What do you think about WhiteBit exchange? - page 6.

Text

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Quote from: Yamifoud on September 11, 2019, 07:28:53 AM

Are you able to withdraw your BTC's after traded your MB8 coin? Hope you will...lol

I have see that their withdrawal fees is 0.0005BTC which it looks too high compared to the others. I don't know how it attracts traders especially when they just using Bitcoin because of its fees.
But anyway, they are just new in the operation and I have to think that they are welcome for any suggestions that could help them better.
By looking at their reviews, I don't see any complaints which means that they are able to provide services or we might say that only few have their trades in this exchange.

I never tried withdrawing my funds cause my coins is not yet sold, still waiting the right time. I think I can withdraw the coins in any form not just by bitcoin. Because as we can see, every time we deposit a coin, there’s also a withdraw address button.

Quote from: kennen1113 on September 11, 2019, 08:36:39 AM

In general, you are having a good experience with this exchange but my advice is that you should not submit information to complete KYC because this is a very strange exchange for many people, we don't see its reputation in the market, rushing to send personal information is not good. In addition, you also do not often use this exchange when the market has too many good exchanges such as kucoin, binance, bittrex, sometimes you just need it for liquidity, no need to think about KYC confirmation when it's not needed

Don’t worry, I am aware of the risk in applying for KYC verification, thanks for the advice anyway. Just needed to register on this exchange site cause for now it has the biggest volume of MB8coin market. And I didn’t deposit all the coins there.

Quote from: Gozie51 on September 11, 2019, 11:25:10 AM

Does it require KYC? Is it mandatory in the exchange if you want to do a simple transaction like selling of coins as you want to do at the moment ?

It doesn’t require KYC. I think its only an option like withdrawing huge number of bitcoins.
No, it is not also mandatory to provide your personal information on the exchange site just to make a simple transaction or to sell your coins.

MonsterV

legendary

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Well it sounds like a new exchange because I have never heard name this exchange. And after I traced there is still few information that provides feedback and reviews about this exchange. But from what I see, this exchange is quite interesting even though it was only launched this year, because development is quite rapid and entered into top 100 exchanges beat poloniex. I will try this exchange another time and I will share my experience here.

Quote from: kennen1113 on September 11, 2019, 08:36:39 AM

Quote from: Text on September 11, 2019, 07:00:21 AM

I just recently registered in whitebit on Sunday for the reason to sell some of my MB8 coins. Well, I am testing this exchange site, so far its good, the chat support is active and responsive. For the security, I don’t know yet, I am not yet submitting my personal details for KYC verification.

In general, you are having a good experience with this exchange but my advice is that you should not submit information to complete KYC because this is a very strange exchange for many people, we don't see its reputation in the market, rushing to send personal information is not good. In addition, you also do not often use this exchange when the market has too many good exchanges such as kucoin, binance, bittrex, sometimes you just need it for liquidity, no need to think about KYC confirmation when it's not needed

Indeed KYC is a problem for new exchanges like Whitebit because they don't have enough good reputation to trust. KYC is not a trivial matter because it concerns our privacy data, even exchanges such as binance still have a chance to experience data leakages, especially exchanges that have not been tested for safety, such as whitebit.

kennen1113

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Quote from: Text on September 11, 2019, 07:00:21 AM

I just recently registered in whitebit on Sunday for the reason to sell some of my MB8 coins. Well, I am testing this exchange site, so far its good, the chat support is active and responsive. For the security, I don’t know yet, I am not yet submitting my personal details for KYC verification.

In general, you are having a good experience with this exchange but my advice is that you should not submit information to complete KYC because this is a very strange exchange for many people, we don't see its reputation in the market, rushing to send personal information is not good. In addition, you also do not often use this exchange when the market has too many good exchanges such as kucoin, binance, bittrex, sometimes you just need it for liquidity, no need to think about KYC confirmation when it's not needed

bitinka

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Activity: 283

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Quote from: Yamifoud on September 11, 2019, 07:28:53 AM

Quote from: Text on September 11, 2019, 07:00:21 AM

I just recently registered in whitebit on Sunday for the reason to sell some of my MB8 coins. Well, I am testing this exchange site, so far its good, the chat support is active and responsive. For the security, I don’t know yet, I am not yet submitting my personal details for KYC verification.

