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Whitebit Review

Suitable crypto trading platform for beginners with an abundance of features and low trading fees. But it may not suit advanced traders seeking high-leverage products.

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Our Take

4.0 / 5
HedgewithCrypto Score We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.

Bottom line:

Whitebit is a simple-to-use cryptocurrency exchange that is designed for retail investors and traders. It facilitates crypto trading in the spot, margin, and futures markets with up to 20X leverage with competitive trading fees in line with other industry players. For crypto investors, there are options to earn passive income by leveraging Whitebit's earn products like crypto lending and borrowing digital currencies, which is a great add-on.

However, compared to other popular crypto exchanges like Binance and Kraken, the crypto exchange offers a limited crypto library. There isn't non-fungible token (NFTs) trading, has low leverage for futures trading, limited Earn products, and has no phone support for customer queries. These drawbacks may be a dealbreaker and should be weighed up.

  • Trading Fees:


  • Currency:

    USD, GBP, EUR, AUD, CAD, NGN, and others

  • Country:

    Worldwide (USA not allowed)

  • Promotion:

    None available at this time

Pros and cons

  • Leverage trading for spot, margin, and futures markets
  • Low trading fees
  • Supports staking and borrowing
  • Limited number of coins
  • No NFT marketplace

Pros Explained

  • Leverage trading for spot, margin, and futures markets. Serious crypto traders will have ample markets to trade crypto with spot margin, and futures trading available. There is no need to use multiple exchanges as traders will be able to buy, trade and sell crypto all on one platform. However, its 20x leverage is still significantly lower than competing margin trading exchanges like Binance and Bybit.
  • Low trading fees. Whitebit trading fees are pegged at 0.1%, which aligns with the cheaper exchanges in the market. This is advantageous for retail traders looking for competitive fees, with further discounts available through its WBT token.
  • Supports staking and borrowing: Whitebit offers other value-added services through its Earn feature. On this, investors can stake their crypto assets for rewards and also borrow against them. This is a great option for investors seeking passive income without actively trading the market making it a well-rounded platform to consider.

Cons Explained

  • A limited number of coins. Whitebit supports only 270+ crypto assets, which is quite limited compared to competitor platforms. Therefore, those who are looking to invest in altcoins may not find what they are looking for on Whitebit and will need to consider other platforms.
  • No NFT marketplace: The European exchange does not support non-fungible token (NFT) traders to mint and sell their digital collectibles. This was quite disappointing, given that most exchanges offer NFT trading as a key part of their services.

Whitebit Compared and Alternatives



0.1% (spot) and 0.02% / 0.04% (Futures)

We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.8 / 5

Up to $100 welcome bonus

Visit Binance Binance Review
Bybit LogoByBit

331 (608 trading pairs)

0% (spot), 0.06% / 0.01% (futures)

We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.8 / 5

0% trading fees for 30 days (spot only)

Visit ByBit ByBit Review
MEXC Global ExchangeMEXC Global Exchange


Spot: 0% (maker) / 0.2% (taker), Futures: 0.02% (maker) / 0.06% (taker)

We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.3 / 5

10% discount on trading fees

Visit MEXC Globa… MEXC Global Exch…

WhiteBIT Exchange At A Glance

Launched in 2018, Whitebit is one of the top European cryptocurrency exchanges in the emerging industry. The platform provides a seamless means for investors to buy, sell, and exchange crypto assets with leverage across spot, margin, and futures markets. While there's a lot of spotlight on its basic trading feature, Whitebit offers several crypto-native services, including staking and crypto-lending products. There is a discount token through its WBT asset, a decentralized exchange called WhiteSwap, and a crypto payment gateway via its WhitePay service.

While reviewing the platform, we could not verify the regulatory license Whitebit holds even though the platform claims to be supervised by a European agency. This could be a dealbreaker for many crypto investors.

Exchange NameWhitebit
FeaturesSpot and leveraged trading, crypto loans, WhiteBIT token, WhitePay, WhiteSwap
Accepted Fiat Currencies10+ (USD, GBP, EUR, AUD, CAD, NGN, and more)
Deposit MethodsCrypto, credit/debit card
Supported Cryptocurrencies270+
Number of Trading Pairs400+
Trading Fees0.1%
Customer SupportEmail and live chat bot
Security Measures 2FA, KYC, Login Logs, Transaction Logs
Mobile AppYes (Android and iOS)

Review of the Top Features on Whitebit

Variety of spot and leveraged trading markets

One feature that ranks Whitebit among the best is the basic and advanced trading support. On Whitebit, you can access the spot, margin, and futures markets with a seamless trading experience across its markets with its user-friendly interface and navigation. This makes it an all-around exchange for the modern crypto investor to easily access multiple trading opportunities all in one spot.

