WhiteBIT is a young platform for operations with cryptocurrencies. It was founded in 2017 by Ukrainian businessmen and registered in Estonia. The company has offices in London and operates in more than 150 countries.
It happened so that despite the short time of its existence, the company made it to the world’s top exchanges and has gained over 2 million registered users. Let’s find out the reasons for such a breakthrough and why people worldwide prefer the WhiteBIT crypto platform to others.
WhiteBIT belongs to a centralized type of exchange. The company operates officially under European jurisdiction and features the traditional management structure. The central office checks every user who wants to use the platform’s full-fledged functionality, offering to pass the KYC verification. When a client is checked, and nothing illegal was found in his past activities with crypto assets, one can use all the tools of the exchange. That is:
- smart staking
- margin trading
- trading with leverage
- p2p exchanger
- attractive affiliate program
- trade with fiat
Of course, only registered users can buy crypto assets with fiat currencies and bank cards. Those not registered can only access simple swaps.
WhiteBIT exchange stores 96% of clients’ assets offline, which means they are inaccessible to hackers.
Every user is offered to set two-factor authentication to configure a higher level of protection for their assets.
Now that we have answered the question “what is WhiteBIT?”, let’s find out its advantages and disadvantages.
WhiteBIT Crypto Platform: Pros and Cons
Let’s begin with advantages:
- All the popular crypto coins, altcoins, and fiat currencies are available
- Big trade volume
- The opportunity to use bank cards and e-wallets
- Average fee of 0,1%, and no additional commissions
- Demo account for practicing in trading
- Trading tools that may be adjusted for every user
- Educational section
- Attractive affiliate program
- One-level referral program, which is not enough for some users
- In addition to withdrawal fees, some assets have deposit fees
- Absence of advanced training except for staking
Overall, the WhiteBIT crypto receives positive reviews, even though some aspects still need the developers’ attention.