WhiteBIT Review 2024

WhiteBIT is a centralized cryptocurrency exchange founded in 2018. Its country of registration – Lithuania. On 14 July 2024 the number of trading pairs available for trading: 498. WhiteBIT last 24-hour trading volume is $1,727,278,430. It changes to -30.02% compared to the previous 24-hour period. BTC/USDT is the most popular trading pair, its trading volume is $406,968,567 in the last 24 hours. The exchange has 8 of 10 possible reliability scores and provides clients with access to fiat currencies.
Volume (24h)
$1,727,278,430-30.02% ↓
Pairs
498
Rating
8 / 10
Country of registration
Lithuania
Fiat
TOP 10 pairs by volume
Pair
Price
24h Volume
Spread
Price change in 24h
Pair
BTC/USDT
Price
$59,739.00
24h Volume
$406,968,567
Spread
+0.01%
Price change in 24h
+$1,626.00 ↑ / +2.73%
Pair
ETH/USDT
Price
$3,189.06
24h Volume
$180,810,117
Spread
+0.01%
Price change in 24h
+$43.30 ↑ / +1.36%
Pair
XRP/USDT
Price
$0.5238
24h Volume
$110,210,917
Spread
+0.01%
Price change in 24h
+$0.044590 ↑ / +8.53%
Pair
ETH/BTC
Price
$3,189.06
24h Volume
$68,893,781
Spread
+0.02%
Price change in 24h
+$43.30 ↑ / +1.36%
Pair
SOL/USDT
Price
$145.02
24h Volume
$38,077,330
Spread
+0.01%
Price change in 24h
+$5.08 ↑ / +3.51%
Pair
TRX/USDT
Price
$0.14011
24h Volume
$32,013,982
Spread
+0.01%
Price change in 24h
+$0.0021270 ↑ / +1.52%
Pair
ADA/USDT
Price
$0.44021
24h Volume
$27,402,548
Spread
+0.01%
Price change in 24h
+$0.023780 ↑ / +5.41%
Pair
XMR/USDT
Price
$157.56
24h Volume
$24,753,202
Spread
+0.15%
Price change in 24h
-2.720 $ ↓ / -1.73%
Pair
DOGE/USDT
Price
$0.11437
24h Volume
$22,704,108
Spread
+0.01%
Price change in 24h
+$0.005385 ↑ / +4.74%
Pair
XLM/USDT
Price
$0.10162
24h Volume
$18,946,180
Spread
+0.02%
Price change in 24h
+$0.009246 ↑ / +9.12%

    WhiteBIT is a crypto exchange with a lot of trading pairs, investment options and leveraged trading service. The platform stores 96% of digital assets of its users on cold wallets, thus ensuring their safety.

    Read also: Best crypto exchange.

    The site is suitable for both experienced traders and beginners, offering three types of markets: spot, margin and futures.
    WhiteBIT сrypto exchange was launched in 2018. The trading platform is currently used by 3.5 million+ customers and the project team consists of more than 1000 people. The company is headquartered in Vilnius, Lithunia. WhiteBIT focuses on the European market and offers its services to the citizens of 190 countries.

    Sign up and Verification

    In order to start using the exchange you have to register on it. This process is quick and easy for anyone, regardless of experience. Just follow the instructions:

    1. On the home page click Sign In;
      Registration on WhiteBIT exchange
      Registration on WhiteBIT exchange
    2. Enter your email and password;
      Registration on WhiteBIT exchange
      Registration on WhiteBIT exchange
    3. Enter the four-digit code you receive in your email;
    4. Registration complete.

    To pass the verification process, you need:

    1. Hover mouse pointer over the profile icon and click Verification;
      Verifying on WhiteBIT exchange
      Verifying on WhiteBIT exchange
    2. Enter country of residence → Start;
      Account verification on WhiteBIT Step 1
      Account verification on WhiteBIT. Step 1
    3. Prepare your documents to checking, agree with a privacy policy → Next;
      Account verification on WhiteBIT Step 2
      Account verification on WhiteBIT. Step 2
    4. Enter the required personal info: name and surname, gender, birthday date, address → Next;
      Account verification on WhiteBIT. Step 3
      Account verification on WhiteBIT Step 3
    5. Select the country issued the document and its type → Next;
      Account verification on WhiteBIT Step 4
      Account verification on WhiteBIT. Step 4
    6. Set a type of document and upload its photo → Next;
      Account verification on WhiteBIT. Step 5
      Account verification on WhiteBIT Step 5
    7. Take selfie with help of a web camera or mobile app on the exchange;
    8. Verification is completed.

