First and Foremost – Is Wobit Scam or Legit?
Most of you who have arrived to our blog today probably are curious about one main thing – you want to know if Wobit is a scam or not. Well rest assured that Wobit is not a scam!
Just like most crypto exchanges and trading platforms Wobit has some negative reviews and complaints on various forums and social networks but calling it a scam would be a lie. Why? Well some traders that lost their money trading or had a problem with compliance or verification or KYC tend to jump to conclusion too fast, branding a trading platform a scam because they did not get the services that they were expecting or did not make the fortunes that they dream about.
From our perspective (and we have the proof if you keep reading) Wobit is a pretty decent platform and we were able to make a deposit relatively fast, make some trades (mostly winning ones because we are good traders) and when we asked to make a withdrawal it was also done in a timely fashion. Now you might ask why are we writing this review now? Well yes we will be adding an affiliate link in this review in a few places and we will also warn you that you need to do your own research and that trading is always a risk but mainly we are writing this review because Wobit is a good platform that deserves getting checked out by some experienced traders like ourselves.
As stated earlier, within this review there will be an affiliate link and we will be getting a small commission if you choose to click the link and deposit with Wobit, and you have to always take into consideration the fact that just like any other high risk investment you could loose the invested money – but – and this is written totally honestly, cryptocurrencies are currently turning hundreds of people into millionaires on a daily basis and the Wobit trading platform IS a good place to start.
Wobit Review – Introduction
Wobit Leveraged Crypto Trading
Wobit is a crypto trading platform with a leveraged trading offer for multiple cryptocurrencies, if you don’t know what leveraged trading is then you might be a newbie to trading, if you are a newbie then you can check out this video which can easily be found on youtube: How Leveraged Trading Works
Wobit Cryptocurrency Trading Offer
Cryptocurrencies are digital currencies which unlike “fiat” currencies – are decentralized. If you don’t know about cryptocurrencies yet and would like to learn more we suggest visiting the Investopedia guide [investopedia.com] for cryptocurrencies which will teach you all about cryptocurrencies, blockchain, different types of crypto, and more, also we can recommend reading “Cryptocurrencies as an Investment” by Joe Tenebruso, which can give you further insights.
So Wobit offers traders and platform with an easy way to deposit fiat or cryptocurrencies and trade or swap them through CFDs or Over the Counter trading (for verified traders) and also gives traders leverage, as stated earlier. This means that the trading is high risk for newbies that don’t understand that being over leveraged can quickly wipe out your entire account, but it is also good news for experienced day traders and scalpers that know how to make profits on extra volatile trading days. Wobit offers its traders withdrawal to crypto wallets in BTC, meaning that a trader can withdraw their balance to ay types of BTC wallet at any time, given they need to wait a few days for the withdrawal to be processed.
Wobit offers several types of cryptocurrencies which can be traded, swapped or held for long HODL type trades and investments. Why would you need them if you just want to HODL? Well because of the Wobit security and insurance policies, meaning it may be safer that a 3rd party which is insured holds your cryptocurrencies for you, instead of holding them in a independent wallet.
Wobit currently offers 192 cryptocurrency pairs including Tether, which means that the US Dollar can also be used (by using tether) for pairing with dozens of cryptocurrencies.
Some of the Top Cryptocurrencies Available on Wobit.io:
Binance Coin (BNB)
USD Coin (USDC)
Binance USD (BUSD)
Bitcoin Cash (BCH)
Wrapped Bitcoin (WBTC)
Internet Computer (ICP)
FTX Token (FTT)
Ethereum Classic (ETC)
Theta Network (THETA)
Bitcoin Cash ABC (BCHA)
Crypto.com Coin (CRO)
Lido Staked Ether (STETH)
Hedera Hashgraph (HBAR)
Axie Infinity (AXS)
And as we promised, our affiliate link:
Trading with WOBIT – Why It’s a Complete Crypto Trading Experience
Just because you are trying to be a part of a new financial market does not mean you have to expect any less than those who are trading in the conventional and oldest financial markets. You can’t even say that cryptocurrencies are completely new anymore because they have been around for over a decade now. Bitcoin is the pioneering digital currency followed by Ethereum. However, in 2021, you have thousands of different cryptocurrencies that serve different purposes. The number of people who want to trade cryptocurrencies has been increasing steadily too.
