Woo Network Overview
Woo Network is a deep liquidity crypto exchange established in 2018 based in Taipei City. The platform has over 650,000 active traders with a 24-hour trading volume of over $350 million.
The platform is a fast-growing exchange that wants to bring innovation and change to crypto. Woo Network was created by Kronos Research, a trading company focusing on high-speed trading with an average daily trading volume of over $5 billion.
Some of the critical features of Woo Network include access to over 90 cryptocurrencies and over 200 trading pairs for spot and futures trading, crypto staking, deep liquidity, low trading fees, and many more.
Another thing about WOO Network is that the exchange is divided into three categories: service institutional users, casual traders, and Defi users, according to their preferences, requirements, and likes.
However, all crypto users can benefit from the features offered by WOO Network, which allows them to trade on the platform, exchange their cryptocurrencies, stake their cryptocurrencies, or start earning using liquidity pools.
Pros and Cons of Woo Network
| 👍 Woo Network | 👎 Woo Network |
|---|---|
| ✅ Deep liquidity | ❌ Unreliable customer support |
| ✅ Wide range of passive income products | ❌ Offers a limited number of payment methods |
| ✅ Advanced security | |
| ✅ Customizable trading interface | |
| ✅ Offers proof of reserves | |
| ✅ Mobile applications for Android/IOS devices |
Woo Network Sign Up and KYC
Woo Network offers an easy-to-navigate, user-friendly platform. Creating an account on the exchange is a straightforward process. However, it is essential to note that KYC is compulsory for users to deposit, trade, and withdraw crypto freely on Woo Network. You can follow the step-by-step guidelines below to sign up and complete your KYC verification.
- Visit the Woo Network website (Click here)
- Click on “Get Started” at the top of the homepage
- Provide a valid email address and create your password. Agree to their privacy policy and click on “Register.”
- A code will be sent to your mailbox. Provide the code to verify your email address. After which, you can now access your account
- After your account is created, you’ll be required to verify your identity to enjoy all the platform’s features and remove any restrictions on deposits and withdrawals.
- You must upload your personal information, a valid government-issued ID, and a live selfie to verify your identity.
- After verifying your identity, you can deposit funds and start trading without restrictions on the platform.
Woo Network Products, Services, and Features
Trading features:
Users can conveniently trade on the spot and in the futures market on Woo Network. The exchange offers over 90 cryptocurrencies that users can trade on the platform, with an average daily trading volume of over $350 million. These include BTC, ETH, AAVE, MATIC, SAND, etc. WOO Network stands out because it offers users deep liquidity and a smooth trading experience.
The trading interface of the WOO Network is distinct from standard interfaces, which merely enable the traders to carry out the trades or play around with a few functions. The WOO Network offers three separate options: standard, advanced, and customized.
While the standard trading interface offers many features, it is more suitable for amateur traders. The advanced interface is designed to cater to professional and experienced traders, while the customised interface allows traders to do as they please. The interface offers a fast, precise, and responsive graph for each asset or pair on the platform.
Trading fees:
Woo Network offers affordable trading fees with a tiered fee structure for spot and futures trading. This helps users reduce trading fees based on the amount of WOO tokens staked and referral rate.
On the spot market, the fees are as low as 0.05% for makers and 0.08% for takers, with the chance to reduce expenses down to 0% for both makers and takers. For futures trading, fees are set at 0.02% for makers and 0.03% for takers, with the chance to reduce expenses down to 0% for makers and 0.005% for takers.
Withdrawal fees:
Only crypto withdrawals are supported on Woo Network. Users may withdraw from any supported cryptocurrency on the platform at any time. For crypto withdrawals, network fees are always applicable. However, the prices applicable to crypto withdrawals vary depending on the crypto being withdrawn and the chosen network.
Products and Services
Mobile Applications for Android/IOS Devices: WOO Network is also a great trading platform for mobile traders. WOO Network has developed mobile apps for IOS as well as Android users to make it easy for traders to access its trading features at any time, from anywhere. With the WOO Network mobile app, you can quickly move from one market to another and view real-time market data without delay. You can also trade or track your active positions and evaluate your portfolios.
Crypto staking: Users can stake their Woo tokens to earn interest. By betting on WOO, you not only get to make great interest rates, but you also get trading fee discounts on Woo Network, giving you a cheaper trading experience.
Additionally, WOO Network’s liquidity pools enable users to achieve an impressive 16% Annual Percentage Yield (APY) and significantly accelerate the growth of their investments.
Supports Popular Wallets, Networks, and Bridges: With WOO Network in Defi version, you can easily connect your crypto wallet to the exchange, jump between networks or bridges, or connect to another wallet in seconds.
