active competitions that best align with your skills and trading style. Each tournament comes with its own set of rules, including specific trading pairs, evaluation criteria, and minimum trading volumes. Winners are determined based on metrics like the highest trading volume, best P&L performance, or a combination of both. A live leaderboard on the tournament page keeps participants updated on their rankings in real time. Rewards are credited to participants’ Main Balance within five business days after the tournament ends.
WhiteBIT also offers beginner-friendly tournaments for users within their first three months of registration. These competitions are designed to provide new traders with a less competitive environment, helping them gain experience and confidence. To ensure fair play, WhiteBIT enforces strict rules. For instance, self-trading to artificially boost trading volume is prohibited, and violations may lead to disqualification. Additionally, certain tournaments may be unavailable to participants in specific regions, in compliance with the platform’s policies.
Financial Products from WhiteBIT: Additional Ways to Earn
In addition to cryptocurrency trading, WhiteBIT offers a variety of financial tools that allow users to earn extra income and generate passive revenue. One of the most popular options is the crypto deposit.
Crypto Lending: Passive Income from Your Assets
For those focused on long-term investments, WhiteBIT offers crypto lending, an excellent way to earn passive income. Similar to a traditional bank deposit, you lend your cryptocurrency to the exchange and can earn up to 18.64% annually in return. With options to choose your asset, term (from 10 to 365 days), and rate, you can customize the plan to fit your financial goals.
How to get started:
- Go to the "Products" section and select "Crypto Lending".
- Explore the available plans and choose the one that works best for you.
- Confirm the terms and specify the amount of cryptocurrency you want to lend.
Advantages of Crypto Lending on WhiteBIT:
- High Returns → Earn up to 18% annually, depending on the term length and the cryptocurrency you choose.
- Flexibility → Select from a range of plans featuring popular assets like BTC, ETH, and USDT.
- Low Entry Barrier → Crypto lending is accessible even to beginners.
Disadvantages to Consider:
- Early Withdrawal Restrictions → Closing your lending plan before the term ends will result in forfeited interest.
- Fixed Plans → Once a plan is active, you cannot add more assets. You’ll need to wait for the term to end or start a new plan.
- Single Asset Limit → Each plan supports only one asset, so you can’t open multiple lending plans for BTC with the same term.
It’s also worth noting that funds deposited into crypto lending are utilized by WhiteBIT for margin trading, generating returns for both traders and investors. Additionally, you are responsible for reporting and paying taxes on any earnings from crypto lending, in compliance with your local tax laws. Be sure to review the relevant regulations in your country to ensure compliance.
WhiteBIT Launchpad: A New Way to Invest
In August 2023, WhiteBIT introduced Launchpad, a platform designed to help users invest in promising crypto projects during their early stages. This program allows users to support innovative initiatives and receive project tokens before they are officially launched on the market. To participate, users must hold at least 200 WBT in their Holding balance, which unlocks voting privileges for selected projects.
How the WhiteBIT Launchpad Works
- Project Selection
- Community Voting
- Token Distribution
If a project fails to meet the minimum vote requirement, all funds used for voting are automatically refunded to users' Main Balances.
Monetize Your Audience with WhiteBIT’s Affiliate Program
WhiteBIT’s Affiliate Program offers a fantastic opportunity to earn up to 60% of trading fees for every new user you refer to the platform. It’s a great way to turn your audience into a revenue stream while providing them with a reliable cryptocurrency trading platform.
Affiliate partners enjoy competitive commission rates and access to professional marketing tools designed to increase conversions and attract more users to both your channels and WhiteBIT. The program also includes exclusive offers for your referrals, creating a win-win situation for everyone involved.
To join the WhiteBIT Affiliate Program, submit an application with details about your channels (websites, social media, etc.), complete the KYC/KYB verification process, and gain access to a suite of marketing materials to help you promote the platform. Once approved, you’ll earn a commission on every trade made by your referrals.
Learn Risk-Free with Demo Trading
For those new to cryptocurrency, WhiteBIT offers demo trading, a risk-free way to practice and learn. Using virtual tokens like DBTC and DUSDT, you can test trading strategies and master the basics of trading without risking real funds. Simply activate demo tokens through your personal account and start trading in a simulated environment. Demo trading is the perfect way to sharpen your skills and gain confidence before moving on to real investments.
WhiteBIT Earn: What’s on the Horizon
The WhiteBIT Earn feature is currently under development, but the platform has exciting plans to expand its passive income opportunities. Soon, users will gain access to staking options and exclusive programs with additional perks.
Other WhiteBIT Projects
WhiteBIT is continually developing new features and initiatives to improve the platform’s usability and functionality. Key highlights include TradingView integration, a Bug Bounty Program, and a dedicated program for market makers.
TradingView is a tool for traders, offering advanced market analysis, strategy creation, and direct trading capabilities. With WhiteBIT’s integration, users can:
- Access over 400 pre-built and customizable indicators via Pine Script™.
- Get real-time updates on price movements and strategy changes.
- Test trading ideas using the built-in strategy tester and analytics tools.
- Practice risk-free trading with Paper Trading simulators.
To get started, create accounts on WhiteBIT and TradingView and link them. Trading is available through both the TradingView desktop app and web version, providing flexibility for all users.
WhiteBIT’s Bug Bounty Program rewards users for identifying vulnerabilities and contributing to platform security. Participants must adhere to three fundamental principles:
- Report vulnerabilities directly to WhiteBIT, without sharing them publicly.
- Ensure no harm is done to the platform or its users during testing.
- Act ethically, avoiding deception of WhiteBIT employees or other users.
