WhiteBIT logo
WhiteBIT logo

WhiteBIT Reviews 2024 - Is It Safe?

Country: Lithuania
Launched: 2018
Site: whitebit.com
Pairs: 188
Mobile app: iOS, Android
Grade points: 0.00
Expert Review
Nov 26, 2021

Lithuania is one of the leading countries in blockchain adoption. The Lithuanian government was early to pay attention to the potential of this technology and now is actively adopting blockchain-based solutions to everyday life. But apart from governmental initiatives, entrepreneurs go blockchain, too. Today, we will speak about the Lithuanian cryptocurrency exchange WhiteBIT. In this article, we will review the main WhiteBIT features and see if it is easy to launch an account on this exchange and complete the KYC procedure. As security is an important factor while choosing an exchange, we will observe protection measures available on WhiteBIT. We will see if WhiteBIT is a scam or a trustworthy exchange. More than that, we will shed light on the exchange's background, see how high the fees are, and answer other important questions.

  1. What Is WhiteBIT?
  2. Registration and KYC
  3. Main Features
  4. Fees
  5. Is WhiteBIT Safe?

What Is WhiteBIT?

WhiteBIT is a centralized crypto-to-fiat cryptocurrency exchange launched in 2018. The exchange is notable for its wide functionality and strong security. Apart from trading and exchanging fiat money for crypto and vice versa, WhiteBIT users can enjoy such features as margin trading, staking, P2P platform, trading competitions, etc. WhiteBIT claims to have cutting-edge technology that allows quick transactions and matching.

As of November 2021, WhiteBIT is one of the top 50 crypto exchanges by trading volume. The exchange supports over 100 cryptocurrencies. The exchange is available in 190 countries and has over one million users. WhiteBIT is not available for the residents of the American Virgin Islands, American Samoa, Guam, Afghanistan, Iran, Iraq, Yemen, North Korea, Northern Mariana Islands, Libya, Pakistan, Puerto Rico, Palestine, Syria, USA, Somalia, Sudan, Crimea and Russia.

WhiteBIT is AML-compliant and has a lot of partners in the industry. The key figure is CEO Volodymyr Nosov. The very fact that the team members of the exchange are not hiding and show their names and faces eagerly makes WhiteBIT look legit. Like most cryptocurrency exchanges, WhiteBIT has a referral program that allows users to earn via inviting other people to join the platform.

Registration and KYC

To open an account on WhiteBIT you should provide an email and set the password. Then, you will be requested to provide a 4-digit code sent to your email address for confirmation. As soon as you are done with it, you will be able to access WhiteBIT's services.

Access to the full functionality, however, is only possible if you complete a KYC procedure. KYC on WhiteBIT requires you to provide the following data: first name, middle name, last name, the date of birth, gender, a full address including a ZIP code, then the ID number, and a selfie showing your ID documents and your face. As soon as WhiteBIT completes checking the sent information, you will be able to use the platform without limitations.

Main Features

Key features are, of course, ones associated with the exchange of currencies. WhiteBIT offers a wide range of features allowing you to trade or exchange one currency to another, including fiat to crypto pairs. It has several centralized exchange interfaces — basic and PRO trade exchanges, margin trading platform, peer-to-peer exchange, quick swap service (called "Exchange"), and a decentralized exchange, too.

Basic and PRO trading interfaces have different layouts. In terms of functionality, both interfaces provide enough features for full-fledged trading. PRO has some extra features, for instance, margin trading with up to 10x leverage. On both exchanges, users can post numerous types of orders which help to prevent risks. The supported types of orders are market orders, limit orders, stop-limit orders, stop-market orders, stop-conditional orders, and market-conditional orders. Both interfaces allow traders to use indicators, see candlestick charts, and a market depth graph.

Margin trading interface fully or almost fully coincides with PRO Trade. Margin trading on WhiteBIT allows you to earn five times as much without leverage on the same trades. However, it is recommended not to use leverage until you have a strong understanding of the market and solid trading experience as mistakes while margin trading cost much more money.

