What is WhiteBIT?
WhiteBIT is a centralised crypto‑fiat exchange with Ukrainian roots and registration in Lithuania. The WhiteBIT ecosystem also includes the WhiteSwap DEX, the Bitcoin Global P2P trading platform and the Whitepay crypto payments system.
The platform supports spot, margin and futures trading, as well as the Crypto Deposit—a tool that lets users earn passive income by holding funds on the exchange.
The exchange currently serves more than 3.5m active clients across 150 countries.
Who founded WhiteBIT, and when?
Entrepreneur Volodymyr Nosov founded the exchange in 2018. Before moving into crypto he ran a flooring business and headed Viva Parquet.
Nosov is WhiteBIT’s chief executive and also the creator and host of the YouTube show on cryptocurrencies and finance, Gagarin Show.
How does WhiteBIT safeguard client funds?
WhiteBIT keeps 96% of users’ digital assets in multisignature cold wallets. The platform also has an insurance fund, replenished from transaction fees. At the time of writing, it covers assets worth $30m.
User accounts are protected by anti‑phishing tools. The exchange supports two‑factor authentication and uses a web application firewall (WAF) to defend against network attacks.
WhiteBIT complies with standards set by the Financial Action Task Force (FATF).
The exchange automatically analyses deposit addresses in line with anti‑money‑laundering (AML) procedures. In addition, users can independently check a cryptocurrency address for links to illicit activity.
According to a Hacken audit from February 2022, WhiteBIT ranks among the top three exchanges for security, with an AAA rating.
What is in the WhiteBIT ecosystem?
The WhiteBIT ecosystem includes the centralised exchange, as well as:
WhiteSwap — a decentralised exchange on Ethereum, Polygon and Tron;
Whitepay — a SaaS company that provides crypto solutions for business and charities: crypto acquiring, POS terminals and payment pages. Whitepay supports 130 cryptocurrencies and several fiat currencies;
Bitcoin Global — a P2P platform for trading cryptocurrencies for fiat or WhiteBIT codes;
Gagarin Show — an entertainment YouTube show about cryptocurrencies and finance. Guests often include blockchain specialists, traders and influencers.
What trading is available on WhiteBIT?
The exchange offers:
crypto exchange — buying and selling cryptocurrencies at the market price;
basic trading — spot trading with market and limit orders;
professional trading — spot tools with additional order types: stop‑limit, stop‑market, OCO (One Cancels the Other);
margin trading — buying and selling with leverage of up to 20x;
futures trading — buying and selling perpetual BTC futures contracts.
In addition, ecosystem participants can swap cryptocurrencies on the WhiteSwap DEX or the Bitcoin Global P2P platform.
How to earn passive income on WhiteBIT?
To earn passive income, go to the Crypto Deposit page, choose an investment plan and fund a deposit. For this tool, the exchange offers yields of up to 30%.
Each investment plan has minimum and maximum deposit amounts.
Once created, deposits cannot be topped up. They can be closed early; however, in that case you will not receive profit under the Crypto Deposit programme.
How is WhiteBIT evolving?
In late 2021 the exchange entered into a strategic partnership with the Ukrainian mobile operator lifecell. WhiteBIT and lifecell clients can link mobile numbers to exchange accounts, allowing cryptocurrency transfers with users from their contact lists.
In February 2022 WhiteBIT signed a partnership agreement with FACEIT, a competitive platform for multiplayer online games.
In March the exchange announced an integration with Ukraine’s state services portal Diia. Thanks to this, identity verification on WhiteBIT for users from Ukraine takes less than a minute. To pass it, users need to press the corresponding button in the Diia app and confirm the transfer of copies of digital documents.
In early April WhiteBIT signed a memorandum of cooperation with Ukraine’s Ministry of Foreign Affairs. The exchange helps the consular service in the countries where the company has offices—supporting the ministry’s crisis centre and a 24/7 call centre to assist Ukrainian citizens who left the country because of Russia’s invasion.
In addition, the Whitepay platform organised cryptocurrency fundraising to help Ukraine. As of mid‑May 2022 the initiative had raised more than $360,000.
