Exceeded

Score

0123456789.01234567890123456789
/10

WBF

Singapore

|

5-10 years

Company Registration|

Suspicious Overrun|

High potential risk

Rating Index
Influence

Influence

C

Influence Index NO.1

Germany 2.35

Better than 98.36% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
C

Licenses

MAS

MASExceeded

Company Registration

Exchange Info

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Company Name
WBF
Phone of the company
--
Customer Service Email Address
support@wbf.io
support@wbfexco.com

WikiBit Risk Alerts

2
Previous Detection 2024-06-22

The number of the negative comments received by WikiBit have reached 24 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!

Company Registration goes beyond their business with the licenses Singapore MAS (license number: 201816630N), please be aware of the risk!

Website

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Time Machine

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Influence

Yesterday Vol

7 Days

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User Reviews

More

31 ratings

Participate in evaluation
FX1008966085
As a blockchain enthusiast, I have been trading and monitoring the market on Watt Exchange. Its security is trustworthy and the exchange interface is well designed.
2023-09-16 06:59
6
飞14719
scam money
2023-04-18 21:19
0
爱吃稀饭
Running away, why not mark it?
2022-07-05 20:03
0
白羊50716
Killing pigs, no withdrawals
2022-02-25 16:38
0
A-米乐
scam
2022-02-22 08:13
0
白羊50716
I can’t withdraw coins for 20 days. It can’t withdraw all types of coins. The platform absconded and even the announcement center was gone and the customer service is always in line.
2022-01-04 09:46
0
BIT2854449861
WBF exchange cannot withdraw. It has been three days after I apply for withdrawal and I cannot withdraw even I contact customer service
2021-12-14 12:50
0
BIT2839120602
It issued shitcoins to users with fake information. Stay away from it.
2021-09-15 13:35
0
BIT4369291882
It provided fake data of transaction and issued shitcoins. Stay away.
2021-09-08 14:37
0
BIT2553998712
The police cracked the fraud group of snail coin which cheated many users and caused great losses. The broker used to introduce snail coin to users. Stay away from it.
2021-09-07 22:27
0
黄大蟀
BTT was unavailable. Fraud platform. Beware of it and stay away.
2021-09-04 02:28
0
万利36503
Look at the picture. When I took a screenshot and contacted customer service at 16.59, the lowest BTC price at that time was 30314. When I closed the position, it clearly showed 30363 and the profit would be closed. As a result, the system showed 30262, which was a full 100 points difference. I took a look at them. The spot price on the Watt Exchange was 16.59 at a minimum of 30329. Ha ha, the prices on the three major exchanges were not lower than 30,300 at that time. . 30262,, ha ha, Watt Exchange, it’s watts when using my brain, all the stocks have been released, please mention U and leave, everyone cherishes it! (The most important point is that I contacted the customer service at 17.00. The result picture was posted for a few minutes, and then the customer service responded to the picture, the data was changed, huh, huh)
2021-06-26 22:02
0
天顺人和
I bought dragon coins here and today this kind of coins was shelved.
2021-06-25 06:56
0
BIT1286214467
Manipulating currency prices, the prices of some currencies fluctuate sharply, forming a large gap with mainstream exchanges, testing the 10U small amount of coins that can be withdrawn, and inducing singles to enter the market, and the goal is the client's principal.
2021-06-20 05:28
0
婉岳派掌門(L.LEE)
Taking advantage of that ONLY is under investigation and cannot be traded, they faked data and ripped off investors. The price is ten times lower on WBF than that of other platforms. Also withdrawals are denied because there are no coins left in WBF’s wallet address. All they have is bunch of fake numbers. Definitely the most unscrupulous dealer ever.
2021-06-12 23:22
0
BIT1868148934
WBF sells users’ coins compulsorily
2021-06-09 10:45
0
天境
Withdrawal was passed at 5 o'clock this morning, and it has been unreviewed. After an hour, I contacted the customer service to approve it. However, after ten hours, it still showed that it had been approved, but it was not released. I have contacted customer service many times and said that I have urged you, so I will not release coins.
2021-05-28 18:21
0
Kin85131419
Scam investors. The mining rig can be converted by redeem code. The assets shrink though the exchange.
2021-05-10 18:08
0
素侠居士
The abominable behavior of Watt Exchange can hardly be tolerated. Private investors get whacked by it: First, it makes use of data fraud and dumping to absorb private investors’fund without bottom limit; second, the withdrawal channel is closed and no payment is made.WBF
2021-05-02 22:59
0
BIT1937017474
Watt exchange fake data, do not let the currency, spicy chicken exchange
2021-05-02 14:36
0

