Wunderbit Trading – Platform Review
Wunderbit Trading brief
Trading bots: 2,500
Monthly turnover: $ 200 million
About the platform
Wunderbit is a trading platform with useful features for both beginners and advanced traders and crypto asset managers. Since this is not an exchange, you need to create an account on one of the cryptocurrency exchanges cooperating with Wunderbit and connect via API — in order to start using the platform. Below are the active partnerships as well as those that the platform only plans to cooperate with in the future.
In the terminal, cryptocurrency charts are integrated with TradingView, which is convenient because this is one of the most familiar and user-friendly terminals, including for the analysis of cryptocurrencies.
In addition to an extensive list of tools for technical analysis, Wunderbit has a trading panel for setting orders and creating strategies:
One of Wunderbit’s features is a marketplace consisting of traders and copy traders. The former make deals, the latter automatically copy them. An analog of investors and trustees. For beginners, this is a way to make money on crypto trading without making deals yourself. For experienced traders it is the opportunity to earn on commissions from successful followers' trades. Traders can set a fixed price for the copy-trading.
Above is a screenshot of the best traders of the moment. The table shows the main yield metrics. For more details, there is a “show” button on the right, and a “follow” button to join a specific trader. Because traders usually trade on different exchanges, you need to open an account on the same exchange and connect via API to join their strategy. Otherwise, the “follow” button will be inactive, as in the screenshot above. For convenience, there is a filter by cryptocurrency exchanges.
For traders with programming skills and those who work with big data, it is possible to write algorithms for bots, which followers also cling to. As with copy trading, there are similar filters by profitability and the ability to view the details of the bot.
DCA and Spread trading
DCA (Dollar-Cost Averaging) or averaging strategy, which is due to its automation makes it possible to accumulate the desired cryptocurrency positions at specified periods, regardless of the price. The main goal is to minimize the risks of volatility. Accordingly, one-time deals are low in volume but extended in time.
Spread trading is a one-time purchase and sale of assets. For example, buying a strong cryptocurrency and selling a weak one, with high chances of sinking. The strategy is less risky, as it is less volatile due to the combination of multidirectional trades. It remains only to make a correct prediction of which asset will grow and which will fall in price.
Both DCA and Spread trading are available in the Terminal panel.
Wunderbit also operates a cryptocurrency exchange service that allows its clients to buy and sell crypto at an exchange licensed in Estonia. On the website, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, XRP, Tron, USDT, Binance Coin, and other cryptocurrencies are available for purchase, including by credit card, SEPA transfers or Skrill.
At some point, the system requests the user to identify himself: a passport or driver's license will have to be provided.
At the time of this writing, there was a sharp dump of the crypto market with BTC dipping as low as $49 000. It's time to check which traders withstood the drawdown and did not let their followers down, and who earns only when the entire market is growing.
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