In this opportunity we give an overview of our experience using this service, which – unlike many others in the market – uses a digital currency as the main currency for the conduct of commercial operations.
Whaleclub is a platform exclusively designed for the exchange of currencies and digital currencies, whose operation is very similar to other platforms on the market. However, it presents a fundamental difference in relation to similar proposals, and is that it works exclusively using Bitcoin as currency to carry out the respective commercial operations.
In the words of Jessica Lee – director of business relations – during an interview with the Brave New Coin news portal, Whaleclub’s idea began to be something very different from what it is today, since despite being operational since Much earlier, was precisely in the month of October 2015 when it was launched with the bulk of its properties that remain until today. Previously the platform was simply or just looked like a BTC browser in which the prices of the Cryptomoneda could be monitored in various markets, and compare the economic indicators associated with it in relation to those related to other currencies, both legal and digital .
Among many important aspects that can be highlighted from the platform, perhaps the most important entry is the fact that when trading directly with Bitcoin users do not need to manage anything beyond an external BTC purse offered by the exchange service. This model of operations leaves aside the need for its users to give large amount of personal data since it only requires an email and a password as the only mandatory data. It is not necessary to have bank accounts, since the operations will be processed exclusively with digital assets. Likewise, it is not affected by regulations and legal frameworks that traditionally apply to the handling of legal tender assets.
The company is headquartered in Hong Kong and is under the management of Whaleclub Limited. According to Petar Zivkovski – area operations director – and Jessica Lee, the original goal behind the creation of this platform is to make the exchange process a much more friendly and simple experience, translating into something that impacts and motivates Its simplicity being able to attract many users of Bitcoin.
Whaleclub History: An Innovative Proposal
As already mentioned, although the creators had a proposal to generate an exchange service, the platform originally started as a different project that was not far from proposals such as Bitcoin Wisdom – page that brings together a large number of indicators and graphics associated with the price Of the digital currency in different latitudes and markets. However, from October last year, after the incorporation of Zivkovki and Lee to the work team is that the service began to push more strongly its model of operations until seeing it realized.
After months of hard work, finally in January 2016 the exchange service officially opened its doors and managed to reach more than 7,000 users distributed in 160 countries. A month later, the platform had processed more than 100,000 operations with a volume of more than 10 million dollars.
In addition to the aforementioned individuals, the team has participants who have extensive experience in the field of cryptomonedas, such as Jenny Blanche, director of the area of customer support; Christian Krause, head of security; And Ian Glindo, responsible for the area of product development.
How does Whaleclub work?
The exchange platform is completely open so that until the moment its access is not restricted in any country, so that anyone interested can enter it and open an account without any minor complication.
To open an account on the platform you must follow a few simple steps. The first step is to have an email address and a password must be entered.
Once this is done, the platform takes us to another page where we must enter a username and one of our personal names to include within the emails sent by the page. Once this is done, the user must check the email with the confirmation code sent by Whaleclub and enable it by clicking on the respective link to enable our account within the exchange service.
Having completed the previous steps, you only have to return to the home page and enter our accounts with our data. In case the user so wishes, it can activate a system of verification of two factors which can provide a higher level of security to your account.
Once inside, a message of welcome to the platform appears with some general considerations to guide the user on the aspects and elements of which it can make use. A very interesting element is that the service asks if we prefer that our balances are shown in dollars or Bitcoin, making it very clear that this is an element clearly associated with the nomenclature since all operations are done exclusively with the digital currency.
As we can see, at first glance the page shows us some interesting options. If we go from left to right we can see that the platform endows the user with a series of economic indicators that are there to illustrate in relation to the exchange rates for crypto and for other currencies (incorporating indicators of high or low volatility). There are also other tabs, one related to proposals that some users make in relation to business strategies, and another that reports on the most emblematic news published in various digital media related to the economy of the digital currency.
The platform on the same screen has a chat where you can chat with other users online, either to share experiences or raise doubts.
Towards the center we find a graph associated with the indicator selected, ie if we want to follow the price of Bitcoin or another currency against the dollar, we just have to click on the option that contemplates its price. We also have different tools, among which the possibility to draw own lines and set alerts in case the indicators exceed or are below certain reference measures.
In addition to this type of view, the platform has an additional modality under which it can organize and present data related to the prices of the selected item. If we click on the associated indicator, the view changes from classic to “Turbo Mode”, which means that the market indicators are tracked second and second in a more precise and detailed way.
To add funds to the account, simply click on the deposits option and a small window will open in which we will have an address and a QR code, through which we can make the transfer for the amount of BTC assets desired since An external wallet or purse. The process is quite fast because when registering the transaction in Blockchain, the assets are already available in Whaleclub to do the negotiation. Keep in mind that the minimum quota to make purchase orders is at least 0.1 BTC (In case of being lower than the figure offered, a red indicator will appear at the top of the screen).
Purchase orders are made very similar to other exchange services such as Coinbase or Kraken. Users must set an offer and may assign indicators and / or warnings to alert in a timely manner in case the market is approaching the expected value.
In case of wanting to make a withdrawal of funds, this can be deducted from the positive balance with which it is counted in the page. For this, only the amount to be withdrawn should be indicated and provide an address to which to send the respective assets. In case the requested amount is higher than the one that is enabled (due to the fact that there are deposits yet to be fully confirmed), the transaction must be completed through the Blockchain to fully dispose of the respective funds.
Finally, the platform does not charge any type of commission for the operations carried out within it beyond the equivalent of 0.001 BTC for the withdrawals made.
As we could prove, Whaleclub is certainly a fairly friendly platform to conduct business operations. With the novelty of using Bitcoin as a negotiating currency, it prevents the user from carrying out cumbersome processes related to the linking of bank accounts and verification of documents. At the same time, it has a wide range of tools that facilitate the person to be able to follow up their purchase orders, while also allowing the commercial indicators to be constantly monitored. And the main advantage is that their access is not restricted to any country, so that interested people can take their business operations safely without having to be affected by the regulatory measures they apply in different nations.
For more information, we recommend that you access the website of the platform by clicking here.