Is Wobit Scam or Legit?

Wobit Review – Enjoy Cryptocurrency Trading With This Innovative Platform

Wobit logoIf you are looking for a way to increase your savings or earn an additional income, then becoming an investor may be your best choice. There are many ways to earn money online, however, none of them guarantees as much return as online trading. In fact, it is among the most popular choices for people who want to make money from home, especially since cryptocurrency trading become a trend. So, if you are interested in finding a way to increase your income, then you should consider trading the digital currency.

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Cryptocurrencies are one of the most profitable assets for investment because of its high volatility. You will find many platforms that provide the services for trading cryptocurrencies. Wobit is one such exchange platform that allows traders and investors to buy and sell a variety of these digital coins. As an individual who has experienced trading with different trading firms, I can confidently say that Wobit is among the best cryptocurrency exchanges. It offers services that make cryptocurrency trading immensely easy. So, in this review, I will be talking about some of the most important features of this cryptocurrency exchange.

Broker       WOBIT
Trading Type Cryptocurrency Trading
In-house Platform Yes
Leverage X10
Funding with Crypto Yes
Mining Allowed Yes (Through WOBIT Mining Pool)
Cryptocurrencies Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, etc.
Account Manager Yes
Customer Support 24/7/365 (Phone, Email, Online Form)

Advanced Features Of Wobit

Supports Numerous Cryptocurrencies

The problem with a majority of the cryptocurrency exchanges and brokers these days is that they support a limited number of cryptocurrencies. These firms may claim to provide a diverse range but when you look into it, you find that the diversity ends after a few of the major cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. While there is nothing wrong with trading with a few cryptocurrencies, it brings forward an increased risk of loss since you will be investing large sums on a single currency. Moreover, it also limits your portfolio diversity, especially when you are a new trader.

It is safe to say that very few cryptocurrency exchanges provide a list of assets as extensive as Wobit. This cryptocurrency exchange platform offers all the different kinds of virtual currencies that you can imagine. You can use this diversity to expand your trade portfolio and experience trading in different markets. Another way to take advantage of this wide variety is by spreading out your investments. So, instead of investing a large sum of money on a single currency, you should invest in some major and some smaller ones. This reduces the loss risk if the cryptocurrency markets fluctuate.

Moreover, I was impressed to find that Wobit offers a cryptocurrency mining pool which is not a feature that is common among online exchange platforms. Wobit allows you to mine Bitcoin using its Mining Pool. You can do this by simply signing up on its mining cloud. You will not need to purchase any additional hardware to mine the cryptocurrency.

As you can see, Wobit supports an impressive index of cryptocurrencies which is great for new traders. This allows you to experience different forms of trading while also allowing you to earn profits at a reduced rate of risk.

Diverse Range of Accounts

Online crypto exchanges and trading firms provide multiple account options to accommodate traders from different backgrounds. These account varieties allow traders from different backgrounds to choose the plan which suits them the best. Wobit offers 7 different account types which is a step ahead from the usual four to five account types that most exchanges offer.

The started account which is offered by this cryptocurrency exchange is called the Trial Account and it has an initial deposit requirement of just $300. This is a really impressive value as many trading firms start with very huge values for their beginner accounts. This account is a great choice for those who are new to trading and have no experience at all. What’s even more remarkable is that you are able to access so many great features even with the trial account. The trial account has a very low deposit rate and is a great option for when you are unsure about signing up with a broker. This account will allow you to try out all the features that this exchange platform offers.

The account followed by this is the basic account which has an initial deposit rate of $5,000. This account offers leverage of 1:150 which is an upgrade from the Trial Account which offered leverage of 1:100 which was still impressive. Most of the times, 100 is the largest leverage that a trading platform offers to its traders. The trader account requires a deposit of $10,000 and offers increased features and services than the previous two accounts. Following this is the Pro Plus account which is targeted towards the professional traders. This account offers leverage of 1:250. The VIP account follows the trader account and requires you to deposit $100,000 as the initial sum. Of course, as you can tell from the name, this account is more suitable for professional and more experienced traders. The sixth account type that Wobit offers is called the Millionaire Club and requires a deposit of $500,000. Following this account is the VIP Ultra Account for which you need to deposit an amount of $1,500,000. These accounts have different leverage ratios which increase as you upgrade your accounts. You also get the service of an account manager starting from the basic account.

Now, you may be thinking that these deposit rates are extremely high. And while it is true, you should know that not everyone makes an account for individual trading. Sometimes trading firms open business accounts for multiple traders so these large sums seem affordable in those scenarios. The important thing to notice is that these different account types cater so many traders from different backgrounds. Whether you are a beginner, a professional, or want to open a business trading account, Wobit has a financial plan for you.