In addition, margin, and futures trading come with up to 20x leverage for investors to access advanced trading opportunities. However, its leverage is quite low compared to platforms like Binance, with 125x leverage for its futures contract trading. On the supported markets, they can be easily filtered through the crypto-to-crypto and crypto-to-fiat trading pairs which is convenient. Beginners can also leverage the demo trading feature to learn the ropes using paper money.

whitebit derivatives platform
Screenshot of derivatives trading on Whitebit.

Lend crypto assets

Another medium available to grow crypto profits aside from trading on Whitebit is via its crypto-earn products such as its crypto lending opt-in service. Those wanting to earn a yield on their deposits can loan their supported assets to the exchange for periodic rewards between 0.3% to 24.85% interest at the time of writing. The lending program supports 38 assets such as BTC, USDT, USDC, ETH, XRP, and others. In short, this feature could be a great option for investors keen on generating passive income without actively trading but caution should be exercised before leaving large amounts on a centralized exchange.

Borrow funds with crypto

Another interesting feature of Whitebit is the ability to use available crypto assets as collateral to borrow funds. While not for everyone, users can directly use the borrowed funds to trade, transfer and even withdraw them for other crypto activities. The borrow feature supports 23 top digital currencies, including established brands like BTC, ETH, and USDT.

This is a great option for investors looking to trade in the DeFi marketplace who need fresh capital. However, funds are permanently locked until the borrowed assets are returned, greatly limiting investors' earning potential. In addition, we discovered there is a daily fixed fee of 0.078% for borrowed assets which can add up. Overall, a useful feature but not a strong benefit.

Borrowing MATIC on Whitebit
Borrowing MATIC on Whitebit exchange.

Perks with Whitebit tokens

Whitebit owns a utility token called the WhiteBIT Token (WBT) that powers the WhiteBit ecosystem and can be used to facilitate transactions or pay exchange fees. One of the perks of holding the Whitebit Token is that it can give discounted trading fees. The default fee of 0.1% can be reduced if using WBT to pay the transaction costs.

Makers get between 10% to 100% maker fee discount, while takers get between 5% to 90% taker fee discount which is advantageous for accounts with high trading volumes. Moreover, unlike some other exchange tokens, WBT is not limited to Whitebit only and can be traded on Huobi, Gate.io, and MEXC.

Decentralized crypto swaps

Whitebit has its own decentralized exchange called WhiteSwap to buy, sell, and swap cryptocurrencies without undergoing the know-your-customer (KYC) process. The benefit of trading on WhiteSwap is an account does not need to be created. You can trade crypto anonymously using smart contracts which is similar to some of the best crypto swap platforms we've compared.

It works using an Automated Market Maker (AMM) model to price assets across multiple blockchains which replaces the regular order book on the spot exchange. Overall, it's a nice-to-have in-built tool but there are better crypto DEXs in the market to choose from.

Whitebit swaps
Swapping MATIC for USDT on Whitebit.

Crypto payments solution

WhitePay is a crypto payment solution powered by the Whitebit exchange that allows businesses to accept crypto payments and donations worldwide via the WhitePay to send secure crypto payments with low fees. The feature supports 140+ cryptocurrencies such as BTC, ETH, MATIC, DOGE, USDT, and more. WhitePay is similar to Binance Pay and Coinbase Pay but will not be useful to most people reading this review (unless you have a business).

Whitebit Account and Verification Requirements

Getting started on Whitebit was straightforward. Whitebit account creation requires creating an account using their email and password. Upon registration, there is a mandatory KYC process which is a prerequisite for depositing and withdrawing funds on the exchange. Therefore, those looking to trade on a crypto exchange without KYC will need to elsewhere.

Supported Fiat Currencies and Deposit Methods

Whitebit allows customers to deposit fiat currency directly on the platform which is a major plus. The supported fiat deposit methods are credit/debit cards (VISA and Mastercard) and e-wallet payment services like Advcash and NixMoney e-wallets (through a third-party provider). There are several fiat currencies supported such as USD, CAD, EUR, GBP, AUD, UAH, and others.

Unfortunately, Whitebit doesn't support deposits via bank transfer which is a big limitation. This means it's not possible to sell crypto to a bank account which could be problematic for investors that want to cash out their crypto.

whitebit deposit methods and fiat
Screenshot of depositing funds to Whitebit.

Supported Crypto and Trading Pairs

The Whitebit platform has an impressive collection of 270+ cryptocurrencies and trading pairs. However, compared to bigger exchanges like Binance and Coinbase, Whitebit's crypto asset list is quite limited. For instance, Binance supports 350+ assets and 250+ on Coinbase. Regardless, the supported cryptos include all the major assets by market cap that will be suitable for most traders.