The Exchange feature allows you to swap one of 16 cryptocurrencies for Euros or Hryvnia, as well as for a number of crypto coins. That's a convenient tool for withdrawing your crypto coins as fiat money or making a quick swap of cryptocurrencies.

The P2P platform on WhiteBIT is called Bitcoin Global. It doesn't require KYC. It is available in 160+ countries. The platform supports over 300 currencies and half a dozen payment methods. This exchange supports fiat-to-crypto and crypto-to-fiat pairs. The use of Bitcoin Global is free of charge for the first month. What makes the platform especially convenient is the ability to customize filters to see only the offers you really need. WhiteBIT serves as an escrow to make sure that everyone involved gets what they want.

Like many other exchanges these days, WhiteBIT added a staking service. The decentralized exchange provided by WhiteBIT is called WhiteSwap. This exchange is based on the Ethereum blockchain. The exchange leans on 9 liquidity pools (Ethereum and stablecoin/stablecoin liquidity pools).


Trading fees on WhiteBIT are very democratic. The platform charges 0.1% from makers and takers. Only a handful of exchanges have smaller trading fees. There is a daily fee for those who use margin trading. This fee is 0,0585%. Swapping coins via the Exchange tab is charged with a 0.1% fee.

As for withdrawal fees, they differ from currency to currency. For instance, the Bitcoin withdrawal fee is 0.0004 BTC which is a bit lower than on most platforms. The Tether withdrawal fee is only 2 USDT. All in all, WhiteBIT has competitive fees.

Is WhiteBIT Safe?

No matter how good the interface is, how many features the exchange has, and how low the fees are. If the exchange cannot provide you with a safe environment where your funds and data will be safe, you risk losing everything you have earned via trading. In terms of security, there are several things to consider before you start to use any crypto exchange. You should make sure that the exchange is not a scam or at least it looks trustworthy. Another thing that you should check is what are the protection measures available on the exchange. If you feel that you cannot trust the platform based on the feedback from the users of the exchange or/and don't find the available security measures enough for safety, you'd better avoid using the exchange you consider and find a better one. 

First, let's dive into the possibility of WhiteBIT being a scam. There are many facts showing that most probably this platform is legit. First off, the team is public. It means that the platform owners are accountable. The next thing is that the exchange follows the laws associated with the crypto industry and doesn't violate like some other exchanges (Binance, etc). If you check the comments section of the official Twitter account of WhiteBIT, you won't probably find comments of users begging to unblock their accounts or complaining that they cannot withdraw their money or enter the account. Such comments are common for exchanges with weak protection or scam platforms. The negative comments on TrustPilot are adequately replied to by the platform reps and it seems that WhiteBIT cares about its reputation and users' comfort and safety. All in all, we cannot claim that WhiteBIT is a scam or is likely to be a scam. Most probably, this platform is legit.

Now let's name the security measures offered by WhiteBIT. You will see that the platform does enough to make your trading journey safe and free of worries. The key protection measure is 2-factor authentication. This measure can be found on most crypto exchanges, although certain platforms prefer not to use such a tool for privacy reasons. 2-factor authentication requires you to install a Google Authenticator app on your mobile device and scan a WhiteBIT QR-code with it. This action will create a token in your mobile app. The token will be generating one-time passwords for WhiteBIT. Each password is valid only for 60 seconds. When 2fa is enabled, no one will be able to enter your account or withdraw money from it without providing a one-time password. Considering the fact that it is impossible to get an actual password without accessing your mobile device, it is nearly impossible to hack your account if it's sealed with 2-factor authentication. That's why we consider this measure a crucial one for your safety.

As for the rest of the security measures, on WhiteBIT you can enable an anti-phishing code that will safeguard your correspondence with the exchange (the messages from WhiteBIT impersonators won't contain this code). Also, in the Security tab, you can always see the info about the visits to your account with IP addresses and other data. You can easily terminate all unauthorized logins in one click.

In general, we should conclude that WhiteBIT seems to be a safe platform. Judging by the user feedback, the main possible drawback is the slow reaction of the support team.

