Whaleclub was(!) an online trading platform that enables users to trade the financial markets using cryptocurrencies.
Whaleclub was founded in 2014 by former banker Perry Steegen. Originally, it acted as a forum for bitcoin trade ideas generated primarily from other communities like Teamspeak and TradingView. However, that changed in 2015 when a new management team took over running of the platform and turned it into a trading platform. The exchange is present in 190 countries, enabling traders from around the globe to trade in cryptocurrencies such as bitcoin with ease.
Registration and Deposit Bonuses
While the trading platform’s name may suggest that “whales” (investors with very deep pockets) are the exclusive users of the platform, the reality is that anyone can trade on Whaleclub with any amount of capital they see fit.
Users can take advantage of the fact that there is no minimum deposit required for signing up and more importantly, the process is anonymous. Traders are not required to upload any documents or provide any personal information but instead only require an email address to register. Apart from the email address, users only need to input a username and set a password. A confirmation email will be sent upon registration and once a user has affirmed the details he can sign on to the site and begin trading.
Currently, Whaleclub offers generous bonuses for users who make deposits after signing up. Customers can be eligible for up to 30 percent bonus depending on the amount deposited. Deposits can be made in Bitcoin (BTC), Ether (ETH), Litecoin (LTH) and Dash (DASH). For beginners, the bonus is gradually added to their trading volumes until the bonus amount is fully paid out.
Also, bonus payments can be made on trades that generate losses and thus can be considered as a refund of up to 30 percent on negative trades. Bonus payments are made in real-time to customer balances, who receive a cashback notification on the user interface. Since the platform does not accept fiat money all operations are processed in bitcoin. Withdrawals are processed manually at set times of the day in line with strict protocols that are put in place to protect user funds.
Demo Account and User Interface
In addition, to get a feel for the platform, beginners can access the free practice account by clicking the ‘View Demo’ tab on the site’s landing page. With a demo account, beginners can test all options and understand the functionalities without the chance of losing money. Trading in demo mode means using a fictional balance to make orders and execute transactions on live trading activity. Users can switch between demo mode and real trading from the dashboard.
The Whaleclub user interface has been simplified with every step explained in detail to enable traders to execute trades immediately. The user-friendly interface is fast and intuitive. To deposit money into their Whaleclub accounts, users need to sign in and then proceed to the ‘blue deposit button’ at the bottom right of the main page. Once you select the BTC option a pop-up page will appear displaying your personal bitcoin deposit address. The address may change so it is imperative for users to countercheck before making any deposits.
Withdrawing funds from a Whaleclub account is a simple and straightforward process. On the right side of the same page, there is drop down menu with a number of options. Among them is a ‘withdraw’ tab, which when clicked on leads to a pop-up dialogue box that requires you to input your bitcoin wallet address and the amount you want to withdraw. Once that is completed, click on the ‘Withdraw’ tab and the order will be executed.
Trading Pairs and Order Management Options
To start a new trade, a user has to select the market on the left top down menu. The cryptocurrency pairs available on the platform are:
Once a trading pair has been selected a user can click on the blue ‘new trade’ tab to open the pop-up window. Therein, they can choose to buy and sell, the amount, the price level and whether or not to leverage the trade. Once the order has been placed, a user can click on the corresponding signs within the order management section. The section allows them to add additional settings to an order such as ‘take profit’ levels or ‘trailing stop loss.’
Here are some of the order types available on the platform:
- Market order: Buy and sell at the current market price
- Limit order: This is an order placed to execute a trade at a certain price. The order appears instantly within the exchange’s orderbook.
- Take-profit order: place a sell order once a certain level of profit is achieved.
- Buy/sell stop order: Trade at a certain price, but the order to buy or sell will only be placed in the orderbook when a certain price level has been achieved, which is an additional setting.
- Stop-loss order: The order protects a users position from higher losses. He or she can place an emergency sell order should the price drop below a set limit.
Users can view and amend their positions in the positions section unless they are already being filled.
There are no fees charged for deposits, trades, balances or inactivity. The only fees charged are margin trading fees and a withdrawal fee of 0.001 BTC. The platform offers up to 200x leverage on FX currencies such as EUR/USD and 50x leverage on other markets like stocks, commodities, and cryptocurrencies. The trading platform allows users to choose the amount of leverage they need before opening a position. Leverage enables users to multiply their buying power since they are able to control large amounts of money with very little money down.
