| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | 26, J. Basanavičiaus Street, Vilnius, LT-03224, Republic of Lithuania |
| Types of support | |
| Languages | English, Chinese, Estonian, Spanish, Ukrainian, Russian, et al. |
| Company owner | Vladimir Nosov |
| Manager | Vladimir Nosov |
| Minimum deposit amount | Verified Cryptocurrency
Fiat Currency
Unverified Cryptocurrency
Fiat Currency Unavailable |
| Maximum input amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency Unavailable |
| Minimum withdrawal amount | Verified Cryptocurrency
Fiat Currency
Unverified Cryptocurrency
Fiat Currency
|
| Maximum withdrawal amount | Verified Cryptocurrency
Fiat Currency
Unverified Cryptocurrency
Fiat Currency
|
| Exchange Commission | Withdrawal fee: 0.0004 BTC Fee for fiat currency input: From 1.5 to 4.5 % / Depending on the deposit method Transaction fee: 0.1 % / For some couples, the commission may be lower Fee for the use of borrowed funds: 0.098 % / Daily commission on margin trading 0.078% |
| Terminals | TradingView |
| Age restrictions | From 18 years |
| Trading volume per day | 2.5 billion USD |
| Number of users | 3500000+The number of users may vary |
| Number of cryptocurrencies | 350+ |
| Margin trading | Yes |
| Leverage | Until 1:20 |
| Tokenized assets | Yes |
| Free demo account | Free Demo Token only Open a demo account |
| Types of accounts | Standard |
| Order execution | Market Execution (at market price), Limit Orders, Stop Limit, Stop-market, OCO-orders |
| Methods of replenishment | Advcash, Perfect Money, Qiwi, Bank card (Visa/MC) |
| Withdrawal methods | Advcash, Perfect Money, Qiwi, Bank card (Visa/MC) |
| Account Currencies | EUR, USD, UAH, Cryptocurrencies, KZT, TRY, GEL, GBP, PLN |
| Types of cryptocurrencies | Bitcoin, Litecoin, Ethereum, Bitcoin Cash, DASH, Stellar, TELOS Coin, Black Bitcoin, Sasin Coin, et al. |
| Mobile apps | |
| Trader training | Help Center FAQ |
| A way to store cryptocurrencies | Cold: yes96% Hot: yes4% |
| Fiat accounts | Yes |
| Scalping | No |
| Stop loss and take profit function | Yes |
| Possibility to exchange for fiat currencies | Yes |
| Terminal capabilities | Working with indicators, graphical tools |
| Analytics | History of the coin trade |
| Security | WAF (to detect and block hacker attacks), two-factor authentication and anti-phishing programs |
| Cryptodeposit | Ability to earn rates up to 30% in 12 months for keeping a deposit |
| Bitcoin Global P2P | Fast cryptocurrency exchange and zero commission for the first month |
| WhiteBIT codes | Creation of unique codes for transferring funds to other WhiteBIT exchange users |
| WhiteSwap | Decentralized bank (DEX) on Ethereum |
| Bug Bounty | Reward program (up to $5000) for found vulnerabilities |
| Basic verification | Identity verification is required to make deposits and withdrawals, create and activate WhiteBIT codes, and use the "Buy Cryptocurrency" option |
| Advanced AML verification | Proof of identity is required to make any deposits and withdrawals, create and activate WhiteBIT codes, and use the "Buy Cryptocurrency" feature |
| API | |
| Affiliate Program | RegistrationUp to 40% from referral commission |
| Advantages | Low commissions and favorable rates Simple and straightforward service Availability of Russian language interface High performance Ability to use TradingView charts A cold way to store cryptocurrency Extensive functionality and a high level of security Synchronization with popular payment systems Availability of a mobile app Anti-Fishing |
| Company requisites | Legal name: UAB Clear White Technologies Legal address: 26, J. Basanavičiaus Street, Vilnius, LT-03224 Republic of Lithuania |
| Overall assessment | 7.4/10 |
| Date of update | December 7, 2023 |
WhiteBIT is this a scam? Review and Customers Reviews
Contents
WhiteBIT – a platform whose purpose is to provide digital asset exchange services. Exchange was launched in November 2018 by a team of professionals. The developers have created a simple, convenient and legal platform for trading.
