WhiteBIT, a crypto exchange based in Vilnius, Lithuania, has launched WB Check, a new tool designed to simplify the process of transferring digital assets across different wallets and platforms. This innovative tool aims to make sending assets easier, even for recipients who do not have a WhiteBIT account.
According to a report, these checks are valid for a period of five years, allowing the recipient ample time to claim the amount at their convenience. The procedure is straightforward: the sender selects the desired amount and currency, and the recipient simply needs to provide their wallet details to receive the funds instantly.
Simplifying Crypto Transfers
WB Check is specifically designed to address common challenges that can slow down digital asset transfers. Traditionally, sending cryptocurrency often involves complex negotiations regarding wallet addresses or waiting for verification processes, which can be particularly cumbersome when distributing project rewards or reimbursing expenses. WhiteBIT developed WB Check to overcome these obstacles, enabling instant transfers without requiring any additional steps or prior registration.
Volodymyr Nosov, Founder and President of the W Group ecosystem, stated, "WB Check continues our work on making digital asset tools more convenient and accessible for everyday use." He emphasized that users should not be inconvenienced by having to switch wallets or undergo lengthy procedures simply to receive funds.
Nosov further elaborated on the company's vision, saying, "Our goal is to develop solutions that support financial autonomy, encourage broader adoption of digital assets, and help shape a more mature and user-oriented financial culture."
How the WB Check Works
The WB Check tool offers a high degree of flexibility, featuring two distinct security levels:
- •Revocable WB Checks provide the sender with the option to cancel the check at any point before the recipient successfully withdraws the funds.
- •Irrevocable WB Checks require a six-digit access code and, once created, cannot be canceled by the sender.
These checks can be easily shared via a link, email, or a QR code, facilitating seamless asset distribution across different time zones or outside of standard business hours. The recipient is responsible for entering their own wallet details, which significantly reduces the likelihood of errors.
The process for using WB Check is as follows:
- To create a WB Check, navigate to "Products" → "U Finance" → "WB Checks." Choose the desired amount and select a security level: Revocable (no password required, sender can cancel before recipient withdraws) or Irrevocable (requires a 6-digit access code, cannot be canceled after creation).
- Share the WB Check via link, email, or by printing a PDF/QR code.
- The recipient claims the assets by entering their wallet address, and the funds are received instantly.
Practical Uses for Everyone
The WB Check functionality offers a wide range of practical applications. It can be utilized for distributing rewards or making payments following events, facilitating the return or transfer of funds without requiring the recipient to create an account, or gifting cryptocurrency to individuals new to the digital asset space who have not yet selected a preferred platform. All transfers are designed to be instant and secure, with the ability for recipients to claim their assets for up to five years.
WhiteBIT has announced that the WB Check is now available to its users and can be employed with supported wallets and exchanges, subject to local regulations.