Cryptocurrency is a concept that has now become a part of our everyday life. In order to manage and trade these cryptocurrencies, there are many crypto exchanges.
Here in this article, “WhiteBit vs BitMart vs BYDFI,” we will be comparing the three cryptocurrency exchanges, including all their features, Security, customer support, and many other criteria.
Summary
| Crypto Exchange | WhiteBit | BitMart | BYDFI |
| Headquarters | Tallinn, Estonia | New York | Singapore |
| Transaction Fees | 0.1% | 0.25% | 0.5% |
| Fiat Deposit | Yes | Yes | Yes |
| Leverage | Up to 20x | Up to 100x | Up to 100x |
| Supported cryptocurrencies | BTC, ETH, XRP, SOL, ADA, and many more. | BTC, LTC, XRP, ETH, DASH, BCH, and many more. | AAVE, BNB, DAI, DOGE, USDT, USDC, XRP, SUSHI, 1INCH, LTC, and many more. |
| Maximum Withdrawal | 2 BTC | Varies from crypto to crypto | 100,000 USDT |
| Mobile App | Yes, Available for both Android and iOS. | Yes, Available for both Android and iOS. | Yes, Available for both Android and iOS. |
What is WhiteBit?
WhiteBit is Europe’s largest international centralized crypto-to-fiat exchange with two million+ registered users and has a team of 450+ members. The platform meets all the Identity verification and AML requirements.
Moreover, the platform was founded in Ukraine and had over 400+ trading pairs. The prominent people who are behind the WhiteBit exchange are Vladimir Nosov.
Furthermore, the goal of WhiteBit is to achieve the mass adoption of blockchain technology and also to expand the crypto community by providing an easy-to-use and secure trading platform.
What is BitMart?
BitMart is one of the famous global cryptocurrency exchanges that allow all traders in 180+ countries to purchase and sell over 1,000 digital tokens and currencies.
Their vision is to bring cryptocurrency available to everyone and everywhere. The platform supports over 180+ countries and serves over 9,000,000+ customers.
Moreover, their professional team members come from Accenture, Amazon, Alibaba, Tencent, and other top-tier tech firms.
Furthermore, they have built a more cost-efficient and user-friendly financial platform to involve each and every individual all around the world.
What is BYDFI?
BYDFI is one of the most reliable cryptocurrency exchanges located in Singapore. The platform was launched in April 2020 and aimed to simplify the crypto trading experience of all its users.
It has a more basic user interface than other crypto derivatives exchanges as it is a CFD platform. Moreover, the platform has acquired licenses from Financial regulators that belong to four different countries.
Features: WhiteBit vs BitMart vs BYDFI
WhiteBit
- The platform offers up to 20x leverage for margin trading and is just not limited to traditional trading.
- They have a user-friendly mobile application with full functionality for 24*7 trading.
- There are 6 types of trading orders and a convenient API to help you customize your private functionality and get more options.
- They provide traders with accurate AML to make sure that your addresses are not involved in money laundering.
- WhiteBit stores 96% of its assets in cold crypto wallets and also has an insurance fund.
- WhiteBit is one of the most accessible cryptocurrency exchange platforms because the interface is adopted for both beginners and advanced traders.
- Moreover, traders can also take advantage of the Market, Conditional, Stop and Limit orders.
- Furthermore, traders can replenish their balance both with cryptocurrency and fiat.
Also read, 8 Best Cryptocurrency APIs for Developers
BitMart
- BitMart is the one-stop platform to initiate your cryptocurrency investment and management.
- The platform allows you to purchase cryptos with credit cards and debit cards.
- They provide you with 750+ high-quality currencies and also 800+ trading pairs.
- Bitmart has an advanced risk control system in the crypto market, consisting of hybrid hot/cold wallet systems and multi-signature technologies.
- Moreover, the customer support team of BitMart is available 24*7 to solve your queries and is always receptive to your needs.
- BitMart offers a referral of up to 30% and an affiliate program to earn crypto rewards and interest for bringing in new traders.
- Furthermore, the platform provides you with BitMart Earn, which is a one-stop hub where holders can explore earning possibilities for their cryptocurrencies.
BYDFI
- BYDFI is the world’s leading crypto contract exchange which is also known for its welcome bonus, which is up to 258 USDT. Furthermore, once the user is registered successfully to the platform, they can earn free Ethereum, Tron, Bitcoin, and all other major cryptocurrencies.
- The platform has a low minimum deposit amount of only 5 USDT.
- BYDFI trading provides all its traders access to the global crypto market through CFDs, copy trading, and spot trading.
