It is the goal of everyone to achieve financial freedom and independence in life. And as a result of this, people try and look for various means to achieve this goal. However, it has now become apparent that one of the easiest and quickest ways to achieve financial freedom is through investments. As we all know, there are lots of investments out there and a very lucrative investment today will be an investment into the cryptocurrency market.
The cryptocurrency market has helped a lot of traders and investors achieve financial freedom since its inception in 2009. It has proven not to be a bubble as so many analysts called it and has become a leading money market all over the world. The influence cryptocurrencies now have on how we carry on businesses and transactions has increased drastically. This is because there’s been a mainstream adoption of various cryptocurrencies worldwide seeing new investors and traders come into the cryptocurrency world.
This influx of new investors and traders into the cryptocurrency market is an indication that a lot of people now recognize the vast opportunities present in the market. The influx has now seen major cryptocurrencies and various altcoins being exchanged in various exchange platforms around the world. Exchange platforms are digital marketplaces that enable investors and traders to buy and sell various digital coins. They are gateways into the cryptocurrency market and generally serve as intermediaries between sellers and buyers of cryptocurrencies.
The way the financial market is structured, it is impossible to do away with exchange platforms and that is why investors and traders must choose an exchange platform to partner with on their journey to financial freedom. And since the goal of every trader is to accomplish success financially, they must then choose a right and proper exchange platform that will cater to all their trading needs. One of the most important tools an investor must possess in the cryptocurrency market is information; Information is key to amassing wealth in the cryptocurrency market. Because of this, you must strive as a trader to have the right and adequate information as that will allow you to make informed decisions in the course of trading.
The question now is where do you get the right information? The primary source of information for traders in the cryptocurrency market is from exchange platforms they’ve decided to sign up with. The information given by an exchange platform must be accurate and timely enough so traders can make informed decisions as to when due. For traders to get the right information they must then get a proper exchange platform to provide this information as well as carter for most of their other trading needs.
Getting a proper exchange platform in the cryptocurrency market has now become difficult as there are now numerous exchange platforms promising heaven on earth. A lot of these platforms are mediocre and scams looking to rip unsuspecting investors of their hard-earned money. To then get a legitimate and proper exchange platform, you will have to carry out in-depth research into the benefits, features, and workings of quite several exchange platforms before you can decide on which one that best caters to your trading needs.
Frankly, the research you will need to carry out can get overwhelming hence we will be doing that for you so you can have enough time to invest in learning more about the cryptocurrency market. We have brought together a comprehensive review on legitimate and proper brokers you can make use of in the cryptocurrency market and one of them is the WOBIT exchange platform.
This particular review will be about the WOBIT exchange platform and we will be discussing its services, benefits, features, and overall workings of the exchange platform.
| Exchange Platform | WOBIT |
| Website | https://wobit.io/ |
| Security | Secure Socket Layer (SSL) technology, Anti-Money Laundering (AML) policy, and Know Your Customer (KYC) policy |
| Trading platform | Web-based platform |
| Trading assets | Bitcoin, Bitcoin Cash, Ethereum, Zcash, Litecoin, Monero, and so on |
| Payment method | Wire transfer and Credit or Debit card |
| Customer support | Email, Telephone and Customer section |
WOBIT is considered as one of the reputable and revolutionary cryptocurrency exchanges in the cryptocurrency world. The platform was developed by a group of financial and technical professionals who have a full understanding of the cryptocurrency markets.
The WOBIT exchange platform is highly customer-oriented in the offering of its services to its customers. The goal of the exchange platform is to make available the necessary trading tools and a facilitating environment for their clients to achieve success. They have also made sure the environment is safe enough to carry out various transactions at very affordable prices.
A broad pack of services is made available to investors and traders that make WOBIT their number one exchange platform. These services include OTC trading for increased liquidity, a robust and user-friendly platform, and standard security measures. WOBIT offers a great platform that is suitable for traders both newbies and professionals alike in the cryptocurrency market. Let’s have a proper look at the features and benefits the WOBIT exchange platform is offering that makes it exceptional.