    KYC verification takes 24 hours. You will be informed by email that you passed it.

    Account Security

    In order to increase the security of your account you need to enable the 2FA security option. Two factor authentication will prevent an attacker from logging into your account, even if they have your username and password. The system will ask for an additional one time code each time you log into your account, withdraw funds and do other activities.

    The following steps are required to enable 2FA:

    1. Click on the profile icon and select Security;
      Security option
      Security option
    2. Scroll the page down to Two-factor authentication option;
    3. Scan the QR code with the Google Authenticator app;
      Two-factor authentication at WhiteBIT exchange
      Two-factor authentication at WhiteBIT exchange
    4. Paste the six-digit code from the application in the appropriate field;
    5. Click Enable → 2FA-authentication is enabled.

    The exchange has single-level two-factor authentication, but WhiteBIT also uses anti-phishing software for enhanced customer security.

    The account is registered. What next?

    To fully use the exchange, investing and trading, you need to top up your account and familiarize yourself with the platform’s functions. An instruction below will take you through the process of depositing and withdrawing funds from WhiteBIT.

    Deposit and withdrawal methods

    To make a deposit on WhiteBIT you need to:

    1. Hover mouse pointer over Balance → Total;
      Total menu
      Total menu
    2. Select the cryptocurrency you want to deposit, for example USDT → Deposit;
      Topping up an account on WhiteBIT exchange
      Topping up an account on WhiteBIT exchange
    3. Select the replenishing method at Address by blockchain field and set the blockchain type (ERC20 for example). This type of blockchain must be used in your wallet too;
      Topping up an account at WhiteBIT exchange
      Topping up an account at WhiteBIT exchange
    4. Replenish your WhiteBIT account.

    You can deposit fiat currencies (for example, USD) to your account and then buy the desired cryptocurrency.

    The withdrawal process doesn’t take long either, and it’s pretty simple. To withdraw the cryptocurrency, you need:

    1. Hover the cursor over Balance → Total;
      Total menu
      Total menu
    2. Select the currency you want to withdraw, for example USDT → Withdraw;
      USDT withdraw from WhiteBIT
      USDT withdraw from WhiteBIT
    3. Specify network, number of coins to withdraw → insert wallet address → Withdraw Request;
      Setting up withdrawal request on WhiteBIT
      Setting up withdrawal request on WhiteBIT
    4. Money has been withdrawn from WhiteBIT.

    WhiteBIT trading conditions and tools

    The exchange offers a variety of trading tools: fast exchange, spot, margin trading and others. The user-friendly interface makes the platform easy to understand.

    Quick exchange

    Fast exchange is a convenient feature for those who need to quickly exchange cryptoassets. The interface of this section is as simple as possible: simply select the cryptocurrencies between which you want to exchange, enter their quantity and confirm the exchange.

    Fast exchange on WhiteBIT exchange
    Fast exchange on WhiteBIT exchange

    Spot market

    The Spot Market is a type of terminal where you can buy and sell cryptocurrencies and other assets. The main feature of the platform is the instant delivery of cryptocurrency from seller to buyer.

    The Spot Market contains a lot of cryptocurrency trading pairs. It has a user-friendly interface and provides an option of using TradingView charts. WhiteBIT is one of the top 50 exchanges by trading volume on the spot market.

    WhiteBIT exchange spot market terminal
    WhiteBIT exchange spot market terminal

    Margin trading

    Margin trading service on the exchange provides leverage up to 20x and a lot of popular trading pairs. The daily fee for borrowing funds is 0.078%.

    Margin trading on WhiteBIT
    Margin trading on WhiteBIT

    Futures trading

    Futures trading is a WhiteBIT futures trading service. The exchange offersperpetual futures trading for 13 coins, in particular on BTC, ETH, MATIC, LTC, TRX and others. Contracts are settled in USDT. The service supports leverage up to x20 for each of the presented coins.

