Discovering Whitebit: Key Features

Whitebit is a universal platform for trading and exchanging cryptocurrencies. In addition to basic operations, there are spot and margin operations. On this exchange, you can trade Bitcoin, Litecoin, Ethereum, Ripple, DASH and other altcoins. Below is detailed information about Whitebit exchange, the possibility of investing in a blockchain project with interest payments, referral programs, mobile applications, etc.

Whitebit is a classic crypto exchange, specializing mainly in the exchange of cryptocurrencies. Trading functions are implemented at a good level. The platform provides clients with the opportunity to:

1. Trade cryptocurrency on the spot market with different trading interface options;
2. Quickly convert cryptocurrencies through a built-in exchange without a trading interface;
3. Directly exchange assets on the Bitcoin Global P2P platform from Whitebit;
4. Swap on WhiteBIT DEX, without registration, verification and deposit.

Getting to know the Whitebit exchange conditions

Whitebit has a low minimum deposit of 0.0005 BTC or the equivalent amount in any other cryptocurrency and coin. Whitebit offers the opportunity to trade with a leverage of up to 1:10 for margin trading. You can enter the amount you choose from your card or other cryptocurrency wallets into your account. Please note that some assets incur a deposit and withdrawal whitebit fees. 

Spot Trading on Whitebit

Spot trading on the Whitebit exchange is available in two interface options: for beginners and experienced traders. Depending on your experience, you can choose:

• Basic trading. It has a simpler and more intuitive interface, especially in terms of opening an order, as well as fewer customization options.
• Professional trading. In this mode, the emphasis is on the chart window and market depth, and all information that is not important for the trader is hidden.

Margin Trading on Whitebit

Margin trading differs from spot trading in the ability to trade with leverage by trading assets rather than futures or other derivatives. To make a margin trade, just switch to the margin trading mode in the professional interface for traders.

Whitebit crypto deposit

You can put BTC, ETH, USDT, XRP, SOL and 20 more current coins on your Whitebit deposit at interest. The number of loans from different assets is unlimited, as is the duration of the deposit security.

Subaccount

These are separate accounts (up to 10 in total) linked to the main balance, which allow you to manage investment portfolios safely, test strategies and train new traders.

Whitebit Token listing

This does not only mean the classic placement of cryptocurrency assets on the stock exchange. New projects are allowed to raise funding through Launchpad.

P2P platform Whitebit

P2P exchange is a direct exchange of assets between users, without an intermediary in the form of an exchange. P2P platforms work with exchange guarantees and fast orders. On WhiteBIT P2P the service is provided by a separate Bitcoin Global platform, on which you need to register, but Whitebit itself supports this platform.

Whitebit Exchange has the highest level of security. In addition to licenses and supervision by auditors, there are also:

1. Two-factor authentication (2FA).
2. Anti-phishing mechanisms.
3. Identity verification procedures and compliance with anti-money laundering (AML) standards.
4. 96% of stock market assets are stored in cryptocurrency cold wallets.
5. Automatic logout when inactive.
6. Remote monitoring of active sessions of connected devices.
7. Whitebit provides a US$30 million insurance fund designed to protect users’ assets from force majeure events.

Whitebit offers a referral program, to participate in which you need to register and undergo verification, and then go to the “Referral Program” section. By activating the “Get Link” button, you will receive a personal link that you can place anywhere without restrictions to attract potential clients.

Every user who follows your referral link will become your partner. As soon as the user starts trading, you will receive an income that is 50% of the referral’s trading commissions. You receive income from each partner as long as they work on the platform. Payments of received income are made on the first day of the month.

Whitebit technical support is available 24 hours a day, every day of the week. Support is provided in all languages ​​into which the website is translated. Technical support is available in the chat, where you need to indicate your nickname and email. It is also possible to create a ticket in the system on the website. Support helps quickly and on any issue.

Currently, Whitebit works with users from more than 150 countries, and the exchange’s interface is available in 10 languages. Please note that there are countries where exchange is not available. These include Afghanistan, the USA, Iran, Libya, North Korea, Transnistria, the Republic of Sudan, the Russian Federation, etc. The full list of unsupported countries can be found when registering on the exchange.

Advatages

Disadvantages

Trading for beginners, spot and margin, P2P exchanger, as well as a free multi-currency account;Bitcoin, dozens of altcoins and tokens, 10 fiat currencies including US dollars and euros;Large trading volumes, high liquidity;Many ways to deposit/withdraw funds, such as electronic wallets, bank cards and transfers;Commission 0.1% of the transaction amount, without additional commissions and fees;Multi-level security system.

There is no advanced training except for Crypto Lending.

To avoid serious mistakes, you need to learn how to interact with digital assets. Let’s look at some cryptocurrency trading strategies that will suit users of the WhiteBIT crypto exchange.

Day trading

In day trading, you have to buy and sell cryptocurrencies in one day. With a focus on immediate profits, day trading can be useful for experienced traders who are looking for the fastest trading option on the Whitebit exchange.

Hedging

Hedging is a form of risk management, whether it be an instrument or another trading strategy. For example, you don’t want to buy just one cryptocurrency but want to diversify your investments across different types of assets, both digital and traditional. Hedging tends to open positions to offset potential losses from other open positions. This trading strategy is more suitable for people who are no longer new to cryptocurrencies since you will have to have a good understanding of what you are doing to complete all the steps on time and thus avoid losses.

Holding

This means holding assets on your balance sheet rather than trading them. Why do traders choose this strategy? Because they believe in the potential increase in the value of a given asset. Holding does not require much effort but rather provides the opportunity to earn money using cryptocurrency simply by holding it on your balance sheet.

Trend trading

Trend trading involves analyzing the current trend of the market and adopting a suitable trading position to take advantage of the observations. Profit can be made both during an upward trend and when the cryptocurrency moves downward on the chart. Difficulties can arise in predicting when the price of an asset will rise and when it will fall. This strategy will not work without at least minimal analytical skills.