In our review we will take a closer look at the features implemented by the project and find out whether WhiteBIT is a scam or a reliable platform for cryptocurrency trading.
Why WhiteBIT?
WhiteBIT is a young exchange, which appeared on the financial market in 2018. In such a short period the project was able to attract a large number of clients. The site’s interface whitebit.com is presented in several languages, which indicates the orientation to the international market, but the main customers are the citizens of the CIS. The main office of the project is located in Lithuania. The country was not chosen by chance, because the state is known for its loyal attitude to cryptocurrency. The company provides its clients with favorable and comfortable conditions for cooperation. In the listing at the moment added more than 350 currency pairs. Among the most popular ones we can highlight – BTC/USD, BCH/BTC, BTC/USDT, NEO/ETH and LTC/BTC.
In many ways the site is similar to its competitors, but there are a number of additional features. For example, the site offers a Cryptolanding investment program, which allows you to earn on deposits. The site also has a free WhiteBIT codes tool to move assets within the system. In this way, the user can move funds from the main account to an additional account. Another advantage is the high performance. By using SPA technology, the platform can handle up to 10,000 orders per second and 1,000,000,000 TCP connections. The trading itself is done through a simple and straightforward platform. An experienced trader will need no more than 15-20 minutes to understand the functionality provided.
The trading terminal includes the following functionality:
- window with the list of active markets;
- history of the last closed transactions;
- chart with market trends;
- form of purchase and sale.
To ensure that users have round-the-clock access to the trading platform from any location, a mobile application was created. With the help of a smartphone, the client will be able to use the functionality of the service even on the road. Both iOS and Android versions are available.
Among the main advantages of the platform can be distinguished:
- simple and straightforward interface;
- Russian-language interface;
- high performance;
- charting TradingView;
- low commissions;
- the cold method of storing cryptocurrency;
- broad functionality;
- additional functions;
- Sync with popular payment systems;
- mobile application;
- antiphishing.
How to exchange cryptocurrency on the whitebit.com platform?
To exchange foreign currency, you can use a special section on the website whitebit.comwhich has a simplified design. The section was specially designed for users who want to quickly and easily exchange assets without getting immersed in trading itself. To make an exchange, you need to select the desired currency to exchange and the currency to receive. After selecting the currency, enter the number of coins and click on the “Exchange” button. Often the exchange occurs instantly.
Verification on the White Beat platform
Verification is present on the platform whitebit.comHowever, it is not a mandatory process. The advantage of passing the verification is an increase in the withdrawal limit (because without it the limit is $100) and quick restoration of access to the exchange in the case of its loss to 2fa or loss of the password. To start the verification process, you should go to the “Confirmation” tab. The company provides several levels of identity verification. First of all it is necessary to fill the personal data:
- NAME;
- date of birth;
- gender;
- country, city and residence address.
After entering the data, you can proceed to the next stage of verification – sending documents. This section allows the user to send one of the suggested documents: passport, ID-card or driving license.
The next step is to upload a selfie with the document and a sheet that says WhiteBit, today’s date and signature.
The information collected is primarily needed to protect users’ assets in the event of hacking. After all the stages are passed, all that remains is to wait for the process of verification of the specified information. Verification takes anywhere from a few days to a few weeks on average.
Deposit and withdrawal
To start depositing, you need to go to the “Balance” tab on the main page. The exchange provides an opportunity to deposit both cryptocurrency and fiat funds (How to Make Money on Cryptocurrency?). To enter cryptocurrency you need:
- select the desired currency and click on “Deposit”;
- copy the generated digital wallet address;
- insert the address in the “Recipient Address” field and wait for the transfer of funds.
To enter fiat money, you should click on the “Deposit” button next to the value of USD. Then a form opens in front of the user, in which he should choose a payment system and the amount that the client wants to transfer to his account. After choosing the parameters it is necessary to click on “Request” and the system will automatically redirect to the payment system site. After following the instructions, funds will be credited to the trading account.
