WhiteBIT vs Binance (2024): Products & Safety Security Compared!?

WhiteBIT and Binance are two of the widely popular and used cryptocurrency exchanges out there.

Both exchanges have a lot of things in common and offer you a great trading experience.

But the question is, how do these two exchanges compare to each other? And between WhiteBIT and Binance Futures, which one should you choose for your trading needs?

If you have been thinking the same, then in this article, I am going to look at the commonalities and differences between both crypto futures trading platforms and help you choose the right trading platform.

So here we go:

WhiteBIT vs Binance: At A Glance Comparison

WhiteBIT is a leading centralized crypto exchange out there. It is also one of the largest European crypto exchanges, established back in 2018.

The exchange is widely trusted and used by millions of users across 190 countries. The highlight of the exchange is that it allows you to trade between crypto and fiat in Europe.

Plus, WhiteBIT also offers you access to different markets such as spot, margin, and derivatives. Along with that, you can enjoy other crypto features like crypto lending or WBT boost.

Binance, on the other side, is one of the most popular crypto exchanges around the globe. It is the largest crypto exchange in terms of trading volume.

The exchange was established in 2017, and it was originally based in China. But in today’s time, Binance has a global presence.

Binance is known for offering one of the lowest trading fees and access to all sorts of crypto markets and other crypto features such as liquidity farming, DeFi staking, and more.

WhiteBIT vs Binance: Trading Markets, Products & Leverage Offered

WhiteBIT

• Spot Trading
• Margin Trading with up to 20x
• Leverage
• USDT Margined Contracts Trading or Crypto Futures with up to 20x Leverage

Binance

• Spot Trading
• Spot Margin Trading (Leverage between 5x to 10x)
• Derivatives trading in USDT, USDC & Crypto (Leverage between 1x to 125x leverage)
• Crypto Options
• Binance Leveraged Tokens
• P2P Trading

Verdict: Binance is a favourable choice if you are interested in trading in different markets and enjoying other crypto features. As it has a wider range of crypto products and trading markets compared to WhiteBIT.

WhiteBIT vs Binance: Supported Cryptocurrencies

WhiteBIT

WhiteBIT doesn’t have as many tokens as Binance does. But you would still find plenty of crypto tokens. If we talk about a number, it supports more than 200+ crypto tokens and 400+ trading pairs. These include:

• BTC
• ETH
• USDC
• XRP
• RAD
• DOGE

Binance

Binance supports more than 500+ crypto tokens and trading pairs across spot and futures markets. Also, being the largest crypto exchange, it is the first choice for many crypto tokens to get launched.

As a result, you would always find new tokens on the exchange apart from the well-known ones. Some of the listed tokens are:

• BTC
• BNB
• SOL
• DYDX
• INJ
• XRP

Verdict: Binance supports more than 500+ supported crypto tokens compared to WhiteBIT. Hence, it is the winner.

WhiteBIT vs Binance: Supported Cryptocurrencies

Now let’s talk about the trading fees charged by these exchanges for spot and futures:

WhiteBIT Trading Fees

WhiteBIT has a pretty straightforward fee model. It doesn’t follow the usual tiered fee structure. Instead, it charges you a flat trading fee for both spot and futures trading.

The fee varies from trading pair to trading pair, and there is no clarity on how much it charges exactly. But it is mentioned that the trading fee never exceeds the 0.1% mark. This is the maximum you have to pay for a trade.

But it also offers you a discount on your trading fees by owning WBT tokens. WBT token holders can receive discounts of up to 90% on taker fees and up to 100% on maker fees.

So if you hold 400 WBT tokens, your maker fee discount would be 10%, and the taker fee discount would be 5%.

WhiteBIT Margin Trading Fees

WhiteBIT has one of the cheapest margin trading fees in the market. It charges you a daily fee of 0.078% for the use of borrowed funds.

WhiteBIT Deposits & Withdrawal Fees

Talking about the deposits and withdrawal fees, there are both paid free and paid options.

If you want to deposit or withdraw a fiat, then there will be a transaction fee depending on your payment method. 

On the other side, when it comes to crypto token withdrawal, there are certain fees. The fee depends on what currency you are withdrawing and a few other factors like blockchain network and network conditions.

Unfortunately, WhiteBIT doesn’t have P2P trading. So you won’t be able to deposit/withdraw funds at zero cost.

Binance Spot Trading Fee

Binance has a transparent fee structure. Unlike WhiteBIT, it follows a tiered fee model.

Also, it offers you a 25% discount on your spot trading fees if you pay the fee using BNB. So the regular and discounted trading fee stands at:

Binance Futures Trading Fee

Talking about Binance’s futures trades, there is a 10% discount applicable to only USDT trading pairs.

Also, it follows the same tiered fee structure. So you can get cheaper futures trading fees by increasing your 30 days trading volume.

Binance Deposit & Withdrawal Fees

Crypto deposits on Binance are free. However, for withdrawals, you have to pay a withdrawal fee.

Apart from crypto, you can also deposit/withdraw fiat. However, this will incur a transaction fee. But for certain payment methods, there are no charges on deposits/withdrawals.

Ultimately, with Binance, you are getting the option of P2P trading. So you can deposit and withdraw funds at zero cost.

