WhiteBIT Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 0.0005 BTC
- TradingView
- Many cryptocurrencies and tokens, 10 fiat, a demo token, a profitable referral program, investment (Crypto Lending), low fixed fees
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 0.0005 BTC
- TradingView
- Many cryptocurrencies and tokens, 10 fiat, a demo token, a profitable referral program, investment (Crypto Lending), low fixed fees
Our Evaluation of WhiteBIT
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
WhiteBIT is a moderate-risk cryptocurrency exchange with the TU Overall Score of 6.92 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by WhiteBIT clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
The WhiteBIT cryptocurrency exchange offers a simple and convenient trading terminal, a functional mobile application, and additional opportunities for active and passive earnings. There are many crypto-crypto and crypto-fiat pairs on the platform that can be traded on spot and margin, plus basic (simplified) trading. Trading commissions are only 0.1%, the minimum deposit, and are very small (0.0005 BTC). The referral program is standard one-level, and the Crypto Lending system is also typical.
Brief Look at WhiteBIT
The WhiteBIT exchange is a universal platform for trading and exchanging cryptocurrencies. In addition to basic (simplified) trading, there are spot and margin trading. Bitcoin, Litecoin, Ethereum, Ripple, DASH, and dozens of other altcoins are traded on the exchange. Fiats are represented by the USD and the EUR. For margin trading, 1:10 leverage is provided. In addition to active trading, there is the possibility of investing in a blockchain project with interest payments (from Crypto Lending). The exchange has a standard referral program, and trading commissions are fixed. There is a TradingView web terminal and a mobile trading application. The company offers its own GitHub solution for the cryptocurrency business.
- Bitcoin, dozens of altcoins and tokens, 10 fiat currencies, including the USD and the EUR;
- large trading volumes, high liquidity, multilevel security system;
- basic trading for beginners, spot and margin, P2P exchanger, and free multicurrency account;
- most options for depositing/withdrawing funds such as e-wallets, bank cards, and transfers;
- a simple and profitable system for investing in blockchain projects of crypto exchange affiliates;
- the commission does not change - 0.1% of the trade amount, and no additional fees or charges;
- FAQs on the basics of crypto trading, a demo token for education and training.
- communication with the exchange only through the website and email, there is no call center or alternative methods of prompt communication;
- there is no advanced training, except for Crypto Lending.
TU Expert Advice
Financial expert and analyst at Traders Union
The WhiteBIT cryptocurrency exchange was founded by an international group of specialists and provides an extensive list of opportunities for trading, exchanging cryptocurrencies, as well as investing in them. The company is officially registered, has a valid European license for the provision of the services related to the circulation of virtual currencies, and its number is indicated on the website. There are also certificates of compliance with the KYC and AML standards agencies.
The platform is characterized by a large volume of trading, and residents from all over the world are present on it since there are no regional restrictions. Plus, there is a high level of security because of its proprietary data encryption system. Almost 97% of funds are kept in cold storage wallets while only about 4% are kept in hot wallets. The advanced WAF system is used to detect and block hacker attacks. As a method of insurance, the company uses a reserve fund. Funds are stored separately in US banks.
WhiteBIT offers a standard trading terminal and a mobile application for trading. Trading commissions are fixed and objectively low - 0.1% for everyone. However, there are commissions for the deposit/withdrawal of some assets. Users can passively earn on the standard referral program and investment Crypto Lending system (credit deposits in cryptocurrency). Benefits for beginners include basic training, demo tokens, and a minimum deposit of 0.0005 BTC.
No instances of a scam were registered. Tests have shown high stability of the system at peak load. The experts did not identify any bugs or vulnerabilities.
- You're new to cryptocurrency trading, as WhiteBIT offers a simple and easy-to-use platform, making it suitable for beginners. They also provide educational resources to help you learn the ropes and offer basic spot trading.
- Security is important to you, as WhiteBIT takes security seriously, using measures like cold storage, DDoS protection, and two-factor authentication to protect your assets. They haven't experienced any major security breaches.