With this increase in the popularity of digital currencies, you must have noticed a great rise in the online platforms as well that provide trading services. I was once new in the digital currency trading market and learned with the passage of time. Today, I have reached a point where I can help you start your trading career and make the most of it. I can also help you with things that usually push new traders in the wrong direction. I don’t want you to sign up with the wrong platform or use techniques that will not help you at all.
At the same time, I want to be able to tell you the things that matter the most when you start trading. To keep you on the safe side and help you get the best experience of crypto trading, I am telling you about WOBIT.
|Trading Type||Cryptocurrency Trading|
|Funding with Crypto||Yes|
|Mining Allowed||Yes (Through WOBIT Mining Pool)|
|Cryptocurrencies||Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, etc.|
|Customer Support||24/7/365 (Phone, Email, Online Form)|
No to Money Laundering
You can’t even think about signing up with a company that allows people to use its platform for money laundering. As sad as it may sound, there are certain entities that might not pay attention to this problem. They just want to make money and they do this by allowing even the most suspicious people on their platforms. I have to tell you here that money launderers use all the platforms they can to hide the money they have stolen from people. The less security there is around a platform, the easier it is for them to make an entry.
That’s why I always recommend online traders to avoid signing up with companies that make signups extremely easy. Signups should not be easy because this indicates a lack of security measures. When they are not there, anyone can sign up with the company and sabotage the integrity of the platform. However, I am sure you will have the peace of mind when you trade with WOBIT. You can see right on the website that the adherence to the KYC policy is there to prevent money launderers from signing up with the company.
This policy requires that you provide only the most accurate details of your bank. The name that you are providing to the broker should match the name that appears on the card you are providing the information of. Furthermore, if you have used a particular credit card for depositing funds in your account, you will have to withdraw the funds on this same credit card. You can’t get the money on any other card or account than the one you have given to the company for depositing funds. This way, money launderers are prevented from signing up with WOBIT.
No to Identity Theft
How does identity theft take place? And once someone has stolen someone’s information, how do they use it to their advantage? These are the two things that you have to understand in details to protect your information. Firstly, there is something that you have only half the control of, which is signing up with the business after confirming these details. So, you have to confirm that they have proper measures in place to protect the information you give them. There are two ways WOBIT is taking care of your safety and preventing identity theft.
Firstly, if you sign up with the company, you will notice that you have to provide a lot of details right off the bat. You have to give information about your identification. This has to come from a document that has been issued to you from your government. In addition to that, you will also have to send the picture of your identification card to the company. Once you have done that, the company will make sure that all the details are accurate. Once confirmed, they will let you use their trading platform for trading. Now, all the information that you provide will be encrypted.
Encryption is there to protect your information from any prying eyes. You will be startled to know that there are more people trying to steal information from you than you may realize. Once you are connected to the internet, you are in the reach of everyone else who is connected to the internet. However, WOBIT makes sure to encrypt every bit of data that you provide on the website, hence preventing any identity theft. If someone tries to sign up on the website with your information, WOBIT will know due to the KYC policy, which stands for Know Your Customer.
Trade When You Want
There are no restrictions how you want to trade when you sign up with WOBIT. This might not be a big problem for you but if you are someone like me who has signed up with companies in the past, you can tell that this factor matters a lot. It was a thing of the past when you could only trade from your computer. Yes, computers are great devices, but you can’t carry your desktop computer with you wherever you go. In today’s world, people are more interested in doing things on their mobile phones. So, do you get to sign up with a company that can let you trade on your phone?