- The platform provides all the traders with an intuitive and user-friendly interface to get started easily.
- They provide leverage of up to 125x on cryptos and 200x on derivatives.
- Moreover, the platform provides traders with online courses on finance and investing that will further help them learn more about the platform.
Supported Cryptocurrencies: WhiteBit vs BitMart vs BYDFI
WhiteBit
WhiteBit mainly supports all significant cryptocurrencies like Chainlink, Ripple, DAI, DOGE, Bitcoin, Ethereum, Monero, Polkadot, and many more. In addition, more than 400+ trading pairs further give traders a massive diversity.
BitMart
The BitMart exchange supports about 800+ trading pairs and 750+ high-quality currencies. These currencies include Dash, Bitcoin, Bitcoin Cash, Ethereum, BMX, Tether, and there are many more.
BYDFI
BYDFI supports approximately 43 cryptocurrencies and 100+ crypto trading pairs. These cryptocurrencies include BTC, ETH, XRP, LINK, HT, TRX, EOS, and more.
Pricing Structure: WhiteBit vs BitMart vs BYDFI
WhiteBit
The pricing structure of WhiteBit is not that complex. The withdrawal fee of the platform depends on blockchain fees and also on the price of an asset.
So much so they can be changed without notice; therefore, there’s always a need to check the information on the withdrawal page.
On the other hand, the WhiteBit fee is standard; it may vary for some pairs, but it also never exceeds 0.1%.
Moreover, there’s no deposit fee that the platform charges for depositing cryptocurrencies. Furthermore, the daily price for using funds in margin trading is 0.098%.
BitMart
The BitMart fee that the platform charges for standard users are 0.2500%. However, every day at UTC 00:00 a.m., the system will update the user’s fee level and take effect one hour later.
Moreover, Standard users are allowed to use BMX deduction and get a discount of 25%. The rebate maker fee is taken off before calculating the commission fee.
The platform charges no deposit fee, and the withdrawal fees are regularly adjusted according to blockchain conditions. Also, the minimum withdrawal amount varies from crypto to crypto.
BYDFI
The pricing structure of BYDFI is such that the currency exchange fee is 0.5%. The trading fee that is applicable for opening and closing a derivative is calculated as Margin * Leverage * 0.025%.
This opening and closing fee is deducted in advance while opening a position and will not be charged later when closing a place.
Moreover, the maker and taker fee that is charged for spot handling is 0.1%, and the conversion fee is 0.1%.
In addition to this, if your position is held only for less than twelve hours, then you are not charged any overnight fee.
However, if you have had the position for more than twelve hours and then closed after 05:55:00, you will be charged as follow- Margin * Leverage * 0.45% * Days.
Security: WhiteBit vs BitMart vs BYDFI
Is WhiteBit Safe?
WhiteBit has a AAA rating and comes among the top 2 most secure exchanges in the world based on an independent Hacken audit. Moreover, it also comes among the top 3 most secure crypto exchanges according to cer.live.
In addition to this, they offer extra protection with an anti-phishing code. They also ensure the full transparency and Security of the platform.
They also make use of Two-factor authentication (2FA) as an additional layer of security for accounts. Furthermore, the platform stores 96% of its assets on cold wallets and has an insurance fund.
Is BitMart Safe?
BitMart is a secure platform as it takes good care of the user’s account. They have advanced risk control systems and provide hybrid cold/hot wallet systems with multi-signature technologies.
Moreover, they make use of the Google authentication app, email/SMS authentication, and other security tools that will keep your account safe.
Furthermore, the platform has also come up with a bug bounty program as no matter how secure the system is; there’s always a chance that the system is posing a significant vulnerability.
There’s a reward for the person who’s going to find a bug, and for every eligible bug, they will get 2000 BMX.
Is BYDFI Safe?
BYDFI always keeps up to its name and position. Along with all the features that the platform provides, it is also known for its great security measures.
All the security measures are taken by them to decrease online theft and fraudulent activities.
In addition to this, the platform has set up many wallets that are stored online in order to keep its user’s assets secure. Moreover, BYDFI makes use of SSL encryption and has also acquired many licenses over the past few years.
Furthermore, the platform is regulated by the U.S. Money Services Business(MSB), Financial Regulatory Authority(MTR), Singapore’s Business Administration, and Australia’s Transaction Reporting and Analysis Center(AUSTRAC).
Mobile Application: WhiteBit vs BitMart vs BYDFI
WhiteBit Mobile App
WhiteBit mobile application helps traders get access to all the services of the platform on their mobiles themselves. They can create and activate WhiteBit codes, take part in trading competitions, view their transaction history, and much more.
