WhiteBIT is a centralized cryptocurrency exchange (CEX). Developed in Ukraine, it's considered one of Europe's biggest crypto exchange service providers. Traders on the WhiteBIT crypto exchange can access spot and derivatives markets, margin and P2P trading, as well as additional services like DEX and staking.
WhiteBIT is KYC-compliant and requires ID verification to access trading. The platform is available in over 190 countries. However, users from several countries, including the USA, Syria, Pakistan, Russia, the Autonomous Republic of Crimea as well as other russian-occupied Ukrainian territories, are restricted from accessing the WhiteBIT cryptocurrency exchange services.
Markets
WhiteBIT facilitates crypto-crypto as well as crypto-fiat trading. Also, users can transfer both fiat and digital assets peer-to-peer using WhiteBIT Codes. The platform hosts its native token, WBT. Overall, there are more than 270 cryptocurrencies available, accounting for over 350 WhiteBIT trading pairs.
Traders have several markets to choose from, with the WhiteBIT spot and derivatives markets being the main services. Margin trading is enabled, allowing up to 10x leverage. The trade-matching engine is custom-built and scalable. In total, there are six types of trading orders.
Registered users can access five types of Balance pages to navigate their funds more simply. Each WhiteBIT crypto price in the balances is denominated in USDT. The five balance types are:
- Total
- Main
- Trade
- Collateral
- Earn
The total balance section is the overall summary of all balances in the account. The main balance is where the assets go after making a fiat or crypto deposit. The trade balance shows the balance used for placing orders and exchanging currencies. The collateral balance is relevant for margin and futures traders.
The default WhiteBIT exchange fees for trading are 0.1%. However, this rate can be reduced if you hold WBT tokens in your account. Additionally, margin traders pay a daily fee of 0.0585% for using their funds.
The derivates market uses USDT-margined perpetual contacts. The WhiteBIT crypto fees for futures traders are fixed at 0.035% for takers and 0.01% for makers. Additionally, perpetual contracts can be traded with 50x and 100x leverage.
In addition to the spot and derivatives markets, the platform also offers Bitcoin Global, a peer-to-peer (P2P) crypto exchange. Users can trade BTC and USDT using instant transfers. There are no fees during the first month of trading, regardless of the WhiteBIT volume.
Customers that join the Referral Program are eligible to earn back up to 50% of the WhiteBIT exchange fees for their referrals. The rate is added to the main balance on the first day of each month.
Most deposits on the WhiteBIT cryptocurrency exchange are free when using cryptocurrencies, including stablecoins. Deposits can also be made using EUR or USD. Withdrawal fees may vary based on the selected asset. Both deposits and withdrawal charges may apply to fiat currencies. The prices will be listed in the selected currency.
Other Services
While the WhiteBIT crypto exchange is centralized, the platform also hosts WhiteSwap. It's an automated market maker (AMM) that acts as a decentralized cryptocurrency exchange (DEX). WhiteSwap runs on Tron and Ethereum blockchains. This product is user-owned and distributes the governance token WSD.
Crypt Lending is a tool for earning passive income by staking tokens. There are several different active plans that customers can choose from. There are limits on the minimum and maximum deposit amount based on the selected plan.
Developers can access WhiteBIT API tools. They can be used to access real market data and can be implemented as open-source integrations. The API endpoints provide information about the trade balance, orders, and other cached information.
About the Company
The WhiteBIT crypto exchange was founded by Volodymyr Nosov in 2018. While the company was founded in Ukraine, it's registered in Lithuania, Vilnius.
Based on the average daily WhiteBIT trade volume of $2,5 billion, it's considered one of the biggest centralized cryptocurrency exchanges in Europe. According to data from August 2022, the platform's web traffic increased by nearly 250% within a year.
In June 2022, the WhiteBIT cryptocurrency exchange participated in an auction and acquired the Eurovision microphone, which was won by the Ukrainian band Kalush Orchestra. According to Nosov, the decision to purchase the trophy was made to support the Armed Forces of Ukraine.
In early August 2022, WhiteBIT announced the launch of WhiteBIT Token (WTB), its native asset. According to the team, the WhiteBIT crypto price is designed to be deflationary, given its limited supply of 400 million. The announcement also confirmed that the platform has more than 4 million global users.
Volodymyr Nosov is the CEO of WhiteBIT. He also co-founded the retailer Vivaparket in 2012. Nosov is an entrepreneur who focuses on business development, strategy, and management.
