Europe's Largest Cryptocurrency Exchange WhiteBIT Launches its Own Token

Cryptocurrency exchange WhiteBIT is launching its WBT token.

18:17 12 August 2022

Cryptocurrency exchange WhiteBIT is launching its WBT token. It is yet a further step for the company's development and expansion, having gone from a small startup to Europe's largest cryptocurrency exchange in just four years.

 

The launch of its own token introduces new opportunities and makes it a useful and reliable asset not only for loyal users of WhiteBIT, but also for newcomers. In particular, for beginners WhiteBIT has provided rewards for being active on the platform, trading contests, endrops, and listings on other exchanges. In addition, the launch of the WBT token will facilitate the formation of a community of influencers within the WhiteBIT cryptocurrency community.

 

"The launch of our own token is a very important milestone in the development of WhiteBIT. If someone had told me when we first started cryptocurrency that we would have our own token in four years, I would never have believed it. Today it is a reality and the result of the incredible work of the whole WhiteBIT team. The WBT token is an internal exchange tool, aimed primarily at providing users with the extra benefit and convenience of WhiteBIT's services. Safety, convenience, and security for users are keystones of our philosophy, and we are constantly looking for forms and means to improve these aspects. The launch of WBT token is exactly about that - the implementation of WhiteBIT philosophy", - said Volodymyr Nosov, CEO of WhiteBIT crypto-exchange.

 

WhiteBIT plans to issue a fixed number of tokens to the exchange in total - 4,000,000 WBT. Half of these are treasury tokens - they are to be unlocked over the next three years according to a specific schedule. To keep the tokens safe from inflation and ensure their continued growth, the WBT tokens will be burned on the basis of a weekly WhiteBIT fee.

 

The release of WBT tokens also provides a number of benefits for WhiteBIT exchange users, including: integration with other exchange products, rewards for owners, increased referral rate to 40-50%, reduced trading commissions/discount on commission, daily free ERC20/ETH withdrawals, daily free AML checks, growth potential due to a fixed number of tokens and weekly burning.

 

"I am convinced that our users will appreciate all the privileges and benefits they will get with the launch of WBT. And we will continue to expand our service capabilities and make cryptocurrency available to users from all over the world," Volodymyr Nosov emphasized.

 

The token sale will start on August 14.

 

Reference: WhiteBIT is the largest cryptocurrency exchange in Europe. It complies with all KYC and AML requirements. It is among the top 2 exchanges in the world in terms of security, based on an independent audit by Hacken, and has a AAA rating. The WhiteBIT team comprises 500 members.