Whaleclub boasts of an excellent security system that is yet to report of any breaches at the trading platform. Apart from manually processing client’s withdrawals, their funds are being kept in cold storage to prevent loss of any coins if the system was hacked. Having said that, it is still advisable for traders to withdraw their bitcoins to external wallets when they are not actively trading on the platform.
Mobile Version, Tools and Customer Support
The trading platform has a mobile version, which is automatically loaded when you access the site on your smartphone. The app operates best on versions of Android 7 Nougat, iOS 10 and Windows 10 Mobile. Also, they are a number of useful tools for technical analysis for bitcoin trading on the site. Traders can use charts that are embedded from tradingview.com. The most commonly used tools are Fibonacci levels and trendlines.
Moreover, the support team on Whaleclub is very responsive and usually thorough with its answers. However, they do not support phone or email messages. Instead, clients have to obtain tickets and wait for the customer care response. In addition, the company provides an extensive knowledge base for general inquiries and guides to help beginners.
- Anonymous registration
- Free practice account for beginners
- No trade execution fees
- Simple User Interface
- Margin trading enabled
- Secure system and offline cryptocurrency storage
- No minimum deposit
- Good customer support
- Mobile version available
- Cryptocurrency only deposits, no fiat currency is accepted
- Relatively high margin trading fees
Editors note: Whaleclub has shut its doors and is no longer operational.
Coinfinity Card Wallet Review: Should You Use This Cold Storage Device?
The Coinfinity Card Wallet is a unique cold storage solution produced in Austria. This Coinfinity Card Wallet review will explore what it is and whether you should use it to store your bitcoin.
What is the Card Wallet?
The Card Wallet is a cold storage device developed by Bitcoin broker Coinfinity and the Austrian State Printing House. It allows users to safely store bitcoin (BTC) in a tamper-proof card, long term.
Unlike online wallets that can get hacked, the Card Wallet is offline, thereby, protecting users’ digital assets from online attacks. Moreover, it’s easier to use than most hardware wallets which typically require technical knowledge to set up, and regular updates.
The Card Wallet is available for purchase on its website or at Bitcoin broker Coinfinity’s physical office in Graz, Austria. The wallet’s creators have developed two separate wallets for bitcoin, retailing at € 39,90.
Keep in mind that the Card Wallet is for long-term storage. Therefore, it’s not ideal for the regular use of crypto assets. Although the Card wallet looks like a debit or credit card, you cannot use it at a point-of-sale terminal because it doesn’t have a magnetic stripe or chip.
How Does the Card Wallet Work?
Upon receiving the Card Wallet, you’ll notice that the wallet’s address is printed on the card’s surface. You can use this address to send BTC from a bitcoin exchange or another wallet to the Coinfinity Card Wallet.
The private key is printed on the back of the card but sealed for security purposes. Don’t remove the seal since the private key enables you to unlock your coins should you ever need to transfer or sell them. If you leave it exposed, someone else could use it to steal your cryptocurrency.
A step-by-step process of transferring coins from a Card Wallet
Here’s how you can transfer your coins from a Coinfinity Card Wallet.
- First, get instructions from your wallet app provider on how to empty private keys using the sweep function.
- Once you have the guide, go to a safe place where you can transfer the coins from the Card wallet to an online wallet app. For instance, avoid places with cameras that could pick up your wallet’s private key. Also, use a secure and virus-free device.
- Open the wallet app and initiate the private key import.
- Scratch off the seal to view the Card Wallet’s private key.
- Scan the QR code to import your private key. The wallet will activate the sweep function. If this doesn’t happen, start it manually.
- If you can, set a high transaction fee so that your transaction can be confirmed as quickly as possible.
- Reseal the private key with a Chainlock Visual Cover or opaque tape. Don’t forget to back it up before resealing.
- Check the wallet app for the successful transfer of your coins. If your assets are in the wallet app, it means your Card Wallet is empty. Additionally, it indicates that your coins are now under a different public key (wallet address). Nonetheless, the private key remains the same.
