WhiteBIT vs Hotbit: Fees, Coins, Safety Comparison
| Feature | WhiteBIT | Hotbit |
|---|---|---|
Overall |
3.8 |
3.8 |
3.7 |
1.8 |
|
3.5 |
4.1 |
|
4.3 |
5 |
|
Investment Instruments |
3.9 |
5 |
Platforms and Charting Tools |
3.6 |
4.1 |
Deposit and Withdrawal |
4 |
3.5 |
Research |
3.9 |
1.2 |
Education |
3.7 |
1.5 |
Support |
3.5 |
2.4 |
Bonuses |
3.8 |
1 |
|
Your capital is at risk.
|
WhiteBIT vs Hotbit: Pros and Cons
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, 1:20 leverage is provided. In addition to active trading, there is the possibility of investing in a blockchain project with interest payments (from staking). The exchange has a standard referral program, and trading commissions are fixed. There is a TradingView web terminal and a mobile trading application.
The Hotbit cryptocurrency exchange offers spot and ETF trading without leverage. Bitcoin and the most popular altcoins are traded on the platform, including Ethereum, Litcoin, Ripple, etc. Several fiat currencies are represented, including the US dollar, euro, and Chinese yuan. The exchange implements five investment solutions, including De-Fi coin deposits, lending, and POS. Trading commissions on the exchange are fixed and do not depend on the trading volume, for example, 0.05% for the maker, and 0.2% for the taker. The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency. In addition to the web terminal, there is a mobile application for iOS and Android. There is a listing that promotes the addition of new cryptocurrencies, and coins are constantly being added to the platform.
| WhiteBIT | Hotbit | |
|---|---|---|
| Overall Pros | Bitcoin, dozens of altcoins and tokens, four fiat currencies, including the USD and the EUR; | Over 1500 supported coins |
| large trading volumes, high liquidity, multilevel security system; | the simple and convenient trading platform | |
| basic trading for beginners, spot and margin, P2P exchanger, and free multicurrency account; | five investment solutions | |
| most options for depositing/withdrawing funds such as e-wallets, bank cards, and transfers; | Negative maker's fee | |
| a simple and profitable system for investing in blockchain projects of crypto exchange affiliates; | Leveraged ETF contracts | |
| 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. | ||
| Overall Cons | communication with the exchange only through the website and email, there is no call center or alternative methods of prompt communication; | Non regulated |
| there is no advanced training, except for staking; and there are no alternative investment options. | Successful hack attacks | |
| US customers are not supported | ||
| high taker's fee |
WhiteBIT vs Hotbit: Safety and Regulation
| Regulated By: | WhiteBIT | Hotbit |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Clear White Technologies (Hongkong) |
No |
WhiteBIT vs Hotbit: Trading Conditions
| Trading Conditions | WhiteBIT | Hotbit |
|---|---|---|
Minimum Deposit |
0.0005 BTC |
$1 |
Trading Platforms |
WhiteBIT TradingView |
Hotbit |
Max Leverage (Futures) |
1-20 |
44562 |
Number of Markets |
138 |
1500+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
EUR, USD, UAH, RUB + 51 crypto |
Cryptocurrencies, Fiat currencies |
WhiteBIT vs Hotbit: Fees
Trading Fees
| Fee | WhiteBIT | Hotbit |
|---|---|---|
Max Maker |
0.10% |
-0.05% |
Max Taker |
0.10% |
0.65% |
Min Maker |
0.10% |
-0.5% |
Min Taker |
0.10% |
0.20% |
Debit/Credit Card Purchase Fee |
3% for RUB; 0,7% for UAH; 2.7% and 4.5% others, depending on the fiat currency. |
Not supported |
Futures Trading fees
| Fee | WhiteBIT | Hotbit |
|---|---|---|
Max Maker |
not supported |
not supported |
Max Taker |
not supported |
not supported |
Min Maker |
not supported |
not supported |
Min Taker |
not supported |
not supported |
Non-Trading Fees
| Fee | WhiteBIT | Hotbit |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Crypto deposits - free; ADVCash 1,5%; Perfect money 3%; Visa/Mastercard 0,7%-4,5% depending on the currency, Qiwi 2,5%, Yandex 2,5% |
No |
Bank Transfer Withdrawal Fee |
Not supported |
Not supported |
Debit/Credit Card Withdrawal Fee |
0,7%-4% depending on the currency |
|
BTC Withdrawal Fee |
No |
0.001 BTC |
Inactivity Fee |
No |
WhiteBIT vs Hotbit: Trading Assets
| Asset Name | WhiteBIT | Hotbit |
|---|---|---|
Overall |
86+ |
1500+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
No |
NFT |
No |
Yes |
Crypto ETF |
No |
Yes |
WhiteBIT or Hotbit: Investment Programs
| Asset Name | WhiteBIT | Hotbit |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
Lending. Credits are provided to projects by affiliates of the exchange; Deposits in De-Fi coins; Quantitative and Incentive Plans. In both cases, the investor provides cryptocurrency from his account for the development of blockchain projects and the personal needs of the platform. |
Trading Platforms: Hotbit or WhiteBIT
| WhiteBIT | Hotbit | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Hotbit or WhiteBIT
| WhiteBIT | Hotbit | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
No |
Voice Call 2 FA |
no |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Hotbit or WhiteBIT
