Explain Crypto Term for USDT!

Published 18 January 2024
Explain Crypto Term for USDT!


Can you quickly explain the difference between BTC and ETH? Join a new promotion and stand an opportunity to win a share of the 300 USDT Prize Pool.

Here’s how you can participate:

  1. Register on WhiteBIT for the first time or be already a member, and make sure your identity is verified (KYC).
  2. Follow Us on Instagram or X.
  3. Make a repost of each of the five posts (1st post2nd post, 3rd post, 4th post, 5th post, new links will be added according to publication) of this promotion in your Instagram Stories. Save them in your Highlights under the name “WhiteBIT” and keep them there until the winners are announced, and in the same Instagram Stories, continue the story and explain the term used there. Alternatively, you can use X, quote each of the five tweets (1st tweet2nd tweet, 3rd tweet , 4th tweet, 5th tweet, new links will be added according to publication) of this activity, continue the story, and explain the term used in each of them.
  4. Fill out a Google Form with your WhiteBIT nickname and links to your social media (Instagram or X) and your repost.

20 participants who meet all the Promotion Conditions will get a chance to win 15 USDT each from our prize pool of 300 USDT!

We will choose the best answers and award their authors within 7 days.

Promotion period: the 18th of January 2024 to the 27th of January 2024.

Find detailed participation terms below.

List of winners


The Terms and Conditions of the “Explain Crypto Term” Promotion

The Organizer of the Promotion is WhiteBIT.

The Promotion Period: from 4 p.m. (UTC) on the 18th of January 2024 to 4 p.m. (UTC) on the 27th of January 2024.

The territory of the Promotion: the Promotion takes place in all countries except the Islamic Emirate of Afghanistan, American Samoa, the Virgin Islands of the United States, Guam, the Islamic Republic of Iran, the Republic of Yemen, the State of Libya, the State of Palestine, the Commonwealth of Puerto Rico, the Federal Republic of Somalia, the Democratic People’s Republic of Korea, the Commonwealth of the Northern Mariana Islands, the United States of America, the Syrian Arab Republic, the Republic of the Sudan, the Republic of South Sudan, the «Pridnestrovian Moldavian Republic», the French Republic, the Federal Republic of Germany, the Russian-occupied territories in Georgia, the Turkish Republic of Northern Cyprus, Western Sahara, Ambazonia, the Republic of Kosovo, the Kingdom of Spain, Canada, the Republic of Belarus, the Russian Federation, and the Russian-occupied territories of Ukraine.

Participants must ensure that their participation is not prohibited or restricted by the laws or rules of their jurisdiction. The Organizer reserves the right to verify the eligibility of Participants and may request evidence of residence or location if necessary.

The Promotion aims to promote WhiteBIT services.

Contact the promotion Organizer at support@whitebit.com or through the platform’s chat at https://whitebit.com.

The Promotion is not a game of chance, lottery, gambling service, or contest; these Terms are not a public promise of reward.

Information about the Promotion is provided as an advertisement.

Participants in the Promotion are legal adults from unrestricted countries (i.e., all except those mentioned above) or other individuals who, on lawful grounds, are present in the territory of such countries and have met the following conditions:

  1. First-time signed up for the WhiteBIT website or already signed up and confirmed their identity (KYC verification);
  2. They followed the official WhiteBIT page on Instagram or X;
  3. During the Promotion, made a repost in Instagram Stories of each of the five posts (1st post2nd post, 3rd post, 4th post, 5th post, new links will be added according to publication) of this Promotion, saved those reposts in Highlights under the name “WhiteBIT”, did not delete them until the winners of the Promotion were announced, and in the same Instagram Stories, explained the term used in each of the 5 posts, or quoted each of the five tweets (1st tweet2nd tweet, 3rd tweet , 4th tweet, 5th tweet, new links will be added according to publication) of this activity, explained the term used in each of the 5 tweets.
  4. They filled out a Google form indicating the nickname on the WhiteBIT exchange, links to their social networks (Instagram or X), and a link to the repost in Instagram or X.

The Terms and Conditions of the Promotion must be fulfilled within the Promotion period.

IMPORTANT! During participation in the Promotion, signing up on the exchange multiple times (using multiple accounts) is strictly prohibited. Participants with multiple accounts will be disqualified. Unless otherwise agreed in writing, each Participant may sign up only once (have only one account). The use of multiple accounts (multi-accounts) or collaboration with affiliated users to manipulate orders is strictly prohibited and will result in the closure of all accounts without the owner’s consent. In case multiple accounts are detected, the Organizer reserves the right to close the second created account and any subsequent multi-accounts.

