WhiteBIT Review – Is WhiteBIT a Scam or a Legit Broker?
Review for WhiteBIT
As a licensed exchange, WhiteBIT enables its clients to invest in cryptocurrencies via many trading platforms. Consider the in-depth WhiteBIT exchange review.
Those who are new to trading or are just getting started will discover that there are various different exchanges to select from, each with its own unique set of features. WhiteBIT is one of such options since the firm is an investment broker geared toward beginners who want to buy and sell currency pairs without having to cope with a slew of confusing terms and conditions.
- Website of WhiteBIT
- Trading commissions
WhiteBIT charges a 0.10 percent to 0.15 percent trading fee. Given that most other cryptocurrency exchanges charge between 0.20% and 0.25percent, this is competitive within the industry. Before you place an order on the Live Trading website, the precise amount of fees you will pay will be displayed.
Additionally, for some cryptocurrencies, there are lower-fee trading pairings available, which you may locate on the Deposit Address page, next to each cryptocurrency’s ticker symbol, or on the Live Trading page, if an order has already been made.
People are looking for low-risk options as a result of recent security breaches on major exchanges. WhiteBIT is trying everything possible to demonstrate that a full reserve cannot be beaten. This trading company’s security platform is attempting to address all vulnerabilities with a single solution: holding 96 percent of all assets in cold storage (offline) and allowing withdrawals only through their exchange platform. All sensitive data, such as usernames, passwords, and IP addresses, is automatically encrypted and saved in a safe offline storage location (in secure vaults).
WhiteBIT provides its users with a trading platform that is protected by cutting-edge cyber security technology like as biometric authentication, multifactor authentication, and encryption of all critical data, including passwords, rendering it fully invulnerable to hacking.
- Staking SMART
WhiteBIT enables users to engage in SMART Staking. The opportunity to earn up to 30% annually on their balance with no risk. The only stipulation is that a minimum deposit be made, which varies each cryptocurrency and can be found in the menu of your dashboard.
The user puts money (in any quantity) into his WhiteBIT account and then specifies the duration of the deposit. Once the time period has gone, it will restore its initial value plus an amount determined by the staked coin and the duration of the holding (for example, if you invest $100 in Lite coin, you will receive 115$ after one month). While the funds are immediately accessible for withdrawal if they are not staked, once they are staked, they are frozen.
- KYC (Know Your Customer) Registration
You can verify your identity by using WhiteBIT’s mobile app from the App Store or Google Play. Simply download it, navigate to KYC, complete the registration process, upload a selfie with an ID document, and wait for them to send you an e-mail confirmation. You will receive an email confirming that your account has been activated once they have confirmed your documentation. From this point forward, you can access the platform’s full capability. WhiteBIT retains the right to terminate any business ties with users who do not submit the required data during registration or KYC.
You can buy and sell cryptocurrency on WhiteBIT, which is an exchange that makes it easy. Trading is made much more convenient for everyone with an easy-to-use trading terminal and mobile application that are both functional and simple to use.
Numerous trading tools are offered to skilled traders with technical analysis expertise; nevertheless, the leverage is limited to 5x, which is insufficient. Traders can utilize a variety of different order types, including limit orders, market orders, and stop-loss orders.
WhiteBIT provides a trial token for traders to practice with before they begin trading with actual coins. Traders can earn money on demo tokens as well — it’s simple, as they trade similarly to normal ones.
The most critical aspect of WhiteBIT is without a doubt its security: 2FA, SSL encryption, offline storage, and DDOS protection, to name a few. Additionally, everything is meant to thwart hacking efforts at all costs.