| WhiteBIT | Hotbit | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
No |
No |
Mobile trading: Hotbit or WhiteBIT
| WhiteBIT | Hotbit | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Hotbit or WhiteBIT
| WhiteBIT | Hotbit | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
WhiteBIT vs Hotbit: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | WhiteBIT | Hotbit |
|---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
WhiteBIT vs Hotbit: Research
| Research Type | WhiteBIT | Hotbit |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
NO |
E-Mail Reports |
No |
No |
WhiteBIT vs Hotbit: Education
| Education Type | WhiteBIT | Hotbit |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
No |
Hotbit vs WhiteBIT: Support
| Support Features | WhiteBIT | Hotbit |
|---|---|---|
Working Days |
44766 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
No |
Yes |
Other |
No |
No |
WhiteBIT vs Hotbit: Crypto Bonuses and Promo
| Promo | WhiteBIT | Hotbit |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
Get 40% of every trading fee paid by the users who sign up via your referral link |
No |
|
Your capital is at risk.
|
Top 5 Reviews on Hotbit
-
Comment
The Hotbit exchange behaved unworthily after closing. They promised to withdraw the money within a few months in 2023. But now it's already February 2024, and my 5000 USDT are still on this exchange. And I suppose I won't be able to get my money back. Even the fact that the Hotbit exchange was registered didn't help me get my money back.
-
Comment
The Hotbit exchange is the most disgusting platform for cryptocurrency trading. Not only did their platform work very poorly, but they also didn't withdraw my funds after announcing the closure of the exchange. This is already called fraud. A group of traders and I tried to file a collective lawsuit, but we were told that we wouldn't achieve anything.
-
Comment
At first, the Hotbit exchange announced the temporary suspension of Bitcoin withdrawals, then they halted USDT withdrawals. I should have reacted immediately, converting everything to XRP and withdrawing. My friend did just that. However, I waited for the situation to be resolved. When the announcement came about the cessation of Hotbit's operations, it was already too late. Although they mentioned that withdrawals could be made until July, none of my withdrawal requests were executed.
-
Comment
My access to the Hotbit exchange account was blocked even before the exchange announced the cessation of its operations. I don't know about the withdrawal situation for other users; however, nobody returned my money from Hotbit. I lost $1280 here, and I believe they were simply stolen!
-
Comment
HOTBIT is also nonsense. It allowed me to deposit money without verification. And when I decided to make a withdrawal, they demanded verification. And I didn’t pass it, I don’t know why. I am submitting documents for the second time, since I have to withdraw the money.
Top 5 Reviews on WhiteBIT
-
Comment
My review of WhiteBIT is quite normal. The fee here is ok, I make a profit on long-term trades. Liquidity is not bad, despite the fact that the exchange is not very cool. There are coins, so you can trade. On the technical side, there are no obvious problems: nothing freezes too much, the platform is working. I did not notice any fraudulent actions on the part of WhiteBIT.
-
Comment
I withdrew money to my bank card. They promised that the withdrawal would be within two hours. But in fact, it took two days for the money to arrive. Why do I need such an exchange where they clearly engage in deception? Now a representative of WhiteBIT will come out and start telling tales about how well the exchange works, and all the problems arise only because of the banks. Not true! I work with another exchange, withdraw to the same bank, and the withdrawal happens several times faster.
-
Comment
My history of working with WhiteBIT is sad. Frequent delays in order execution resulted in heavy losses. It feels like all the technical problems are created on purpose. The support service is poor and it is impossible to get quick help from them. I see that representatives of the exchange quickly respond only on resources where negative reviews are written about WhiteBIT. It would be very good if they reacted to my requests like this. I recommend avoiding this exchange due to poor service and problems with the platform.
-
Comment
The Whitebit exchange is very weak. The conditions they offer seem normal in theory, but it's only on paper. In reality, the trading platform performs poorly, with significant issues. I don't know about the trading volumes here, but there are constant problems with executing market orders as well as limit orders. Whitebit allows withdrawals, but delays are frequent.
-
Comment
Recently, WhiteBIT has begun to improve its rating. If earlier there were a lot of negative reviews about this exchange, now major resources are simply bombarded with positive reviews created as a blueprint. And even here, on Traders Union, WhiteBIT’s bot writes to spam all the negative reviews. So I will still say - WhiteBIT is a deception and a scam!
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.