Is it safe to use the WhiteBIT Australia exchange?

WhiteBIT Australia prioritizes safety, transparency, and constant development. Our main priority is the safety of our customers' personal data and security of their funds.

What are the security measures on our exchange?

We leverage advanced methods and technologies. We have implemented:

  • Two-factor authentication (2FA): to protect your account from unauthorized access.
  • Passkey: is a unique identifier that is used to confirm the legitimacy of your actions on our platform. It serves the same purpose as 2FA and can be used as an alternative to ensure the security of your account.
  • Anti-phishing: helps to ensure the reliability of communication from our exchange.
  • Identity verification and AML checks: to ensure the transparency and security of our platform.
  • Logout time: automatic logout from an account in the absence of activity.
  • Address management: help protect your assets by allowing them to be withdrawn only to addresses on the Allowlist
  • Device management: cancel individual or all active sessions across all devices.

How secure are users’ funds?

We have AAA rating and are in the top 3 most secure crypto exchanges according to cer.live and the top 2 most secure exchanges in the world based on an independent Hacken audit.

In addition, we:

  • Store 96% of the digital assets on cold wallets and use WAF to detect and block hacker attacks. The assets stored on the cold storage are protected with the multisignature access system.
  • Have an insurance fund to protect users’ assets, it is replenished with contributions from transaction fees. Under the current coverage plan, the fund insures the assets stored in WhiteBIT Australia's cold storage

FAQ

What is 2FA, and why is it important?

Two-factor authentication (2FA) is an additional layer of protection for your account. It ensures that you are the only one who can access your account, even if a hacker knows your password. Once 2FA is activated, when logging into your account, you will need to enter a six-digit authentication code in addition to your password, which changes every 30 seconds in an authenticator app.

What is Passkey?

Passkey is another method of two-factor verification and functions on the same level as TOTP (Time-based One-Time Password) authentication, which works with Google Authenticator or other similar applications.
Instead of using the authenticator application for 2FA verification, you can choose to enable Passkey on our platform. Various types of devices or platforms can act as a Passkey. Each device or platform generates two keys: private, which is used for confirmation and public —  a unique identifier of the authenticator and is used to identify the key within the service on which it will be used.

How does the anti-phishing feature work?

Anti-phishing lets you add a personal code that will be included in system emails from the whitebit.au domain.

What is the identity verification procedure like on our exchange?

Identity verification on our exchange is called “KYC” verification. It is the abbreviation for “Know Your Customer” or “Know Your Client”. It helps to secure accounts and keep funds safe. Furthermore, it is worth remembering that online verification shows the reliability of the exchange. Identity verification also prevents money laundering, terrorist financing, etc.

Can I use the exchange services without identity verification?

A user without KYC can only use Demo tokens.

Please note: alternatively, Passing KYC verification on WhiteBIT Australia brings the following benefits to our users:

  • access to deposits, withdrawals, and trading.
  • creation and activation of WhiteBIT Codes.
  • account recovery in case of 2FA code loss.

What are AML checks?

Anti-money laundering (AML) checks allow you to check the address for involvement in money laundering. Our users can check the address of the following currencies: BTC, LTC, TRX, USDT(ERC20), ETH (ERC20) and BCH (forks, if the address format is the same, can also be checked).

Has WhiteBIT been independently audited?

WhiteBIT has passed Penetration cybersecurity tests and is in the top 3 on cer.live.

Also, we have passed ISO 27001 standardization and are currently being audited by PCI DSS.

Support

In case of any questions related to the safety of our exchange, you can:

  • Leave a request on our website;
  • Write to the support email: support@whitebit.au;
  • Write to the chat using the button in the lower right corner of the screen.

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