Yes, you will love the fact that the trading platform you are getting from WOBIT has been designed by the company. When a company designs the trading platform, you know it really understands what trading is all about. On the other hand, most other companies provide you with a software that they borrow from third parties. They really don’t have any say in the changes to those softwares. On the other hand, you have WOBIT with its own software that it can make changes to whenever it wants. So, when you give some feedback, you know you are talking to the people who can make changes.
The best thing about this software is that you can design everything according to your needs. You can customize the platform and make it yours. Furthermore, I am sure you will not have to spend too much time on learning the software and how its components work. You can use it on your Android phone or the iPhone that you have just bought. You can even use it effectively on your computer. Or, if you are from the group that likes to carry a tablet, you will be able to trade on that as well.
Trade with Money That’s Safe
Don’t be afraid to deposit your funds with WOBIT because they will go in the safest accounts you can imagine. You see, not all trading accounts are safe. When you sign up with an online company for trading, you have to deposit some funds before you can start trading. This is the money you use for all your trades. However, the problem is that not all online firms that provide trading services will put your money in safe places. What is a safe place you may ask? Well, it is a place where your money only belongs to you and cannot be accessed by other people. So, in some cases, the money goes into the same account where the broker is keeping their money.
In other words, the two monies are mixed and the online trading service provider can use your money for its advantage. That happens when you sign up with the wrong people. However, you are in safe hands when you sign up with this team. WOBIT has made sure to follow all the standards of the online trading industry. As a crypto trading services provider, the company has created accounts for your funds only. These accounts are there for all the money that you deposit in your accounts, not the money that the broker is maintaining. Another important to know here is that the banks are usually regulated.
Trade or Invest
You will not get this particular opportunity and choice everywhere. I am alarmed at the fact that so many online platforms that provide you with cryptocurrency trading are still sticking to the basics. They are not thinking about offering you anything completely out of the box. What they are doing has been done over and over. Other companies that let you trade assets in other markets, such as Forex, Stock Exchange, etc. also provide you with similar services. I had always expected something different as a crypto trader and I think WOBIT delivered that in the best way possible.
The company lets you start your trading accounts so you can make money from trading. However, if you want to become an investor, you can do that as well. You just have to deposit your cryptocurrencies in your online account with WOBIT and keep them there for some time. After you have completed the period that has been defined by the company, you will qualify to get a profit on your deposits. The deposits can be great depending on the amount of digital coins you are holding in your account. Sometimes, this particular activity is also called staking. You just hold onto to some coins and let the broker take care of them for you.
So, if you want to be a part of the trading process actively, I think you should go with the basic trading account. This account is extremely easy for you to open. Just pick an account, deposit the minimum amount, and start trading. Or, you can go with the other account that allows you to invest your digital currencies. You can use these digital currencies for earning profits on a quarterly or yearly basis. You can call the company to get more information on how you will make money on the digital currencies that you are holding in your account.
Get Loans When You Need Them
The money that is just lying there is as good as nothing. Your money is only valuable when you can obtain something of value with it. If you can’t use it, it is no different than the dirt on the floor. Now, the problem is that many people have digital coins in their possession. They want to make money with these digital coins by holding on to them. Of course, after some time, they expect these coins to increase in value, giving them a profit eventually. However, for as long as the money is there in their wallet, they can’t really do anything.
If you are in the same situation, you are going to love something that WOBIT has to offer. So, the online trading platform is offering you a chance to use your digital currency for getting some cash in your hand. When you sign up with WOBIT, you have the option to deposit the digital coins that you are holding and getting a loan on that. Of course, it is your money so you can decide how much loan you want. You can get a loan that you can easily repay. This will allow you to fulfil your instant needs while also keeping your digital currency in your possession once you return the loaned amount.
I think I have a seen only a one or two more platforms where you can get this particular service. It is quite an amazing offer from the online trading platforms. However, most online crypto traders are not aware of this amazing offering. Since WOBIT wants the best for you, it is offering you this amazing option so you can be a part of the online cryptocurrency trading industry permanently.
