WhiteBIT Review – Is WhiteBIT a Scam or a Legit Broker?

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WhiteBIT is a licensed cryptocurrency exchange that allows its clients to invest in cryptocurrencies through a variety of trading platforms.

Take, for example, the in-depth WhiteBIT exchange evaluation.

The first thing that those who are new to trading or are just starting started will notice is that there are a variety of exchanges to choose from, each with its own set of characteristics that are worth exploring. It is one of these possibilities to use WhiteBIT, which is an investment broker that caters to beginners who wish to buy and sell currency pairings without having to deal with a boatload of complicated terms and restrictions.

Website of WhiteBIT

WhiteBIT Review – Is WhiteBIT a Scam or a Legit Broker?

Trading commissions

WhiteBIT charges a trading fee ranging from 0.10 percent to 0.15 percent. Given that the majority of other cryptocurrency exchanges charge between 0.20 percent and 0.25 percent, this is a competitive rate in the marketplace. In order to place an order on the Live Trading website, you must first determine the exact amount of fees that you will be required to pay.

You can also find lower-fee trading pairs for some cryptocurrencies on the Deposit Address page, next to each cryptocurrency’s ticker symbol, or on the Live Trading page, if an order has already been placed, so you can see how much it costs to trade.

Security

Due to recent security breaches on major exchanges, investors are looking for low-risk investments. A full reserve is unbeatable, and WhiteBIT is doing everything it can to prove it. If you want to get your money back from this trading company, you’ll only be able to do it through their exchange platform, which holds 96% of all assets in cold storage (offline). Whenever sensitive data is collected, it is immediately encrypted before being stored in a protected offline storage area ”in secure vaults”.

Customers may utilize WhiteBIT’s safe and secure trading system because it uses cutting-edge technologies like biometric authentication and multi-factor security to protect their accounts. This makes it impossible for hackers to gain access to their accounts.

Staking SMART

It lets people do SMART Staking with WhiteBIT. Their account balance can grow by as much as 30% each year, with no risk involved. Deposits must be made, and the amount differs for each cryptocurrency and may be seen within user dashboards.

WhiteBIT lets users deposit any amount of money into their account. Then, the user chooses how long the money will stay there. Once service period expires, the currency will return to its original worth plus an amount defined by the staked coin and the length of time the coin has been held (for example, if you invest $100 in Lite coin and retain it for one month, you will earn 115$). If the fund aren’t staked, they can be withdrawn right away. When they are staked, they aren’t able to be withdrawn at all.

KYC (Know Your Customer) Registration

You can verify your identity using the WhiteBIT mobile app, which is available for download on the App Store and Google Play. Simply download it, click to KYC, complete the registration process, submit a photo with an identity documentation, and allow time for an e-mail validation. A confirmation email will be sent to let you know that your membership has now been enabled once they have verified your documents. From this point forward, you will have complete access to the platform’s capabilities. WhiteBIT has the right to terminate any business dealings with users who fail to provide necessary details during signup or KYC.

Conclusion

In WhiteBIT, a bitcoin exchanges that simplifies the process of buying and selling cryptocurrencies, you may purchase and sell cryptocurrencies. With a user-friendly trading terminal and mobile application, trading is now considerably more accessible to the general public.

Even though technically proficient traders have access to an abundance of trading resources, the maximum leverage available is a meager 5x. Traders have a range of order types at their disposal, including limit orders, market orders, and stop-loss orders.

People who want to trade with real money can practice with a “trial token” before they start trading with real money. Demo tokens can also be used to generate income for traders; the process is straightforward because they trade in the same way as regular tokens.

Without a doubt, the most crucial feature of WhiteBIT is its security: two-factor authentication, SSL encryption, offline storage, and DDOS protection, to mention a few. Furthermore, everything is designed to thwart hacking attempts at all costs.

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