WhiteBIT is a trading platform based on a smart contract to make trading simple, secure, and fast. This platform was created with the Ethereum blockchain technology, and it offers fast speeds of up to 100 transactions per second. Using this platform, users can trade any cryptocurrencies in a very simple way.
The users of this platform can send a transaction to another user with zero gas cost. There are no fees that are related to sending transactions through this platform. The users don’t have to worry about paying the network fees when sending their transactions because this platform will handle all of that for them.
The company has been working on improving its product and its partnerships. The development team is constantly working to improve the WhiteBIT system to be more efficient for the users of the system. The company has successfully gotten multiple partnerships with various cryptocurrency-related companies such as Coinbase and Bittrex.
The company has also been working on improving its security features and customer support service to provide better services to its customers.
The WhiteBIT team is sure that there’s a need for a trading solution that’s simple and quick, and they’re going to do their best to maintain those two features at all times.
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WhiteBIT makes it so you can trade directly with others. There are no fixed exchanges, and in this way, it resembles a marketplace. However, there is no need to wait for your desired trade to be fulfilled by another trader. The new platform will match different traders’ buying and selling prices and instantly make the trade.
WhiteBIT is a cryptocurrency exchange platform. It will be the first currency exchange platform to use a decentralized trading model. There are many reasons why decentralized trading is superior to centralized trading:
Centralized exchanges charge high fees of 0.20% to 0.25% per trade. In contrast, decentralized exchanges do not require fees, and transactions can be executed with the same speed as other cryptocurrency transactions.
Centralized exchanges can be closed due to a hack, theft, or government order, causing traders to lose all of their money at once. Decentralized exchanges have never been hacked because they cannot be hacked since there is no central point for hackers to target. They never go offline because there is no main point of failure.
Decentralized exchanges do not require any personal information from users, making them more anonymous than centralized exchanges that require ID verification and personal information from its users, which could later be stolen or sold without the user’s consent. Centralized exchanges have proven time and time again that they are liable for security breaches where user information was stolen. These attacks cause users to lose their money because all of their funds are
WhiteBIT is a project that wants to make the cryptocurrency world more transparent. The platform will offer a variety of services to help users of cryptocurrencies. The website whitebit.io states this goal: “WhiteBIT is an innovative platform for trading cryptocurrencies, based on trust and transparency. It offers a rich set of tools and data which are accessible directly from the WhiteBIT website.”
This article was written by WhiteBIT community members, not the WhiteBIT team.
The first step on the road to making cryptocurrency more transparent is to fight fraud. According to the site whitebit.io, there are many examples of fraud in the cryptocurrency world. One example is fake tokens (fraudulent ICO’s) that offer no value for investors. To combat this, WhiteBIT will have a search function to check whether certain tickets are real or fake. This will be possible through linkages with other platforms like CoinMarketCap.
Another problem with the cryptocurrency market is that many scammers want to trick people into buying their tokens at too high prices and then sell them immediately at a lower price. To combat this, WhiteBIT has a social trading feature where people can exchange information and tips on trading their tokens.
Read Also: Retail scams – 5 of the most common ones dissected
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