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Aspect Information
Company Name WBF
Registered Country/Area Singapore
Founded Year 2018
Regulatory Authority MAS(Exceeded)
Cryptocurrencies Offered/Available Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP)
Trading Fee 0.20%
Deposit & Withdrawal Bank transfer, credit/debit card, cryptocurrency transfer

Overview of WBF

Established in 2018, WBF is a cryptocurrency exchange headquartered in Singapore. It operates under the regulatory oversight of the Monetary Authority of Singapore (MAS) with a regulatory status that has been exceeded. The exchange offers a platform for users to trade a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). With a 24-hour trading volume averaging approximately $253,048, WBF facilitates trading activities for its users. The exchange implements a uniform fee structure, with both maker and taker fees set at 0.2%.

Overview of WBF

Pros and cons

Pros Cons
Wide range of cryptocurrencies Lack of regulatory oversight
High leverage ratio up to 1:100 Potential customer support concerns
Web-based and mobile trading platforms Transparency and security risks
Various deposit and withdrawal options /
Educational resources available /

Pros of WBF:

Wide range of cryptocurrencies: WBF offers a wide range of cryptocurrencies, allowing users to trade popular options such as Bitcoin, Ethereum, Litecoin, and Ripple.

High leverage ratio up to 1:100: Traders on the platform can leverage their positions up to a maximum ratio of 1:100, allowing for potentially greater profits.

Web-based and mobile trading platforms: WBF provides users with web-based and mobile trading platforms for iOS and Android, offering convenience and accessibility.

Various deposit and withdrawal options: The exchange supports various deposit and withdrawal methods including bank transfers, credit/debit cards, and cryptocurrency transfers, giving users flexibility in managing their funds.

Educational resources available: WBF offers educational resources such as tutorials, articles, webinars, and educational videos, which can be helpful for users looking to expand their knowledge and improve their trading skills.

Cons of WBF:

Lack of regulatory oversight: One major downside of WBF is that it operates without a regulatory authority overseeing its activities. This lack of regulation can potentially expose users to higher risks.

Potential customer support concerns: Customer support may be a concern as it doesn't show WBF is providing any customer support like live chat or phone. Some users may prefer immediate or comprehensive support options.

Transparency and security risks: The absence of a regulatory authority may also raise questions about the transparency and security of the exchange. Users should exercise caution when trading on an unregulated platform.

Regulatory Authority

The regulatory status of WBF is governed by the Monetary Authority of Singapore (MAS). With a specific regulation number, 201816630N, WBF operates under the umbrella of regulatory oversight. The current status is marked as “Exceeded,” indicating compliance has expired. The license type attributed to WBF is classified as a Company Registration, and it operates under the license name “WBF TECHNOLOGY PTE. LTD.”

Regulatory Authority

Security

WBF's security measures include measures such as encryption technology and multi-factor authentication to protect user data and prevent unauthorized access. However, it is important to note that there is limited user feedback available regarding the security of the exchange.

Trading Market

WBF's trading market includesContracts for Difference (CFDs), Options Trading, and Leveraged Tokens.

Contracts for Difference (CFDs): CFDs are financial contracts that allow traders to speculate on the price movements of underlying assets without actually owning them. WBF offers CFDs on a wide range of cryptocurrencies, providing a flexible alternative to direct cryptocurrency ownership.

Options Trading: Options contracts grant the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price (strike price) on or before a certain date (expiration date). WBF offers options contracts on various cryptocurrencies, enabling traders to employ various strategies to manage risk and potentially generate profits.

