WhiteBIT Review 2024

Our veredict

WhiteBIT is a centralized cryptocurrency exchange established in 2018, offering a range of services including spot, futures, and margin trading, as well as lending and staking options. Its trading fees are competitively low, with a flat rate of 0.10% for both makers and takers on spot trades. Additionally, WhiteBIT provides robust security features such as two-factor authentication, cold wallet storage, and regular security audits, which contribute to its strong reputation for safety and reliability. This makes WhiteBIT a suitable choice for both beginner and professional traders seeking a secure and cost-effective trading platform.

However, there are some drawbacks to consider. WhiteBIT’s selection of altcoins, while decent, is not as extensive as some competitors, and it does not support deposits via bank transfer. Additionally, the platform’s borrowing feature comes with daily fees that can accumulate quickly, potentially limiting its attractiveness for some users. Despite these limitations, WhiteBIT remains a solid option for users prioritizing low fees and security in their cryptocurrency trading activities.

Pros

1. Competitive Trading Fees: WhiteBIT charges a flat fee of 0.10% for both makers and takers on spot trades, which is lower than the industry average, making it an economical option for frequent traders.
2. Extensive Security Measures: The platform employs advanced security protocols such as two-factor authentication, cold wallet storage, and regular security audits, ensuring the safety of user assets.
3. Diverse Trading Options: WhiteBIT offers a wide range of trading options, including spot, futures, and margin trading, catering to both novice and experienced traders.

Cons

1. Limited Altcoin Selection: While WhiteBIT supports a variety of cryptocurrencies, its selection of altcoins is not as extensive as some of its competitors, which may limit trading options for some users.
2. No Bank Transfer Deposits: The platform does not support deposits via bank transfer, which can be a significant limitation for users who prefer this method for funding their accounts.

Threenvest Score

Fees

0.10% (Maker), 0.10% (Taker)

U.S Legal

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Why choose WhiteBIT?

WhiteBIT is a solid choice for cryptocurrency traders due to its competitive fees, robust security measures, and comprehensive trading features. The platform charges a flat fee of 0.10% for both makers and takers on spot trades, which is lower than the industry average, making it an economical option for frequent traders. Additionally, WhiteBIT offers advanced trading options such as futures and margin trading, with leverage up to 100x, catering to both novice and experienced traders.

Security is a major strength of WhiteBIT, employing measures like two-factor authentication, cold wallet storage, and regular security audits by top-ranked ethical hackers to ensure the safety of user assets. This focus on security helps build trust and reliability among its growing user base, which now exceeds 4 million globally.

Furthermore, WhiteBIT provides a range of services beyond traditional trading, including staking and lending options that allow users to earn passive income. Its user-friendly interface and educational resources make it accessible to beginners, while advanced tools and features support professional traders in optimizing their trading strategies. Overall, WhiteBIT’s blend of low fees, strong security, and versatile trading options makes it a compelling choice for anyone looking to engage in cryptocurrency trading.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend WhiteBIT for its robust security measures and user-friendly interface. Whether you’re just starting or have been trading for years, WhiteBIT’s competitive fees, extensive range of cryptocurrencies, and advanced trading features make it an excellent choice. The platform also offers great opportunities for passive income through staking and lending. With its strong focus on security and regulatory compliance, you can trade with confidence knowing your assets are well-protected.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.