WhiteBIT Review 2023

Volume (24h)
$855,478,120-11.72% ↓
Pairs
282
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
$27,671.00
24h Volume
$478,371,569
Spread
+0.01%
Price change in 24h
-$695.12 ↓ / -2.45%
Pair
ETH/USDT
Price
$1,760.85
24h Volume
$151,126,277
Spread
+0.01%
Price change in 24h
-$61.12 ↓ / -3.35%
Pair
ETH/BTC
Price
$1,760.85
24h Volume
$108,295,457
Spread
+0.02%
Price change in 24h
-$61.12 ↓ / -3.35%
Pair
USDC/USDT
Price
$1.006
24h Volume
$9,389,383
Spread
+0.16%
Price change in 24h
+$0.0027861 ↑ / +0.28%
Pair
USDT/EUR
Price
$1.007
24h Volume
$9,125,035
Spread
+0.01%
Price change in 24h
+$0.0024491 ↑ / +0.24%
Pair
DOGE/USDT
Price
$0.07549
24h Volume
$6,847,153
Spread
+0.02%
Price change in 24h
-$0.0016503 ↓ / -2.14%
Pair
XRP/USDT
Price
$0.45160
24h Volume
$6,359,621
Spread
+0.04%
Price change in 24h
+$0.011838 ↑ / +2.69%
Pair
TUSD/USDT
Price
$1.006
24h Volume
$5,865,632
Spread
+0.10%
Price change in 24h
+$0.0038640 ↑ / +0.39%
Pair
LINK/USDT
Price
$7.22
24h Volume
$4,649,591
Spread
+0.04%
Price change in 24h
-$0.30126 ↓ / -4.01%
Pair
BTC/TUSD
Price
$27,671.00
24h Volume
$4,214,419
Spread
+0.04%
Price change in 24h
-$695.12 ↓ / -2.45%

    WhiteBit is a crypto exchange with a large variety of trading pairs, P2P exchanges, investment and leveraged trading programs. 96% of digital assets the platform stores on cold wallets, thus ensuring their safety.

    WhiteBIT cryptocurrency exchange
    WhiteBit exchange website home page

    The site is suitable for both experienced traders and beginners, offering two types of interface for trading: basic (simpler) and professional (with many trading possibilities).

    Crypto exchange WhiteBit launched in 2018. The trading platform is currently used by 2 million+ customers and the project team consists of more than 450 people. The company is headquartered in Estonia. The company focuses on the European market and offers its services to citizens from 190 countries.

    Account Signup and Verification

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

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

    Identity verification increases withdrawal limit up to 100 BTC per day (without verification – up to 2 BTC per day), allows you to work with fiat currencies and restore account in case of loss of 2FA code. To pass the verification process, you need:

    1. Hover over the profile icon and click Verification;
      Verification on WhiteBit exchange
      Verify at WhiteBit exchange
    2. Enter your personal details (name, date of birth, address etc.) → Next Step;
      Verification at WhiteBit exchange
      Verify at WhiteBit exchange
    3. Select a proof of identity and upload a picture;
      Verification at WhiteBit exchange
      Verify at WhiteBit exchange
    4. Take selfies with a webcam or mobile app on the exchange;
    5. Verify completed.
    KYC verification takes 24 hours. You will be informed about the result by email.

    Account Security

    In order to increase the security of your account you need to go through a 2FA procedure. 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 other sensitive activities. The following steps are required to enable 2FA:

    1. Click on the profile icon and select Security;
    2. Scan the qr code with the Google Authenticator app;
      Two-factor authentication on WhiteBit exchange
      Two-factor authentication at WhiteBit exchange
    3. Paste the six-digit code from the application in the appropriate field;
    4. Double-factor authentication is enabled.
    Two-factor authentication on the site is single-level, but WhiteBit also uses anti-phishing software for enhanced customer security.

    Account is registered. What next?

    For full use of the exchange, investing and trading, you need to fund your account and familiarise yourself with the platform’s functions. In the tutorial below you will find information on how to deposit and withdraw funds from WhiteBit.

    Available funding and withdrawal options

    To make a deposit on WhiteBit you need to:

    1. Hover over Balance → Total;
    2. Select the cryptocurrency you want to deposit your balance with, for example USDT → Deposit;
      Deposit to WhiteBit exchange
      Fill account at WhiteBit exchange
    3. Copy the address or scan the qr code and paste it in the sender wallet → confirm the transaction;
      Deposit to WhiteBit exchange
      Fill account at WhiteBit exchange
    4. Recharge your WhiteBit account.
    You can also deposit to your account fiat currencies (for example, USD) and then buy with them the desired cryptocurrency.

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

    1. Hold the cursor on Balance → Total;
    2. Select the currency you want to withdraw, for example USDT → Withdraw;
      Withdraw WhiteBit
      Withdrawal of funds from WhiteBit
    3. Specify network, number of coins to withdraw → insert merchant wallet address → Withdraw Request;
      WhiteBit withdrawals
      Withdrawal of funds from WhiteBit
    4. Money withdrawn from WhiteBit.