Leveraged Tokens: Leveraged tokens are financial instruments that provide traders with exposure to the price movements of underlying assets while amplifying the potential returns. WBF offers leveraged tokens on a limited number of cryptocurrencies, allowing traders to pursue aggressive trading strategies

WBF APP

The WBF APP for Android is a comprehensive mobile application designed to enhance the user experience and accessibility of WBF's trading platform.

The WBF APP for Android provides a secure and efficient trading platform, incorporating advanced security features to ensure the safeguarding of users' digital assets. With this application, users can access real-time market data, including prices and charts for cryptocurrencies and various financial instruments. The platform boasts an intuitive interface, designed for both novice and experienced users, simplifying the trading process.

Users can place and manage orders directly from their mobile devices, maintaining full control over their trades. The app offers a comprehensive portfolio overview, allowing users to monitor their investments in real time and review detailed transaction histories. Additionally, advanced charting tools are available for in-depth technical analysis, empowering users with the insights needed to make informed trading decisions. To enhance the user experience, personalized notification alerts can be set up, ensuring users stay informed about market movements, trade executions, and other significant events while using the WBF APP.

How to Download WBF APP from Google Play:

1. Open Google Play Store: Launch the Google Play Store application on your Android device.

2. Search for WBF APP: In the search bar, type “WBF” or “WBF APP” and press enter.

3. Select the App: Choose the official WBF APP from the search results.

4. Download and Install: Tap on the “Install” button to initiate the download and installation process.

5. Open the App: Once the installation is complete, open the WBF APP from your device's app drawer.

WBF APP

How to Buy Cryptos

WBF Mobile App (Recommended)

1. Download and install the WBF app from the App Store or Google Play Store.

2. Create an account and verify your identity.

3. Fund your account using your preferred method.

4. Select the cryptocurrency you want to buy and enter the amount.

5. Confirm your purchase.

6. Monitor your holdings.

WBF Automated Teller Machine (ATM)

1. Find a nearby WBF-supported ATM.

2. Scan the QR code on the ATM with your phone.

3. Select the cryptocurrency you want to buy.

4. Enter the amount you want to purchase.

5. Insert cash into the ATM.

6. Confirm your purchase.

Cryptocurrencies available

Cryptocurrencies available on WBF include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). The prices of these cryptocurrencies are subject to fluctuations on the exchanges. Users can track the price movements of these cryptocurrencies on the platform to make informed trading decisions. Additionally, WBF offers other products and services such as trading tools, market analysis, and research reports to assist users in their trading activities. Users need to stay updated with the latest news and developments in the cryptocurrency market to navigate price fluctuations effectively.

Cryptocurrencies available

How to open an account?

The registration process of WBF involves the following steps:

1. Visit the WBF website and click on the “Sign Up” button.

2. Fill in your personal information such as your name, email address, and password.

3. Agree to the terms and conditions of WBF.

4. Verify your email address by clicking on the verification link sent to your email.

5. Complete the KYC (Know Your Customer) process by providing additional personal information and submitting relevant documents such as proof of identity and address.

6. Once your KYC documents are approved, your account will be activated, and you can start trading on the WBF platform.

Fees

WBF Exchange implements a uniform transaction fee structure for both takers and makers, with a rate of 0.2%. Below is a summarized table of WBF Exchange's transaction fees:

Trade Type Fee
Spot Trading 0.2% (Taker/Maker)
Contract Trading Not available

Deposit & Withdrawal

WBF supports various deposit and withdrawal methods such as bank transfers, credit/debit cards, and cryptocurrency transfers. The processing time for deposits and withdrawals may vary depending on the chosen method. Bank transfers and credit/debit card deposits typically take a few business days to process. Cryptocurrency transfers, on the other hand, generally have faster processing times, usually within minutes to a few hours.

Deposit & Withdrawal

Educational Resources

WBF offers a variety of educational resources to assist users in their trading activities. These resources include trading guides, video tutorials, and webinars. Users can access these materials to learn about various trading strategies, market analysis techniques, and other relevant information. Additionally, WBF provides community support and communication platforms such as forums and social media groups where users can interact with each other and discuss trading-related topics. These resources and platforms can be helpful for users looking to expand their knowledge and improve their trading skills.