Learn the Art of Trading Crypto
Don’t ever make the mistake of jumping into something without learning how to do it. Would you jump in the sea if you did not know how to swim? If no, how you can take a chance with your money? As a trader, you have to make sure that you know what you are doing. You must understand the mechanics that make the financial market run. You have o know the dynamics that keep the values of the assets moving up and down. Based on these things, you should have enough knowledge to make the right predictions and make money on your trades.
Of course, who is going to teach you all of that? You can’t really learn all of those strategies from your textbooks, and that’s a pity. However, you have several online platforms and resources from where, you can get all the information you need about online trading. There is no doubt that other online platforms also provide you with all the education that you need for trading, but I find WOBIT to be different from most. What I like the most about all the training material from this company is that it focuses solely on cryptocurrency trading and the techniques used within.
You know, that’s really something that makes sense to me. With other platforms, I don’t get why they offer information about generic trading when you are supposed to trade cryptocurrencies. When you sign up with WOBIT, you will notice that all the education is about trading cryptocurrencies. If you are looking to get some basic knowledge on digital currencies, you can learn all of that from this platform. At the same time, you have all the one-on-one training that you are looking for available for you. Learn through videos or ebooks or whichever method makes most sense to you. Attend webinars to listen to the industry experts on the latest news and views on trading.
Have an Account Manager by Your Side
This thing has always annoyed me a lot about other online platforms. So, when you sign up with them, they tell you that learning trading before you do it is very important. Okay, I understand that point. After that, they tell you that you will enjoy a lot of different perks and incentives for signing up with them. Alright, I understand that point as well. And then comes the account manager factor. When you look at the trading accounts they offer, you will notice that account managers are usually provided to only the experienced traders that sign up with these platforms.
Well, do you really think that only a new trader can use the services of an account manager? Don’t you think it is the other way around? I mean, I think it is the new traders who need help the most. What happens most of the time is that these websites offer you the feature of the account manager only when you sign up with an expensive account. That’s not the case with WOBIT. The trading services providing firm has made sure that you can enjoy the company of an expert by your side as soon as you sign up without worrying about the account you pick.
One must not forget that WOBIT is not the regular crypto trading platform. You can do a lot of things here. Not to mention what I told you earlier, that you can make money by simply depositing your cryptocurrencies and staking them. So, this is a place where you are literally investing your money. If you don’t want to be a part of trading actively, you can just pick one of these options. Again, how will you decide which option is the best for you? Well, that’s when you will enjoy the services of the account manager.
Professional Customer Support
There is nothing wrong with having someone to help you when you are in need. I can tell you from experience that even if you have been trading for many years, you will still run into problems that will require some professional to take care of things. Sometimes, you might notice that your trading platform is not giving you the latest information from the market. There might be a delay in the system that might cause you to see the prices from many minutes ago. That can be fatal for your trades, so you have to make sure that everything is working fine.
In addition to that, you might need to ask a few questions about your trading account as well. There are so many things associated with your deposits and withdrawals that I consider it best to talk to someone from the company to get clarification. Can you deposit the currency that belongs to your country? Can you use the credit card of your spouse if you have a joint account? Is there a possibility for you to transfer funds in your account from your debit card? These are just some basic questions. When you start trading, you will notice that there is a lot more than you have to ask.
You will not be disappointed from the customer support of this company. You have a phone number on the website that you can use to call the professionals for asking for help. You also have an email for those instances when you are not in a hurry but still need help. What you are going to love the most is that these professionals are there to help you 24/7. Yes, that’s what I call true customer support.
Now, I am sure that you have some good idea why I consider my experience with WOBIT a complete crypto trading experience. I think you will go through the same feelings when you sign up with this broker. Do keep in mind that it is strictly for those who want to trade cryptocurrencies. If you are looking to trade other instruments from other financial markets, you will have to sign up with a different platform.