Introduction
Whitebit is a cryptocurrency exchange platform that has been designed to provide users with a secure and reliable trading environment. It is a multi-asset platform that offers a wide range of services for traders, including margin trading, spot trading and OTC trading. Whitebit also provides a host of features and tools to help users optimize their trading strategies. Additionally, the platform is user-friendly and provides a simple, intuitive interface for anyone to use. With its advanced security protocols and dedication to quality customer service, Whitebit is quickly becoming a top choice for traders looking for a secure and reliable trading experience.
06/14/2022
AdvancedTrading and investment
AdvancedTrading and investment
What is Whitebit?
white bit is a centralized crypto-fiat exchange with Ukrainian roots and registration in Lithuania. The WhiteBIT ecosystem also includes the WhiteSwap DEX, the Bitcoin Global P2P trading platform, and the Whitepay crypto payment system.
The platform supports spot, margin and futures trading as well as SMART staking – a tool that allows you to receive passive income for keeping funds on the exchange.
Currently, the exchange serves more than 2.5 million active clients from 150 countries.
Who created WhiteBIT and when?
The exchange was created by entrepreneur Vladimir Nosov in 2018. Before moving into the crypto industry, he ran a flooring business and ran Viva Parquet.
Nosov is the CEO of WhiteBIT and is also the creator and host of a YouTube show about cryptocurrencies and finance. Gagarin Show.
How does WhiteBIT ensure the security of client funds?
WhiteBIT stores 96% of users’ digital assets in cold multisig wallets. In addition, the platform has an insurance fund, which is replenished by contributions from transaction fees. At the time of writing, he insures assets for $30 million.
User accounts are protected by anti-phishing programs. The exchange supports two-factor authentication and uses a Web application firewall (WAF) to protect against network attacks.
WhiteBIT complies with the standards of the International Group on Combating Money Laundering (FATF).
Exchange automatically analyzes addresses from which customers make deposits, in accordance with anti-money laundering (AML) procedures. In addition, on the platform website, users can self check cryptocurrency address for involvement in illegal activities.
According to Audit Hacken dated February 2022, WhiteBIT is in the TOP 3 security exchanges with a AAA rating.
What is included in the WhiteBIT ecosystem?
The WhiteBIT ecosystem includes a centralized crypto exchange, as well as:
- whiteswap — a decentralized exchange on Ethereum and Tron with a WSD governance token. Its holders can vote for decisions on the development of the protocol;
- white pay — SaaS company that provides crypto-currency solutions for business and charity: crypto-acquiring, POS-terminals and payment pages. Whitepay supports 130 cryptocurrencies and several fiat currencies;
- Bitcoin Global — P2P platform for trading cryptocurrency for fiat or WhiteBIT codes;
- Gagarin Show is an entertaining YouTube show about cryptocurrencies and finance. The guests are often blockchain specialists, traders and influencers.
What types of trading are available to WhiteBIT users?
The exchange presents:
In addition, ecosystem participants can exchange cryptocurrency on a decentralized exchange. whiteswap or P2P platform Bitcoin Global.
How to earn passive income on WhiteBIT?
To receive passive income, you need to go to the page SMART staking, choose an investment plan and deposit funds. For this instrument, the exchange offers a yield of up to 30%.
Each investment plan has a minimum and maximum deposit amount.
Once created, deposits cannot be replenished. They can be closed ahead of time, but in this case you will not receive profit for SMART staking.
How is WhiteBIT developing?
At the end of 2021, the exchange entered into a strategic partnership with the Ukrainian mobile operator lifecell. WhiteBIT and lifecell clients can link mobile numbers to exchange accounts, which allows them to exchange cryptocurrencies with users from their contact list.
In February 2022, WhiteBIT entered into a partnership agreement with competitive multiplayer online gaming platform FACEIT.
In March, the exchange announced its integration with the Ukrainian public services portal Diya. Thanks to this, identity verification on WhiteBIT for users from Ukraine takes less than a minute. To pass it, you need to press the appropriate button in the Diya application and confirm the transfer of copies of digital documents.
In early April, WhiteBIT signed a memorandum of cooperation with the Ministry of Foreign Affairs of Ukraine. The exchange helps the consular service in the countries where the company’s representative offices operate – it supports the anti-crisis center of the Ministry of Foreign Affairs and a round-the-clock call center for consultations with Ukrainian citizens who left the country due to the Russian invasion.
In addition, the Whitepay platform organized a fundraiser in cryptocurrencies to help Ukraine. As of mid-May 2022, the initiative has raised over $360,000.
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Conclusion
Whitebit is a cutting-edge cryptocurrency exchange that offers an array of features designed to meet the needs of traders from all levels of experience. It is user-friendly, secure, and offers a wide range of trading options, including spot, margin, and perpetual trading. With a strong team and a clear roadmap, Whitebit is positioned to become a major player in the cryptocurrency industry.
FAQ
What is Whitebit?
Answer:
Whitebit is an advanced digital asset exchange that provides traders with an intuitive and secure platform to trade a wide range of cryptocurrencies. Whitebit was founded in 2019 and is registered in Estonia, providing clients with a secure and reliable trading experience. Whitebit is a member of the European Crypto Association, and provides users with features such as advanced charting tools, margin trading, and a wide range of supported coins and tokens.
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