How Do Cryptocurrency Transactions Work on WhiteBIT?
In this article, you will learn how to work with transactions on our exchange efficiently and securely. Depositing and withdrawing crypto assets is one of the most common challenges for newcomers entering the crypto space. To protect you from mistakes and save your time, we have prepared a clear breakdown of the entire deposit and withdrawal process.
How to deposit funds
To deposit funds into your wallet on our exchange, follow these steps:
Go to the Balances - Wallet section (in the mobile app, open the Wallet section) and click the "Deposit" button next to the required cryptocurrency.
Select the "Address" method.
Select your wallet network.
Copy the address or use the QR code.
Make sure you specified the correct recipient address on the sender's platform, and confirm the transfer.
More deposit options can be found in the article "How do I make my first deposit?".
Where to find transaction history
After depositing, you can track your transaction. To do this, go to Balances — History. This section displays a table of your transactions containing the following data:
TXID (Transaction ID) — a unique identifier for your transaction on our platform. You can provide it when contacting customer support for a quick search of your transfer.
Created — the date and time the transaction was created on our platform (in UTC time zone).
Amount — the volume of cryptocurrency transferred.
Fee — the amount you paid during the transfer.
Status — an indicator of your transfer's state (for example: "Successful", "Canceled", "Pending", "Unconfirmed", "Not Credited", "Awaiting Confirmation", "In Confirmation Process").
Transaction details
Click on a transaction to open a window with its details. Here you will see the transaction type, crediting date, hash, address, and explorer link. Click "View Information" to go to the explorer website. There, you can check the recipient's address, transfer amount, and number of network confirmations - this information is especially useful when depositing.
More details can be found in the article "The History Page".
How to withdraw cryptocurrency
To withdraw funds, follow these steps:
Go to the Balances - Wallet section. Make sure the desired asset is on the Main Balance.
Find the required currency and click the "Withdraw" button.
Select the withdrawal network and the currency for paying the fee. Paste the recipient's address and specify the withdrawal amount, then click "Continue".
Confirm the withdrawal using the email code and 2FA (if two-factor authentication is enabled). Enter the code into the corresponding field.
Please note: the code you receive in your email is valid for 180 seconds. If a Passkey is activated on your account, entering an email code is not required.
You can track your withdrawal status on the History page under the Withdrawal tab. Upon withdrawal, funds are deducted from the Main Balance. All your withdrawals are displayed in this section. The page contains the same information as the deposits section, but additionally specifies the withdrawal source (for example, web version, app, or API).
What to pay attention to when depositing
Selecting the correct network: some cryptocurrencies (e.g., USDT) support transfers across multiple networks. Always carefully check that the selected network matches the copied address before confirming the transfer.
Using a Memo: to deposit certain coins (e.g., GRAM, XRP, XLM, ATOM), specifying a Memo is mandatory. This is a special identifier in the deposit window that helps the system credit funds directly to your account.
Please note: if you sent funds without specifying a Memo, your deposit will not be credited automatically. In this case, contact our support team at support@whitebit.com and provide the link to the transaction in the explorer.
Minimum deposit amount: make sure your transfer amount exceeds the minimum limit; otherwise, the funds will not be credited. All current limits and fees can be found on the Fees page.
Network maintenance: sometimes certain networks may be unavailable due to technical maintenance. You can check network status on the System Page page or in our Telegram channel. If a network is closed, wait until technical maintenance concludes. You can also enable email notifications by clicking on the unavailable network or token.
Number of network confirmations: for successful crediting, your transaction must receive the required number of network confirmations. You can find out the minimum number of confirmations on the System Page page and compare it with the data in your explorer. If there are not enough confirmations yet, wait until the transaction receives the required amount.
What to pay attention to when withdrawing
When withdrawing funds, be sure to check the following details:
Minimum withdrawal amount: make sure your transfer amount exceeds the minimum limit; otherwise, the operation will not be executed. Current limits can be found on the Fees page.
Network status: check whether the network you need is closed for technical maintenance. You can track status updates in our Telegram channel or directly on the withdrawal page of the selected cryptocurrency.
Using a Memo: always check the recipient platform's requirements. If the platform does not require this identifier, be sure to check the corresponding box in the withdrawal window to proceed without a Memo.
Transfer confirmation: to complete the operation, you will need an email code (valid for 180 seconds) and a 2FA code from the Authenticator app.
Please note: if you have set up a Passkey on your account, entering an email code is not required.
Tracking withdrawal status
After confirmation, your transaction will appear on the History page under the Withdrawal tab with a "Pending" status. At this stage, the transfer is being processed, after which it enters the blockchain. As soon as the transaction receives the required number of network confirmations, the funds will arrive at the recipient's balance. In the transaction details, you will find its hash — a unique code used to track the transfer in the corresponding block explorer. When the funds are successfully withdrawn, you will receive a system email message and a notification in the mobile app (if notifications are enabled).
How to verify network authenticity
To operate securely and ensure you are interacting with the correct asset, go to the Wallet section. Next to the name (ticker) of the desired coin, you will see a chain icon. Hover over it to view all networks supported for this coin on our platform. Click on one of the networks to go to the block explorer. The page for the coin's original smart contract will open there. Additionally, in the explorer, you can check whether the recipient address belongs to this network simply by entering it into the search field.