The Times Australia
Google AI
Business and Money

Volodymyr Nosov explained why WhiteBIT exchange has launched the token and how users will benefit from it



Volodymyr Nosov, CEO of cryptocurrency exchange WhiteBIT

Digital technology, blockchain in particular, is gradually becoming a familiar part of everyday life for people all over the world. They are the future. This trend of humanity's development is already clearly outlined. Today, one of the key digital assets is the token which is an important component of the cryptocurrency industry and the main feature of which is the additional benefit to the owner. The impact, role and importance of tokens in people's lives will only grow, and tokenisation could become a major trend and investment tool in the future. Recognising this, the largest crypto exchange in Europe, the Ukrainian originated WhiteBIT has launched its own token WBT. This tool will expand opportunities for exchange users to receive additional benefits, preferences and bonuses. The CEO of cryptocurrency exchange WhiteBIT Volodymyr Nosov told about it.

According to him, the creation of WBT's own token is another global step within the platform's overall scaling strategy, the main goal being additional comfort and convenience for users. "We opened the first token sale on 14 August, and closed it literally in minutes - the first million WBTs found their owners. For us, this means we are moving in the right direction. We did everything to make WBT token as easy to use as possible for experienced crypto-traders and newcomers", emphasized CEO of WhiteBIT cryptocurrency exchange.

The main criteria of the WBT token: limited supply of the asset, high growth potential based on a fixed number of tokens and weekly burning, a wide range of bonuses and additional features for token holders.

"The benefits of the WBT token offer the user a completely unique opportunity. The expected referral rate, that is to say - the benefit - on a WBT token will end up being between 40% and 50%. In total, we intend to issue 400 million tokens to the market and no new ones will be created. At the same time, 200 million tokens out of the total will be so-called "treasury tokens". They will be gradually unlocked over the next three years and released on the market. In combination this mechanism will protect WBT holders from inflation. At the same time, WBT holders will receive a number of exceptional features and bonuses. These include reduced trading commissions, daily Anti-Money Laundering (AML) checks and free ERC20/ETH withdrawals," explains Volodymyr Nosov.

"In order to maintain and promote the 'value' of WhiteBIT tokens, the exchange will continuously redeem tokens and burn them until the number of tokens in the market is less than 50% of their initial number.

I am confident that our users will positively appreciate all the benefits they will receive with the launch of WBT tokens. And we will continue to expand the capabilities of our services and make cryptocurrency available to users from all over the world," emphasized the CEO of cryptocurrency exchange WhiteBIT.

Reference: WhiteBIT is the largest cryptocurrency exchange in Europe. It meets all KYC and AML requirements. It is among the top 2 exchanges in the world in terms of security, based on an independent audit by Hacken, and has an AAA rating. The WhiteBIT team has 500 members.

Times Magazine

Narwal Freo Z Ultra Robotic Vacuum and Mop Cleaner

Rating: ★★★★☆ (4.4/5)Category: Premium Robot Vacuum & Mop ComboBest for: Busy households, ha...

Shark launches SteamSpot - the shortcut for everyday floor mess

Shark introduces the Shark SteamSpot Steam Mop, a lightweight steam mop designed to make everyda...

Game Together, Stay Together: Logitech G Reveals Gaming Couples Enjoy Higher Relationship Satisfaction

With Valentine’s Day right around the corner, many lovebirds across Australia are planning for the m...

AI threatens to eat business software – and it could change the way we work

In recent weeks, a range of large “software-as-a-service” companies, including Salesforce[1], Se...

Worried AI means you won’t get a job when you graduate? Here’s what the research says

The head of the International Monetary Fund, Kristalina Georgieva, has warned[1] young people ...

How Managed IT Support Improves Security, Uptime, And Productivity

Managed IT support is a comprehensive, subscription model approach to running and protecting your ...

The Times Features

The Art of the Big Trip: Planning a Seamless Multi-Generational Getaway in Tropical North Queensland

There is a unique magic to the multi-generational holiday. It is a rare opportunity where gr...

Love Without Borders: ‘Second Marriage At First Sight’ Opens Casting Call for Melbourne Singles Willing to Relocate for Romance

Fans of Married At First Sight UK and Married At First Sight Australia are about to see the expe...

Macca’s is bringing pub-style vibes to the menu with the new Bistro Béarnaise Angus range

Two indulgent Aussie Angus burgers – plus the arrival of Kirks Lemon, Lime & Bitters – the  ...

What are your options if you can’t afford to repay your mortgage?

After just three rate cuts in 2025, interest rates have risen again[1] in Australia this year. I...

Small, realistic increases in physical activity shown to significantly reduce risk of early death

Just Five Minutes More a Day Could Prevent Thousands of Deaths, Landmark Study Finds Small, rea...

Inside One Global resorts: The Sydney Stay Hosting This Season of MAFS Australia

As Married At First Sight returns to Australian screens in 2026, viewers are once again getting a ...

Migraine is more than just a headache. A neurologist explains the 4 stages

A migraine attack[1] is not just a “bad headache”. Migraine is a debilitating neurological co...

Marketers: Forget the Black Box. If You Aren't Moving the Needle, What Are You Doing?

Two years ago, I entered the digital marketing space with the mindset of an engineering student ...

Extreme weather growing threat to Australian businesses in storm and fire season

  Australian small businesses are being hit harder than ever by costly disruptions...