    Trading conditions and instruments available at WhiteBit

    The exchange offers a variety of trading tools: fast exchange, spot, margin trading, P2P exchange and others. The user-friendly interface makes the platform easy to understand.

    Fast 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

    Quick exchange on WhiteBit exchange
    Fast exchange on WhiteBit exchange

    Spot Market

    The Spot Market is a platform where purchases and sales of cryptocurrencies and other assets occur. The main feature of the platform is the instant delivery of cryptocurrency from seller to buyer.

    The Spot Market contains many trading pairs with all popular cryptocurrencies. The trading interface is user-friendly and charts are available with TradingView. WhiteBit is one of the top 50 exchanges by trading volume on the spot market.

    The platform has two types of interface for spot trading: basic and professional.

    The basic one will be easier for beginners to understand, while the professional one has more features to apply more sophisticated trading strategies.

    Spot market on WhiteBit exchange
    WhiteBit exchange spot market

    P2P

    WhiteBit has its own P2P exchange platform – BitcoinGlobal. It is very easy to start using it: you do not even need to verify. The platform offers trading in 5 cryptocurrencies: BTC, USDT, ETH, TRX and HOGE. Almost all popular fiat currencies can be found in the trading pairs. The service doesn’t charge any trading fees for the first 30 days.

    P2P exchange on WhiteBit
    P2P exchange on WhiteBit

    Marginal trading

    Marginal trading on the exchange provides leverage up to 20x and a large number of popular trading pairs. The daily fee for borrowing funds is 0.098%.

    Margin trading on WhiteBit
    Margin trading on WhiteBit

    Commissions and Limits

    Standard trading commission at the site is 0.1%, and it can be lower for some trading pairs. The daily commission for margin trading is 0.098%. Deposit and withdrawal limits differ depending on the coin chosen. Withdrawal commissions are also different for each individual cryptocurrency.

    Commissions and limits on WhiteBit
    Commissions and limits on WhiteBit
    To read more about commissions and limits, please visit official platform website.

    How to trade on the WhiteBIT cryptocurrency exchange

    The trading interface of the service allows you to freely understand the process of buying and selling cryptocurrencies. Our guide will help you understand the best tools to trade and the easiest way to buy/sell cryptocurrencies. To buy crypto on WhiteBit, you need to:

    1. Go to Basic via the Trade tab;
    2. Find the desired currency pair in the search box (for example, BTC/USDT);
    3. Select an order such as Market;
    4. Enter the amount you are going to buy the cryptocurrency → Buy;
      Buying cryptocurrency on WhiteBit
      Buying cryptocurrency on WhiteBit
    5. Crypto-currency purchase complete.

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

    1. Go to Basic under the Trade tab;
    2. Find the desired currency pair in the search box (for example, BTC/USDT);
    3. Select an order, for example Market;
    4. Enter the amount of cryptocurrency you want to sell → Sell;
      Sell cryptocurrency on WhiteBit
      Selling cryptocurrency on WhiteBit
    5. Cryptocurrency sale complete.

    Advanced services of WhiteBIT

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

    SmartStacking

    SMART Staking is a tool that allows exchange customers to ear profit for holding funds in one of the available plans. The plans differ in terms of interest rates, duration of staking, and minimum and maximum storage amount.

    Smart-stacking on WhiteBit
    Smartstaking 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 at reviews, pay attention to the content because frequently the rating has nothing to do with what is written. To assess the reputation of the exchanger and find a large number of reviews, you can use TrustPilot

    Benefits and drawbacks

    Simple and straightforward interface;
    Low trading commission;
    Advanced services (SMART-staking, DeX);
    Ability to exchange cryptocurrency for fiat currency;
    Demo account (can trade DUSDT and DBTC demo tokens);
    The exchange provides P2P exchange.
    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, P2P exchange, investment software and leveraged trading. The platform cares about customer security, so 96% of assets are stored in cold wallets.
    Can WhiteBIT be trusted?
    WhiteBit has been around since 2018, and so far the exchange has not been seen to be unfriendly to users. And the reviews online are mostly positive. All this indicates that WhiteBit exchange can be trusted.
    How to trade on WhiteBit?
    To trade on the exchange, you need:

    1. Go to Basic at Trade;
    2. Find the desired currency pair (for example, BTC/USDT) through the search box;
    3. Find the order
    4. Select an order, for example Market;
    5. Choose an amount.
    6. Enter the amount you are going to buy/sell the cryptocurrency → Buy/Sell;

    How to deposit on the WhiteBIT exchange?
    To deposit, you need:

    1. Hold the cursor on Balance → Total;
    2. Choose a currency
    3. Select the currency you wish to top up your account with, for example USDT → Deposit;
    4. Copy the address or scan the qr code, and paste it into the sender wallet → confirm the transaction;
    5. WhiteBit account is funded

    How to buy on WhiteBit?
    To buy cryptocurrency on WhiteBit, you need:

    1. Go to Basic under Trade;
    2. Find the desired currency pair (e.g. BTC/USDT) in the search box;
    3. Select an order, for example Market;
    4. Choose an amount.
    5. Enter the amount you are going to buy the cryptocurrency → 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.
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