What do you think about WhiteBit exchange?

BitcoinTurk

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Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

Unfortunately, I don't know much about the exchange in question nor have I gained any experience using it. For this reason, it wouldn't be right to make a clearly negative or positive comment about it. However, it would be useful to mention some general information to consider when choosing a cryptocurrency exchange;

- First of all, it is very important for a business that provides cryptocurrency services to store a large portion of its assets in cold wallets because all assets shouldn't be at risk in the event of a possible hack.
- It is also very important to have information about the founder and team of this service. Even though we use this service we shouldn't forget that we are entrusting our money to it. At this point, I would like to remind you that the important thing is to know to whom we entrust our money.
- The community of the service in question is also a very important criterion because unfortunately, it isn't possible to generate transaction volume and gain reputation without the support of a good community.

In summary, it is very important to consider all the factors I mentioned above before choosing an exchange to conduct cryptocurrency transactions. It is essential to ensure not just one of these factors but all of them if possible.

jeraldskie11

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Quote from: synchronym on October 26, 2023, 11:01:47 PM

Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

Many people are not aware about the use of Whitebit exchange, no one knows about its use. This is 100% to protect our assets. Whitebit exchange if you want to keep your assets here you have less chance of loss. Those who are more concerned about their wealth should choose Whitebit exchange.

I recognized the name of that exchange but did not use it. I done some study on the project, and I can say that they are focused on the security of their clients' funds, which is a very smart idea. Users' funds are still frequently lost due to a lack of security in their wallets. However, despite having a high trading volume on a daily basis, this project does not rank among the top ten exchanges on Coinmarketcap. So it is not comparable to Binance, which is a number one exchange, and it offers good security of your assets as well as greater features, which is just what you need.

synchronym

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Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

Many people are not aware about the use of Whitebit exchange, no one knows about its use. This is 100% to protect our assets. Whitebit exchange if you want to keep your assets here you have less chance of loss. Those who are more concerned about their wealth should choose Whitebit exchange.

tjtonmoy

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Centralize exchanges will do their best to keep their assets safe. Not only just cold storage but other things too. That's not the thing you should be worried about. You should be more worried about your own asset's safety. Many people blindly trust centralized exchanges and think that they will give them the maximum security. But when you have no control over your own assets, how can you be so sure? They are using cold storage to keep their share of money safe. Why don't you do the same?

It is their responsibility to keep their client's assets safe. And it is our responsibility to keep our assets safe. If anything happens to the exchange platform, they will blame it on someone else or file a bankruptcy or something like that. Nothing happens to them but those who uses the platform suffers from it.

Never trust everything that exist on the internet. Not your key, not your coins. Keep that in mind and keep your assets safe to yourself. Anything could happen at any point of time with centralized platforms. Keep control of your assets to yourself. If you need to use a centralized platform then use it with caution and withdraw everything when the work is done.

gunhell16

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Before I experienced using it when this exchange is new here in the crypto space, I just got stopped because I didn't have any assets here anymore before. Also, as far as I know, there has been innovation in this platform, and there has also been new management, if I am not mistaken in my understanding.

What I know here is that they launched their own WB network, and they have a QR code to log in; before, they didn't have such a system, and then they have their own apps that can be downloaded on mobile devices that didn't exist before.

Hamphser

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Quote from: ?? on ??

I've spent some time exploring WhiteBit and have a few thoughts to share. First off, the interface is quite user-friendly, which is a big plus for those who may be new to the world of crypto trading. The platform offers a variety of trading pairs, including major cryptocurrencies like Bitcoin, Ethereum, and many others. It even provides fiat options for those looking to trade with traditional currencies.

First, I dont know on whats your main reason on why Bumping up an old thread on which its already that almost a year for it to have its last response? This kind of step is already that necrobumping which it is really just that against on forum rules or something that not really that recommended on doing so.Therefore, you should really be not or refrain on doing such thing if you dont like for some
potential problem later on.