Any personal data of Participants processed for participation in the promotion, marketing relations, advertising relations, tax relations, and accounting relations.

Employees, representatives, or agents of the Organizer and their relatives (first and second degree of kinship) are not eligible to participate in the Promotion. If, at the time of awarding the Prize, it is determined that a person who participated in the Promotion cannot be a Participant according to these Rules, such a person is not entitled to receive the Prize.

Participants who have fulfilled all the Promotion Conditions have the opportunity to become the Winners and win part of the Prize Pool, which equals 300 USDT, — 15 USDT for each Winner.

The maximum number of Promotion Winners is 20 persons.

One Winner can receive only one Prize.

Based on the results of the Promotion for the period from 29.01.2024 to  07.02.2024 inclusive, the Organizer forms a list of Participants who meet the Conditions of the Promotion.

The determination of the Winners of the Promotion will take place on 08.02.2024. The Organizer will select the winners at its discretion among the Participants who have fulfilled the Conditions of the Promotion.

The nicknames of the winners on the WhiteBIT exchange will be published on 09.02.2024 in this article on the WhiteBIT company blog (https://blog.whitebit.com/).

The Organizer credits the Prize to the Winner’s Main balance on the WhiteBIT cryptocurrency exchange within 7 calendar days from the day following the publication of the list of Winners on the WhiteBIT blog to 20.02.2024 inclusively.

The Winner of the Promotion receives the Prize for free. Substitution of the Prize with its monetary equivalent is not provided. The Promotion Winner has no right to demand any other compensation from the Organizer.

The received Prize is not subject to exchange and return.

The Organizer does not assume warranty obligations for the Prize received within this Promotion and under the Conditions specified in these Rules.

In case of non-receipt of the Prize, if the Winner was entitled to it, or in case of any other difficulties, the Winner should contact online support on the website https://whitebit.com, email support@whitebit.com, or in the chat no later than the 29.02.2024, inclusive. If the Winner is not contacted by 29.02.2024, especially regarding the non-receipt of the Prize, the Winner loses the right to receive it.

The Winner determined, as a result of the Promotion, cannot transfer the right to receive the Prize to third parties.

The Promotion Winner has the right to refuse the Prize.

The Organizer does not compensate the Winner for any additional expenses associated with receiving the Prize. The taxation of the income of the Winner who received the Prize is carried out in accordance with the current legislation of the Winner’s country.

By participating in the Promotion, the Participant understands and agrees that any voluntarily provided information, including the Participant’s personal data, may be processed by the Organizer or third parties involved by them to conduct the Promotion, perform all necessary actions related to it (including, but not limited to, informing about the results of the Promotion in advertising, as well as other methods), and also further possible sending of information to the Participant, including advertising, about the Organizer’s next events/contests/promotions/draws. By accepting the Data requirements of the Terms, Participants hereby consent to such processing of personal data for the purpose of using it by the Organizer and/or other authorized persons of the Organizer and confirm their full understanding and necessary awareness of the purposes of processing the provided information, as well as the privacy policy: https://whitebit.com/privacy-policy.

At the same time, Participants in the Promotion confirm their consent to the use of their names without any material compensation, as well as the agreement to comply with other Rules of the Promotion. Winners confirm their consent to provide promotional interviews about participating in the Promotion in mass media, including radio and television, as well as to be photographed for the production of graphic materials without receiving any monetary compensation. All exclusive intellectual property rights to such interviews and photos will belong to the Organizer.

The Organizer reserves the right to make changes to the Conditions and Terms of the Promotion. In case of any changes, information about this will be provided on the website https://whitebit.com and on the Organizer’s social networks.

The Organizer does not enter into disputes that may arise between the Participants of the Promotion regarding the Prize. In situations that allow ambiguous interpretations of these Rules and/or questions not regulated by these Rules, the Organizer of the Promotion makes the final decision in accordance with the requirements of the current legislation. At the same time, the decision of the Organizer of the Promotion is final and not subject to appeal.

The Organizer of the Promotion is not responsible for the operation of telecommunication services, postal communication, and email services, for any errors of employees of any enterprises/institutions/organizations that provide information exchange between the Participants of the Promotion and the Organizer, or circumstances due to which postal shipments did not arrive, arrived late, were lost or damaged; or due to which the Promotion Participant did not receive the corresponding Prize.