If you’re exploring options for crypto trading, you may have come across WhiteBIT. It is a popular crypto exchange in Europe and serves millions of users globally. But is it the right platform for you? In this WhiteBIT review, we’ll look into the platform’s core features, security measures, fees, pros, and cons.

Key Takeaways:

  • WhiteBIT is a European-based cryptocurrency exchange offering a range of trading features, including spot markets, margin trading, futures contracts, staking, and lending services.
  • It holds licenses to operate in various countries including Lithuania and Poland, but is not currently available to residents of the United States.
  • WhiteBIT’s fee structure is competitive, featuring a 0.1% maker/taker in spot trading and 0.01% maker and 0.035% taker in futures trading.

WhiteBIT Review: What is It?

Whitebit Homepage

WhiteBIT is a centralized crypto exchange (CEX) established in 2018. Developed in Ukraine, it has become a major player in the European crypto market, with over 4 million users worldwide. WhiteBIT is registered in Lithuania and follows European regulations. It is also the official partner of FC Barcelona.

It offers over 270 cryptocurrencies and more than 350 trading pairs for trading. Popular choices like Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and Dogecoin (DOGE) are available. Additionally, WhiteBIT features its native token, WhiteBIT Coin (WBT), which can be used for various purposes, such as trading fee discounts on the platform.

The exchange goes beyond simply buying and selling crypto. If you are an advanced trader, it provides futures and margin trading. This allows you to leverage holdings. For those who want to earn passive income on their crypto holdings, it also offers staking services. The WhiteBIT app is also available for Android and iOS devices.

Pros of WhiteBIT

  • You can trade with competitive fees as low as 0.1% and even enjoy zero fees during specific events.
  • High-security standards with 96% cold storage and meet AAA rating for reliability.
  • You can deposit and withdraw funds using some traditional currencies (EUR and USD) besides crypto.
  • Advanced trading features like futures, margin, lending, and more.

Cons of WhiteBIT

  • It doesn’t have as many cryptocurrencies or altcoins to choose from as exchanges like MEXC and Bybit.
  • Lower liquidity and trading volume results in price slippage during large orders.
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WhiteBIT Fees

Deposit & Withdrawal Fees of WhiteBIT

WhiteBIT makes cryptocurrency deposits completely free of charge, including popular stablecoins like USDT and USDC. This is a significant advantage for users who frequently add funds to their accounts. 

Each cryptocurrency carries its own withdrawal fee. These fees are dynamic, depending on the network and cryptocurrency. For instance, withdrawal fees are often higher during high network congestion times.

However, be aware that deposits and withdrawals using fiat currencies (USD, EUR, GBP, etc.) may incur fees depending on the payment method you choose.

Here are a few examples:

Payment MethodCurrencyDeposit FeesWithdrawal Fees
Visa/MastercardEUR3.5% (min 0.5 EUR)3.5% (min 0.5 EUR)
ApplePayGBP1.5% (min 0.5 GBP)Variable
Google payUSD3.5% (min 0.5 USD)Variable

You can read the full WhiteBIT fee structure here.

Trading fees of WhiteBIT

WhiteBIT applies a standard trading fee of 0.1% for both takers and makers on spot markets. For futures trading, you incur a maker fee of 0.01% and a taker fee of 0.035%. This is relatively low compared to standard futures trading fees (0.02% maker and 0.06% taker) on most crypto trading platforms.

WhiteBIT also charges a daily interest rate of 0.0585% (subject to change) on the borrowed funds. This means you’ll pay this percentage each day for as long as you hold the margin position.

WhiteBIT Exchange Features Review

Spot, Futures, & Margin Trading

WhiteBIT offers a diverse range of trading features such as:

  • Spot Trading: This is the simplest form of cryptocurrency trading. You buy or sell digital assets at their current market price or set a limit order.
  • Futures Trading: WhiteBIT is also one of the best futures crypto exchanges. You can use up to 100x leverage for trading futures contracts. Both isolated and cross margin modes are available. There are also advanced order types like stop-market, multi-limit, OCO, etc.
  • Margin Trading: This type of trading lets you borrow funds to increase your buying or selling power. WhiteBIT offers margin trading with up to 10x adjustable leverage.
Trading Features On Whitebit

WhiteBIT Token (WBT Coin)

WBT is the native utility token of the WhiteBIT exchange. According to CMC data, it has a total market cap of $854 million. Holding WBT tokens offers a range of benefits to users:

  • Significant trading fee discounts across spot, futures, and margin trading
  • Increased referral commission
  • Free daily withdrawals of certain ERC-20 tokens
  • Participation in Launchpad projects
Whitebit Token Information

WhiteBIT Mobile App

The WhiteBIT app is available for both Android and iOS devices. You can easily manage your portfolio and place trades (spot, margin, futures) while away from your computer. The mobile interface is designed for ease of use and accessibility. You can also easily fund your account or withdraw your cryptocurrency holdings directly within the app. 