You must not use the Card Wallet after private key importation because its offline security will be lost. As a result, you’ll need a new Card Wallet for long-term storage. However, you can maintain the offline security of the Card Wallet by using the provider’s coin transfer service.
Card Wallet’s security experts import the private key on an air-gapped offline computer, maintaining the offline security of the Card Wallet. You can contact Card Wallet’s customer support to request this service.
How Does Card Wallet Keep Your Funds Secure?
The Card Wallet’s developers use Secure Entropy Technology (SET) to randomly generate private keys. The wallets are also manufactured in an isolated offline system in a highly secure room of the Austrian State Printing House.
The cards’ private keys are sealed before leaving the production machine and erased. Therefore, the workers inside the room never see the private keys, ensuring privacy and security for Card Wallet users.
Should You Use the Coinfinity Card Wallet?
Card Wallet is affordable and maintains a high level of security thanks to the SET method that the manufacturers use to generate private keys.
The Austrian State Printing House has more than 200 years of experience producing security and identity documents with exceptional security standards. This guarantees the Card Wallet users nothing but the best security.
Moreover, the Card Wallet is easy to use since it doesn’t require a technical setup process or any setup at all. The private key importation procedure is also pretty straightforward, and anyone can do it. To get your hands on a Card Wallet, click here.
Buroka Review: How to Buy Bitcoin on Nigeria’s Newest Bitcoin Exchange
Buroka is a new breed of cryptocurrency exchange for Africa! Currently operating in Nigeria, Buroka was designed to fulfill the needs of modern Africans. Buroka allows customers to buy and sell Bitcoin with Naira via Local Transfers and cash deposits at the bank. In this Buroka review, you will learn more about the exchange and how you can use it to buy bitcoin in Nigeria.
How to Buy Bitcoin on Buroka
Step 1: Account Creation
To create an account, visit Buroka.com and hit the “Register” button. This will lead you to a page where you will be asked to fill in your personal information, including your name, email address, and password. Like any other serious exchange, Boruka will ask you for your ID, Proof of Address, and to take a selfie with your ID to eliminate fraud.
Step 2: Fund Your Account
Funding your account on the platform is straightforward. You can deposit either via bank transfer or at any bank branch. Make sure to use a unique reference code given to you by Buroka deposit system.
Step 3: Buying and Selling BTC
Once your deposit has been credited to your account you can immediately buy your Bitcoin. The buying and selling tab is located on the top right corner of the dashboard. There you can input the amount of bitcoin you want to buy. Once you do that, you then click on the “BUY BTC” button.
Step 4: Storing Your BTC
After buying BTC, Buroka provides users with the option of either storing bitcoin on the platform in a BitGo wallet or any other wallet of their choice.
Currently, Buroka only supports bitcoin (BTC). However, the exchange plans to include other cryptocurrencies going forward.
Buroka exchange makes use of Two-Factor Authentication (2FA). 2FA provides an extra layer of protection for users. With the 2FA in place, an extra piece of information is needed before login into the platform or making any withdrawals.
In addition, Buroka’s platform is also protected using the latest security technology, including web-socket and API protocols that allow for a fast and secure order processing. Buroka also makes use of a well-updated SSL certificate, which makes it easy to detect a phishing attempt.
To further ensure that clients’ funds are secure, Buroka operates segregated accounts. These accounts are held with trusted banks so that clients can enjoy an extra layer of security provided by the banking system.
Buroka is a relatively new Bitcoin exchange with a well-designed, user-friendly interface. The Bitcoin trading platform provides several deposit options, which is attractive for Nigerian Bitcoin traders, as well as competitive market rates for both buyers and sellers.
If you are looking to buy or sell bitcoin in Nigeria, you can give Buroka a try.
Gunbot Review: A Premier Crypto Trading Bot
Gunbot is a cryptocurrency trading bot that enables traders to execute trading strategies in a fully-automated fashion. In this Gunbot review, we will explore the features of the popular crypto trading software to help you decide whether this trading bot is right for you.
What is Gunbot?
Most traders spend countless hours placing manual orders. Conversely, automated bot trading allows you to trade at all times and even make money while you sleep. Gunbot is an application that makes it easier for traders to make automated trades.
