WoltBit Review

WoltBit  Review – one of the most diverse cryptocurrency exchanges in the world

WoltBit  is one of the most diverse cryptocurrency exchanges in the world. They provide superb liquidity for the majority of altcoins, which can be exchanged for Bitcoin.

Verification on WoltBit 

Creating an account on WoltBit  is quite simple and can be done in less than 5 minutes. The user provides the necessary information and must click on the confirmation email in order to complete the creation of an account.

The verification process is similar to verification on other exchanges, and it has two levels.

The first level of verification requires verification by e-mail, first and last name as well as country of residence. Once completed, the daily withdrawal is set at US $ 2000 and margin trading is enabled.

The second level of verification requires personal information, address, telephone number and scanning of the photo ID (passport, national ID card, driver’s license) and photo of the user holding the license. ” a photo ID. Staff may take a few days to review the submission and verify the account. In the event of a problem, a user will be notified to contact support regarding the verification.

Once completed, this level of verification allows a daily withdrawal limit of US $ 25,000.

There is also a third level of verification which can provide limits greater than US $ 25,000. Additional information on requirements is not publicly available. Users or businesses should therefore contact support.

The exchange does support FIAT currencies. Deposits are only possible in digital currencies. The closest thing to the FIAT currency is Tether USD, which is basically a US dollar placed on the Blockchain.

Support for digital currencies, on the other hand, is huge:

And over 80 other popular digital currencies are available for trading on WoltBit .

WoltBit  Fees

The trading platform uses a standard manufacturer-taker model that encourages market liquidity by rewarding manufacturers with lower fees. It also results in better market allocation, as it motivates manufacturers to outbid each other. This model is especially important for WoltBit  as it is one of the most diverse exchanges with over 80 supported cryptocurrencies and it is a major challenge to provide good liquidity for all.

 

 

Trade

The trading screen on the exchange is really very smart and unique. It offers multiple time frames, multiple option candlesticks, and Fibonacci levels and Bollinger bands. This trading view is available for all 200 trading pairs.

Each market has its own box and all of the trading pairs listed below. Over the past year, WoltBit  has accounted for over 99% of Tether trading volume and remains the only market with high liquidity for Tether trading.

There are three main types of order:

These commands are available for all currency pairs.

Ease of use

The interface is superb and easy to use. The change between over 200 trading pairs is quick and the website looks great.

WoltBit  have no apps for Android and iOS, but the website is responsive and it looks good on mobile devices. Some third-party apps were created with the WoltBit  API, but the majority of users agree that these apps cannot be trusted, especially when it comes to trading for cash.

WoltBit  Customer Support

The exchange offers support via email, ticket and directly from the troll box. The fastest way to get the answer is to ask the moderators right in the troll box, but they are notorious for their delays. Support isn’t one of the benefits of  WoltBit  – they take too long to respond and the responses are often not complete. There is also a knowledge base, but it is not exhaustive and covers only basic issues.

security

Like other trading platforms, WoltBit  offers two-factor authentication for login and opt-out permissions. Additionally, email confirmation is required for withdrawals. The exchange claims the majority of client funds are kept in cold rooms and that they monitor the platform 24/7 for any unusual activity.

Conclusion 

WoltBit  is a great exchange with huge support for altcoins and a very competitive fee schedule.

WoltBit  is one of the few exchanges to offer trading altcoins for FIAT currencies, making it a valuable market. Very reliable and affordable exchange