Verdict: Binance is a better choice when it comes to trading fees. It costs cheaper than WhiteBIT and offers you heavy discounts on both spot and futures trading.

WhiteBIT vs Binance: Order Types

WhiteBIT

• Limit
• Market
• Stop Limit
• Stop Market
• OCO

Binance

• Limit
• Market
• Stop Limit
• Stop Market
• Trailing Stop
• Post Only
• TWAP

Verdict: As Binance supports a few additional order types, it is the winner. The additional order types will help you place advanced orders.

WhiteBIT vs Binance: KYC Requirements & KYC Limits

WhiteBIT

Talking about KYC requirements, WhiteBIT has made it mandatory to complete your identity verification. Without KYC, you are not allowed to deposit/withdraw or place any trades.

Additionally, there are no KYC levels. So with primary verification, you would be able to get access to all the features and enjoy a higher deposit/withdrawal limit.

Binance

Binance has also made it mandatory to complete your KYC before you can start trading on the exchange.

You won’t be able to access any of the platform features unless you complete your user verification. However, unlike WhiteBIT, it does have different levels of KYC with different deposit/withdrawal limits.

KYC Limits

Binance has three different KYC levels, these are:

Verified: As both the exchanges made it mandatory to complete KYC – it is a tie between WhiteBIT and Binance.

WhiteBIT vs Binance: Deposits & Withdrawal Options

WhiteBIT

• Method 1: Buy crypto using your credit/debit card, bank transfer, or other supported payment options.
• Method 2: Deposit or withdraw crypto from another wallet or exchange.

Binance

• Method 1: Buy crypto using your credit/debit card, bank transfer, or other supported payment options.
• Method 2: Using Binance’s P2P trading, you can deposit/withdraw funds at zero cost. 
• Method 3: Deposit or withdraw crypto from another wallet or exchange.

Verdict: Binance wins the section clearly, as it offers you one additional way to deposit/withdraw funds. 

WhiteBIT vs Binance: Trading & Platform Experience Comparison

WhiteBIT

• Two types of Technical charts, including TradingView
• Easy-to-use order form
• Trading pair info
• Order book
• Price alerts
• Open orders, Order history, Trade history, Positions, Positions history, Funding history & Balances

Binance

• Multiple technical charts, including TradingView
• Easy-to-use order form
• Trading pair details
• Order book
• Recent trades
• Current orders, Positions, closed P&L, order history & trade history
• Easy-to-use mobile app

Furthermore, you can learn more about the exchange by checking out this how to trade crypto futures on Binance guide.

Verdict: When it comes to the trading experience, both exchanges have a lot of similarities and similar features. Hence I am calling it a tie between the two.

WhiteBIT vs Binance: Customer Support

WhiteBIT

You can contact WhiteBIT support via live chat support available on their website.

Alternatively, you can also get help by raising a support ticket. But the exchange doesn’t offer support via social media channels like Twitter.

Binance

Binance also offers you support in a similar way. You can contact them using its live chat option, and you will instantly get connected to a support exchange.

The exchange also has a quicker response time. Additionally, you can also email them to get support or contact them through Twitter at @BinanceHelpDesk.

Verdict: As Binance support is much more convenient to reach out to and has a quicker response time, I declare it a winner for this section.

WhiteBIT vs Binance: Security Features

WhiteBIT

• Two-factor authentication
• Anti-phishing code
• Address management

Binance

• Two-factor Authentication
• Passkeys and biometrics
• Real-time monitoring
• Advanced-data encryption
• One-stop withdrawal
• Withdrawal whitelist
• Anti phishing code
• Device management

Verdict: Binance clearly wins this section by offering more security features.

Is WhiteBIT Safe & Legal To Use?

WhiteBIT is definitely a safe exchange to trade crypto. The exchange holds EU crypto exchange and custodial licenses.

In addition, the exchange has implemented diverse regulations to ensure its users have a safe and secure trading experience.

It also employs various security features and stores users’ funds in offline storage to prevent security breaches. Moreover, the exchange also doesn’t have any history of hacks to date.

Is Binance Safe & Legal To Use?

Binance is a highly reliable platform for cryptocurrency trading. The exchange has a global presence, and it is used by millions of users.

The exchange is registered in Malta and adheres to all regulations in its registered jurisdiction. Additionally, Binance has placed numerous security features to safeguard your account.

It utilizes cold storage to ensure the safety of your funds and has a clean record of never experiencing any hacking incidents to date.

WhiteBIT vs Binance Conclusion: Why not use both?

In the end, it is Binance that wins this comparison. Binance is a favourable option for trading in all sorts of crypto markets, be it spot, margin, futures or options.

Plus, you would find a low trading fee across these markets with hundreds of trading pairs available. So go ahead and open a Binance account.

But WhiteBIT can’t be ignored as well.

The exchange is well-regulated and allows you to trade in spot and futures markets, and has several other features.

Learn how does WhiteBIT & Binance stack up against the competition

• WhiteBIT vs Bybit
• Binance vs Kraken
• Binance vs Delta Exchange
• Binance vs Nexo
• Binance vs Remitano
• Binance vs CoinEx

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Nayan Roy

Nayan is a crypto and gadget enthusiast who likes to cover topics related to Tech, Startups, Crypto, Gaming, Windows, and other interesting areas. But when he is not working, you can find him playing games or watch random videos on YouTube.

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