Second, this platform isnt heard of even back into those early years or 2 years ago on which there's no way that i would really be touching up places on which im not that familiar.
Stick with the best and known ones on which you would really be able to make yourself that fully aware on how things should really touched up and sticking with reputable
could really be saving up your ass into those potential problems which you might be able to face on dealing with unknown places.

Nrcewker

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Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

No matter what attractive offers it provides, if the exchange isn’t popular or hasn’t got enough reputation, then it will be better to completely avoid the exchange. Now positive reviews can be bought on review sites, but people in a forum or community won’t lie at all. I am not saying anything bad against the exchange, but as long as there are trustworthy exchanges present, why to move to a new one? It’s just a little suggestion. I haven’t tried the exchange mentioned in the OP, so it’s upto you what you wanna do with it.

retreat

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Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

I didn't know about this exchange until you made this thread. But from what I see, WhiteBit is the same as other exchanges in that it offers security and convenience which is often stated by centralized exchange platforms. I don't know its security or features, if you are confident with this exchange you can try it. But for me personally I will not use this exchange.
And from their website, they say that they are the official crypto exchange from Barcelona, well this is pretty cool too, but it doesn't indicate that this exchange is credible.

benalexis12

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Quote from: Nevsky on September 09, 2019, 01:45:02 PM

What do you think about WhiteBit exchange? please share your experience - is it secure? I heard 96% of all assets are stored on cold wallets.

Previously, if you used that, you could withdraw there even if you didn't pass any KYC. After a few months, they suddenly had a change in their policy that required you to pass KYC on their platform. You cannot trade using their platform if you are not verified.

That exchange is a mess because they won't allow you to do trading activity, but you can make a deposit. It seems like their policy is not good it's like they're a trap for newbies who will use their platform.

SergiGeorgia

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I have 2 years experience of trading and using @WhiteBit.They Just signed a partnership with Barcelona, which makes me very happy cause it will make the exchange more popular and affect their native token (In which I am investing). As far as I know, WhiteBIT ranks among the safest CEXs - but what matters is that they passed the practical test as well - when the war in Ukraine broke out, they underwent a bank run and emerged intact. Reading comments on this topic from two years ago, I see how much they have improved and how much potential they still have

Rux

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Quote from: blurryeyed on March 18, 2020, 09:46:51 AM

Whitebit is a known scam - do a search in the scam section.

Well this didn't aged well...

After reading some of the accusations in 2021, after i have been in contact with many of the WhiteBIT staff.

I can only say, positive and hard working staff, this is coming from a guy who traded on Mt.GOX and all other "oldschool" exchanges.

I can only say WhiteBIT is real deal, especially because they are relative new exchange, but only fool can ignore their progress on developement and tools they have.

Text

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Quote from: rexxarofmoknathal on March 16, 2020, 11:52:13 AM

Actually, checking these things in advance before you deposit your money can save you the later struggle and potential loss. Having said this though, I find it ridiculous that when you want to deposit a lower amount than the minimum requirement that you don't get an error message, and not allowing you you to do so Angry

and that instead, if you do make that mistake you lose your money - how frustrating Sad

You are right. But the deposit process will take place initially out of the whitebit exchange. We are using the sender address where the coin/token coming from. This exchage is only receiving... It's their rule and they can't undo if it happens because of its part of their terms and conditions. So use it at your own risk.

blurryeyed

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Whitebit is a known scam - do a search in the scam section.

rexxarofmoknathal

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Quote from: Text on March 16, 2020, 10:49:30 AM

Quote from: ?? on ??

Beware, No guarantee or warranty of your money if it doesn't meet the minimum requirement of WhiteBit.com people even though you're not a direct customer of it and has externally put money on them for instance incases of deposits.