OTC Trading
Quite a several investors and traders prefer to buy physical cryptocurrency since they want to hold it. On the other hand, a large number of investors go into the market looking to take advantage of the volatility of the market price hence it is not required of them to sell and buy cryptocurrencies physically. This is an aspect where Over The Counter (OTC) trading comes into play. Through WOBIT, investors and traders can buy and sell Ethereum and Bitcoin from Over The Counter (OTC). This kind of trading enables traders to seize opportunities that present themselves in marker price volatility without having to purchase the digital coin(s)
One of the biggest challenges with cryptocurrency exchange platforms is the high liquidity that they fail to provide coupled with the extreme volatility involved. This often causes some degree of difficulty especially when investors want to buy cryptocurrency in bulk and it is not accessible straight away. It usually takes a lot of time for an exchange platform to meet up on bulk requests which consequently affect the buyer since the market price may have changed several times
However, because exchange platforms don’t offer enough anonymity, bulk orders can instantly cause a huge fluctuation in the price of the digital coin. And this is why Over The Counter (OTC) trading is quite appealing as it does not have any of these challenges. As an investor, you can then make use of the website’s OTC trading to carry out bulk transactions while taking advantage of the platform’s high liquidity.
Security Protocol
Investors and traders, (both newbies and professionals) consider security as a primary factor to consider before choosing an exchange platform. This is so because cyberattacks and hacks from hackers have come to be a menace in the world of cryptocurrency. Fraudulent schemes and scams are now very rampant due to the decentralized and unregulated nature of the cryptocurrency market. This has seen a lot of investors have lost their funds and investments to these hacks and as a result of the lack of proper security measures established by their chosen exchange platform.
Recognizing these security concerns and burdens investors and traders have, WOBIT has then become assertive and foresight ad and has established well-grounded security protocols and measures to protect its clients against these hacks and various scams
WOBIT has taken full responsibility for the security of all personal information provided by its clients on its website. The exchange platform has established the Secure Socket Layer (SSL) encryption on its website to secure all sensitive and personal information submitted on the website.
Asides from the Secure Socket Layer (SSL) encryption, WOBIT is a regulated and licensed exchange platform, which implies that it complies with the international standards about cryptocurrency exchanges. These legislations mandate crypto exchange platforms to follow the Anti-Money Laundering (AML) policy and Know Your Customer (KYC) policy.
These policies aim to make sure the identity of all investors that sign up with WOBIT is well verified and to curb the platform from being utilized for financial crimes and illegal activities. Agreement with these regulations implies that clients have to submit some specific documents for identification. These documents include; proof of identity, proof of payment, and proof of residence.
As an extra layer of security, WOBIT also established the 2FA (two-factor authentication) on its website. The goal is to safeguard clients’ trading account and deter hackers from hacking them. Asides from these security measures, the exchange platform has its privacy policy to reassure clients and customers that all information shared on the website won’t be communicated to a third party. WOBIT will only request the needed information to efficiently provide its services to its clients. The exchange platform only holds on to information for as long as it is useful and deleted after use.
Trading Platform
Another important factor to consider before choosing an exchange platform is the trading platform offered by such an exchange platform. This is because the trading platform is one of the critical and primary features an exchange platform will offer.
It is critical in the sense that the entire trading activities are carried out on the trading platform.
A trading platform is a software that is used for the execution of trades, monitoring of volatile market trends, and incorporated with standard trading tools. All these are made available on the trading platforms to assist traders and investors make successful and smooth trades. And this is why the trading platform must be of standard quality.
To enjoy these quality features, you must then choose an exchange platform with an established trading platform equipped with the latest, advanced technology and standard trading tools. Furthermore, the trading platform must be user-friendly and very easy to navigate for both newbies and professionals. And this is exactly what WOBIT has achieved.