Offers Free Cryptocurrency Wallet

Cryptocurrency wallets are a platform for traders and investors to store their blockchains and cryptocurrencies in a secure place. The thing with cryptocurrencies is that they are not a physical asset which means that they need a digital place for storage. You cannot store them on an outside source such as your wallet of a safe. This is where e-wallets come in where e-wallets are a digital platform used for storing digital currencies like Bitcoin and Ethereum. Wobit uses cold storage for storing cryptocurrencies because it is one of the most secure ways of storing virtual funds. A cold storage is one that is not connected to the internet. This gives the e-wallet the extra security and protection that it needs to stay secure. You can trust the Wobit e-wallet service to keep your cryptocurrencies protected and trade with a peaceful mind.

What you should know, if you are new to cryptocurrency trading, is that similar to online exchange platforms, there are numerous e-wallet platforms to choose from. However, you should keep the same rules in mind when you choose an e-wallet that you consider when choosing an online exchange. This includes taking into account its safety protocols and regulatory status, as well as the costs that it offers. This is because all of these e-wallets require you to create an account with them and pay to open your holding account.

With Wobit, you don’t have to worry about finding a separate e-wallet service and open an account on another platform. This is because Wobit itself provides a free e-wallet service. You can use this free service for holding your cryptocurrencies. The online exchange has insured these e-wallet accounts, so even if a hacker was able to get into the system and stole your money, you will be compensated for your loss. Another security measure that Wobit has taken to keep the e-wallets safe is to change the wallet address after every transaction. This keeps hackers from keeping track of your transactions.

The free e-wallet service that Wobit provides is something that not a lot of the online cryptocurrency exchanges offer. This feature saves you from the hassle of finding a completely different e-wallet service provider online, create an account with it, and pay for its services to hold your cryptocurrencies. You can store your virtual currencies in the secure and insured e-wallet provided by Wobit.

Allows OTC Trading

Typically, if a crypto trader is interested in trading cryptocurrencies in bulk, they will have to find a cryptocurrency OTC platform. However, since Wobit supports OTC trading, there is no need to sign up with a separate online platform. You may be wondering about what OTC trading is. Well, let me tell you that OTC stands for Over the Counter and is one of the best features that an online crypto exchange can offer you.

There are many benefits of using OTC trading. When traders or investors want to take advantage of the cryptocurrency market volatility, they want to purchase the digital coins in bulk. However, online exchange platforms don’t have the asset liquidity that allows bulk purchases. This is when OTCs come in. OTCs have huge liquidity ratios for all digital currencies. So, it is easy to buy large amounts of a currency to make profits during periods of high volatility. Without OTCs, the customer would have to wait a few days before their order of the bulk purchase is confirmed by the exchange due to low liquidity. And by the time their order is confirmed, the market value may not be at the position at which they wanted to invest.

Another benefit of OTC trading feature being supported by Wobit is that OTCs accept fiat. You can use fiat to purchase cryptocurrencies on OTCs. Moreover, OTCs ensure the anonymity of the customer so the order depth of the bulk purchase is not visible to other customers. However, if you are new to trading cryptocurrencies, you should be careful when making bulk purchases as it requires a lot of calculation to make them profitable.

Top-notch Trading Platform

As an online trader or investor, you should make sure that the trading platform that the exchange is offering you is of a good quality. This is because once you open an account with the online exchange, your every action as a trader will be via this trading platform. So, if it is not able to perform smoothly and is not equipped with the right tools, then you may have trouble in making the right investment decisions. This is especially important to consider when dealing with assets as volatile as cryptocurrencies. The trading platform should be advanced enough to provide up-to-date information about the market conditions of the digital currency. Make sure that you thoroughly check the performance of the trading platform that is offered and the tools that it is equipped with before making your decision to sign up with an online exchange.

Wobit offers a propriety web-based trading platform which has a great performance. Many people have their doubts about propriety platforms because a lot of the times, they are poorly developed and have a lot of errors. However, the trading platform of Wobit shows through performance that it was developed under great care with the latest technology. Furthermore, the trading platform is equipped with advanced tools that assist you in making profitable investments. Despite the fact that state-of-the-art technology was used to develop the software of this exchange, its interface remains user-friendly. You will have no trouble in accessing and navigating through the advanced features that the platform offers.