Our Score
Functionality 5 / 5
Reputation 4 / 5
Security 4 / 5
Support 4 / 5
Fees 4 / 5
Our Score
4.2 / 5
Pros and Cons

- Wide functionality
- Low fees


- Slow support team

Write review
Please choose your rating.
Your review

Leave your review about WhiteBIT here. Please note that your feedback may be crucial for the user when choosing a product, so try to avoid inaccuracies and unreasonable criticism.

Your Name
Your Email

Your Email will not be published

User reviews
Michael Smith 18 September 2023

Transitioning from a well-known platform, I'm impressed by WhiteBIT's lightning-fast trade execution. The speed at which orders are processed here is a game-changer, allowing for swift and accurate trading decisions. This efficiency truly sets WhiteBIT apart in the world of cryptocurrency exchanges.

19 September 2023
Thank you for sharing your thoughts with us! We're thrilled to hear about your positive experience with WhiteBIT's trade execution speed. We understand how crucial swift order processing is in the cryptocurrency world, and we're delighted that our platform has met your expectations in this regard.

Efficiency and accuracy are top priorities for us, and it's fantastic to know that you've found WhiteBIT to be a game-changer in the world of cryptocurrency exchanges. We're here to provide you with a seamless trading experience, and your satisfaction is our ultimate goal.

If you have any more feedback or need assistance, please feel free to reach out (support@whitebit.com). We're here to help, and we appreciate your support.
Suzanna Esparza 25 July 2023

I learned from first-hand experience that on WB you get the best and the most secure user experience ever! They claim to store 96% of their client’s assets on cold wallets and have all the necessary certifications to operate an exchange. I faced no issues all the time I traded on WhiteBIT. So I totally recommend it!

31 July 2023
Hi! Thank you so much for taking a moment to appreciate us. It means a lot to us 🫶
Aleksander Whitter 19 June 2023

Quick exchange rocks! Five out of five.
When I need to quickly convert crypto to fiat or vice versa or buy crypto with another crypto, I go to the quick exchange WhiteBIT has on their landing page. It works like a market order but is faster and you see the result immediately in the fields I give and I receive. The transaction takes no time to execute. and the fees are as low as 0.1%. BTW, there are no limits for such exchange transactions, which is good for me.

29 June 2023
Hi! We’re pleased to hear that. Thank you for the feedback 💛
Amanda 14 June 2023

Good pretty and cheap AML
THe AML stands for anti money laundering and helps to filter undesired addresses. Suppose you get into sending money to an address that is spotted as terrorist financing. You wouldn’t want this, right? A 1$ AML check can save you from running into such troubles. I upvote for checking AML, especially if you send a hefty amount.

14 June 2023
Hi! We’re pleased to hear that. Thank you for the feedback 💛
Mark 17 November 2021

Dodgy company, no support, stay away.

23 March 2023
Hi! Please get in touch with our specialists at support@whitebit.com and describe the problem in more detail. They will help.

In addition we would like to tell, than the security and usability of our platform are among our top priorities. WhiteBIT is one of the three safest crypto exchanges, according to CER.live, and is also in second place (with AAA rating) among the most secure exchanges in the world, according to Hacken's independent audit.
Country: Lithuania
Launched: 2018
Site: whitebit.com
Pairs: 188
Mobile app: iOS, Android
Grade points: 0.00
Compare with
HitBTC Cryptocurrency Exchange is a platform created in 2013 that allows you to trade more than 300 cryptocurrency pairs. The platform was launched back in 2013 and the investments it received amounted to about 6 million dollars.
Despite a certain decrease in the popularity and demand for digital coins, many users continue to use them actively. This is favored by the specific features and capabilities of cryptocurrencies. Often there is a need to exchange one type of crypto for another coin. What to do? In this article, we will consider one of the best solutions for the cryptocurrency exchange - Changelly. Is it safe enough and worth trying? Is Changelly legal? Is Changelly scam? All of these questions will be answered in this article. 
SimpleFX is a trading platform supporting different classes of assets including cryptocurrency. The platform was founded in 2014. It is registered in Saint Vincent and the Grenadines.