The WhiteBit exchange is indeed a significant centralized cryptocurrency platform that provides access to trading for traders from many countries. Its compliance with international AML and KYC standards indicates a serious approach to security and compliance with legislation in the field of financial transactions. This is important both for the exchange itself and for its users, as such measures help prevent fraud and protect the interests of traders.

The office in Tallinn, Estonia, and the jurisdiction of the Ministry of Economy and Communications also give the exchange a certain level of transparency and trust in the eyes of traders, since Estonia is part of the European Union and is usually subject to strict regulation in the financial services sector.

Types of orders and WhiteBit futures trading

Here is a selection of tools for a trader! Various types of applications allow you to adapt strategies to different market scenarios and manage risks.

Market Order: An easy and fast way to make a deal at the current market price. It is ideal when it is important for a trader to make an operation immediately without looking at the current order glasses.

Limit Order: Allows the trader to specify the desired price for the transaction. Although it may take longer to execute than a Market Order, this type of order provides more control over the transaction price.

Stop-Market Order: A convenient tool for automatically closing trades at a given price. This helps to minimize losses or lock in profits without having to constantly monitor the market.

Stop-Limit Order: As you correctly said, this is a combination of Market and Limit Orders. After activation, the order becomes a Limit Order with the specified parameters, which prevents it from being executed at an unexpectedly high or low price.

Conditional Market Order: An interesting tool for traders who follow interconnected markets. It allows you to automatically activate an order when a certain price is reached on another instrument, which can be useful for arbitrage or correlation strategies.

This diverse range of tools helps traders effectively manage their trades and adapt strategies to different market conditions.

Types of trade

Spot and margin trading

Spot trading involves buying and selling cryptocurrencies at the current market price, while margin trading allows traders to borrow funds on the exchange to expand their trading opportunities.

With margin trading, traders can make larger trades than their account balance allows, which gives them the opportunity to potentially increase their profits.

For example, 5x leverage for margin trading assumes that a trader can trade with an amount that is 5 times higher than his initial deposit.

Futures trading

Futures trading on WhiteBit allows traders to speculate on the future price of a cryptocurrency without actually owning the underlying asset. Futures contracts are agreements to buy or sell cryptocurrencies at a predetermined price at a later date. Futures trading provides traders with the opportunity to profit from both the growth and fall in cryptocurrency prices, as well as additionally insure against possible losses.

WhiteBit offers futures trading for several cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple and others.

Other features of the exchange

WhiteBit crypto borrow is a service that allows users to borrow digital currencies for a certain period of time and use them for trading. The process of borrowing digital currencies on WhiteBit is simple and involves using funds from the collateral balance to secure a loan. To use the cryptographic feature on WhiteBit, the user must have enough assets on their collateral balance. The loan is granted when the user's assets are transferred from his collateral balance to secure the loan. The commission for borrowing digital currency is calculated from the first second after the start of the loan.

Whitebit Coin (WBT) is a native coin of the Whitechain blockchain, which is part of the WhiteBit ecosystem. The exchange aims to stimulate the mass distribution and popularization of blockchain technologies by introducing the most effective trading and staking tools on the most favorable terms.

Passive income

SMART betting on the WhiteBit exchange is an interesting opportunity for traders and investors to earn passive income by holding assets in a crypto wallet. This process also helps to maintain the functioning of the blockchain network of selected cryptocurrencies.

One of the advantages of SMART betting is its flexibility and the variety of assets available for participation. Traders can choose from over 40 assets, taking into account various parameters such as expected profitability, staking period and minimum/maximum deposit amount.

An important aspect is also the ability to work with several staking plans at once, which allows users to diversify their investments and maximize potential income. Automatic completion of plans and accrual of the received income to the user's balance makes the staking process convenient and transparent.

However, it is worth remembering that, as in any investment strategy, there are risks. Before participating in the WhiteBit betting program, it is recommended to carefully study the conditions and possible risks in order to make informed decisions.

Commissions and fees

The commission system on the WhiteBit exchange is quite flexible and can offer favorable conditions for traders. For example, the standard commission of 0.1% for makers and takers is already quite low compared to some other platforms. The option to reduce the commission to 0.098% for margin trading may also be attractive for traders who actively use this type of trading.

A discount bonus for WBT token holders from 5% to 100% on all trading commissions is really beneficial and can significantly reduce trading costs for users who have this token. This can be an additional incentive for investors to participate in the project and purchase exchange tokens.

However, as you correctly noted, traders should also pay attention to withdrawal fees and the choice of payment methods in order to avoid unexpected additional costs.

Safety 

The WhiteBit exchange is actively working to ensure the safety of its users. An anti-phishing system using a keyword in emails helps prevent fraudsters from trying to impersonate exchange representatives and protects users from potential attacks.