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The cutting-edge software used to design the platform ensures that it is able to keep up with the highly volatile nature of the cryptocurrency markets. Being a web trader, the trading platform requires little to no maintenance of the device. So, you don’t have to worry about updating your device’s software regularly or downloading any additional software to the device for the platform to function properly. The web trader also offers mobility and ease of accessibility. You can log in to your account from Wobit’s website from any device as long as it has supports a web browser and has a steady internet connection.

Fully Secure & Regulated

Online traders and investors should never compromise on the security aspect of the trading firm. This is because when you open an account with a firm, you trust it with a lot of confidential information and your money. This confidential information consists of your name, home address, bank information, ID card numbers, passport copies, etc. It takes a certain degree of trust to provide such information to an online platform. Therefore, it is important that these trading firms implement the necessary security protocols to ensure the safety of the user’s information and funds.

Online trading firms and exchanges are frequently targeted by cybercriminals and hackers. So, without the necessary precautions and steps, the trading firm is leaving the user’s information vulnerable to those criminals. You should always take a look at the security protocols the firm is offering because this is something that you should never compromise on. If hackers get access to your information, they could become a victim of identity theft or even targeted attacks.

Wobit has taken an assertive approach and has implemented all the necessary security protocols to ensure that the trading firm is a safe space for traders and investors. The platform uses SSL (Secure Socket Layer) encryption which makes sure that all of your data and online activities are converted into a series of codes and numbers. This makes your information becomes useless to hackers. Furthermore, the exchange platform has implemented two-factor authentication (2FA) to make sure that no one else is accessing your account. The latest software is installed in the system to ensure that its firewall is protected at all times. Regular checkups are made to ensure that there are no errors or flaws in the system. All these protocols keep hackers and unwanted visitors out of the system.

In addition to the security details, Wobit is a fully licensed and regulated exchange platform. If you are unfamiliar with regulations, then let me tell you just how important it is for a firm to be regulated. A regulatory license is a proof that a trading firm is legit and is not a scam in disguise. This is because when a firm is regulated, it is being monitored by a third-party agency. This way if the firm is involved in any illegal activities, the regulatory agency will inform the authorities.

Regulations also require the exchange platform to be compliant with the AML (Anti-Money Laundering) and KYC (Know Your Customer) policies. These policies are implemented for user security and to prevent financial crimes. When you are asked to provide information such as passport copies or identity card numbers, they are due to these policies. As you can see, Wobit has taken all the necessary steps to create a safe and trustworthy trading environment for its clients.

Dependable Client Support

Before you sign up with an online cryptocurrency exchange, you should make sure that it offers dependable customer support. This is important because you may have questions and queries that the FAQs section will not be able to answer everything. And sometimes, you may require technical assistance, especially if you are a new trader. In this case, you need to be able to depend on the customer support department. You can tell the platform’s stance on customer satisfaction from the amount of effort that they put into their customer support department. There are a lot of firms out there that do not pay much attention to their customer support department while still claiming to be oriented towards customer satisfaction.

When you create an account with Wobit, you will be really impressed with the performance quality of its customer support department. Wobit has hired professional staff that is trained to answer all your queries and provide you with the best solutions to your problems in the simplest manner. The friendly yet professional staff at the customer support department makes sure that you feel comfortable in sharing your issue with them. You will find that you don’t have to wait long periods of time before hearing back from them as is the case with a majority of the online trading platforms. The working hours for them are 24/ 7 which means that you can get in touch with them any day of the week, at any hour. These timings work well for all clients of Wobit because people from different time zones use it as their cryptocurrency exchange. When firms have limited working hours, then people in different countries have to wait until the next day to hear back from them. However, when a service is available 24/7, you can count on timely replies.

Wobit has provided various means of communication that you can reach them on. These include multiple email addresses and phone numbers, as well as an online contact form that is available on the website. Since the working hours are 24/7, you don’t have to wait long hours to hear back from them. You can tell that the firm has put in a lot of effort into providing great customer support to traders to keep them satisfied.

The Bottom Line

Now that you have read this review, I am sure that you will agree with me when I say that Wobit is one of the most innovative trading platforms that you can find. The features that were discussed in this review reflect how much the platform prioritizes customer satisfaction. You can find a lot more about what this firm has to offer by visiting Wobit’s website.

If you are new to the trading world, you should be careful to not open an account with a firm before checking its features for yourself. As a rule of thumb, traders are encouraged to be as thorough with their research as possible. This will help them in making the best possible decision for them. If you don’t decide to create an account with this crypto exchange right now, you can always add it to your list of potential firms to check out in the future. I think that Wobit is a crypto exchange that you should experience trading with at least once in your trading career.