Summary

Wunderbit is a combination of a crypto exchange, a social trading platform, a Bitcoin payment processing service, and an OTC service. It is best known for offering trading bots and scripts, and for allowing users to automatically copy successful traders with a mirror-trading tool.

Wunderbit appeals to a wide range of people, but it is best for traders who would like to dip their toes into trading bots and automated trading. The platform is simple and free to use, and with a sufficient understanding of the basics, users can not only easily create bots without any cost, but also use free scripts offered by the platform.

Here are some of the features users will find on Wunderbit:

Coming soon: Arriving soon are Arbitrage Trading and Grid Trading. The former utilizes price differences across multiple exchanges, and the latter uses a bot to operate based on a series of long and short orders.
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Wunderbit has 4 subscription packages: Free, Basic, Pro and Premium. These packages, when purchased in bulk, are offered with a discount of 10%, 15% and 50% for 3, 6 and 12 months respectively.[4]

Free:

Price: $0.00 per month.

Key features:

Basic:

Price: $9.95 per month.

Key features:

Everything in the Free plan, plus:

Pro:

Price: $24.95 per month.

Key features:

Everything in the Basic plan, plus:

Premium:

Price: $44.95 per month.

Key features:

Everything in the Pro plan, plus:

Here’s a quick and informative guide to get you on track to start using Wunderbit. Simply sign up for an account, and follow the steps below.

How to connect an exchange on Wunderbit:

In order to start using some of Wunderbit’s features such as the trading bot, you need to connect the exchange in question, more specifically, the exchange API. In order to do this:

Here’s a quick and informative guide to get you on track to start using Wunderbit. Simply sign up for an account, and follow the steps below.

Click on Add.

And you are done! The exchange will be visible in Settings > My Exchanges, and you can begin trading through Wunderbit.

Start trading or create bots:

Now that you’ve connected your exchange API, you can begin trading or creating trading bots. You can trade yourself or let the copy-trader do trades for you by copying the actions of traders that you follow.

Success! You can head back to the Copy-trading tab to see the traders you are following, as well as the completed trades.

And you have successfully created a trading bot! This process is free and does not require a paid subscription, however, free users can only have 2 bots at the same time.

But how does Wunderbit compare to similar platforms? Here are some alternatives in a side-by-side comparison:

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GuThe user-interface is quite simple considering the sort of platform it is and the kind of products they offer. Creating trading bots isn’t the first thing a newcomer might do, but the layout and process of it on Wunderbit is straightforward enough to help inexperienced individuals take their first steps in making their own bots. On that same note experienced traders should feel right at home as navigating through the website and using all of its features feels smooth and natural.

The basic features are free, allowing as much as 2 active bots and 1 API per exchange, which is pretty good considering the alternatives. As users buy better subscription packages the deals get far better, especially in bulk; a 12-month purchase gives users 50% off on all packages.

There are multiple payment options including credit cards and Bitcoin, the latter ensuring accessibility for places where cryptocurrencies are banned. While Wunderbit doesn’t explicitly restrict any countries itself as far as crypto payments are concerned, it does mention in its Terms of Use that:

“Depending on your country of residence, you may not be able to use all the functions of the Site. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access this Site and Services. As long as you agree to and actually comply with these Terms of Use, Wunderbit grants to you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Site and the Services.”

Wunderbit does cite countries that are banned from buying crypto with payment cards and Skrill, as well as “banned virtual currency countries”. Those lists can be found here.

Lastly, KYCs are a requirement to make big purchases, with mild requirements for a level 1 authentication (full name, address, ID and selfie with ID), and additional requirements for a level 2 authentication (bank account statement and selfie with said statement).[15]

Wunderbit has a license by the Estonian government to operate as a provider of exchange services between virtual and fiat currencies (license number FVR000332)[14]. As such, they are fully compliant with all relevant laws and regulations including those on anti money laundering, transaction security, and protection against fraud and data privacy[1].

Furthermore, users’ digital assets are not stored by Wunderbit, they are sent to the users’ wallets after purchases. According to the website, the security procedures in place ensure legitimate transactions and a top-grade safe platform.[1]

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Both as a free and paid service, Wunderbit offers notable services for traders of varying backgrounds. Professionals can make some money by allowing others to copy their trades, and less-experienced people can mirror their actions with a copy-trading system as an introduction to automated trading.

Wunderbit profits from its paid subscriptions[4] and its commissions from trades[15].

A user cannot be a trader and a copy-trader simultaneously. In other words, only one can be active at a given time.

Upon connecting your exchange through an API, selecting your role as a copy-trader, and choosing your trader, simply pay the resulting invoice and start copy-trading.[16]

Commission fees owed by traders for their subscription sales are automatically handled since the amount they receive is their full amount minus the Wunderbit trading commission.[17]

Should you still be unsatisfied with what Wuderbit has to offer, check out other cryptocurrency bots that are available on the market and were thoroughly tested by us:

The post Wunderbit Review [2021] – Pricing, Strategies, Securit appeared first on CaptainAltcoin.

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