Withdrawal of earnings
To withdraw funds, you need to choose cryptocurrency or fiat in the same “Balance” tab, then click on “Withdraw” and fill out the appropriate form:
- insert the address of the wallet to transfer funds;
- enter the number of coins;
- read the information about the commission;
- click on “Request to withdraw funds”.
To withdraw fiat money, you need to do the same steps and specify the payment system for crediting funds. The maximum amount that a client can withdraw from the project depends on the type of his account:
- new and basic account – $500 per day;
- extended account – $100,000 per day.
WhiteBIT crypto exchange commission
The commission for trading operations is 0.1% for all. The advantage is that the exchange does not charge for deposit and withdrawal of funds. However, you should take into account that the withdrawal of earnings will be charged commission of the payment system.
White Beat Bonuses
There are no bonuses for users at this time.
Referral program
For traders who want to earn extra income on the exchange whitebit.com, a referral program is provided. Thus, customers have the opportunity to invite new users to the project and receive up to 40% of the commission. Also, the commission of the client will be 0.1%.
Complaints about WhiteBIT
Since the project appeared on the financial market less than a year ago, there are few reviews on the Internet from clients. At the moment, the company has a good reputation among users. Customers note the user-friendly and simple interface, low commissions. Of the disadvantages highlight the lack of a demo account.
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Regulation of the whitebit.com crypto exchange
There has always been a fairly large number of fraudsters in the financial sphere. To protect yourself from a negative experience of cooperation with an unscrupulous company, you should check the availability of the license, as well as the relevant documentation on the official website of the project. Let us consider in more detail how the organization is regulated.
Regulator
The exchange platform operates openly and transparently. That is why the company was registered in Lithuania, which is loyal to cryptocurrency. Transparent policy is a big plus and provides security to customers. Headquarters address: 26, J. Basanavičiaus Street, Vilnius, LT-03224 Republic of Lithuania. All necessary documentation is available to users. At the moment we have asked for information about availability of the license from company representatives, as soon as the information is received, we will post it in our review.
WhiteBit User Agreement
The “User Agreement” is a document that contains the basic rules of cooperation with the company, as well as the obligations of both parties. Every client should read the agreement before registering. Let’s consider some points in more detail. The user should be aware and accept the fact that the risk of loss when trading or owning digital currencies can be high. Digital currency services are not currently regulated in most countries (by the financial authorities or any other regulator). Therefore, the customer should carefully consider whether trading or holding digital currency is appropriate for them in light of your financial condition and possible risks.
Organizer agrees to provide services with due diligence, due care and in accordance with these terms of use. WhiteBIT’s liability is limited to the use of reasonable technical efforts to ensure that the transferred cryptocurrency is received. When initiating cryptocurrency transactions for a user who is not registered with the system, WhiteBIT’s liability will be further limited to ensuring that the necessary technical data is transmitted to the cryptocurrency network. To the extent permitted by law, the entity will not be liable for any losses, lost profits, loss of opportunity, loss of data, indirect losses, unless the losses incurred are caused by a violation of the terms of use.
The organizer has the right to suspend a user account and block all or part of the cryptocurrency contained in it if the client fails to fulfill or improperly fulfills the terms of use.
The user shall be liable for any damages caused and for all liability actions brought against the company for infringement of any third party rights or for violation of applicable laws. Nothing in the Terms of Use shall exclude or limit the customer’s liability for fraud, penalties for any other negative consequences caused by their negligence, breach of terms and conditions arising by operation of law or any other liability which cannot be limited or excluded by law.
If the company is unable to perform the services specified in the terms of use due to factors beyond its control, including the case of force majeure, change of law or sanctions policy, the organizer will not have any liability to the user with respect to the services provided under this agreement and for the period of time coinciding with the event.
