WhiteBit Exchange is a centralized European cryptocurrency exchange platform. It is a universal platform for trading and exchanging cryptocurrencies, and it has more than 3 million clients. This Exchange offers dozens of cryptocurrencies and altcoins. WhiteBIT offers an extensive suite of trading products that have made buying, selling, and exchanging cryptocurrencies very efficient.
Spot Trading
The spot trading feature on WhitBIT allows users to buy and sell cryptocurrencies at the current market price at very low risk. Users can sell a wide variety of currencies ranging from bitcoins and ethereum to altcoins. The platform also offers trading pairs wherein users can pair major cryptocurrencies with other coins or tokens.
Futures Trading
This feature is for experienced traders who want to expand their revenue through speculation. It enables such users to trade contracts at a predetermined future price without actually owning the asset, but a contract that represents the value of a specific cryptocurrency. This way, users can hold large positions with even smaller amounts of capital. The leverage provided by the Exchange does increase the profit but also increases the risk when the market is unstable.
Margin Trading
It is a powerful tool for advanced users. Users can expand their trading potential with up to 10x leverage offered by this feature. This feature allows users to borrow funds and expand their market. This results in higher returns. However, the risk is also high.
WhiteBIT Earn
It is an extensive program offered by the platform that allows users to earn passive income by lending their crypto. They also offer fixed staking options that can help you lock up your assets and get higher returns.This feature helps user in increasing their revenue as they get interest on the assets lent by them and they don’t have to trade on a regular basis actively if they don’t want to. This feature also rewards users for freezing their cryptocurrencies. It is quite flexible as it lets users withdraw their assets whenever they wish to.
WhiteBIT Coin
WhiteBIT coin or WBT is a native coin of the blockchain that offers users a wide range of special bonuses and privileges. These benefits include trading fee discounts, staking rewards, exclusive promotions, etc.; it also offers government rights in the future, which let users take part in decision-making regarding whitebait. WBT can be exchanged and traded against other cryptocurrencies. It is highly recommended to use WBT.
Crypto Borrow
Using this features users can borrow cryptocurrencies for any time period. These specific cryptos can be used by users for trading, transfers or withdrawals. It is very useful for users who don’t wish to sell their assets but still want to gain through them. However, the borrowers are required to provide collateral in any other form of digital assets. They accept bitcoin, ethereum, or other stablecoins as collateral.
Quick Exchange
Quick Exchange is a fast crypto convertor that trades crypto for crypto, national currencies for crypto, and vice versa. It eliminates the complex procedure of using complex trading tools like charts and encourages swift crypto transactions. It has a very easy-to-understand interface, which is very beneficial for beginners. This feature is ideal for users who want to trade instantly at the current market rate and make fast trades without waiting for any fluctuations. By using this feature, users can also save the cost of investing in standard trading, as this feature requires low or no fees at all.
The specialty of this platform is that, in addition to basic trading, it offers spot and margin trading. When trading with a white bit, you can switch between a basic exchange interface and a more advanced interface. Users also have the option of using Whitebit’s beginner-friendly mobile trading application.
If you are a developer or have knowledge of programming, WhitBIT offers a bug bounty program for finding any faults in their systems. It also offers a decentralized exchange known as a white swap that uses a governance token, and there are plenty of liquidity pools that you can join on the Exchange. Whitebit provides more than 80 cryptocurrency trading pairs that can leverage your trades by up to 20 times. This Exchange is also a popular option for trading a wide range of futures, as there are dozens of stablecoin pairs. They offer both crypto-to-crypto pairs and crypto-to-fiat pairs, and you can add instruments to your favorites list to keep track of price moments. You can easily buy cryptocurrencies directly from the Whitebit web exchange or white swap. WhiteBIT smart staking program offers up to 30 percent annual return for holding and staking bitcoin, ethereum, or Tether. There are several staking plans through which you can lock your tokens for up to 10,20,90,180 or even 360 days. WhiteBIT also offers trading competitions where you can earn free cryptocurrencies. You can receive 40 percent of every trading fee paid by the users who sign up to WhiteBIT via the referral link provided by WhiteBIT to you.
Pros of trading with WhiteBIT
It supports large trading volumes, high liquidity, and a multilevel security system.It offers basic trading for beginners, spot and margin trading, P2P exchanger, and a free multi-currency account with a variety of options for depositing/withdrawing funds, such as e-wallets, bank cards, and transfers.WhiteBIT is highly focused when it comes to security and offers many features, such as two-factor authentication, anti-phishing measures, and an insurance fund of up to $30 million.
Cons of trading with WhiteBIT
Communication with the Exchange is only through the website and email; there is no call center or alternative methods of prompt communication.WhiteBIT is not available to users in the US and several other regions due to regularity issues.
Commissions and fees
It generally charges low trading fees of around 0.10%. The platform charges a commission when withdrawing funds. The commission is fixed and depends only on the type of assets.
Conclusion
WhiteBIT Exchange is one of the strongest apps, particularly for those to whom security and low fees come first. The features provided by the platform serve both beginners and experienced traders. It is a very strong choice for those who are looking to get involved in cryptocurrency, as it is a user-friendly platform that is worth your time.
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