Whitebit exchange
2019
Not available
https://whitebit.com/
600+
Cryptocurrencies, Credit/debit card
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Trading fees vary, but never exceed 0.1%. Deposit/withdrawal fees depend on method.
0.2%-1.5% / €5
Varies
0.1% / 0.1 %
Fees can be lowered by owning WBT coin.
Bitcoin: 0.0004 BTC
Ethereum: 0.0032769 ETH
Tether: 1 USDT
Binance Coin: 0 BNB
Cardano: 2 ADA
Solana: 0.03 SOL
Ripple: 0.25 XRP
Polkadot: 0.16 DOT
Dogecoin: 5 DOGE
Shiba Inu: 869913 SHIB
Stellar: 0.2 XLM
Litecoin: 0.001 LTC
Level 1 KYC requires phone and email verification, while level 2 KYC requires ID verification
You can deposit/withdraw crypto without KYC, but need to verify your account for fiat transactions. Verified phone number and email for Level 1 KYC, while Level 2 KYC requires government-issued ID and proof of address.
needed
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20x
Whitebit offers both spot and margin trading in a variety of cryptocurrencies, as well as OTC trading and token staking.
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All countries except for the United States
Crypto ball - Whitebit is official cryptocurrency exchange partner of FC Barcelona
Whitebit Exchange Review
Whitebit is a cryptocurrency exchange platform founded in 2018 that offers a wide range of trading options to its users. The platform is known for its fast transaction speeds, high liquidity, and user-friendly interface. With over 270 listed cryptocurrencies and more being added regularly, this exchange is becoming more popular every day.
Based on the platform's own data, there are currently 350+ trading pairs and a daily trading volume of more than $2.5 billion.
Whitebit Exchange Bonuses
Unlike other popular exchanges, Whitebit does not have any bonuses or rewards for new users. However, Whitebit does offer periodic promotions and discounts on trading fees, allowing traders to take advantage of the market trends.
Whitebit Exchange Safety and Regulation
Is Whitebit Exchange Safe to Use?
Whitebit Exchange is quite safe to use, however, like all other centralized exchanges, the platform is at risk of hacker attacks. To mitigate that risk, Whitebit has implemented several security measures, including two-factor authentication (2FA) and Captcha verification.
Whitebit Exchange Licenses
As of now, Whitebit Exchange has not registered itself with any licensing authorities. Although it seems to have had Estonian licenses at some point. However, the team at Whitebit is working towards obtaining an official government-issued license.
Whitebit Exchange Account Security Options
Whitebit Exchange provides its users with a range of security options, such as two-factor authentication, email confirmations for withdrawals, security keys, and other features.
Deposits and Withdrawals on Whitebit Exchange Platform
Does Whitebit Exchange Have a Withdrawal Limit?
Yes, Whitebit Exchange has withdrawal limits depending on the verification level of your account. If you haven't verified your account, the daily crypto withdrawal limit is 2 BTC.
How to Deposit Money into Whitebit Exchange?
To deposit funds into your Whitebit Exchange account, click on the Balances tab, then Total, or Main, and then click Deposit. Then select the cryptocurrency you wish to deposit (or choose Visa/Mastercard), and follow the instructions provided.
How to Withdraw from Whitebit Exchange?
To withdraw funds from your Whitebit Exchange account, do exactly the same as with deposits, but instead of clicking on Deposit, click on the Withdrawal tab. Now choose the ticker/crypto, enter your withdrawal address, enter the amount you wish to withdraw, and now just click the Withdrawal request button.
What about deposit/withdrawal limits?
Whitebit Exchange Fees
Deposit Fees
Whitebit Exchange does not charge any fees for crypto deposits.
If you buy crypto using your credit card, or bank transfer, the exact fees depend on the details.
For example, SEPA deposits in EUR cost just 0.2% (with the maximum possible fee ever being 29 EUR).
Credit card fees are normally around 1.5%, but depending on details can be as high as 3.5%.
Withdrawal Fees
The withdrawal fee for each cryptocurrency varies, and you can check the fee schedule on the Whitebit Exchange website.
Credit card withdrawal fees are normally 1.5% while SEPA withdrawals are free.
Trading Fees
The fee structure for trading on Whitebit Exchange is simple and affordable with a reasonable fee of 0.10% for makers and takers. The fee can be lowered by owning WBT token.
Daily fee for using margin trading is 0.078%.
Trading on Whitebit Exchange Platform
Whitebit Exchange offers its users high-speed order execution, with low latency and efficient order matching. This makes trading a seamless process, especially for professional traders.
How High Leverage Does Whitebit Exchange Offer?
Whitebit Exchange offers up to 20x leverage for margin trading.
Whitebit Exchange KYC
Do You Have to Verify Your Account on Whitebit Exchange?
For security reasons it's always a good idea to verify your account. And they do say that you need to verify your account before you can deposit or withdraw.
But it looks like you actually can deposit and withdraw cryptos without it as well, up to a limit.
Of course, Buy crypto option can only be used after you go through the verification process.
How to Verify Your Whitebit Exchange Account?
To verify your Whitebit Exchange account, click on the Verify Account tab, and follow the instructions provided.
Usually it shouldn't take too much time, and during the process you just need to upload copy of your document and selfie.
Why and When Should You Verify Your Whitebit Exchange Account?
By verifying your Whitebit Exchange account, you can increase your withdrawal limit and access other exclusive features such as API keys, referrals, and promotions.
While anonymity is good, identity verification actually makes your account more secure. So we'd suggest you do it right after signup.
Whitebit Exchange App
Whitebit app is easy-to-use and you can use it for trading (including margin trading), crypto lending and more. Basically all options you have in the desktop version you also have in the app.
Whitebit Exchange Earn
Whitebit Exchange offers its users the opportunity to earn passive income through its crypto lending program.
Soon they are also launching Staking.
Whitebit Exchange Customer Support
Whitebit Exchange has a reliable customer support team that offers 24/7 live chat and email support. Users can rely on them to assist them with any trading or account-related issues.
Pros and Cons of Using Whitebit Exchange
Pros | Cons |
|---|---|
Simple user-friendly interface | No license |
High liquidity | Amount of cryptocurrencies could be higher |
Low trading fees |
Is Whitebit Exchange Simple to Use?
Yes, the Whitebit Exchange platform is easy to navigate and use, making it ideal for both novice and professional traders.
Which Countries Does Whitebit Exchange Accept People From?
Whitebit Exchange accepts traders from most countries worldwide except for those with cryptocurrency restrictions such as China, North Korea, Syria, and Iran.
Can People from USA, Canada, and Japan Use Whitebit Exchange?
Yes, Whitebit Exchange accepts users from these countries. However, they might have some restrictions imposed on them.
What Do Traders Think About Whitebit Based on Reviews and Comments on other websites?
Based on the user reviews and comments, most traders appreciate their overall reliability, user-friendly interface, and low fees.
There are some users who claim to be having problems with KYC verification.
Final Verdict
Whitebit Exchange is a reliable and user-friendly platform for traders of all levels. It is a great platform for traders who want to experience seamless crypto trading. Whitebit offers low fees and while not a huge, but still good enough, crypto selection.
Top 3 Alternatives to Whitebit
If this exchange is not for you, find alternative fiat exchanges below:
I became interested in cryptocurrencies only a bit more than two years ago. Since then I have been in investing in cryptos using different exchanges. And I also launched Cryptolorium.com when I started trading, just to share my crypto journey and my results.