WhiteBIT is an Estonian cryptocurrency exchange that holds a Europan Exchange and Custody license. In Europe, Asia, and the Commonwealth of Independent States, the exchange has over 500,000 customers. It has collaborated with a variety of blockchain initiatives (Dash, Tron, and Matic, to name a few).
WhiteBIT advantages
WhiteBIT bills itself as a legal cryptocurrency exchange with tools for both novice and experienced traders. They also emphasize the expertise of their Support team.
But that’s not all this platform has to offer. The site also highlights a few more characteristics that they believe are beneficial to their consumers. The user interface is customizable, and orders are performed fast thanks to a trading engine that can conduct 10,000 trades per second. Furthermore, costs are reasonable (more on that below), and the platform has a robust API.
US-investors
WhiteBIT does not yet accept US investors to trade on the exchange.
Tools
On Spot trading, WhiteBIT offers Stop-Limit, Stop-Market, Conditional-Limit, and Conditional-Market orders in addition to Limit and Market orders. Limit, Market, and Trigger-stop-market orders are all part of margin trading.
When the market is too volatile, consumers can utilize Stop-Limit and Stop-Market Orders to limit their losses.
Users can utilize Conditional Orders to reduce their risks by keeping an eye on the market that influences the currency they’re interested in.
WhiteBIT also offers Demo Token, a free tool that allows users to learn the fundamentals of cryptocurrency trading while also allowing them to test their strategies on the DBTC/DUSDT pair.
API
Both public and private REST APIs are available from WhiteBIT. The current order book, recent trading activity, and transaction history are all available through public REST APIs. You can manage both orders and funds using private REST APIs.
SMART Staking
Users can earn up to 30% APR by using SMART Staking. USDT, BTC, ETH, DASH, BNOX, XDN, and other cryptocurrencies are now included in the plans. At the end of the holding period, the holder receives the interest rate.
WhiteBIT trading view
Different exchanges have different perspectives on trade. You should decide which one is ideal for you. What they all have in common is that they all display the order book, or at least a portion of it, as well as a price chart for the selected coin and order history.
WhiteBIT trading fees
There are no separate costs for takers and manufacturers in this market. Their cost structure is referred to as a “flat fee model.” They have a fixed trading cost that starts at 0.10 percent and goes up from there. Because the industry average is generally about 0.25 percent, WhiteBIT’s trading fees are competitive. Although industry averages are progressively declining, 0.10 percent – 0.15 percent is gradually becoming new industry averages.
Some trading pairs offer significantly lower commissions. When an order is placed, the precise amount is displayed on the Live Trading page.
WhiteBIT withdrawal fees
Then it’s on to the withdrawal fees. These are also crucial factors to consider. The exchange charges you 0.0004 BTC when you withdraw BTC. This cost is also lower than the industry norm.
The maximum withdrawal cost varies by user. At the moment, new and basic accounts can withdraw up to $500 (or equivalent) per day. Enhanced Accounts: Daily limits of USD 100,000 (or similar) with two-factor authentication enabled. Withdrawals of more than 2 BTC per day require verification.
Overall, the costs levied by this exchange are lower than those charged by most other cryptocurrency exchanges nowadays.
Deposit methods
BTC/USD, BTC/USDT, BTC/RUB, and BTC/UAH are among the 160 crypto and fiat trading pairs supported by the exchange. Visa and MasterCard, as well as Advcash, Qiwi, Mercuryo, Geo-Pay, Interkassa, monobank, and Perfect Money, can be used to make deposits and withdrawals.
Because fiat currency deposits are allowed at all, this exchange qualifies as an “entry-level exchange,” or one where prospective crypto investors can take their initial steps into the thrilling crypto realm.
WhiteBIT security
96 percent of the assets on this trading platform are kept in cold storage. You can use two-factor authentication to log in, just like most other exchanges. There are also IP detection, biometrics confirmation, and other features. Overall, WhiteBIT appears to be focused on security.
Finally, WhiteBIT is 5AMLD compliant. You can, however, make limitless deposits and withdrawals of up to 2 BTC (in any available coin) every day without having to go through KYC.
