WhiteBIT Coin (WBT)
WhiteBIT is a centralized cryptocurrency exchange founded in Kharkiv, Ukraine. It allows users to trade a wide variety of digital currencies, offering both crypto-to-crypto and fiat-to-crypto pairs.
Overview of WhiteBIT
Founded in November 2018 by Volodymyr Nosov, WhiteBIT offers a broad range of cryptocurrencies for trading. Users can deposit and withdraw funds using fiat currencies such as USD, EUR, and UAH. Beyond its trading platform, WhiteBIT provides additional services, including a mobile app, lending, an AMM DEX, and a news platform. The exchange emphasizes transparency, as reflected in its name.
| Ticker | WBT |
| Category | Exchange-based Tokens |
| Website | https://whitebit.com/wbt |
| @WhiteBit | |
| Telegram | White_Bit |
| Contract Addresses | |
|---|---|
| ethereum | 0x92...59 Copied! |
| tron | TF...BtCopied! |
WhiteBIT Token (WBT)
WhiteBIT's native cryptocurrency, the WhiteBIT token (WBT), offers holders benefits like discounted trading fees, which range from 10% to 100% depending on the amount of WBT held. The token also provides access to exclusive features and services, including early access to new products. WBT holders can participate in the platform's governance, voting on key decisions like fee structure changes or the addition of new cryptocurrencies.
Supply distribution
WBT has a fixed total supply of 400 million tokens, with no additional tokens to be created. The distribution is divided into Funds 1 and Funds 2, comprising 120 million and 200 million tokens, respectively. Within Funds Part 1, 54 million tokens were allocated for Private Sale, with 1 million set aside for Launchpad. An additional 25 million tokens were burned, permanently removing them from circulation. Tokens in Funds Part 2 will be unlocked gradually over three years.
Tokenomics
- Funds allocated in case of loss sharing: 3.75%
- Funds allocated in case of capital loss on the platform: 3.75%
- Funds for liquidity on WBT pairs: 28.125%
- Development of the WhiteBIT ecosystem: 7.5%
- Tokens for project participants: 10%
- User base and trading volume increase: 7.5%
- Tokens for WhiteBIT influencers: 3.75%
- Liquidity for Crypto Lending plans: 7.5%
- Tokens locked for storage: 28.125%
Products and services of WhiteBIT
Trade
WhiteBIT offers a comprehensive trading platform for buying and selling cryptocurrencies. It includes spot trading, margin trading, and a quick exchange feature to swap cryptocurrencies.
Trading features
The platform features various cryptocurrency markets with spot trading at current market prices. Margin trading allows leverage of up to 20x.
Quick exchange
Users can quickly exchange one cryptocurrency for another, with the platform supporting over 80 cryptocurrencies.
Competition
WhiteBIT also hosts trading competitions with prizes. It offers advanced order types such as limit and stop-loss orders for risk management.
Futures trading
WhiteBIT allows users to trade futures contracts, including perpetual and expiry-dated contracts, with leverage up to 125x. This service enables traders to control larger positions with less capital.
Earn
The "Earn" service offers passive income opportunities through staking and lending features.
Staking
Users can earn rewards by holding cryptocurrencies and supporting blockchain networks. The service supports a range of cryptocurrencies.
Lending
WhiteBIT's lending feature allows users to earn interest by lending cryptocurrencies, offering competitive interest rates.
Mobile app
Available for Android and iOS, the WhiteBIT mobile app provides a user-friendly interface for trading and managing cryptocurrency investments on the go.
Whitepay
Whitepay is a payment gateway that allows businesses to accept cryptocurrency payments, with features like automatic fiat conversion and secure processing.
WhiteSwap
WhiteSwap is a decentralized exchange where users can trade cryptocurrencies while maintaining control of their private keys. It supports multiple cryptocurrencies and trading tools.
WhiteEX
WhiteEX aims to simplify cryptocurrency access with top-up cards, which can be purchased online or in stores. These cards facilitate easy cryptocurrency purchases and transfers.
Gagarin News
Gagarin News is a platform offering up-to-date cryptocurrency news and analysis, covering topics like market trends and technological advancements.
WhiteBIT testnet
In April 2023, WhiteBIT launched a testnet for its blockchain, allowing real-time evaluation without using actual assets. Built on the PoA consensus mechanism, it ensures compatibility with Ethereum. Users can participate using Metamask and test the network by transferring assets and deploying smart contracts. WhiteBIT also offers expanded withdrawal options and has partnered with Koinly for cryptocurrency tax calculations.