Storing 96% of cryptocurrency funds on cold multi-signature crypto wallets also demonstrates a serious attitude to security. Cold storage allows you to isolate cryptocurrency assets from the network, minimizing the risks of cyber attacks and theft. Multi-signature adds another layer of protection by requiring multiple authorizations to complete transactions, making them more secure.

Such innovative and effective security measures strengthen users' trust in the platform and contribute to its success in the field of cryptocurrency transactions.

Mobile application

The ability to use the WhiteBit mobile app for iOS and Android devices provides a convenient opportunity for traders to be in touch with the cryptocurrency market at any time and from any place. This application allows users to have access to all the main functions and features of the exchange directly from their smartphone or tablet.

The main advantages of using the WhiteBit mobile app include:

Convenience: The mobile application allows traders to perform market operations anytime and anywhere with internet access.

Functionality: All the main functions of the exchange are available in a mobile application that allows traders to make trades, check the market condition, manage their portfolio and much more.

Intuitive interface: Most mobile applications have a user-friendly and easy-to-use interface that allows users to quickly learn functions and interact with them conveniently.

Notifications: The application can send notifications about important market events or the status of trading positions, which allows traders to be aware of events in real time.

Overall, the WhiteBit mobile app is an important tool for traders who value the convenience and accessibility of trading from their mobile device.

Advantages of the WhiteBit exchange

The WhiteBit exchange offers a wide range of services and features for traders, which makes it an attractive choice for both beginners and experienced investors. Here are some key characteristics that make it an outstanding platform:

Large trading volumes and high liquidity: This provides an opportunity for fast and efficient trading on the stock exchange.

A wide range of assets: Support for more than 250 crypto assets and five fiat currencies gives traders a great choice to diversify their portfolio.

Exchange of fiat for cryptocurrency: The convenience of exchanging fiat for cryptocurrency makes the platform accessible to a wide range of users.

A variety of order types: This allows traders to choose the most appropriate way to make trades depending on their strategy.

Security: The AAA rating from Hacken confirms the high level of security of the exchange, which is a priority for many traders.

A variety of ways to deposit and withdraw funds: This ensures convenience and accessibility for users from all over the world.

Fixed commission: A low commission of 0.1% facilitates trading on the platform.

Convenient referral program and passive income: These features allow users to earn additional funds by attracting new customers or participating in betting.

Round-the-clock support: Professional support in seven languages provides assistance to users at any time of the day.

Educational resources: Providing training information and an academy helps beginners learn the basics of crypto trading and start a successful career in the cryptocurrency market.

These factors make the WhiteBit exchange an attractive choice for traders, and it continues to be one of the leading platforms in the world of crypto trading.

Disadvantages of the WhiteBit exchange

These additional details help to better understand the limitations and features of the WhiteBit exchange:

Verification for working with fiat: The requirement of verification for working with fiat funds increases security and compliance with anti-money laundering (AML) and customer identity verification (KYC) rules.

Access restrictions in some regions: This may be due to regulatory requirements or other restrictions imposed in certain countries or regions.

Communication with support via the website and email: Despite the absence of a telephone line, the availability of support via the website and email provides the opportunity to solve problems and answer users' questions in a timely manner.

Given these factors, users can make informed decisions about their participation on the WhiteBit exchange, taking into account their individual needs and limitations.

Support Service

The Whitebet support team works around the clock and seven days a week, which ensures maximum accessibility for users in solving any questions or problems. A variety of communication channels, such as e-mail, telephone and exchange chat, make communication with support convenient for users from anywhere in the world.

In addition, the presence of the "Help Center" section is an important additional resource for users who are looking for answers to their questions directly on the exchange. This helps to get information quickly and can significantly save time for both users and the Support Service.

All these tools provide users of the Whitebet exchange with a high level of service and support, which is an important aspect in the dynamic world of cryptocurrency trading.

Conclusion

The WhiteBit exchange really provides ample opportunities for trading cryptocurrencies, attracting both beginners and experienced investors due to its simplicity, reliability and ease of use. The presence of more than 2 million active users indicates its popularity and trust among the trading community.

The pleasant and intuitive interface of the exchange facilitates the process of trading and searching for the necessary information, which significantly improves the user experience. Due to official activities and compliance with legislative regulations, WhiteBit customers can feel protected from possible problems with the law in the field of cryptocurrency trading.

The availability of a mobile application for iOS and Android devices expands the availability of the exchange, allowing users to trade cryptocurrencies anytime and anywhere with Internet access. This is an additional advantage for those who prefer mobile trading or want to keep up to date with market developments in real time.