{"id":37588,"date":"2022-06-14T16:57:00","date_gmt":"2022-06-14T13:57:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37588"},"modified":"2025-08-29T18:50:03","modified_gmt":"2025-08-29T15:50:03","slug":"what-is-whitebit","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/what-is-whitebit\/","title":{"rendered":"What is WhiteBIT?"},"content":{"rendered":"
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What is WhiteBIT?<\/strong><\/h2>\n

WhiteBIT<\/a> is a centralised crypto\u2011fiat 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. <\/p>\n

The platform supports spot, margin and futures trading, as well as the Crypto Deposit<\/a>\u2014a tool that lets users earn passive income by holding funds on the exchange. <\/p>\n

The exchange currently serves more than 3.5m active clients across 150 countries.<\/p>\n<\/div>\n

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Who founded WhiteBIT, and when?<\/strong><\/h2>\n

Entrepreneur Volodymyr Nosov founded the exchange in 2018. Before moving into crypto he ran a flooring business and headed Viva Parquet.<\/p>\n

Nosov is WhiteBIT\u2019s chief executive and also the creator and host of the YouTube show on cryptocurrencies and finance, Gagarin Show<\/a>.<\/p>\n<\/div>\n

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How does WhiteBIT safeguard client funds?<\/h2>\n

WhiteBIT keeps 96% of users\u2019 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.<\/p>\n

User accounts are protected by anti\u2011phishing tools. The exchange supports two\u2011factor authentication and uses a web application firewall (WAF) to defend against network attacks.<\/p>\n

WhiteBIT complies with standards set by the Financial Action Task Force (FATF).<\/p>\n

The exchange automatically analyses<\/a> deposit addresses in line with anti\u2011money\u2011laundering (AML) procedures. In addition, users can independently check<\/a> a cryptocurrency address for links to illicit activity.<\/p>\n

According to a Hacken audit<\/a> from February 2022, WhiteBIT ranks among the top three exchanges for security, with an AAA rating.<\/p>\n<\/div>\n

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What is in the WhiteBIT ecosystem?<\/strong><\/h2>\n

The WhiteBIT ecosystem includes the centralised exchange, as well as:<\/p>\n