You are probably all familiar with the term “deposit/staking", which banks use to use your money to finance various loans, investments, etc., where in most cases, if you deposit money for 10 years, you cannot withdraw it during that period.
In this article, we will cover the term ‘deposit’ when it comes to cryptocurrencies on the WhiteBIT exchange platform, although you have other options, i.e. other exchanges such as Binance, CEX, etc. WhiteBIT, however, gives the best return on time deposits.
The first and basic question that anyone who plans this type of investment should ask is “How secure are my cryptocurrencies at that exchange”?
When it comes to WhiteBIT, the exchange we aimed to list our RXC community project on, we have to understand that it is an EU-regulated exchange that received very good ratings on the https://cer.live crypto exchange certification system.
WhiteBIT exchange is in second place in the world, in terms of all parameters / factors such as system security, secured user money, which you can certainly verify yourself on the https://cer.live page.
The most important parameter in my opinion is that all funds are secured, and there are systems in place that allows to protect user data and crypto in case of a hack attempt.
Considering what kind of exchange it is, we can responsibly say that it is a very safe investment platform.
Many exchange offices offer the option of “term deposit” or as it is now called, the more modern “staking” of your funds, which they use to lend to customers who use Long / Short positions on margin trade systems.
When someone wants to trade with leverage (WhiteBIT) on WhiteBIT, they do it very simply and pay daily interest on the amount they borrowed, and it is these borrowed funds that come from people who provide liquidity on “SMART Staking " and thus made income without trading or risking their funds in some other way.
Unlike many exchanges, which can be confirmed, WhiteBIT gives the highest percentage on their SMART staking, where we have the case that when you deposit BTC for one year, you get a 28% return.
Here we see an example on the WhiteBIT exchange, where you can start Smart staking
10 days 0.4%,
20 days 1%
30 days 1.75%
90 days 6%
180 days 13%
360 days 28%
Unlike traditional staking on banks, you can withdraw time deposits whenever you want, but you lose the right to profit, but considering that you may need the funds urgently, this type of investment is very interesting and advanced.
The WhiteBIT exchange offers staking of USDT / BTC / ETH and a lot of other cryptocurrencies used for leverage trading, where we got a great news that they will add RXC to their Smart Staking.
The first and most important step is to register at WhiteBIT Exchange and do a KYC verification, which is optional, but I recommend it for the very reason that it leaves a trace of your identity as a user who has deposited funds in case of any hypothetical problems.
The second step is security, I can’t stress enough how much it takes to protect your WhiteBIT account from hackers or any kind of unauthorized access to funds.
Which means the email you use to register on WhiteBIT must be secured with 2FA protection (google authenticator / yubikey hardware key or similar).
Then, also secure your WhiteBIT account with 2FA Google Authenticator, after which you can access the Smart Staking system on WhiteBIT.
The steps for activating the WhiteBIT Smart staking are very simple, where you first send the funds in this case where we tested, we deposited the USDT for 10 days, where the return is 2.6 USDT.
I think you have a clear view, choose how many days you want to stake, enter the amount you want to invest and click on the “Stake” button and the deposit starts automatically.
This method is good if someone keeps their funds in their wallet and they do nothing.
NOTE: Crypto.ba is not responsible for your funds on WhiteBIT, the article is written in an informative sense, because most people are not even aware that someone who deposits 1 Bitcoin for a year, has a return of 0.28 Bitcoin no matter what its price, what is considered a great profit because you don’t think about trading, the stock market or anything like that.
Visit WhiteBIT Smart staking on