All services are provided on an “As Is” basis without any express or implied warranty. Whitebit Financial Company OÜ will endeavor to maintain the site, but all online services suffer from occasional disruptions and outages, and Whitebit Financial Company OÜ is not responsible for any disruption or loss that the user may suffer as a result. Thus, organizer does not provide any guarantee that access to the site will not be interrupted or that there will not be any delays, failures, errors, omissions or loss of transmitted information. WhiteBIT will use reasonable efforts to ensure that the customer can access the site normally in accordance with the terms of use. Arranger may also suspend use of the site for maintenance purposes and will use reasonable efforts to notify the user of such suspension. Client acknowledges that this may not be possible in an emergency.
Customer Service
You can contact the support service by one of the suggested options:
- email: [email protected];
- online chat;
- social media.
Is WhiteBIT a scam?
WhiteBIT is a young project that appeared on the Internet in early 2019. In a relatively short period the platform was able to attract a lot of users. The company is focused mainly on the residents of the CIS countries, but the interface is also available in other languages. The headquarters is located in Estonia, from where the company is regulated. The platform provides its users with favorable, and most importantly, comfortable conditions for trading cryptocurrency. There are 150+ currency pairs in the listing of the exchange at the moment. The most popular are BTC/USD, BCH/BTC, BTC/USDT, NEO/ETH and LTC/BTC. In many aspects, the organization is similar to its competitors, but there are differences in functionality.
Those users who want to earn extra income can take part in an affiliate program and receive up to 40% of commission. To enable traders to access the trading platform around the clock, a mobile app has been developed. There is both an Android version and an iOS version. Although the company appeared on the site relatively recently, the first reviews from users can be found on the Internet. In general, the site has a positive reputation. Having analyzed the opportunities implemented by the company, can we say that WhiteBIT is a scam and fraud? No, because the organization is reliable and works in accordance with the legal framework.
Conclusion
WhiteBIT – is a young company that appeared on the market not so long ago. The service provides customers with a platform for cryptocurrency trading. Since 2019, the project has gained popularity among users. The main clients are traders from the CIS countries. For its users, the organization provides profitable and transparent trading conditions. However, trading itself is a risky process, so before starting cooperation it is necessary to soberly assess your own capabilities and risks. At the moment, the platform looks good among the competitors, but there is still work to be done. If you have cooperated with the company, leave your impressions about the service on our website.
Reviews
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Feedback approved for publication Rate your review 1+10Read and get help to make withdrawals
This company has caused me so much… This company has caused me so much stress and upset which made me burst into tears. Been trying to get arefund since may 30th. Customer service via email simply replies from a script. Chasing you during the day with phone calls while l’m at work, trying to get you… Read more
Positive- None
Minuses- Scam scam scam!!!
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Inaccurate feedback Rate your review 202According to AML check, money was stolen
Personally, my experience no one is advised to go to this exchange waiting for 128 days to receive their assets from them
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Feedback approved for publication Rate your review 1-34Wonderful exchange
Reliable exchange with which it is safe to deal! There are many trading options, a simple interface and excellent support service. Definitely recommend!
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Feedback approved for publication Rate your review 4+30A good product
The only exchange that I trust. 2FA and anti-phishing – complete reliability. Support is great, they work quickly and respond immediately. Good product, thank you!
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Rate your review 000Slowly
I’ve been using WhiteBIT for a couple of months now. It seems to be all right. But it seems a little slow to me.
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Rate your review 000Whitebit - scammers, stole money
I had to withdraw the money usd to the card monobank, asked the support, said the withdrawal of 1 – 60 minutes will last, in the end after 2 hours, the money did not come. It seems that they stole it.
Positive- Technical support
Minuses- Money was stolen
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Rate your review 000The first experience is quite pleasant
I’ve been using WhiteBIT not so long, but the overall impression is positive. The interface is user-friendly, there are enough trading pairs.
Positive- many trading pairs
Minuses- I don’t see any obvious ones yet
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Rate your review 1+10Very nice commission
I’ve traded on different platforms, but I haven’t seen such low commissions! Standard – 0.1%. I’m thrilled.
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Rate your review 1+10Perfect
I think WhiteBIT is ideal for those who have no trading experience. The platform is easy to navigate, and the support team is quick to answer all questions.
