Whaleclub.co exchange is a Hong Kong-based bitcoin startup which began live trading in January 2016. The platform was founded by Perry Steegen, a former banker, and technology fan. Whaleclub offers its service in more than 190 countries around the world, allowing traders to buy and sell cryptocurrencies like bitcoin, litecoin, ether, and monero, as well as major fiat currency pairs, oil, gold, silver, indices, etc. globally with ease.
For an exchange of its standard, Whale Club doesn’t demand identity verification at all. Like Russian BTC-e, this makes Whale Club one of the rare crypto-exchanges that do not require any form of account verification.
The company operates on a strict “no fiat” system, implying they don’t use the banks or any similar financial institutions or fiat currencies in their operations.
Whale Club does not charge any fees on deposits, executions, balances, and inactivity. The fee charged for each withdrawal is 0.001BTC, which is the amount charged by the network for confirmation transactions.
The exchange has fees for leveraged accounts. The margin trading for digital currencies is available around the clock.
- The maximum leverage for BTC/USD pair is 10x, with a maximum size of 30BTC. The financing rate is 1.8%, and the spread is 4.8.
- The maximum leverage for DASH/BTC pair is 3x, with a maximum size of 3BTC. The financing rate is 0.6%, and the spread is 0.0006.
- The maximum leverage for ETH/BTC pair is 5x, with a maximum size of 5BTC. The financing rate is 38.2 %, and the spread is 0.001.
- The maximum leverage forXMR/BTC pair is 5x, with a maximum size of 5BTC. The financing rate is 0.6 %, and the spread is 0.001.
- The maximum leverage for LTC/BTC pair is 5x, with a maximum size of 10BTC. The financing rate is 0.5 %, and the spread is 0.04.
Whale Club is a quite specific exchange, as it only allows margin trading. It does not support standard open book trading without leverage.
Whale Club’s trading platform supports the following types of orders: Limit order, Market order, Buy/Sell stop order, Take-profit order, Stop-loss order.
Regarding commodities trading, this exchange allows trading for gold, silver, and oil. There is also an option for Forex trading, with several fiat currency pairs.
There are four stock market indexes accessible on the platform:
- London Stock Market Index – FTSE 100
- New Your Stock Market Index – S&P500
- Tokyo Stock Market Index – Nikkei 225
- New York Stock Market Index – NASDAQ
Unlike most crypto-exchange platforms, Whale Club has one of the best beginner-friendly interfaces out there. Each step has been simplified in details, letting new users find their way around the platform in no time. The website is fast and glitch-free, and everything works excellently. There are no Android and iOS applications for now, but if you visit the platform on a mobile device, the design is pretty responsive and looks good. They also have a vast API, which serves a significant number of traders.
The trading platform also has a fantastic referral program which doles out 50 percent of all commissions made by anyone who signs up through affiliate’s link, permanently. As made evident by reviews online, this is the highest paying Bitcoin affiliate program.
Deposits and Withdrawals
WhaleClub allows deposits only in BTC. The deposit link is available on the trader’s dashboard and wallet. Fund deposits are immediate and credited immediately they reach the blockchain.
The trading platform does not allow bank transfers or any other means of payment in fiat currencies. Whale Club supports the following digital currencies: Bitcoin (BTC), Dash (DASH), Ethereum (ETH), Litecoin (LTC), Monero (XMR).
There are no deposit/withdrawal fees or trading fees charged on Whale Club. The exchange as well doesn’t impose any limits on deposits and withdrawals.
The transactions are processed everyday including weekends and holidays, and everything is processed manually. Following the strict protocols, withdrawals are processed manually at set times of the day. The primary reason behind the manual withdrawals is the security factor, as it enables the company to keep all of the client funds in cold storage, away from the platform and out of range for potential hackers.
Is Whale Club safe?
Whale Club is one of the upcoming frontiers in the crypto-exchange industry. It gives anonymity and offers a service bit different from what we are used to, making it a real refreshment in the market.
There are very few complaints about the exchange, and they usually regard high funding fees. Apart from some users accusing Whale Club of posting fake reviews, nothing else pops up, and users are satisfied with the platform.
A great exchange with a lot of potentials. Different from the competition, in an excellent way.