- You're looking for low fees. While WhiteBIT offers a user-friendly platform and a wide range of trading options, their fees are slightly higher than some other exchanges. They also charge extra for deposits and withdrawals.
- You need advanced features, as WhiteBIT doesn't offer some advanced features like margin lending and staking that you might find on other exchanges. If these features are essential to your trading strategy, you might want to consider a different platform.
WhiteBIT Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Own TradingView |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, currencies |
| 💵 Replenishment / Withdrawal: | Bank cards, cryptocurrency wallets |
| 🚀 Minimum deposit: | 0.0005 BTC |
| ⚖️ Leverage: | 1:10 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, USD, EUR |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Many cryptocurrencies and tokens, 10 fiat, a demo token, a profitable referral program, investment (Crypto Lending), low fixed fees |
| 🎁 Contests and bonuses: | No data |
The WhiteBIT crypto exchange has an objectively low minimum deposit - 0.0005 BTC or an equivalent amount in any other cryptocurrency/currency. You can enter the required amount from your MC / Visa card, from other cryptocurrency wallets. Please note that for some assets (for example, USD) there are commissions on deposit. For margin trading, the crypto exchange provides the opportunity to trade with a leverage of up to 1:10 (thanks to the credit funds of other users attracted through the investment program). Communication with technical support may be through tickets on the website or via the trading terminal. There are also several email addresses for various questions.
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Commissions and fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0,01% per order | Yes |
The platform takes a commission when withdrawing funds. Commissions are fixed and depend only on the type of asset. For example, for Bitcoin, it is 0.0004 BTC; for USDT (TRC20), it is 2 USDT; and for USDC, its 10 USDC.
Please note that WhiteBIT also charges a deposit fee. The deposit method matters. For example, if you deposit USD through a bank card, the commission is USD 5 + 3.5% of the amount; if through Perfect Money, it's 3%; through AdvCash, it's 1.5%. The fee is not relevant for some assets (BTC, ETH, and several others). All this information can be specified in the "Commissions" section, which can be accessed from the main page of the crypto exchange website.
| Broker | Average commission | Level |
|---|---|---|
|
$0.01 | |
|
$20 | |
|
$0.1 |
Investment Options
The WhiteBIT crypto exchange offers only one investment option - Crypto Lending. This is a system that allows any user of the platform to become an investor and passively earn interest on the deposit made to the program. To use it, you must register, verify your identity and go to the appropriate section of the site.
All current programs are presented in the Crypto Lending section. For each of them, the currency, the minimum and maximum deposit, and the deposit period are indicated. The uniqueness of the system is that the calculation of profitability is integrated into it. You simply enter the amount and, even without making a deposit, you know exactly how much you will earn under the Crypto Lending program. The pool has programs for almost all altcoins and tokens, the programs are constantly updated. Placement is for a period from 10 to 360 days.
The platform does not charge the investor additional fees for using the service. Interest is transferred after the end of the active program, together with the return of the deposit in the previously invested currency. The transfer is made to a special investment account of the user that is linked to the main account. Earned interest can be withdrawn by any method without restrictions.
The Launchpad by WhiteBIT offers the exclusive chance to purchase tokens of promising crypto projects at a fixed price before they hit the market.
Crypto Borrow. The tool allows you to borrow digital assets from us for any period and use them for trading, transfers, and withdrawals. Available assets on your Collateral Balance will be used as a pledge.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
WhiteBIT’s affiliate program
WhiteBIT provides a standard one-level referral program. To participate in it, you need to register and verify, then go to the "Referral program" section. In this section, there is a button "Get a link". Upon activation, you will receive a personal referral link that can be placed anywhere without restrictions.
Each user who follows your referral link will become your affiliate (referral). As soon as he registers, confirms the data, makes a deposit, and starts trading, you will receive income from his trades. The income is 50% of the referral's trading commissions.
The program is unlimited - you receive income from an affiliate for as long as he trades on the platform. The number of affiliates is not limited. You do not receive income from users invited by your affiliates. All data on your referrals and payments are available in the "Referral program" section. Payments are made once a calendar month - on the first day at 00:00 UTC.
User Satisfaction