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Rate your review 1+10There are no complaints
If you are not afraid of having to verify, try whitebit. Everything else here is top-notch. I’ve been trading here for more than two years.
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Rate your review 1+10Normal exchange, I'm getting used to it
Everything is cool! Support answers quickly, if there are problems, they are also solved quickly. I like it so far.
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Rate your review 1+10I would like transactions to be carried out a little faster
I like the fact that there is verification and 2FA. Of the minuses – sometimes it takes a long time to withdraw funds
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Rate your review 1+10I've been on the stock market for a year now
I have been using the exchanger for about a year. So far without any problems. The advantages are a large number of trading pairs and high speed of transaction processing.
Positive- transaction processing speed
Minuses- no special ones
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Rate your review 1+10Wonderful exchange
Excellent exchanger with a large number of trading pairs. Suitable for beginners and experienced traders. I recommend it!
Positive- many trading pairs
Minuses- No
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Rate your review 1+10Decent exchange
Tried different exchanges, all have their pros and cons. WB – a decent option, which provides all the features for trading and stacking.
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Rate your review 1+10I'm waiting for compensation
I filled out the form a while ago and am still waiting for my compensation, but I know several traders who have already received it. To be honest, I expected it to be faster.
Positive- Lots of cool activities
Minuses- Long mailing
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Rate your review 1+10A normal exchange, but beginners will have to understand the tools
A lot of trading tools. It was a little difficult to understand.
Positive- many functions
Minuses- not for beginners
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Rate your review 1+10Not the best of the best, but a convenient exchange
Not a bad platform with a user-friendly interface. Definitely not the best. But without critical flaws
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Rate your review 000The exchange cares about the safety of users
It’s cool that the guys pay a lot of attention to security, although it’s complicated with all the verification and two-factor, but it adds confidence. I was waiting for a long time for the withdrawal of funds.
Positive- safety
Minuses- long withdrawal of funds
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Rate your review 000An excellent exchange, suitable for a wide variety of purposes!
I used to use 4SafeMoon to trade, now I change fiat here regularly. And the application itself is convenient, that’s a big plus!
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Rate your review 000Excellent exchange, good support
Reliable, fast and high quality. What more do you need? I’ll give you an A.
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Rate your review 000Many new projects
I like the fact that there are new coins all the time, and the security seems to be good. Especially lately, you can see that the guys are working.
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Rate your review 000Long verification process
I was verified for a day, as I remember it is a long time, but because friends here trade and I will try. Otherwise, everything looks good so far
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Rate your review 2+11Scammers
I made a transaction from the exchange Okex to WhiteBIT The first transaction was correct – as I understood it was indicative to make people believe. After the first transaction the money in my account just did not come because the second transaction confirmed Okex and the money in the account is displayed… Read more
Minuses- Scammers
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Rate your review 000Issues with verification
I signed up and decided to go straight to CUS. There was a problem with verification and it took the support team a whole day to solve it, but it seems to be resolved
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Rate your review 000Support
Telegram chat support is top notch. The email with the compensation form went to spam, and the guys responded promptly.
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Rate your review 000I withdrew money from Amir Capital through...
I withdrew money from Amir Capital through the exchanger, whose account, unfortunately for me, was on this exchange. In the end, the money from the account came to the exchange, but the exchanger’s account did not receive, support exchange sent me "affectionately sent" by some delusional justification… Read more
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Rate your review 000Came to exchange btc and now I'm...
Came to exchange btc and now I’m doing margin trading. So far I like everything, I will try more.
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Rate your review 0-10For the work of support blagdarnosti of...
For the work of support blagdarnosti of course, but the interface is not ponticheskuyu some time, maybe not practiced, but changed a lot to me as it seems.
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Rate your review 000I'm new to Whitebit, but so far...
I’m new to Whitebit, but so far so good. It’s cool that there is a possibility to trade demo, I’m getting used to it.
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Rate your review 000No questions, good exchange, I had no...
