WhiteBit is a cryptocurrency-to-fiat exchange offering over 150 trading pairs. They have a European exchange and storage license and claim to meet all KYC and AML requirements.
WhiteBit was launched in December 2018 and received licenses for European exchange and storage. The CEO of the company is Vladimir Nosov. Gleb Ushakov was the company's CFO, and Jay Bernadotte was the chief operating officer. Their team consists of more than 80 members who have experience in the financial technology industry and are fully equipped to introduce new and innovative practices to the world of cryptocurrencies.
Since its launch, the company has built a user base of more than 300,000 users from around the world. The platform serves traders from more than 190 countries, including the EU, Asia and South America. The company is headquartered in Tallinn, Estonia. The platform is self-funded.
WhiteBit provides a number of powerful features that allow it to stay ahead of its competitors. The platform has a customizable user interface that allows users to take control. Users can easily customize the tile-based interface to suit their preferences. Their website is easy to navigate and very convenient to use for both experienced cryptocurrency traders and beginners.
Another feature of the platform is its speed and fast trading. WhiteBit can process up to 10,000 trades in one second. This is one of the highest processing speeds on any cryptocurrency exchange. It also allows you to use more than 1,000,000 TCP connections.
Users are given access to all their trading functions and data streams. WhiteBit provides its users with both private and public REST APIs.
The public REST APIs consist of market data, such as the current order book, transaction history, and recent trading activity. While private REST APIs give users the ability to manage their orders and funds. It allows users to place orders, cancel them, see their active orders, see the trading volume and main balances, deposit and withdraw funds, transfer funds to other users, and view the history of their deposits and withdrawals. This allows them to become more confident when making transactions.
What's more, the platform allows instant peer-to-peer transactions without the need for confirmation. All operations performed on the platform are fully regulated. The EU licenses cover any cryptocurrency-to-cryptocurrency or cryptocurrency-to-fiat exchange operations.
The exchange's fee structure is also very competitive and is at the lower end of the crypto industry's price range. Several order types are also supported. These include market orders, limit orders, stop orders, and conditional orders.
Deposits are accepted in various formats, including via Visa and Mastercard. WhiteBit offers low trading fees even for those who work with a small capital. They promise fast deposits, withdrawals, and order fulfillment.
WhiteBit also has a profitable affiliate program. Users are required to receive up to 40% of the commission paid by their referrals whenever they make a trade. The site provides a referral link so that users can share it with their friends and get the opportunity to earn extra money while trading.
The smart stacking feature is also available on the platform. Users can deposit their cryptocurrency on the platform and choose one of the recommended plans on the exchange. There are 15 plans available, each offering different interest rates and different deposit limits.
The platform has also developed an app compatible with both Android and iOS to make on-the-go trading possible. Their website is translated into several languages to serve international users.
WhiteBit does not have a fee structure based on the producer and recipient model. Instead, the exchange charges a flat trading fee of 0.10%, which is lower than the industry average of 0.25%. In some trading pairs, this fee is even lower. The exact amount of the fee charged is displayed when placing an order.
Moreover, the deposit fee is not charged for Bitcoin, Ethereum, USDC and USDT. The minimum withdrawal limit is 0.001 BTC, 0.02 ETH, 10 USDC and 0 USDT, respectively. The platform also allows you to make deposits via VISA or MasterCard. When making a deposit, these credit cards are charged a 6.5% commission, and the minimum deposit limit is $ 10.
In addition, deposits made with USD Perfect Money and USD Advcash are charged a deposit fee of 5% and 4.5%, respectively. The minimum deposit limit is $ 10.
WhiteBit also charges a fee for withdrawals. The minimum withdrawal limit of PTS is 0.001 BTC, and the fee charged is 0.0004 BTC. For Ethereum, the minimum threshold is 0.02 ETH, and a fee of 0.003 ETH is charged.
When withdrawing funds to credit cards, there is a 4% fee plus a fixed fee of $ 5. The minimum withdrawal limit is $ 20.
WhiteBit's commission structure is lower than that of most cryptocurrency exchanges, which gives the platform a competitive advantage over others in the industry.
WhiteBit applies advanced security measures to protect its platform from any unwanted activity. The exchange claims that 96% of their crypto assets are stored in cold storage, and they use WAF, 2FA, and anti-phishing software to protect users and their cryptocurrencies.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.