Earn Program

  • Flexible and Fixed Staking: You can choose between earning a variable interest rate that changes over time (flexible plans) or locking your assets in for a set period in exchange for a higher, fixed return rate (fixed-term plans).
  • Crypto Lending: WhiteBIT’s lending feature allows you to earn passive income by lending your cryptocurrency holdings to other users. You can earn up to 18.64% interest rate on popular stablecoins like USDT.
  • Launchpad: This enables you to discover and invest in promising new cryptocurrency projects before they are listed on the main exchange.
Earn Program On Whitebit

WhiteBIT Ecosystem

  • Whitechain: It is an EVM-compatible proof of access (PoA) blockchain. It underpins features like WB Soul, offering Web3 services.
  • WhiteSwap: A decentralized exchange (DEX) powered by the Ethereum, Tron, and Polygon blockchains. You can swap, farm, and bridge different assets.
  • WhiteEX: This feature provides physical cards that can be used to conveniently top up (deposit) funds into your WhiteBIT exchange account.
  • WhitePay: A service aimed at businesses, providing tools for cryptocurrency payment processing. This includes solutions like crypto acquiring and point-of-sale (POS) terminals.
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WhiteBIT Supported Cryptocurrencies

WhiteBIT offers over 270 coins and tokens for trading on its platforms. With over 350 trading pairs available, you can find many blue-chip digital assets, such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and many others. Popular stablecoins like Tether (USDT), USD Coin (USDC), and DAI are also available.

However, it doesn’t have that extensive list of supported coins, yet you can still find many tokens in sectors like Metaverse, AI, DeFi, gaming, smart contracts, etc.

WhiteBIT Security: Is It Safe?

WhiteBIT prioritizes the security of its users’ digital assets with safety measures such as:

  • Two-Factor Authentication (2FA): This adds an extra layer of security. It requires a temporary code from your phone or authenticator app. This is in addition to your password when logging in or performing actions like withdrawals.
  • Cold Storage: WhiteBIT stores 96% of digital assets in offline storage. This significantly reduces the vulnerability to hacking attempts.
  • Web Application Firewall (WAF): It utilizes a WAF to detect and block malicious traffic.
  • Identity Verification and AML Checks: The exchange adheres to Anti-Money Laundering (AML) regulations and performs Know Your Customer (KYC) checks to avoid fraud.
  • Withdrawal Address Management: WhiteBIT allows you to whitelist withdrawal addresses. This means funds can only be withdrawn to pre-authorized blockchain addresses.

Note: WhiteBIT has also undergone independent security audits by Hacken (cybersecurity firm). These audits assess the platform’s security posture and identify vulnerabilities. 

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Overview of WhiteBIT Crypto Exchange

TypeCrypto Exchange
Supported cryptos270+ cryptocurrencies and 350+ trading pairs
FeaturesSpot, futures, margin, crypto lending, staking, launchpad, etc.
Fees0.1% maker-taker for spot0.01% maker and 0.035% taker for futures
Payment MethodsSEPA, credit and debit cards, Google Pay, Apple Pay, and more
Mobile AppAndroid and iOS
KYCYes (Mandatory)
Restricted CountriesAfghanistan, the U.S., the Territory of Guam, Iran, Yemen, Libya, the State of Palestine, Puerto Rico, Somalia, etc.
Customer supportSupport ticket and live chat

Setting Up a WhiteBIT Account

Step 1: Create an Account

To get started on WhiteBIT, head to their website and find the “Sign Up” button. You’ll need to enter your email address and create a strong password. Finally, find the confirmation message WhiteBIT sent to your email and enter the verification code.

Create Account On Whitebit

Step 2: Verify Identity

To access all of WhiteBIT’s features, you’ll need to complete the KYC process. You need to provide your ID proof along with your address proof. The verification process can take from a few minutes to a few days.

Verify On Whitebit

Step 3: Deposit Funds

Now, go to the “Deposit” button and choose a fiat currency and payment method. Some of the deposit methods to WhiteBIT are:

  • Credit/Debit cards
  • Apple Pay
  • SEPA
  • Google Pay
  • Advcash
  • PayUnicard
Deposit Money To Whitebit

Step 4: Trade Crypto

Once you’re ready, go to the “Trade” section and choose “Spot”. Now, pick the pair of cryptocurrencies you’d like to trade. Decide how much you want to buy or sell and enter your order.

Trade Crypto On Whitebit


In concluding this WhiteBIT review, it’s clear the exchange offers a mix of strengths and areas for potential improvement. It has remarkably competitive fee structures, an easy-to-use interface, advanced trading features, staking services, and more. 

However, compared to some larger exchanges, WhiteBIT offers a smaller selection of cryptocurrencies. This could limit trading choices for those looking for a variety of niches or newer coins. Additionally, the exchange also has relatively lower liquidity. 

WhiteBIT Exchange Review: FAQs

Is WhiteBIT allowed in the US?

Unfortunately, WhiteBIT is not available to crypto traders in the United States. This is due to the strict regulatory environment surrounding cryptocurrency exchanges within the country. These regulations vary from state to state, and WhiteBIT still needs to obtain the necessary licenses to operate in all US jurisdictions.

Is WhiteBIT regulated?

Yes, WhiteBIT holds a degree of regulation. It’s a licensed exchange operating in accordance with European Union regulations. It is licensed in countries such as Spain, Lithuania, Poland, the Czech Republic, and Bulgaria.

Where is WhiteBIT located?

WhiteBIT is currently located in the capital city of Vilnius, Lithuania. However, it was founded in Ukraine in 2018.

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