    Futures trading terminal on WhiteBIT
    Futures trading terminal on WhiteBIT

    Fees and Limits

    Standard trading commission at the site is 0.1%, and it can even be lower for some trading pairs. The daily commission for margin trading is 0.078%. Deposit and withdrawal limits differ depending on the coin chosen. Withdrawal commissions are also different for each cryptocurrency.

    Fees and limits on WhiteBIT
    Fees and limits on WhiteBIT

    To read more about commissions and limits, please visit the official platform’s website.

    How to trade on the WhiteBIT cryptocurrency exchange

    Our small guide will help you to check the best tools to trade and the easiest way to buy/sell cryptocurrencies on WhiteBIT. To buy crypto on exchange, you need to:

    1. Click Spot in the Trade menu;
    2. Choose cryptocurrency pair you want to use in the search field (for example, BTC/USDT);
    3. Select an order type, for example, Market;
    4. Enter the amount of coins you are going to buy → Buy;
      Buying cryptocurrency on WhiteBIT
      Buying cryptocurrency on WhiteBIT
    5. Cryptocurrency purchase complete.

    The process of selling cryptocurrency is not very different from buying. To sell cryptocurrency, you need:

    1. Click Spot in the Trade menu;
    2. Choose the currency pair you want to use in the search field (for example, BTC/USDT);
    3. Select an order type, for example Market;
    4. Enter the amount of cryptocurrency you want to sell → Sell;
      Selling cryptocurrency on WhiteBIT
      Selling cryptocurrency on WhiteBIT
    5. Cryptocurrency sale complete.

    Other WhiteBIT services

    In addition to basic services for cryptocurrency trading, the exchange provides the ability to invest via smart-stacking.

    Crypto Lending

    Crypto Lending is a tool that allows exchange customers to earn profit for holding funds on the exchange with one of the available plans. The plans differ in terms of interest rates, duration of staking, and depositing amount of crypto.

    Crypto Lending on WhiteBIT
    Crypto Lending on WhiteBIT

    Mobile app

    The exchange has a mobile app that retains all the functionality of the service. It can be downloaded for iOS and Android. Thanks to the app, you can trade at any time using your mobile phone.

    Reviews

    You can find many positive reviews on WhiteBIT. In any case, when looking for reviews, pay attention to the content because frequently the exchange rating doesn’t relate with what is written in the review. To check the reputation of WhiteBIT and find a lot of reviews, you can use TrustPilot.

    Pros and Cons

    Simple and clear interface;
    Low trading commission;
    Advanced services (Crypto Lending, DEX);
    An option to exchange cryptocurrency to fiat currency;
    Demo account (you can trade DUSDT and DBTC demo tokens).
    No exact license and regulation information indicated;
    Low leverage: only up to 20x;
    Lack of educational materials.

    FAQ

    What is WhiteBIT?
    WhiteBIT is a crypto exchange with extensive trading options: multiple trading pairs, investment software and leverage trading. The platform cares about customer security - 96% of assets are stored in cold wallets.
    Can WhiteBIT be trusted?
    WhiteBIT was founded around 2018, and so far the exchange has not been seen to be unfriendly to users. The reviews online are mostly positive. All these indicate that WhiteBIT exchange can be trusted.
    How to trade on WhiteBIT?

    1. Click Spot in Trade menu;
    2. Select a crypto currency pair (for example, BTC/USDT) in the search field;
    3. Select an order type, for example Market;
    4. Enter the amount of cryptocurrency you are going to buy/sell → Buy/Sell;

    How to make a deposit on the WhiteBIT exchange?

    1. Click Balance → Total;
    2. Select the crypto currency you want to top up your account with, for example USDT → Deposit;
    3. Copy the address or scan the qr code, and paste it into your wallet → confirm the transaction;
    4. The WhiteBIT account is funded.

    How to buy on WhiteBIT?

    1. Click Trade → Spot;
    2. Select a crypto currency pair (e.g. BTC/USDT) in the search field;
    3. Select an order type, for example Market;
    4. Enter the amount of crypto you are going to buy → Buy.

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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
    Read more

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