The exchange platform made use of state-of-the-art technology in building its trading platform. Even with the highly sophisticated technology, it is still very simple to operate by all kinds of investors irrespective of their trading experience level. The trading platform has a user-friendly interface and is completely a web-based platform needing no download or installation before use. The trading platform can be accessed easily with an internet-enabled device and trading can commence immediately after login.
Trading Option
The number of digital coins offered by an exchange platform is also a factor to consider before making a choice. The fact is most exchange platforms have several cryptocurrency listed on their trading platform. However, the issue is most exchange platforms only offer the commonly traded cryptocurrencies. Investors and traders who prefer to trade only the major cryptocurrencies mostly love to opt-in for these exchange platforms.
However, for the sake of diversification and risk management, a lot of investors prefer to choose an exchange platform that offers a wide variety of digital coins. If you’re that type of investor, then WOBIT is the ideal platform for you. As a new investor, you might ask, what is the meaning of diversification?
Diversification involves the method of spreading your investment into various asset classes to primarily reduce risk during trades. This implies that a loss in a trade doesn’t translate into a loss of your total investment.
WOBIT as an exchange platform offers a variety of digital coins asides the popular crypto like Bitcoin and Ethereum. Other digital coins offered by WOBIT include Litecoin, Bitcoin Cash, and Zcash. However, exploring the asset index of the exchange platform will see you discover some cryptocurrency that is privacy-centered. An example is Monero (XMR) which is a very popular privacy coin. To add to this WOBIT further went ahead to list other privacy coins such as NEM, DASH, Ox, NEO, IOTA, and so on. The availability of this wide variety of cryptocurrencies allows for great flexibility by investors in terms of diversification of investments.
Deposits and Withdrawal
Before you can start trading in the cryptocurrency market, you must first deposit some funds into your trading account with a chosen exchange platform. Investors are required to deposit fiat currency into the trading account to be able to transact.
How then do clients fund their trading accounts?
A decent exchange platform offers its customers various payment methods to pick from that is best convenient for them. This is what WOBIT offers its clients. The exchange platform allows its clients to make use of debit or credit cards such as Mastercard and Visa, or bank wire transfer. Customers can always switch between these payment methods as a matter of convenience or preference.
Withdrawal and depositing of funds are quite simple and straightforward with WOBIT provided the trading account has been verified. To verify a trading account, clients will have to submit the necessary documents and have them approved. On the WOBIT trading platform, the deposit is mostly instant irrespective of the payment option used. However, in terms of withdrawal, the exchange platform mandates its clients to fill and submit a form and see their request approved within 3 days.
For refunds, terms and conditions usually apply and must be met before funds are returned. Refunds usually take place when a transaction is not approved or cancelled before approval. However, if the request has been approved, it can not be cancelled.
Customer Support
The primary reason why an investor will choose an exchange platform is to receive support from such an exchange platform. Therefore, an exchange platform with poor or no customer support is no exchange platform at all.
WOBIT has established various methods to assist its clients whenever they have a complaint or need assistance. The exchange platform has a team of leading professionals and top experts ready to offer support at all times. Customers can get in touch with the exchange’s representatives through various support channels via phone calls and email.
Aside from these, customers can also go to the Contact Us section on the website’s website to get in touch with an agent or representative of the exchange platform. The agents are very professional and customer friendly, always ready to help no matter the complaint.
Final Thought
A lot has been said about the features, services, and overall workings of the WOBIT exchange platform and it is apparent from this review that the exchange platform prioritizes smooth and secure trading over all other things.
The trading experience and features it provides its customers across the globe is really a thing to admire. It has great customer support, a user-friendly interface, the latest security measures, and vast trading options. It is then valid to acknowledge that WOBIT is a top-quality exchange platform traders and investors can bank on as their trading partner. WOBIT is quite unique as its customer-based orientation has given it an edge over other exchange platforms in the cryptocurrency market.