Wunderbit Review: All-In-One Crypto Trading Platform

Cryptocurrency is still in its infancy. However, we are starting to see new innovations every day. Wunderbit is one such service. It allows you to automate your trading to a large extent and offers various other ways for you to make a profit without knowing the ins and outs of trading.

Let’s take a deeper look at the service to see whether it differentiates itself from its competitors and whether it is deserving of your money.

Overview

Wunderbit is not a wallet service. Instead, it links to various different crypto exchanges. Currently, it has support for major exchanges such as Binance, FTX, Deribit, bybit, and KUCOIN. However, it is in the process of adding new exchanges, and you can soon expect BitMEX, Bitpanda Pro, and Kraken among many others.

As of right now, Wunderbit only offers support for a few major cryptocurrencies. It is possible for you to purchase BTC, ETH, XLM, BNB, XRP, BCH, and LTC.

Wunderbit is a fairly new company, as it was formed only in 2018. It sets itself apart by offering you various automation tools that can trade for you. Not only that, but it is also a platform that connects investors with traders, hoping to build long-lasting profitable relationships.

Wunderbit is based in Estonia and it seems to have an impressive track record for someone so new. It has gained a lot of media traction, even being covered by Forbes. The business is model is also fairly uncomplicated. Wunderbit offers commission-free trading but does charge a small fee on certain transactions. There is also a profit-sharing mechanism that is used in certain cases as we explore later.

Wunderbit seems to offer a lot of features packed into a single platform. This makes Wunderbit unique amongst the plethora of exchanges that currently form the crypto market. Let’s take a deeper look at some of its features.

Features

Wunderbit is quite different from your average crypto exchange. Here is a list of all the main features that it offers.

  • Ability to generate trading signals based on your own parameters.
  • A trading bot to automatically trade based on those signals. Wunderbit also provides you an easy way to backtest any strategy that you may have devised.
  • Integration with numerous exchanges (including Binance and Binance futures).
  • Purchase and sell cryptocurrency with fiat money using Wunderbit Exchange.
  • Quick verification and quick transactions (transactions usually take less than 10 minutes).
  • Unlimited APIs for both investors as well as traders.
  • Advanced social trading features (copy-trading allows you to copy some of the best traders out there and do their trades on your own portfolio).
  • Wunderbit Commerce allows merchants to accept payments in Bitcoin.
  • Complete integration with Trading View.
  • Option for traders to find investors and manage their capital in a safe and secure manner.
  • An OTC-desk that can make sure that price movements do not affect larger transactions.

Mobile Apps

As of right now, Wunderbit does not have any apps available for either iOS or Android. There is a game called ‘Wunderbit Millionaire’ on the Google Play Store that allows you to trade cryptocurrency with up to 3 other players, but it does not seem to be linked to Wunderbit’s trading platform or exchange.

Not having mobile apps does give Wunderbit’s competitors a slight advantage over it. However, it is not difficult to see that setting up advanced trading features such as an automated bot will be almost impossible on a mobile phone. Still, it would have been nice to see a basic app that could allow us to monitor our trades at the very least.

How to Use Wunderbit

Head to the Wunderbit website and click on sign up. Then, fill in all your details and complete the registration process. Once that is done, you will need to go to your e-mail and verify your address before you are able to log in.

Once you log in, you will be at your dashboard. From here, you need to first link an exchange or a wallet through which you can trade crypto. Even if you use fiat currency to purchase crypto, you will still need a wallet to transfer that coin. 

Head to the settings menu to link an exchange of your choice. You can either register on an exchange from here or link an existing account through an API. Create a key on the platform of your choice (for example Binance), and link it to Wunderbit. Here, you can see a throwaway Binance account being used. 

After that, you can either add funds to your wallet through a credit card, Skrill, or any other payment method that Wunderbit supports. You can also head to the Trading Terminal to begin trading or head to the Bots section in order to create a bot. You can also avail the social features through the copy-trading tab. More tips and tricks on how to best utilize Wunderbit can be found on their Youtube channel.

Is Wunderbit Safe?

Wunderbit is a new platform still in its infancy. However, keeping its short history in mind, it is probably one of the safest crypto platforms that exist today.

The main thing that you should know is that Wunderbit does not store any cryptocurrency. Instead, you connect to the platform using APIs and it manages your trades on other exchanges. All permissions can be set by you, and you can limit the bot’s access as much as you want. For example, you can prevent the bot from making any withdrawals on your behalf.

Even when investors are linked with traders that can manage their portfolios, the traders only have access to the portfolio through an API. This means that it is impossible for both Wunderbit or any trader on the platform to move your money without your consent.

Transparency is another security feature that is relentlessly touted by the Wunderbit team. The past history of all traders that have been approved to manage capital is visible. Any trades that they make on your behalf will be recorded and viewable by you whenever you want. 

Also, there are no fixed contracts. You can stop using Wunderbit whenever you like and disconnect your APIs to prevent the service from accessing your wallets.

Lastly, Wunderbit also provides standard security features such as Two-Factor Authentication.

Wunderbit Pricing

Wunderbit does not have subscriptions, and it does not restrict its traders or its investors in any way. Everyone who registers on the platforms gets to usel their full services without having to pay anything.

However, Wunderbit does charge a withdrawal fee of 0.0005 BTC per BTC withdrawal. This is quite a competitive fee compared to other exchanges and wallets. When depositing coins, remember that there may be additional charges based on the payment method used.

Apart from this, those who are utilizing the copy-trading service will have to pay a commission on profits to the trader whose strategies they are using. This commission is determined by the trader. If you are an investor, then you must also share 30% of your profits with Wunderbit.

Wunderbit Review: Conclusion

Wunderbit is a platform that is equally useful for both crypto novices as well as advanced traders. If you are someone looking to invest with high returns, you can look for a trader with a stellar track record. If you are an advanced cryptocurrency trader, you can use the automation techniques to increase your returns, as well as find investors to increase your ‘Assets Under Management’.

With top-notch security features, a great pricing model, and proper integration with numerous exchanges, Wunderbit is a great service for anyone who wants to use automated trading bots, copy-trading, or even simply purchase/sell cryptocurrency for fiat currency.