Are you able to withdraw your BTC's after traded your MB8 coin? Hope you will...lol

I have see that their withdrawal fees is 0.0005BTC which it looks too high compared to the others. I don't know how it attracts traders especially when they just using Bitcoin because of its fees.
But anyway, they are just new in the operation and I have to think that they are welcome for any suggestions that could help them better.
By looking at their reviews, I don't see any complaints which means that they are able to provide services or we might say that only few have their trades in this exchange.

Such a commission for withdrawal at almost all exchanges. Yes, I also think that’s a lot. Somehow at Bitmex I had to pay 0.00200 BTK commissions. This is when the network was overloaded and Bitcoin was actively growing.

Yamifoud

hero member

Activity: 2828

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Quote from: Text on September 11, 2019, 07:00:21 AM

I just recently registered in whitebit on Sunday for the reason to sell some of my MB8 coins. Well, I am testing this exchange site, so far its good, the chat support is active and responsive. For the security, I don’t know yet, I am not yet submitting my personal details for KYC verification.

Are you able to withdraw your BTC's after traded your MB8 coin? Hope you will...lol

I have see that their withdrawal fees is 0.0005BTC which it looks too high compared to the others. I don't know how it attracts traders especially when they just using Bitcoin because of its fees.
But anyway, they are just new in the operation and I have to think that they are welcome for any suggestions that could help them better.
By looking at their reviews, I don't see any complaints which means that they are able to provide services or we might say that only few have their trades in this exchange.

anth36jian

jr. member

Activity: 173

Merit: 1

Personally, i got on it for the first time, but I saw that you can even go through the listing to add your token, the main thing is that the exchange is popular

Text

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Activity: 2464

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I just recently registered in whitebit on Sunday for the reason to sell some of my MB8 coins. Well, I am testing this exchange site, so far its good, the chat support is active and responsive. For the security, I don’t know yet, I am not yet submitting my personal details for KYC verification.

Japinat

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I hear it first here, then made a research and saw that they have a decent volume.
They have $17 million trading volume now based on https://coinmarketcap.com/exchanges/whitebit/, so I think it's a trusted exchange.

I go through the coins listed, it seems like most of the coins listed are legit coins and popular coins in the market.

Quote from: Nevsky on September 09, 2019, 12:45:02 PM

I heard 96% of all assets are stored on cold wallets.

About that one, it needs to be verified yet, but when we say about exchange, only one thing in my mind, they are vulnerable of hacking.
Also, I was thinking if almost all coins are in cold wallet, I don't think they could process withdrawals timely.

bitinka

member

Activity: 283

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Quote from: 1Referee on September 10, 2019, 07:07:32 AM

According to Namebio the domain has been sold for $4000 through Sedo on 2018-11-28.

I would practice caution here. A new exchange that is generating decent volumes is very suspicious. Not saying it's a scam, but exchanges usually need years to build up enough credibility for people to actually use them. It could be them generating volume through wash trading to lure people in, which is a common practice amongst exchanges nowadays.

If we have a look at their Twitter page, a lot of their likes and retweets come from bots and shills. Lips sealed

If this is the case, then I will say that today many people do similar things, even large exchanges such as Binance. To maintain liquidity, robots are involved that boost volumes.

retalids

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Activity: 153

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Quote from: 1Referee on September 10, 2019, 07:07:32 AM

According to Namebio the domain has been sold for $4000 through Sedo on 2018-11-28.

I would practice caution here. A new exchange that is generating decent volumes is very suspicious. Not saying it's a scam, but exchanges usually need years to build up enough credibility for people to actually use them. It could be them generating volume through wash trading to lure people in, which is a common practice amongst exchanges nowadays.

If we have a look at their Twitter page, a lot of their likes and retweets come from bots and shills. Lips sealed

Yes, volumes aren’t huge, but still whitebit is very young exchange. I’ve checked, they really have financial license and volume looks like real. besides, even huobi and hitbtc don't have license))

Crypto_hive

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Quote from: Oilacris on September 10, 2019, 04:48:54 PM

Quote from: Nevsky on September 10, 2019, 08:22:30 AM

Quote from: Indiana1990 on September 09, 2019, 04:09:11 PM

why do think that cold wallets are about secure? I think that exchange should provide a lot of features to ensure clients safety, and this one is not the key

I always thought that cold wallets are safer and you don’t have to worry about the safety of your cryptocurrency. Since most of the time such a wallet is offline.

