Safety is important when you are dealing with crypto assets. If you are a crypto enthusiast, you must be familiar with news of exchange and protocol hacks. The rise of these hacks has made it important for crypto holders to fund safe exchanges where they will be protected. Woltbit ensures that its users have top security, among other benefits. It is also easy to use as it has a clean interface and user experience. Additionally, it has a customer help desk that attends to the problem of users in record time. These and many more perks make Woltbit the exchange for newbies and older crypto holders.
This review will discuss the advantages and drawbacks of using Woltbit. Our review will provide a balanced view for those who want to begin using the exchange. We will show both sides of the coin so you can make well-informed decisions before you open an account.
Benefits
OTC Desk
Want to buy large volumes of BTC or ETH? Don’t want to buy them on the open market? Woltbit has got a solution for you. The exchange has an OTC desk that facilitates large transactions. It does this through its reliable network of miners, which provide the quantity needed to fill any order. The service is not limited to institutional buyers alone, as individuals who meet the required threshold can purchase the BTC or ETH they need. Call or mail the customer help desk for more details on the required limits and the documents you need to verify your identity during the transaction.
Beginner Friendly
The website is great for crypto newbies, as it has a simple UI and UX design. From the moment you sign up, you are guided through simple processes that help you to set up your account. These processes ensure you can get your account up and running quickly. The exchange does not overwhelm you with too much information at the beginning. It ensures you have only the required information at each onboarding stage and are eased slowly into the crypto world. There is also a customer help desk that new users can reach if they have any questions or complaints.
Multiple Payment Methods
The exchange supports different payment methods. These payment methods will help users to deposit and withdraw cash from the exchange. Woltbit has chosen these payment services because they will give users choices and for their security. The exchange wants all financial transactions on the site to remain secure as users deposit and withdraw funds. Some available payment methods include MasterCard SecureCode, bank transfer, Visa, and Visa Secure. These methods have pros and cons, such as processing fees and transaction speed. Only use payment services you are familiar with for your transactions on the exchange.
Security and Privacy
The exchange is mandated to follow the data protection policies of the EU. Users can rest assured that all collected data is used only to improve the quality of the service and not sold to third-party brokers. In addition, users’ privacy is guaranteed as their personal information is encrypted and protected from hacks and data breaches. Furthermore, users can rest assured that they get the best quality service from Woltbit, and their assets are protected. The exchange is secure and uses top-notch encryption to facilitate a top-down security approach.
Drawbacks
Exchange Fees
The exchange charges a fee of 15%, including VAT. This may come as a shock to many users, as there are exchanges that charge lower fees. The reason for these high fees is the taxation rate in the EU. For Woltbit to keep functioning, it has to remain compliant with EU laws which means it has to charge for its services to match what is required. On the bright side, Woltbit has an unmatched quality of service, which guarantees that you will be satisfied when you use the exchange.
Conclusion
In this review, we have discussed the pros and cons of using Woltbit as your crypto exchange. The platform provides a secure environment for individuals and institutions to buy and sell Bitcoin and Ethereum. Sign up to begin enjoying their wonderful offer.
