WhiteBIT – A Trusted CEX with high-yield Staking on BTC, ETH and USDT

WhiteBIT – A Trusted CEX with high-yield Staking on BTC, ETH and USDT

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Whitebit Review

 

Features

Founded: 2018
Founder: Vladimir Nosov
TPS: n/a
Support: email
Token: WBT
Wallet: n/a
Clients: 3mil+
Bonus: Bug bounty; competition
Types of instruments: Margin (20x), Futures
Crypto: 80+ pairs
Staking: Yes
Beginner-friendly: Yes

 

Overview

WhiteBIT is a centralized European cryptocurrency exchange platform that was founded in 2018 by Vladimir Nosov and has more than 3 million clients.

This exchange offers dozens of cryptocurrencies, stablecoins and altcoins, and is a popular option for Staking, Margin trading and Futures.

When trading crypto with WhiteBit, you can switch between the Basic exchange interface and a more advanced interface.

You also have the option of using WhiteBIT’s beginner-friendly mobile app.

If you’re a developer or you have some experience with programming, WhiteBIT offers a highly rewarding bug bounty program for finding any faults in the system.

WhiteBIT also offers a decentralized exchange (DEX) called WhiteSwap that uses a governance token and there are plenty of liquidity pools you can join on the DEX.

Let’s take a more detailed look at all the products WhiteBIT offers:

 

Features

If you have any tokens or altcoins sitting idle in your crypto wallets, we highly recommend staking them on the WhiteBIT platform.

WhiteBIT’s SMART staking program offers up to 30% annual returns for holding and staking Bitcoin (BTC), Ethereum (ETH) or Tether (USDT).

There are several staking plans and you can lock your tokens for 10 days, 20 days, 90 days, 180 days or 360 days.

If you stake for at least 360 days, you will have much higher returns, but short-term staking is also a viable option.

To lock your tokens in one of the staking plans, click on the menu icon on the right side and select “SMART staking”.

 

You can also enter the WhiteBIT trading competitions to earn free crypto.

Most recently, WhiteBIT hosted competitions for several tokens, including NEAR (Near Protocol), CENT (Centaurify), VOLT (Volt Inu) and several others, as well as having different Bitcoin prize pools.

There are no competitions running currently, but you can view all previous and upcoming competitions by bookmarking the “Trading Competitions” page.

 

WhiteBIT also offer a Referral Program where you will receive 40% of every trading fee paid by the users who sign up via your referral link.

All you need to do is create a WhiteBIT account, get your referral link and share it with your friends, family and followers.

You can easily calculate your potential earnings by using the WhiteBIT referral calculator.

 

WhiteBIT gives you the option of using either the Basic exchange or the Pro exchange. To view the exchanges, click on the “Trading” tab and choose either “Basic” or “PRO Trade”.

If you are new to trading, we recommend using the basic exchange.

The basic exchange has a very straightforward layout that makes it easy to buy and sell cryptocurrencies.

You can easily access indicators, change timeframes and browse crypto pairs with this exchange and it shows in-depth charts.

 

The PRO Trade exchange has all the same features as the basic exchange but it has a more sophisticated layout and shows order books and more detailed trade information.

The pro exchange also offers more order types and you can set different types of limits on your orders.

It is also much easier to leverage your tokens using the pro exchange as there is a dedicated panel for this on the right side of the screen.

 

You also have the option of using the WhiteBIT Mobile app. This app is beginner-friendly and you can use it t manage your account and easy buy, sell and stake cryptocurrencies.

You can download the app for free from Google Play or AppStore.

 

A new feature on WhiteBIT is the launchpad.

Most recently, the launchpad was used for the WhiteBIT WBT token, but in the future there may be more tokens listed here so we recommend keeping an eye on this page if you want to be involved in upcoming projects.

 

WhiteBIT also offers a highly rewarding bug bounty and you can earn up to $10,000 if you identify remote code execution vulnerabilities or programs that are manipulating user balances.

If you have any experience with programming or development, we highly recommend checking out the bug bounty program to see if you can help improve and secure the WhiteBIT network and potentially earn some income.

 

WhiteBIT is a centralized exchange, but there is also a secure DEX (decentralized exchange) with plenty of liquidity pools. The WhiteBIT DEX is called WhiteSwap.