No questions, good exchange, I had no problems with withdrawal in a year of trading. Keep it up guys!
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Rate your review 000Thanks a lot to the support team
Thanks a lot to the support team, literally immediately solved the problem with verification, avoided waste of unnecessary nerves.
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Rate your review 0+10I liked the work of the support...
I liked the work of the support team, very quickly resolved the issue.
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Rate your review 000It's cool that there is a demo...
It’s cool that there is a demo account for beginners, as well as all sorts of additional functions for professionals.
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Rate your review 000There is a huge number of assets...
There is a huge number of assets for trade, and new promising coins are constantly being listed.
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Rate your review 000I recently installed whitebit app using a...
I recently installed whitebit app using a referral link. everything is great, there are small bugs, but who doesn’t have them. The commissions are good, the volume of trades is acceptable.
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Rate your review 000Thanks for the quick solution to the...
Thanks for the quick solution to the Poodl problem. WhiteBIT are great!
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Rate your review 000I've been trading on WhiteBIT for the...
I’ve been trading on WhiteBIT for the second year, so far the most convenient exchange. I don’t understand who’s writing comments about slow work of the trading room. I always get help in time, thank you for that!
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Rate your review 0+10Received approval for compensation, but also received...
Received approval for compensation, but also received it. Fast and bravo that everything is clear and straightforward
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Rate your review 000Very pleased with the work of the...
Very pleased with the work of the support team, helped me quickly pass the KYC, no problems at all!
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Rate your review 000Absolutely inadequate... accidentally made 5 coins ripla
Absolutely inadequate… accidentally made 5 coins ripla, need to shoot a video to – something to prove even though the history of blockchain is, absolutely impenetrable some
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Rate your review 000Reliable exchange. First of all I paid...
Reliable exchange. First of all I paid attention to the level of security, cold wallet storage for 96% of assets (multi-signature protection), two-factor, everything as it should.
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Rate your review 00Met with such a problem, I bought...
Met with such a problem, I bought POODL V1 tokens 26.04 on this exchange, 03.05 made a withdrawal to a third-party wallet and immediately put it back (I decided to check how quickly transactions occur, so to speak), but unfortunately, after a long wait, 05.05 from tech support I learned that the exchange… Read more
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Rate your review 00Even though I am an experienced trader
Even though I am an experienced trader, I was surprised to see so many tokens/coins on the exchange!
I give it an A in the hope to see more top projects in the future, don’t get bogged down with them) -
Rate your review 00I am currently testing several bitcoin trading...
I am currently testing several bitcoin trading apps and WhiteBit is the leader so far. Although it is a bit slower, but the support is on the level, I always get answers and help even in the middle of the night. And also the security level is good, you can trust it.
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Rate your review 00I am new to trading, so I...
I am new to trading, so I can not yet appreciate all the functionality of the exchange as it still has to deal with it, thanks for the tutorials
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Rate your review 00I had to be nervous, because the...
I had to be nervous, because the deposit was not immediately displayed on the balance. But technical support quickly responded and corrected the situation. Thanks for the promptness!
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Rate your review 00I have tried several exchangers, I settled...
I have tried several exchangers, I settled on WhiteBIT. Convenient interface, a large selection of tools, a high level of security.
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Rate your review 00There is a huge number of assets...
There is a huge number of assets for trade, and new promising coins are constantly being listed.
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Rate your review 00I've been on WhiteBIT for 2 years
I’ve been on WhiteBIT for 2 years, no complaints. Security is top-notch (two-factor, anti-phishing, only 4% of assets are stored on hot wallets).
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Rate your review 0+30Scammers! You do not withdraw money under...
Scammers! You do not withdraw money under the pretext of various commissions! Withdraw only small change!!!
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Rate your review 0-40I was looking for feedback on a...
I was looking for feedback on a new exchange for me and thanks to this site I have found a convenient platform for trading. Excellent exchanger, user-friendly interface. What this exchange lacks is a community. Especially the Russian-speaking. I recommend it. Proof – a screenshot of my balance on the… Read more
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WhiteBIT reviews