These days traders are able to invest in the assets of their choice from the comfort of their homes. Online trading platforms provide traders with all the possible features that they need for making profitable investments.
With the right trading platform, you can become a successful trader and make online trading as a full-time career. Despite the ease that online trading platforms bring to traders, you need to be careful when making your selection. This is because some of these trading platforms are actually fraudulent schemes and scams in disguise. Moreover, not all trading firms are suitable for all traders. Some of them may be more advanced for beginners or too simple for professional traders. So, it is important to find a firm that meets all your requirements to the dot.
Now, there are some firms that are almost suitable for all traders. This means that their services cater to the requirements of new traders as well as professionals. Wobit is one such trading platform. In this article, I will be comparing the top 10 features of this firm with the other trading firms available online. After reading this review, you will be able to see why Wobit is a good choice for most traders.
Top 10 Features of Wobit
1. Propriety Trading Platform
I want to start off by talking about the importance of the trading platform which the firm offers. Now, the trading platform plays an essential role in determining the quality of your trading experience. This is because the trading platform is through which the entire trading process takes place. It is through this platform that you are able to find investment positions and execute trade orders. So, if the quality of the trading platform is subpar, then you should not expect much in regards to your profits.
Wobit offers a propriety trading platform that was developed using state-of-the-art technology. It is important to address that the cryptocurrency market is highly volatile. Therefore, it is important for the trading platform to be able to keep up with the fast fluctuating nature of the asset. The trading platform was developed with cutting-edge technology under the keep eye of experienced traders and developers. This ensures that the trading platform was free from all errors and was ready to provide high-quality performance. You can also access a variety of advanced tools that help in making well-informed and profitable decisions. The best part about this innovative platform is that despite the advanced technology used for its development, it is still easy to use. The interface of the platform is user-friendly and easy to navigate. So, even new traders will not have any trouble in navigating through it.
The trading platform offered by Wobit is in the form of a web trader. A web trader platform is one that is accessed through the firm’s website. You can access your account from any device you want simply by going to the website and logging into your account with your credentials. Furthermore, the web trader doesn’t require you to make any changes to your device such as downloading additional software or upgrading it. It is a very low-maintenance platform that has a great performance and is easy to use.
2. Make Easy Deposits and Withdrawals
Online trading and investments require you to use online banking methods for making deposits to your account. You also need to take out your earnings and withdraw them from your account on the trading firm. So, you have to use online banking methods for these transactions. However, you will find that many firms do not work on improving the quality of these processes. This way you have to undergo long processes for completing every transaction. In addition to the wait for approval, many exchanges and firms charge commissions and fees on deposits and withdrawals. This can be a bit discouraging, especially for new traders, who probably did not earn much from their earlier investments.
Wobit is a customer-oriented exchange which means that it prioritizes customer satisfaction. Keeping this in mind, the firm has tried to make the process of these transactions less time consuming and less complex. To start with, the firm supports several methods of payment including the use of credit and debit cards, and you can also chose to use the method of bank wire transfers for deposits and withdrawals.
Despite being a straightforward process, you will have to provide some identity proofs before your request for withdrawal is approved as per the regulatory requirements. However, since you have already submitted these proofs before, you will not need to provide them before every order of withdrawal. Wobit confirms your request for a withdrawal within 72 hours which is a great time period because most firms and exchanges take from 4 to 5 business days, and sometimes even more. Wobit does not charge commissions and fees on deposits and withdrawals. However, if you request a refund for your deposit, then you will be charged a refund fee. The best thing about this is that this exchange is completely transparent about its commissions and fees and does not charge you any hidden charges.
So, you can easily complete your transaction processes with Wobit as the firm has done its best to provide simple and straightforward processes for them.
3. Free E-Wallet Service
When the trading firm or an exchange offers a free service, then you should definitely not ignore the opportunity. This should definitely be the case when you will have to pay for the service separately if the exchange did not offer a free service. Wobit providing free e-wallet services is an amazing feature that you just cannot ignore. E-wallets are used for storing cryptocurrencies which are a virtual currency. This means that they don’t have a physical form. So, to store your digital currency in a secure space, you need a digital wallet which is an e-wallet.