Gunbot is a cryptocurrency trading bot that can trade BTC with any pairs. It uses the highs and lows, to decide whether to sell or buy. The popular trading bot launched in 2016 by creator, Gunther De Niro.
It currently supports ten of the biggest global cryptocurrency exchanges, including:
- Coinbase Pro
The platform supports Windows, macOS, and Linux. In addition, Gunbot has a finite number of licenses that will get exhausted, making the tool unavailable to new investors. The finite number of licenses is to prevent an ‘overcrowded market” and maintain a competitive advantage.
How Gunbot Works
Gunbot allows you to add assets for trades through an API key you receive from your exchange of choice. You will then need to configure the bot based on your trading preferences.
To start trading, you can configure your own trading strategies or choose from existing trading strategies like Step Gain, PingPong, 1000Trades, Supergun, and Bollinger Bands.
After successfully connecting your assets and selecting your trading preferences, the bot runs automatically.
The video above provides a step-by-step guide on how Gunbot works and how you can get started with trading.
Gunbot offers precoded strategies for traders. That is to say, the application comes with trading strategies already embedded. This feature is very useful for beginners who are not used to automated trading. It allows them to try out various strategies combined or alone.
What’s more, Gunbot offers high customisation options. The platform offers you multiple options for trading, using EMA Love, Trend Watcher, Candlesticks, and more. Furthermore, the app allows you to test and set parameters that give you the freedom to try out different strategies.
Users interested in additional features can also purchase add ons. For instance, the Crypto Slight add on allows you to track your profits while the TradingView add-on aids Gunbot to execute selling and buying alerts from traders from TradingView.
In addition, Gunbot has an easy-to-use and intuitive user interface. The platform makes it easy to track your assets and to control trading preferences.
Due to the volatile nature of trading, active support for such applications is very necessary. According to the site, Gunbot.shop provides every user with a personalised support assistant. According to the platform’s site, Gunbot offers personalized 1 on 1 support, including remote support via Teamviewer.
Gunbot is a paid application that comes with different packages. The highest-priced package costs 0.125 BTC and the lowest costs 0.02 BTC.
The Starter package has limitations compared to the standard license. For example, you can use only one trading strategy and the pack does not include the CryptoSight add-on. This package suits absolute beginners who want to try out automated trading. The GunBot Starter package costs 0.02 BTC.
For more experienced traders, Gunbot offers more high-level options. The standard license will allow you to trade on one market only. The pro edition will allow you to trade on three markets while the ultimate version has no limits. These higher-level GunBot licenses will cost you between 0.050 to 0.125 BTC.
Gunbot offers all the bells and whistles that you would expect from a crypto trading bot. It offers an excellent user experience and a suite of tools need to develop and execute automated trading strategies. Whether you are a beginner or an experienced trader, you could use Gunbot to help you execute your trading strategies.
To find out more about Gunbot, click here.
ND Labs Launches Crypto Exchange Software Development
Weekly Roundup: African Web3 Mobile Games Publisher Carry 1st Secures $27M in Funding & More
Weekly Roundup: Morocco’s Central Bank Announces Completion of Draft Cryptocurrency Regulatory Framework & More
Weekly Roundup: Nigeria Looking to Legalise Cryptocurrency Usage, CAR’s Sango Coin Postponed & More
Weekly Roundup: South African Crypto Exchange VALR Launches in Zambia & More
Weekly Roundup: Kenya’s Capital Markets Bill 2022 Seeks to Tax Crypto Transactions & More
Press Releases2 years ago
Scalable Proof of Stake Coin PIVX Now Available for Staking on HolyTransaction Exchange
News3 years ago
Terrabit 2.0 Hard Fork to Reduce Coin Supply Through Coin Swap
News3 years ago
TerraBit Gets Ready to Add Exciting New Features in August Hard Fork
News3 years ago
Weekly News Roundup: SendCash Grows and ChainEx Partners With OkEx
News3 years ago
TerraBit’s CREDIT To Be Listed on MyCointainer Before Swap
Press Releases2 years ago
Coinprofile Listing Enhances Living on Dash in Nigeria
Features3 years ago
TerraBit Enables Naira Deposits And Opens An Office In Nigeria
News3 years ago
Weekly News Roundup: TerraBit Enters Nigeria, Paxful Volumes Continue to Rise