WhiteBIT Reviews 2025 - Is It Safe?
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.
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 February 2025, WhiteBIT is the largest centralized cryptocurrency exchange in Europe. The exchange supports over 325 cryptocurrencies and 9 fiat currencies. It supports 540+ spot pairs and 180+ futures pairs. The exchange is available in 190 countries and has over 8 million users. WhiteBIT’s ecosystem has over 30 million users and has 33+ million monthly web and app visits. WhiteBIT’s ecosystem includes Whitepay, Whitechain, White Market, WhiteEx, GnCrypto, and other projects. 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, Russia, Ukraine and Belarus.
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 (over 1,200 people) are not hiding and show their names and faces eagerly makes WhiteBIT look legit. Moreover, WhiteBIT operates in 7 offices across Ukraine, Turkey, Georgia, Portugal, Lithuania, Australia, and the United Kingdom. Like most cryptocurrency exchanges, WhiteBIT has a referral program that allows users to earn via inviting other people to join the platform.
WhiteBIT has 1,300+ institutional partners. It's officially partnered with FC Barcelona, ESL Faceit, VISA, and others including the National Football Team of Ukraine, FC Trabzonspor, and more. Also, WhiteBIT has donated 456 million UAH to charity.
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. One centralized exchange interface includes margin trading platform, peer-to-peer exchange, quick swap service (called "Exchange"), and a decentralized exchange, too.
The exchange interface provides enough features for full-fledged trading, including margin trading with up to 10x leverage. WhiteBIT’s annual trading volume is $2 trillion. Users can also 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. The interface also allow traders to use indicators, see candlestick charts, and a market depth graph.
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 325 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).
Fees
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.
✨Learn about our advantages✨
— WhiteBIT (@WhiteBit) November 24, 2021
📌 the highest interest rates for HODLing digital assets (up to 19% APR); pic.twitter.com/Oim4pWZo3y
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.
I was previously scammed by several hackers claiming to offer credit repair and BTC recovery services. They kept asking for money without delivering any results. However, after discussing my situation with a colleague, I was referred to Madam Lisa Elizabet. She was able to remove all the negatives from my credit report in less than 7 business days, add positive trade lines, and increase my credit score from 4740 to 8078. My FICO score also improved to the 790s. Additionally, she successfully recovered my BTC wallet, restoring 10000 BTC. I was extremely satisfied with her affordable and effective services. If you need assistance, you can contact her via email at lisaellzabet662@gmail.com or on WhatsApp at +1 310 658 0921. Cheer
KYC went super fast for me, no issues at all! Not sure why some people mention problems cs everything worked smoothly on my end. The app runs great, transactions go through really quickly despite the blockchain network, and fees are solid. Plus, support responds instantly, which is a huge plus for me. Overall, great experience! 🚀
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.
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!
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.