Similar to exchange platforms, there are many e-wallet service providers that you have to open your account with. You also have to pay a certain amount to verify your e-wallet. Moreover, you also need to make sure that the service provider you are choosing is a safe platform for storing cryptocurrencies. So, the fact that Wobit provides a free service for e-wallets is amazing. It saves you time and money that you will need to invest on a separate e-wallet service.
The e-wallet service that Wobit provides is ensured. This means that if a hacker was able to get into the system to steal your money, you will be compensated for your loss. However, this is very less likely to happen due to the safety precautions that the firm has taken. So, you can use this e-wallet service to store your virtual currencies with a peaceful mind.
4. Supported Instruments of Trade
Wobit is a cryptocurrency exchange that offers a wide range of assets to trade with. The cryptocurrency supports an impressive number of cryptocurrencies. These include the major cryptocurrencies like Bitcoin, Litecoin, Zcash as well as some smaller currencies such as DASH, NEO, NEM, and some others.
The fact of the matter is that this large variety of digital currencies allows traders to invest at a reduced risk. This means that when an exchange supports fewer currencies, the trader will invest larger amounts in each of them as compared to when the trader has many options available. So, if the market value of one currency falls, you will face a smaller loss than what you would have faced if you invested a larger sum in that cryptocurrency.
You will find that in addition to the impressive variety of cryptocurrencies that this broker supports, it also provides you with a mining pool through which you can mine Bitcoin. Mining cryptocurrencies is a difficult task and the fact that Wobit offers it is impressive. So, you can enjoy trading with a lot of different assets with a reduced risk of loss as well as mine your own Bitcoin without having to purchase the additional hardware.
5. Account Options for All
Now, if you have been researching different online crypto exchanges, then you surely would have noticed the feature of multiple account types. This account types are offered to provide a suitable financial plan for traders of different backgrounds. However, the account types that a majority of these online platforms offer range from three to four accounts. This is where Wobit is ahead of the other platforms. This cryptocurrency exchange offers seven different account types to choose from.
The accounts are designed to provide the most accommodating conditions for traders from different backgrounds. And since the account choices are more than usual, more traders can find out trading conditions according to their preferences. The accounts start from the Trail account followed by the basic account, trader account, pro plus account, VIP account, the millionaire club and the VIP Ultra Account.
The initial deposit rate for these accounts start at $300 and end at $1,500,000. However, in between these choices, there are some affordable rates that professional and experienced traders can choose from. The features offered by these accounts increase as you upgrade them. As you can see, many options are offered by Wobit to attract as many traders as they can. You can pick whichever account type suits your needs and situation the best at the moment. You can always upgrade to a better account once you are steady enough in your career.
6. Leveraged Trading
You will be pleased to find out that Wobit offers leverages on the assets that it supports. This means that you can reap the benefits of trading cryptocurrencies with leverages. Leverage is among the best support features that an online trading platform can offer you. So, you may we wondering what is so great about leverages. Well, leverages are the support that the platform puts into your investments. This means that the firm contributes to your investment sum to help you invest in larger assets. This is a great way to reach your financial goals at a faster rate.
Wobit offers varying leverage rates depending on the account type that you choose. These rates start from 1:100 which is already impressive on its own as go as high as 1:300 for the more upgraded accounts. You can benefit a lot from leveraged trading if you know how to use it wisely. As advantageous as it is, trading with leverage comes with its own risk especially when using it with an asset as volatile as cryptocurrencies. So, you should remember to pace yourself when you are using leverages for investing in cryptocurrencies.
7. Uncompromised Security and Proper Regulations
The first thing that anyone who is interested in the online trading business is that they should never compromise on security. Online trading firms and exchanges are a victim of being used as a disguise for scams which is an increasingly common occurrence as the number of online traders increase. Moreover, these trading platforms are prone to attacks from hackers and other cybercriminals because their system holds confidential data of all of their customers as well as has access to their funds. You may have come across many stories about how people lost their money or information to online trading firms. This is because either the firm was a fraudulent scheme to begin with or it had weak security protocols that the hackers easily broke through.