Dear user. https://whitebit.com/terms Paragraph 6 (Operations on the account) Section 6.5
WHITEBIT is entitled to set and change minimum/maximum limits for Depositing and Withdrawing the Funds at its discretion. WHITEBIT will not be liable for not making any prior notices to the Users regarding such changes.
In such case:
if the Account was deposited with an amount less than the minimum for Depositing, the Funds will not be deposited to the User’s Account on the Platform and will not be refunded to the User; deposits with the sizes, which do not meet the established minimum, are not cumulative;

Thank you for pointing out this one. I used this Whitebit exchange when the time I needed money badly so I decided to sell some of my MB8coins on their platform. Nevertheless, I never encountered any problems undergoing the KYC process. But I will take note of this, so whenever I will make trade again I would be careful and will always check the minimum requirement before making a deposit.

Actually, by checking these things in advance before you deposit your money can save you the later struggle and potential loss. Having said this though, I find it ridiculous that when you want to deposit a lower amount than the minimum requirement that you don't get an error message, and not allowing you you to do so Angry

and that instead, if you do make that mistake you lose your money - how frustrating Sad

Text

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Quote from: ?? on ??

Beware, No guarantee or warranty of your money if it doesn't meet the minimum requirement of WhiteBit.com people even though you're not a direct customer of it and has externally put money on them for instance incases of deposits.

Dear user. https://whitebit.com/terms Paragraph 6 (Operations on the account) Section 6.5
WHITEBIT is entitled to set and change minimum/maximum limits for Depositing and Withdrawing the Funds at its discretion. WHITEBIT will not be liable for not making any prior notices to the Users regarding such changes.
In such case:
if the Account was deposited with an amount less than the minimum for Depositing, the Funds will not be deposited to the User’s Account on the Platform and will not be refunded to the User; deposits with the sizes, which do not meet the established minimum, are not cumulative;

Thank you for pointing out this one. I used this Whitebit exchange when the time I needed money badly so I decided to sell some of my MB8coins on their platform. Nevertheless, I never encountered any problems undergoing the KYC process. But I will take note of this, so whenever I will make trade again I would be careful and will always check the minimum requirement before making a deposit.

Dirtpoor

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I have listed with them and their security is useless. They blocked me for a 'security check' and whilst I was unable to access my wallet someone emptied my wallet. There is an e mail trail showing this to be true but they insist that I authorised and instigated the trade. Do not go anywhere near them, you will lose everything as I did.

tmfp

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This exchange appears to be owned by the same people as P2PB2B and Coinsbit, about which there are many questions, including why do they have a fake team?

Serco

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Quote from: mdzahed134 on October 20, 2019, 07:50:00 PM

Yeah, i used WhiteBit exchange for sell some alts coins. But in generally most of the people’s aren’t familiar with such a exchange. But i think it’s enough secured to protect your assets. This is not a big exchange because only 60 different alts coins listed here and most of them shit coins. But i don’t believe manipulated trading in coinmarketcap also WhiteBit 24 hours trade volume is showing wrong figure instead of exchange activities.

in coinmarketcap i see trading volume on whitebit around %18millions.and if looking pairs that traded there i am totally doubt with this volume.if there is alternative exchanges for our assets, better to use other exchanges with better reputation.or maybe use decentralized exchanges safer than use unknown market with fake trading volume.

mdzahed134

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Yeah, i used WhiteBit exchange for sell some alts coins. But in generally most of the people’s aren’t familiar with such a exchange. But i think it’s enough secured to protect your assets. This is not a big exchange because only 60 different alts coins listed here and most of them shit coins. But i don’t believe manipulated trading in coinmarketcap also WhiteBit 24 hours trade volume is showing wrong figure instead of exchange activities.

Murat

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The Whitebit exchange is one of the newest and potential platforms where you can various types of facilities besides a good exchange site, I know a little bit about this platform, there are a lot of things you can get such as IEO platforms, Good exchange platform, also you can get margin trading facilities, even you can avail instant purchase system and so on. most important thing is that they are trying to provide a fast and secure platform for the exchange purpose, there is an option of customizing user interface which could make easy for your purpose, also has a smart protective screen, not only that but also it requires a low fee in comparison to other exchange sites.

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