The blockchain and cryptocurrency space is notorious for its undesirable user experience. Despite the current bull run, most users who are currently delving into cryptocurrency applications, services, and exchanges are usually put off by the impersonal nature of it all.
While this could be part of the decentralization ethos that has characterized the evolution of these technologies, most users want someone to call.
Professional traders are no exception to this rule. Because of this, a new decentralized crypto exchange offers a drastic improvement in this regard.
Wisebitcoin is known for 24/7 support, among many other important features. The exchange has caught the attention of professional traders looking for a fast, yet reliable trading experience. Finance Magnates sat down with Wisebitcoin’s Senior Adviser JW Cho to learn more.
Wisebitcoin’s Senior Adviser JW Cho
Mr. Cho, thank you very much for taking the time to sit down with us. We experience an unprecedented bull run. What are you hoping for?
I hope for the future development of the market. The number of unique crypto wallet addresses is growing and currently more than 34 million wallets are in use.
It seems that more traders than ever are entering secondary markets and seasoned traders will resort to leverage to take advantage of the volatility.
What kind of exchange is Wisebitcoin? Can you name some of its features?
We are a decentralized exchange introducing three main features for professional traders. First comes asset custody and clearing technology.
Then we rely on specially developed distributed transaction processing technology that goes hand in hand with the high performance of the exchange.
Last but not least, the liquidity is diversified. Exchange partners can combine orders, share liquidity and access the depth of many well-known exchanges on the Wisebitcoin platform.
What are the main differences between Wisebitcoin and other competing exchanges?
We make it easy for investors to make successful investment decisions without having to become a cryptocurrency user. Professional traders can come to Wisebitcoin to buy futures in any crypto asset while benefiting from unparalleled customer support, high liquidity and high security standards.
What system and cloud connection upgrades has Wisebitcoin implemented after the beta start in 2018?
In 2018, we made headlines that we were the first crypto exchange to offer 1:20 leverage. This made our user base grow exponentially as margin trading was still very new at the time. Most exchanges only offered it to a limited extent.
Since then, Wisebitcoin has integrated a cloud-based platform that improves the functionality of the exchange. It also connects us with the 12 million users of the cloud around the world. This is of course good for liquidity.
How does Wisebitcoin manage to offer 100x leverage in contract trading?
We are reinforcing the upside by allowing greater leverage. Regarding Derivatives Trading Perpetual Swaps allow traders to buy or sell the value of an underlying asset while enjoying unique advantages when trading derivatives.
These benefits are not expiration dates, where the asset is never held, and swaps that track the underlying price, making them easy to shorten.
The platform integrates the advantages of spot and futures trading by providing a perpetual trading venue for USDT swap and coin swap on the futures exchange.
With Wisebitcoin, professional traders can even use high leverage without worrying about the expiration date of futures contracts.
What is it like to use your exchange? What experience would a professional dealer have?
Not every exchange can offer the solutions that professional cryptocurrency traders need. Wisebitcoin has more than 100 trading pairs and over 30 deposits and withdrawals of cryptocurrencies.
We offer spot trading in over 50 cryptocurrencies including BTC, USDT and ETH. We also offer coin swaps on the futures exchange and continuous trading in USDT swaps.
Another thing to note is that all withdrawals on Wisebitcoin are automatic.
What role do you think customer service plays in an area like crypto, which is known for its poor user experience?
Although it is a decentralized switch, using Wisebitcoin is just like using the more popular yet less secure central switch. The user interface is intuitive and straightforward.
Professional traders are also supported by a multicultural team of financial professionals who are available 24/7 for the highest level of customer service. Each dealer is supported by a dedicated sales manager through live chat or phone call.
The appeal of Wisebitcoin is that it combines this with ease of use, high liquidity and robust security.
Tell us about Wisebitcoin’s affiliate program.
Wisebitcoin grants affiliates commissions that are more than double those of other exchanges. $ 2.10 to be exact. We also provide tools such as website management, commission management, CRM, advertising and white label solutions that partners can use to grow their business.
What are VIP partners?
VIP partners are partners who achieve a certain volume in order to generate 30 percent of sales. New partners who signed up after February 3rd are now automatically updated to the VIP partner level and receive double the trading commission regardless of the volume.
What can we expect from Wisebitcoin in the near future?
We are trying to expand our affiliate program as well as the stable coin pool. In the long term, we are confident that the quality of our services will make us one of the most widely used crypto exchanges in the world.
We are also in the midst of important collaborations, such as our most recent partnership with FSV Mainz and Land-FX UK. We recently added two new key consultants to our team.
One of them is crypto exchange expert Lee Sanwgook, who was previously CFO at Huobi Korea and CEO at BlueHelix Korea.
The other is his colleague Andrew Chae who served as the CSO of Huobi Korea and Co-CEO of Bluehelix Korea. So there are exciting things coming up.