When we do talk about wallets then its been classified to 2:

-Hotwallet (exchange wallet - actively making transactions)
-Coldwallet ( Hardware ones,airgapped etc.)

When it comes to security then theres no question about coldwallet but I highly believe its been a common set-up on most exchangers having their own cold and hot ones.

About Whitebit exchange,this is my first time hearing out and I wont risk on using it since there are more better options.

As far as I understand, about a cold wallet is not connected to the network, but only when you need to complete a transaction. I heard that the cold wallets Trezor or Ledger were breaking. But I don’t know, maybe it was just negligence with private keys.

Oilacris

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Quote from: Nevsky on September 10, 2019, 08:22:30 AM

Quote from: Indiana1990 on September 09, 2019, 04:09:11 PM

why do think that cold wallets are about secure? I think that exchange should provide a lot of features to ensure clients safety, and this one is not the key

I always thought that cold wallets are safer and you don’t have to worry about the safety of your cryptocurrency. Since most of the time such a wallet is offline.

When we do talk about wallets then its been classified to 2:

-Hotwallet (exchange wallet - actively making transactions)
-Coldwallet ( Hardware ones,airgapped etc.)

When it comes to security then theres no question about coldwallet but I highly believe its been a common set-up on most exchangers having their own cold and hot ones.

About Whitebit exchange,this is my first time hearing out and I wont risk on using it since there are more better options.

artdor

sr. member

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I heard about this exchange. It is small, but very comfortable and functional. For safety, I do not have such information.

Nevsky

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Quote from: Indiana1990 on September 09, 2019, 04:09:11 PM

why do think that cold wallets are about secure? I think that exchange should provide a lot of features to ensure clients safety, and this one is not the key

I always thought that cold wallets are safer and you don’t have to worry about the safety of your cryptocurrency. Since most of the time such a wallet is offline.

1Referee

legendary

Activity: 2170

Merit: 1427

According to Namebio the domain has been sold for $4000 through Sedo on 2018-11-28.

I would practice caution here. A new exchange that is generating decent volumes is very suspicious. Not saying it's a scam, but exchanges usually need years to build up enough credibility for people to actually use them. It could be them generating volume through wash trading to lure people in, which is a common practice amongst exchanges nowadays.

If we have a look at their Twitter page, a lot of their likes and retweets come from bots and shills. Lips sealed

carter34

member

Activity: 1302

Merit: 25

I think is a new exchange and making much promising move. Some new and also promising coin like mb8 has been listed there too. I have not used them but I read some listing are going on there. Search mb8 on cmc, it got listed there.
https://coinmarketcap.com/

Peterdav

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Activity: 840

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I just reviewed this exchange platform, i see this is good exchange and the volume of transaction is pretty high. WhiteBit have a good interface and i think this platform can compete with other exchange platform.

michellee

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Quote from: Nevsky on September 09, 2019, 12:45:02 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 don't hear anything about them, and I don't use them too. If you think that they are stored all of the assets in the cold wallet, then it is better if you can do that by yourself because you can control your assets and you can directly to access the cold wallets. You don't need them to store your assets because you don't know how good they were securing the assets. If I were you, I would not store my assets in the exchanges for a long time especially in the new exchange because I don't know if the exchange can really protect the assets from the attackers or not.

sheenshane

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Quote from: Nevsky on September 09, 2019, 12:45:02 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.

As far as I know, this exchange is recently launched this year 2019. Literarily, they are new and not suppose to be trusted unless they already operated at least even 6 months. Do you own research before stepping in and made a deposit.

Here are the links that probably you can search further regarding them about the feedbacks.

Blog: https://news.whitebit.com/
LinkedIn: https://www.linkedin.com/company/19096205/
Telegram: https://t.me/White_Bit
Twitter: https://twitter.com/WhiteBit6

crzy

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Quote from: Nevsky on September 09, 2019, 12:45:02 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.

Some reviews are good and some are not, make your research about that mate before using it because everything can be manipulated just to attract investors. Never tried to use Whitebit exchange because I’m satisfied on top exchanges, you might also feel that if you’re using top exchanges.

Topic: What do you think about WhiteBit exchange? - page 6. (Read 1397 times)