On a deeper look at the spot and futures markets, there were 350+ crypto-to-crypto pairs and crypto/fiat pairs that will provide ample trading opportunities. There are even multiple trading pairs with different fiat currencies on its USDT-margined contracts. But remember fiat profits cannot be withdrawn. In short, there's a reason variety of crypto pairs that makes it a reasonable choice for traders.

Whitebit Fees

Trading fees

The maximum trading fee on Whitebit is 0.1% which is competitive in the market. Moreover, those who hold the exchange's token (WBT token) can benefit from reduced fees. With the token, one can qualify for a 10% to 100% discount (makers) and from 5% to 90% (takers) depending on the monthly trading volume. Similarly, the daily fee for using the margin trading (funds) is 0.098%, while the crypto borrows charge is 0.078%. Overall, Whitebit's trading fees are at the lower end for crypto-to-crypto trading. Here is a comparison of Whitebit's spot trading fee with other exchanges we've reviewed.

ExchangeTrading Fees

Deposit and withdrawal fees

Crypto deposits on Whitebit are free regardless of the asset being deposited. In contrast, crypto withdrawals on Whitebit will incur a charge that varies from coin to coin. For instance, the withdrawal fee for BTC is 0.0004 BTC, and the withdrawal fee for USDT (ERC-2) is 11.47 USDT.

Fiat deposits attract fees that range from 0.2% to 3.5%, depending on the currency and payment method. The withdrawal fee ranges from 1% to 3.5% which is expensive without the option of zero-fee bank transfers and wires. For example, USD deposits and withdrawals via Visa and MasterCard are pegged at 1.5% each for USD Checkout and should be avoided.

Whitebit Exchange Ease of Use

Whitebit has a simple user interface across its website and mobile platforms. The exchange's features are well arranged, with mid-sized menu options for easy accessibility and clarity. During our review, an account was created within 2 minutes and the verification process was also completed in less than 5 minutes.

Trading in the spot and derivatives markets was also seamless such as switching between trading pairs, overlaying indicators, and placing orders. There is a quick exchange, basic, and TradingView interface that can be toggled to simplify the charting or bring up advanced tools.

whitebit spot platform
Screenshot of trading on the Whitebit spot platform.

The futures and derivatives trading platform had a similar feel to it as the spot market with the addition of features such as live price alerts and position size and leverage calculator. Overall, we found the platform was easy-to-use and will undoubtedly meet the basic needs of a crypto trader.

Whitebit Mobile App

Whitebit has a mobile app that is available on Android and iOS devices to download. The app averages 3.75/5 across the Google Play and Apple App Store which is mediocre. The general feedback was positive on the app's ease of use and clean UI interface. However, a few called out the platform for its poor customer service and slow verification process.

Whitebit mobile app
Whitebit mobile app screenshots.

From our testing of the app, the interactions were natural from the initial landing page that shows a snapshot of top cryptocurrencies and a live chart and prices. It is easy to navigate to its primary products such as Lending, Deposit, Markets, and Competition.

As for charting and placing trades, the experience is no different from popular crypto apps with responsive TradingView charting, various crypto indicators, live order books, trade history, and the ability to set price alerts. In short, Whitebit's app did not disappoint and will complete active traders that need to monitor their positions on a 24/7 basis.

Customer Support

Whitebit has a dedicated customer support team that states it is available 24/7 to solve customer issues. Unlike many exchanges, Whitebit lacks mobile phone support but does have live chat and email. The live chat was tested during the review and a customer service representative responded in a few minutes to our question. As for feedback from existing Whitebit traders, the platform has a 3.9/5 star rating on Trustpilot which is reasonable compared to the trend of negative reviews online for other exchanges.

Whitebit Security Measures

Whitebit appears to be upfront about its security infrastructure and claims to be rated among the top 2 most secure exchanges globally by the Hacken independent audit. Some examples of the security features stated include 96% of users' assets stored in cold wallets, a Cryptonet Insurance Fund worth 10 Bitcoin, 2-factor authentication via an authentication app, and login attempt monitoring. Based on our research, Whitebit has never suffered a major exchange hack to date.

Frequently Asked Questions

Is Whitebit a good exchange to trade on?

Yes, serious crypto traders have various markets to trade, with good trading volume and liquidity across the spot, margin, and futures markets. The trading experience is professional with modern crypto charting software and a responsive app.

Is Whitebit allowed in the US?

Whitebit Exchange is a global cryptocurrency trading platform but is not allowed in the United States according to its User Agreement.

How We Rated Whitebit

Atomic Wallet CriteriaHedge With Crypto Rating
Features4.3 / 5
Supported Fiat Currencies and Deposit Methods3.5 / 5
Supported Cryptocurrencies and Trading Pairs3.5 / 5
Fees4.6 / 5
Ease of Use4.6 / 5
Customer Support3.5 / 5
Security Measures3.5 / 5
Mobile App4.5 / 5

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