There are many assets like ETH, BTC, USDT, DOGE, and many such popular cryptocurrencies that can be traded using the WhiteBit app.
In addition to this, there are two modes that are available in the app. The first is Wallet mode which is available only for users with an account.
Here, traders can view all your available assets. The second one is the Exchange mode which can be used without authorization. This mode helps you track the rates and see the order book.
BitMart Mobile App
BitMart offers its trading platform for Android and iOS operating systems, i.e., mobile applications.
The application helps traders to have a user-friendly and intuitive experience similar to what it offers on PCs and laptops.
Moreover, the mobile application helps traders to trade in cryptocurrencies like any other exchange on the crypto market and lets them keep track of the market performance.
BYDFI Mobile App
BYDFI has a mobile application that comes up with all the important features that are covered on the website too. Further, the mobile application makes everything a bit more accessible and easy-going.
The mobile application allows traders to copy trade and also analyze the market from anywhere, anywhere. BYDFI app is available for both iOS and Android users.
Customer Support: WhiteBit vs BitMart vs BYDFI
WhiteBit Customer Support
WhiteBit has a FAQ section solely available for traders to have a glance at all the frequently asked questions.
There they can find out almost all the answers to the little queries they are facing. In addition to this, they can make use of the live chat option where their query can get solved real quick.
Moreover, there are blogs present on the platform which will help traders to get precise answers and will help them learn more about the platform.
Furthermore, if all the above-mentioned things don’t work, then traders can contact the customer support service team by mailing them at [email protected].
BitMart Customer Support
BitMart provides traders with a customer support service team that is available 24*7. They are receptive to your needs and are always available to help you out.
Beginners here can take advantage of the FAQ section to learn and start with crypto assets on the BitMart platform.
Moreover, the platform offers its traders a live chat support option that they can use any time of the day.
Furthermore, you can raise a ticket if you are still stuck with any of the queries. In the ticket, you just need to mention your email address, phone number, subject, and description.
BYDFI Customer Support
There is a comprehensive guide present on the BYDFI platform that is for all the traders to help them get through the platform.
All the general questions will be mentioned there. Traders can come in touch with the customer service team by just sending them an email with all the descriptions at [email protected].
Moreover, with all the above things, there’s also a live chat functionality present that will make all of the work a little quicker and more accessible. Traders will not have to wait for long and will get a quick response.
Pros and Cons: WhiteBit vs BitMart vs BYDFI
| Pros | Cons | |
| WhiteBit | 1. The platform provides traders with 20x leverage. 2. They are just not confined to traditional trading. 3. WhiteBit provides traders with 400+ trading pairs. 4. The user interface of WhiteBit is easily adaptable by both novice traders and professionals. |
1. There are no features available for demo trading. 2. The platform is not active on the Telegram channel, although they have their presence there. |
| BitMart | 1. The platform supports a plethora of cryptocurrencies present in the crypto market. 2. The trading fees and other fees are also very reasonable. 3. It has a user-friendly interface. 4. BitMart keeps its users’ funds in a hot/cold wallet so that they are all well secured. 5. BitMart customer service is available 24*7. |
1. The BitMart platform is relatively new in the market. |
| BYDFI | 1. BYDFI provides many charting tools that are available for technical analysis. 2. The platform is trustworthy as it has many licenses. 3. BYDFI provides traders with a demo trading account. 4. The platform believes in bringing out a simplified trading experience. |
1. The withdrawal options on BYDFI are limited. |
Conclusion
The three platforms are suitable and great for all levels of users, be they beginners or advanced traders, but BitMart has more features than WhiteBit.
However, WhiteBit has a lower fee structure than BitMart and BYDFI. Hope that this article on “WhiteBit vs BitMart vs BYDFI” will help you make an informed decision.
Frequently Asked Questions
How to change the password of a WhiteBit account?
In order to change the password, you need to:
1. Click the Account icon that is present in the upper right corner of the WhiteBit website.
2. Then select Settings -> Security.
3. After that, enter your old password and pick a new one.
4. Then click on “Change,” go through the captcha, and enter the Two-factor authentication code.
That’s it, and your password will be changed successfully.
How to report a bug in the BitMart platform?
1. First, send the bug report to [email protected].
2. You must try to include as much detail as possible, including the bug description, its impact, and steps for reproducing.
3. Lastly, your name should be included and also your BMX address for payment.
How to deposit on BYDFI?
In order to deposit on BYDFI,
1. You need to select the coin that you need to deposit under the assets section.
2. After that, you should select the chain name.
3. Then a QR code and deposit address will be displayed, through which you can then deposit the coins.
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