WBT Crypto vs Bitcoin
The WhiteBIT token is an exclusive crypto asset utilized within the WhiteBIT platform. It is known as a safe and reliable exchange, facilitating the trading of over 250 crypto pairs, including the WBT to USDT pair. As of June 2023, the WBT value is $4.72. It aims to provide an easy-to-use interface and numerous earning options, suitable for beginners and experienced users.
Functioning as a utility asset, WBT plays a crucial role within the platform, offering many advantages and privileges to clients:
- Fee benefits. Holding WBT grants traders the advantage of reduced trading commissions.
- Increased rate in the referral program.
- Free AML checks
- Access to additional earning programs that are based on the WhiteBITs ecosystem
- Free withdrawals of crypto based on ERC-20.
Now, let’s draw a comparison between the WBT token and Bitcoin, the renowned crypto asset.
BTC vs WBT
Here are some features to compare:
- Value. The WBT price is much lower than BTC’s – $4.72 against $24,990.
- Purpose. WBT predominantly functions as a utility token within the WhiteBIT exchange, offering users advantages such as fee discounts and rewards for holding it. BTC was conceptualized as a decentralized digital currency to facilitate transactions and eliminate the need for middlemen.
- Technological foundations. WBT and BTC operate on distinctive underlying technologies. The WhiteBIT token is built on Ethereum and Tron blockchains, enabling functionalities and interactions within the WhiteBIT exchange. BTC, on the other hand, is founded on a more simplified technology, primarily focused on securing and facilitating transfers.
- Market positioning. BTC has established itself as a pioneering asset, attaining widespread recognition and adoption. It holds the largest market cap and liquidity compared to any other crypto asset. Conversely, the WBT token, being the native token of a specific platform, may possess a more limited market reach. Still, it provides significant advantages within the WhiteBIT ecosystem.
- Utilization scenarios. BTC has emerged as a store of value and a medium of exchange, often referred to as “digital gold”. It serves as a crypto asset and an investment asset. The WBT token, however, possesses a narrower scope of utility, primarily operating within the confines of the WhiteBIT exchange. It delivers benefits to traders and platform participants.
Wrapping up, although WBT and BTC are both cryptos, they serve distinct goals and assume different roles.