Is WBF a Good Exchange for You?

WBF is the best cryptocurrency exchange for traders seeking a comprehensive range of cryptocurrency options. With its extensive list of supported cryptocurrencies, WBF is good for traders who are interested in exploring a wide variety of digital assets for their investment and trading strategies.

WBF is good for a range of traders beyond those who prioritize regulatory compliance.

The platform is well-suited for traders seeking a variety of cryptocurrency options and a user-friendly interface. Casual or novice traders who value an intuitive platform for seamless trading experiences may find WBF appealing.

Additionally, active traders looking for advanced features, such as real-time market data, advanced charting tools, and efficient order execution, can benefit from WBF's comprehensive offerings.

User review

User 1:

WBF is like a crypto treasure trove! They've got Bitcoin, Ethereum, and more in their lineup, making my trading dreams come true. But hold on, where's the regulation backup? That's a red flag right there. And don't get me started on the customer support - it's like sending messages into a black hole. Trading fees? Yup, they're a bit hefty. On the plus side, the platform's pretty smooth, and depositing or withdrawing is a breeze. Just wish they'd tighten up on the security front – my crypto's precious, you know!

User 2:

WBF, my crypto oasis! Trading here is a joy with the smooth interface – Bitcoin, and Ethereum, they're all at my fingertips. But, uh-oh, no regulatory umbrella? That's like diving into a pool without water. Customer support's like a hit-or-miss party invite and fees? They're the party crashers. Yet, the liquidity dance is decent, with Ripple and Litecoin in the groove. Deposit and withdrawal speed? Moderate, but nothing too shabby. All in all, WBF's like a chill beach – relax, but keep an eye on the tides!

User review

Conclusion

In conclusion, WBF Exchange presents a platform for cryptocurrency enthusiasts to engage in trading activities. Its advantages encompass a wide selection of popular cryptocurrencies, a high leverage ratio of up to 1:100, and accessible web-based and mobile trading platforms. The exchange also offers educational resources for traders looking to enhance their skills. However, notable disadvantages include the absence of regulatory oversight, potential concerns about customer support, and questions about transparency and security due to the lack of a regulatory authority. As users navigate the trading landscape, they should carefully consider these pros and cons before choosing WBF as their trading platform of choice.

FAQs

Q: What cryptocurrencies are available for trading on WBF?

A: WBF offers a range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and Ripple.

Q: What are the fees for trading on WBF?

A: WBF Exchange implements a uniform fee structure for both makers and takers, with a rate of 0.2% for spot trading.

Q: What is the registration process for WBF?

A: The registration process for WBF involves visiting their website, filling in personal information, agreeing to the terms and conditions, verifying the email address, completing the KYC process, and having the account activated.

Q: What are the deposit and withdrawal methods on WBF?

A: WBF supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrency transfers.

Q: Does WBF provide educational resources for traders?

A: Yes, WBF provides educational resources such as trading guides, video tutorials, and webinars to assist users in improving their trading skills and knowledge.

Q: How can I contact WBF's customer support?

A: Users can reach WBF Exchange's customer support through email channels at support@wbf.io and support@wbfexco.com.

Q: What are the advantages and disadvantages of using WBF?

A: Some advantages of using WBF include a wide range of trading options, high leverage ratios, and user-friendly resources for beginners. However, there have been occasional reports of slow loading times, higher fees compared to other exchanges, occasional glitches in the trading platform, and isolated reports of delayed order processing. It is recommended for users to carefully evaluate their own requirements before deciding if WBF is the right virtual currency exchange for them.

Risk Warning

There are inherent security risks associated with investing in cryptocurrency exchanges. It is important to understand these risks before making such investments. Cryptocurrency exchanges are vulnerable to hacking, fraud, and technical glitches, which can lead to the loss of funds.

It is recommended to choose a reputable and regulated exchange, keep abreast of security measures, and be vigilant in detecting and reporting any suspicious activity. Please ensure that you understand the risks involved and note that the information contained in this article is for general information only.