Today, Rich takes a look at whiteBIT, a new and licensed cryptocurrency exchange that makes trading crypto “simple and transparent, so you can start trading from day one.”
“I love to find these new crypto exchanges,” says Rich. “I’ve always thought that crypto is the future and bitcoin is all of a sudden alive. It’s alive and well.”
Cryptocurrencies, Though Risky, Are Here to Stay
While a lot of people continue to have trust issues with cryptocurrencies, it’s an increasingly apparent fact that they’re here to stay. Facebook just made huge waves by announcing that it will launch its own cryptocurrency, Libra. Also, according to Bloomberg, some analysts are saying that it won’t be long before Bitcoin will be approaching its “late-2017 high of $20,000.”
“If you look at Bitcoin over the last three months, wow what a run. It was literally under 3000 and we’ve seen it now go as high as 14,000,” says Rich.
“Cryptocurrencies have drawn a huge deal of attention lately. Great price developments and good liquidity attract even the most experienced traders.”
But of course, there are risks inherent in crypto trading. Rich cites Quadriga—once thought to be Canada’s leading cryptocurrency exchange—as one example of a buyers nightmare.
After Quardiga`s founder and CEO Gerald Cotten passed away in December 2018, it came to light that he had allegedly been trading customer funds for his own gain. To add insult to injury, he was doing it on other exchanges!
Up to CA$250 million went missing, and just a little more than 10 percent of it was ever recovered.
What whiteBIT Offers
In addition to an easy-to-use interface and the customary 24/7 support services, whiteBIT has an enhanced security system, well-regulated operations, industry-competitive fees, and orders that take place at the speed of light. Starting is as easy as creating an account and making your first deposit, and you can begin trading.
“whiteBIT is a new exchange that could be pretty cool,” says Rich. “I’d love to know what you guys think, if you like this exchange, if you’re using this exchange.”
Featured Image: Facebook