WhiteSwap runs on Ethereum and Tron and is certified by Hacken CyberSecurity Services.

This DEX uses a governance token called WSS to give users voting rights and 87% of assets are distributed amongst the WhiteSwap community.

 

Now that you know more about the features of the WhiteBIT exchange, let’s discuss the instruments you can trade in more detail:

 

Product offering

 

WhiteBIT currently offers more than 80 crypto trading pairs and you can leverage your trades by up to 20 times.

WhiteBIT is also a popular option for trading a wide range of Futures and there are dozens of stablecoin pairs on offer.

WhiteBIT offers both crypto-crypto pairs, as well as crypto-fiat pairs and you can add instruments to your favourites list to keep track of price movements.

You can easily buy cryptocurrencies directly from the WhiteBIT web exchange or from WhiteSwap. You can also use the mobile app to buy crypto.

To visit the exchange, simply click on “Trade” and choose either “Basic” or “PRO Trade”.

 

You can also click on “Markets” and instantly buy and sell crypto directly from the homepage.

 

Payment methods

One of the most popular methods of buying crypto is peer-to-peer and you can easily trade P2P with WhiteBIT by hovering your cursor over the “trade” tab and clicking on P2P.

The Bitcoin Global P2P platform accepts more than 50 payment methods and over 100 currencies can be used to buy crypto.

Registration is free and you will get a 30-day commission-free trading period when you sign up.

 

Tokenomics

 

WhiteBit recently launched its native platform token with the ticker symbol WBT.

The WBT token will be used to power blockchain projects and it will give higher referral rewards.

This token will also make token holders eligible for free AML (Anti-money laundering) checks and ERC20 token withdrawals will be free.

The total supply of WBT is 400 million and 1 million tokens are available for purchase until the end of August 2023.

WhiteSwap uses the WSS and WSD tokens and these tokens give token holders voting rights on the decentralized exchange.

By holding WSD, you can submit topics to vote for or vote on current topics.

If you don’t own any WDS, you need to join one of the liquidity pools to earn WSS and then stake your WSS to earn WSD.

 

Wallets

WhiteBIT does not currently offer a proprietary wallet, but we recommend linking one of the following wallets to your WhiteBIT account and transferring your assets to your wallet:

Trust Wallet is free to download and use, and supports a total of more than 160,000 coins and digital assets, which can easily be traded and managed directly from the wallet.

Trustwallet is a great option if you’ll be collecting NFTs because you can store them in this wallet.

 

The MetaMask software wallet can be used to conveniently buy, sell and trade cryptocurrencies using the built-in exchange and it allows you to connect directly to a variety of blockchain apps.

 

The Ledger hardware wallet is available in the Nano S and the Nano X models and using Ledger Live, you can buy and exchange over 5,000 coins and tokens. This wallet offers secure offline storage, it is compatible with 50 third-party wallets and can store up to 100 dApps.

 

How to open an account

You can easily create an account with WhiteBIT in a few easy steps.

  1. Launch the WhiteBIT homepage
  2. Click on the “Sign up” button
  3. Enter your email address and choose a password
  4. If you were referred by a friend, enter the referral code in the designated field
  5. Verify your email address and account and submit any necessary documentation
  6. Once your account is verified and approved, you can make your first deposit and start trading!

 

Customer Support

The WhiteBIT customer support team is available 24 hours a day and you can contact them if you need any assistance with your account, using the exchanges, staking or anything else.

You can contact the support team via email and their email addresses can be founded at the bottom of the home page.

We also recommend visiting the FAQ section where you will find detailed step-by-step guides on account management, making deposits and withdrawals, using the native tokens, leveraging your trades, trading Futures and setting up orders.

 

What makes WhiteBIT special

WhiteBIT is trusted by over 3 million crypto traders from around the world.

This is a beginner-friendly exchange that offers dozens of popular trading pairs, high-yield staking plans and a decentralized exchange.

By trading with WhiteBIT, you can enjoy instant, low-cost Peer-to-peer Bitcoin trading, referral rewards and a user-friendly mobile app.

Open your WhiteBIT account today and bring some friends along to claim your referral bonuses!