Tokens as digital goods of the future

Volodymyr Nosov , CEO of Ukrainian cryptocurrency exchange WhiteBIT

The CEO of Ukrainian cryptocurrency exchange WhiteBIT, Volodymyr Nosov, explained why the company launched its tokens and what bonuses its users will receive from them. Read in the article how WhiteBIT token owners will get more benefits and how the company will ensure the safety of its customers.

In 4 years Ukrainian cryptocurrency exchange WhiteBIT from a Kharkiv-based startup, has grown into the largest cryptocurrency platform in Europe. We now have more than 500 members and show consistently high growth rates, winning the trust of new customers. A few years ago we could not have imagined that WhiteBIT, like the cryptocurrency market in general, could develop so dynamically.

The trend towards digital technology development is already clearly outlined today. They are the future and are gradually becoming part of everyday life for people around the world.

With this understanding and constant concern for our customers, WhiteBIT is taking another global step as part of its overall platform scaling strategy – creating its own platform WBT Sign. The startup process has already begun. On August 14th we opened the first token sale and closed it literally in minutes – the first million WBTs found their owners. For us, this means that we are moving in the right direction.

The advantages of the WhiteBIT token are limited supply and inflation protection

The launch of our own token is an important milestone in the development of WhiteBIT. This tool will bring additional benefits to our users. At the same time, we have done everything to make the WBT token as convenient as possible for experienced crypto traders and newcomers alike.

Exchange tokens made a trial appearance in 2017. They offer owners specific products, services, or discounts. For example, tokens can be used as a method of rewarding market makers that provide liquidity to the exchange.

Due to the parallelization, exchange tokens are comparable to securities, shares of companies. There are shares in Apple, Tesla or the Coca-Cola Company. Where to invest Everyone chooses for themselves based on indicators that are important to them personally.

As for WhiteBIT’s WBT token its main criteria are as follows:

– it is a limited offer of the asset,

– It has high growth potential based on a fixed number of tokens and a weekly burn, WBT token offers its holders a wide range of bonuses and additional features.

The expected recommendation rate, i.e. the advantage, on a WBT token will eventually lie in between 40% and 50%. Overall, we intend to grant 400 million tokens placed on the market and no new ones will be created.

At the same time, 200 million tokens so-called “Treasury Tokens” are made from the total amount. They will be successively released and launched over the next three years. Together, this mechanism protects WBT holders from inflation.

At the same time, WBT holders receive a number of exceptional opportunities and bonuses. These include reduced trading commissions daily anti-money laundering ( AML ) checks and free ERC20/ETH withdrawals.

In order to preserve and promote the “value” of WhiteBIT tokens, the exchange will continuously redeem and burn tokens until the number of tokens on the market is reduced as 50% their original number.

Security is a priority at WhiteBIT

As with other products and services at WhiteBIT, customer safety is our top priority.

WhiteBIT today meets all KYC (Know Your Customer) requirements.

and AML (Anti-Money Laundering) requirements and is one of the top 2 exchanges in the world for security according to an independent review by Hackers. WhiteBIT is rated AAA.

The exchange verifies every new user and automatically determines the risk group. We also use the principles of AML at a high level. This means that platform users are largely protected against dubious transactions involving their assets.

It is important to mention that about 96% of the WhiteBIT platform’s digital funds are stored in cold wallets accessed via a multi-signature system. WAF tools, anti-phishing programs and two-factor authentication offer additional protection against hacker attacks. In the event of force majeure, WhiteBIT has also created its own insurance fund, which is replenished by transaction fees.

Ukrainian WhiteBIT platform has been on the European market for four years and is one of the fastest growing. This is an important indicator to be at least interested in the WBT token. After all, the laws of the cryptocurrency market really do not differ much from the rules and algorithms of the usual market. In other words, it is the growth and stability of a business, in our case a cryptocurrency exchange, that determines its reliability.

I am sure that our users will positively appreciate all the benefits they will get from the launch of WBT tokens. And we will continue to expand the possibilities of our services and make cryptocurrency available to users from all over the world. Tokens as digital goods of the future

Fry Electronics Team

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