Wunderbit Review [2021] – Pricing, Strategies, Securit

2021-9-22 15:28

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.

Who Is Wunderbit Best For?

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.

Features

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

Buy crypto with credit card: Wunderbit supports a variety of payment methods including Visa, Mastercard, Skrill, Bank Transfer (SEPA) and of course, Bitcoin. According to the website, the process of buying crypto with a credit card takes just around 10 minutes, and the coins themselves will be transferred in the next 20 minutes.[1]
Social trading: Referred to as Copy-Trading (or mirror-trading) on the website, this tool allows the user to use Wundebit’s advanced copy-trading system to copy and execute the trades of the professional traders that they follow.[2]
Multiple account management: Users can manage multiple exchange accounts on Wunderbit, be it manually, through the trading terminal or automatically using bots.

For instance, when creating a trading strategy, traders can choose several API accounts from the same exchange and trade on all of them simultaneously.[3]
Trading bots: Using TradingView scripts with Wunderbit’s automatic trading system, traders can create an unlimited* number of cryptocurrency trading bots.[3]

Wunderbit helps users automate any TradingView scripts into fully functioning trading bots that can be created in a matter of seconds for free with the help of TradingView’s PineEditor tool. Additionally, Wunderbit also offers free TradingView scripts, suited for users who don’t know how to make one.

Features: Limit entries, multiple entries, partial take profit, trailing stop, take profit/stop loss, and order size (in percentage or fixed amount in USD).

Types of bots: Binance Futures Trading Bot, Bybit Trading Bot, Deribit Trading Bot and FTX Trading Bot.

*Premium users only.
Spread trading terminal: This allows users to select the assets they’d like to use for creating a spread. Spread trading is available on all crypto exchanges that offer futures trading.

To change the terminal view from Classic Trading to Spread Trading, all users have to do is change the strategy type from the exchange selection dropdown menu.[3]

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.
Wunderbit Visit Now

Pricing

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:

5 open positions2 active bots1 API per exchangeTrading Terminal (Spot Trading, Futures Trading)Spot TradingFutures TradingSimultaneous Take Profit and Stop Loss

Basic:

Price: $9.95 per month.

Key features:

Everything in the Free plan, plus:

15 open positions5 active bots2 API per exchangeTrailing stopMultiple take profitsDCA trading terminal


Pro:

Price: $24.95 per month.

Key features:

Everything in the Basic plan, plus:

100 open positions15 active bots5 API per exchangeFixed amount (futures only)Spread trading terminalSwing trade


Premium:

Price: $44.95 per month.

Key features:

Everything in the Pro plan, plus:

Unlimited open positionsUnlimited active botsUnlimited API per exchange How To Set Up Wunderbit

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.

Log in to your account and head to Settings > My Exchanges and click on Add New.
Fill the form with the account name, the API key and secret, and select the exchange.

a) The account name will be visible to other traders and investors.
b) You can get an API key and secret from the exchange site.

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.

How to use the copy-trader: Head on over to Copy-trading and click on Start underneath Copy-trader.Go to the Marketplace tab, choose a trader and click Follow.Press Ok, and select the API profile with which you’d like to follow the trader or bot.Click Confirm, and click Ok.

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

How to create a trading bot: Go to Bots and head on over to Strategy, and then to Create.Determine your Bot Name, Exchange and API profile, and the Time Frame.Select your Pairs.Determine your Portfolio share, which is the percentage of your available balance with which you would like to trade (for FTX, you can select the Amount directly).Set the Leverage.Select the Order type and fill in your Last price, Ask price or Bid price.Determine whether or not you’d like Multiple entries.Determine your multiple Take profit targets.Determine your Stop loss.Click Create Bot Strategy.

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.

Wunderbit VS Alternatives

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

Wunderbit Visit Now

Cryptohopper: Wunderbit:Cryptohopper:15,000+ users[5]400,000+ users[6]13 exchanges[5]13 exchanges[7]2 active bots for free[4]No bots for free[8]Unlimited bots at most[4]1 bot at most[8]5 open positions for free[4]20 open positions for free[8]Unlimited open positions at most[4]500 open positions at most[8]Pricing: free, $9.95, $24.95, $45.95[4]Pricing: free, $19.00, $49.00, $99.00[8]7 key features[3]10 key features[6]Available on web and AndroidAvailable on web, Android and iOSVisit Now Visit Now 3Commas: Wunderbit:3Commas:$210,000,000+ monthly volume[5]$22,500,000,000+ monthly volume[9]13 exchanges[5]23 exchanges[10]2 active bots for free[4]5 different bots for free[10]Unlimited bots at most[4]Unlimited bots at most[10]Pricing: free, $9.95, $24.95, $45.95[4]Pricing: free, $29.00, $49.00, $99.00[10]No paper trading modePaper trading mode starting $29/month[10]7 key features[3]7 key features[9]Available on web and AndroidAvailable on web, Android and iOS Visit Now Visit Now Bitsgap: Wunderbit:Bitsgap:13 exchanges[5]25+ exchanges[11]BTC, ETH, LTC +5 altcoins accepted for payments[13]BTC, ETH, LTC +50 altcoins accepted for payments[12]Free[4]Not free[12]2 active bots for free[4]2 active bots for $19/month[12]Unlimited bots at most[4]15 bots at most[12]No demo tradingDemo trading starting at $19/month[12]7 key features[3]6 key features[11]Pricing: free, $9.95, $24.95, $45.95[4]Pricing: $19.00, $44.00, $110.00[12] Visit Now Visit Now User Experience

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]

Is Wunderbit Safe?

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]

Wunderbit Visit Now

Conclusion

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.

How does Wunderbit make money if it’s free?

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

Can I be both a trader and an investor?

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

How do I pay a commission to a trader?

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]

What happens if I don’t pay the commission?

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:

Coinrule.io reviewCoinmatics Review – How To Use This Crypto Copy Trading PlatformBest Crypto Scalping Bots – 5 Bots That Excel in High-Frequency TradingBest Crypto Grid Trading Bots – Grid Trading Strategies5 Best Cryptocurrency Arbitrage Bots Quadency reviewZignaly reviewTradesanta reviewMargin reviewGunbot reviewShrimpy reviewHaasbot reviewCryptoTrader.org review

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

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