The Bug Bounty Program offers rewards based on the severity of identified vulnerabilities, with payouts of up to $10,000 for critical issues. This program provides a valuable opportunity for tech experts to showcase their skills, enhance platform security, and earn significant rewards.
For market makers, WhiteBIT has created a specialized program to support their trading needs. Participants gain access to exclusive discounts, advanced trading automation tools, and VIP support.
Key Benefits of the Market Maker Program:
- Low Fees: Spot trading fees as low as 0.01% for makers and 0.020% for takers; futures trading fees of 0.01% for makers and 0.025% for takers.
- Flexible API: Designed to support the creation and execution of automated trading strategies.
- Sub-Accounts: Ideal for tracking asset performance and optimizing trading strategies.
Looking ahead, WhiteBIT plans to introduce colocation services for ultra-fast transactions and trading with ultra-low latency.
WhiteBIT Reviews: What Users Are Saying
Now that you’re familiar with how WhiteBIT works, the earning opportunities it offers, and its trading features, it might sound like an ideal platform for traders. But don’t just take our word for it.
To provide a well-rounded perspective, we analyzed real user reviews from active traders across various online platforms.
So, what do people think about WhiteBIT?
Overall, the feedback is overwhelmingly positive. Users frequently highlight the platform’s ease of use, robust functionality, and exceptional customer support. The intuitive interface is a standout feature, making it especially user-friendly for beginners. Tasks like placing orders and managing portfolios are consistently described as straightforward and easy to navigate.
Customer support garners high praise for its responsiveness and efficiency, often resolving even complex issues within 24 hours. During our research, we noticed WhiteBIT representatives actively engaging with users’ comments, offering assistance, or expressing gratitude for feedback. Another commonly praised aspect is the platform’s strong security features.
Crypto lending remains a popular feature among WhiteBIT users, although some have noted a slight decline in interest rates. Many also praise the platform’s continuous development, which has become increasingly evident over the past few years. WhiteBIT has introduced significant improvements, added new tools, and enhanced its overall service quality.
That said, there are a few areas where users have expressed dissatisfaction. Some have reported occasional technical issues, such as platform glitches and terminal freezes. Others highlighted the limited options for deposits and withdrawals, suggesting the addition of more protocols like BNB Chain or Arbitrum. Temporary account freezes during the verification process were also mentioned, although these cases were typically resolved quickly once the necessary documents were provided.
Despite these concerns, the overall user experience on WhiteBIT is overwhelmingly positive. While there is room for improvement, the platform’s team appears receptive to feedback and eager to address user needs. Furthermore, WhiteBIT’s active recruitment efforts, showcased in its Careers section, reflect the company’s focus on growth and commitment to expanding its capabilities.
Verdict
With its numerous strengths and only minor drawbacks, WhiteBIT comes highly recommended. The platform features a user-friendly interface, a robust mobile app, and a wide range of tools to help users earn with cryptocurrency.
WhiteBIT seamlessly supports transactions in different currencies and allows for easy integration with bank cards. Its ongoing development has made it increasingly popular and reliable. Beyond its technical merits, WhiteBIT actively supports Ukraine during the war, contributing to humanitarian projects and providing assistance to the military.
If you’re looking for a versatile cryptocurrency exchange that caters to your needs, WhiteBIT could very well be the perfect choice.
FAQ
How to Deposit Funds into Your WhiteBIT Account Using Privat24?
WhiteBIT supports fiat currencies, including Ukrainian hryvnia (UAH). To deposit funds via Privat24, navigate to the "Balances" section, select Deposit, choose UAH as your currency, and pick the payment method (fiat). Fiat deposits are handled through intermediaries, with GEO Pay available for UAH transactions. Confirm the transaction in Privat24. The funds will typically appear in your WhiteBIT account within five minutes. Note: WhiteBIT does not charge a deposit fee; however, GEO Pay applies a fee of 1.5% of the amount + 5 UAH.
How to Sign Up on WhiteBIT?
You can register on WhiteBIT through the website or mobile app. Click "Sign Up", enter your email address and create a secure password. Agree to the terms and conditions, and add a referral code if you have one. Verify your email by entering the 4-digit code sent to your inbox. Once verified, your registration is complete.
How to Earn on WhiteBIT?
WhiteBIT offers multiple earning opportunities:
- Cryptocurrency Trading: WhiteBIT offers robust tools for spot, margin, and futures trading.
- Passive Income: The platform offers crypto lending to earn interest, with staking opportunities expected to launch soon.
- Tournaments: Traders can compete in WhiteBIT-hosted trading tournaments for a chance to win exciting prizes.
- Quick Swaps: Users can perform instant cryptocurrency swaps without complicated settings, profiting from exchange rate differences.
How to Withdraw Funds from WhiteBIT?
To withdraw funds from WhiteBIT, go to the "Balances" section and click "Withdraw" next to the currency you want to withdraw. Select your preferred withdrawal method and network (if withdrawing cryptocurrency). Enter the amount, provide your card or crypto wallet details, review the information carefully, and confirm the transaction using the codes sent to your email and via two-factor authentication (2FA). Please note: Fiat withdrawals may take up to 48 hours to process. Cryptocurrency withdrawals are typically completed within 1 minute, but actual timing depends on network congestion and blockchain confirmation times.
How to Deposit Funds to WhiteBIT?
Depositing funds into your WhiteBIT account is just as straightforward as withdrawing. Simply go to the "Balances" section, click "Deposit" next to the currency you want to add, and choose your preferred payment method (e.g., bank card). Enter the deposit amount and your card details, then confirm the transaction through your banking app. Once the transaction is processed, the funds will be credited to your balance.