Therefore, you should not compromise on the security protocols and make sure that the online exchange platform provides the best quality of security. Wobit has made sure that its system is secure and impenetrable by hackers by implementing the latest security software. The firm uses 2FA (two-factor authentication) to ensure that no one else is accessing your account. This means that you have to provide physical proof of your identity when logging in to your account. Furthermore, Wobit uses SSL (Secure Socket Layer) encryption which ensures that all of your data is encrypted upon entry. So, even if an unauthorized person is able to access the system, they will not be able to use your information for their own gains.
Wobit is also a fully regulated online exchange. This means that the firm is at an international level of standards for cryptocurrency trading. Being a regulated online exchange firm, Wobit can confidently refute any claims questioning its authenticity. When a firm is regulated, it means that a third-party agency observes all of its tasks and activities. So, the firm cannot interfere with your funds or become involved with illegal acts because the regulatory agency will immediately report any suspicious behavior to the authorities. The firm complies by the AML (Anti-Money Laundering) and KYC (Know Your Customer) policies that prevent illegal accessing of your account. You are required to provide various evidences of existence to ensure that no one else is accessing your account online.
8. Real-time News & Alerts
The cryptocurrency market has undergone major fluctuations ever since it was introduced in 2009. It is considered to be a highly volatile asset because its market value rises as fast as it falls. Traders and investors need to find a way to ride these fluctuations to find the best time for investing. This is why they need to stay up-to-date with the market situation at all times.
Wobit provides real-time news and price alerts to its users. The innovative trading platform of the exchange keeps the traders updated with the market values at all times and informs the trader when good openings are available. Then, based on calculations from other tools, the trader is able to make an investment decision.
9. Hassle-Free Registration
Believe it or not, the sign up process of the online exchange platform that you want to open an account with tells a lot about the firm. Often you will find that for registration, the firm provides a long form for information. Now, two things can happen at this stage. Firstly, new traders may find it complicated to fill the form and if its time consuming, then they will get the same impression for online trading in general. Secondly, if the firm is asking for a lot of information during registration, then the users may not want to continue the registration. This is because it is difficult to trust an online platform with such confidential information.
Since this information is necessary for account verification, good trading firms ask for them at different points. This eases the trader into sharing their information and builds trust. You will be asked to give out information like this before processing your withdrawals or making purchases as a part of the regulatory requirements. However, you should be wary of the firms that ask for detailed information right from the beginning because it could be a scam or a fraudulent scheme in disguise. Many crimes can be committed by using the trader’s confidential information.
Wobit offers a short and straightforward sign up process. It is very easy to tell the quality of the trading platform that you are singing up with from the sign up form. You need to provide basic details such as your full name, email address, account password, your country or residence, and a working phone number. Before clicking the create account icon, you also need to agree to the terms and conditions of the firm. And there you have it, in just a few minutes the first step of the account verification process is complete.
10. Reliable Customer Support
When you sign up with an online exchange platform, you need the surety that you can depend on the customer support services when you need assistance. This is because when you are new to online trading, there are many things that may be unfamiliar or hard to understand. This is when you need the support from the customer service department.
Wobit is a customer-oriented exchange platform which means that it puts a lot of effort into making sure that it offers the best services to its customers. This includes providing reliable customer support. The firm has provided various means of communication for the traders to submit their queries though. These include multiple email addresses, phone numbers, as well as an online message form. The team is responsive 24/7, so you don’t have to wait long hours to hear back from them. Furthermore, the firm has provided an extensive FAQs section that answers a majority of the basic questions that traders may have.
If an exchange does not offer dependable customer support, then it would be smart to stay away from it as you have no means to get in touch with it. When it comes to online platforms related to finance, you should make sure that they provide proper means of communication in case the customer needs their assistance. By providing a reliable customer support department, Wobit ensures its customers that it is a safe trading space.
After reading this article, I am sure you can see that Wobit is better than a majority of the cryptocurrency exchanges available online. It will be safe to say that it is among the best online cryptocurrency exchanges. The quality of the features and services that it offers ensures that traders have a great trading environment. The comparison of Wobit with other firms gives you an insight on what this cryptocurrency exchange offers that others in the field don’t.
Wobit is a great choice for new online traders as well as for experienced traders. If you are a new trader, then I am sure that you will find this comparison very useful. You can use it as a guide for what to expect when you sign up with a new trading firm. However, I am sure that by now, you are curious enough to find out more about this cryptocurrency exchange and sign up with it.