Whitebit Exchange Review

WhiteBIT is a crypto-to-fiat exchange offering over 150 trading pairs. They hold a European Exchange and Custody license and state that they meet all KYC and AML requirements. The exchange operates in more than 190 countries and claims to have over 300,000 users. With regards to security, they state that 96% of their crypto assets are held in cold storage and they use WAF, 2FA, and anti-phishing software to protect users and their crypto.

Deposits are accepted in a variety of formats, including via Visa and Mastercard. WhiteBIT offers low trading fees even for those working with a small amount of capital. They promise fast deposits, withdrawals, and order book performance.

Although WhiteBIT is a platform with a global reach, their primary focus has been on European and CIS markets.

In July 2020, WhiteBIT added margin trading to their platform, making them the first to offer an advanced margin trading terminal in the CIS market. This terminal promises to offer up to X25 leverage, although at launch it allowed only X5.

WhiteBIT also offers staking, and has a referral program.

In press releases, WhiteBIT claims to have a team of 100 crypto experts, though their team page on their website only highlights three team members: the CEO, CFO, and CMO.

As of mid-April 2021, WhiteBIT was one of only two centralized exchanges offering SafeMoon. SafeMoon is a relatively new token which has been the subject of intense interest. As of this writing, users looking to purchase the token would have to use WhiteBIT, BitMart, or the decentralized PancakeSwap.