WOO Network supports four different blockchain networks and three different bridges. Connecting your wallet to the exchange will give you access to your funds to trade or invest. For example, you can click your Metamask wallet, Wallet connect wallet, or Binance Chain wallet to the exchange.
Hold the Woo token for Trading Benefits: WOO is the native token of the WOO Network. The WOO token has many advantages for those who stake or hold WOO and keep it in wallets or accounts.
One of the main advantages of staking WOO tokens is free trading on the platform. All you need to do is bet at least 1800 WOO, and you are eligible for the free trading package. WOO also offers the holders a high return on investment on stakes and governance rights.
Adequate Educational Resources: WOO Network provides appropriate educational tools and guides to assist users in navigating the platform and understanding cryptocurrencies. Additionally, a news blog provides you with up-to-date information on the latest developments in the crypto world. Read all types of articles and enhance your knowledge and experience.
Woo Network Security
Woo Network doesn’t compromise regarding the safety of its user assets. The platform implements advanced security measures to help users secure their accounts and prevent losses due to theft or hacking. Some of these include two-factor authentication, Anti-phishing codes, and Allowlists.
Additionally, Woo Network provides proof of reserves, guaranteeing that the company funds back all user assets. The platform also meets the standards for information security (ISO/IEC 27001) as certified by BSI.
Woo Network customer support
WOO Network’s customer support services could be more satisfactory and require improvement. The platform offers users only one method of contact, which could be faster and more efficient. Furthermore, customers cannot contact WOO Network via telephone, text, or live chat.
Why Choose Woo Network?
Here are some of the top reasons why you should consider using Weex to trade or invest in cryptocurrencies:
Deep liquidity: One of the most essential features of the WOO network is that the platform offers its users deep liquidity and a smooth trading experience. Deep liquidity is the ability to execute a trade efficiently at a fixed price without impacting the market. WOO network is considered unique in this regard.
Low trading fees: Woo Network offers one of the lowest trading fees in the crypto market. Users have access to prices as low as 0.05% for makers and 0.08% for takers on the spot market, while for futures trading, fees are set at 0.02% for makers and 0.03% for takers.
Crypto Swapping with Defi: With Woo Network’s Defi protocol, you can quickly and easily swap your cryptocurrencies with any other crypto asset. You don’t have to worry about manual trading with the swapping option. With WOO Network, you can set a transaction time limit and select a tolerance for slippage.
Advanced Security: Woo Network implements advanced security measures, including two-factor authentication, Anti-phishing codes, and more, to help users secure their accounts and prevent losses due to theft or hacking. The platform also provides proof of reserves and has never been hacked.
Liquidity Pools: At WOO Network, there are many liquidity pools that you can explore and offer liquidity for profit. Most liquidity pools consist of 2 or more pairs with different cryptocurrencies, including stable assets and popular ones such as BTC. With WOO Network’s liquidity pools, you can generate up to 16% annual percentage growth (APY) and grow your portfolio faster and more efficiently.
Crypto staking: Users can stake their Woo tokens to earn interest. By betting on WOO, you not only get to make great interest rates, but you also get trading fee discounts on Woo Network, giving you a cheaper trading experience.
Guides and Tutorials: WOO Network offers the right educational resources and guides to help you navigate the platform and learn about cryptocurrencies. We also have a news blog where you can read the latest crypto news. Read all kinds of articles and improve your understanding and experience.
Customizable Trading Interface: WOO Network’s trading interface is, without a doubt, superior in terms of its features. Firstly, it allows traders to select from standard, professional, and customized layouts. Secondly, it offers a fast, dependable, and precise interface where users can customise their settings and explore the various features available to improve their trading experience.
Conclusion
WOO Network has changed the dynamics of cryptocurrencies through its platform. They offer three different layouts suitable for any level of expertise as a trader. They provide users with a free hand with their DeFi protocol and professional and advanced trading features for active trading.
WOO Network is the right option if you are looking forward to joining a reliable and professional crypto exchange.
Frequently Asked Questions
Is Woo Network Safe?
Yes, Woo Network is a very safe and reliable crypto exchange. The platform uses advanced security features, including two-factor authentication and anti-phishing codes, to help secure user assets. Additionally, Woo network provides proof of reserves to back user funds in case of any losses due to theft or hacking.
Is Woo Network Decentralized?
WOO Network is a system of centralized finance (CeFi) and decentralised finance (DeFi) services designed to enable deeper liquidity for various cryptocurrency market participants.
Can U.S. Residents use the Woo network?
No, Woo Network is not offered in the United States or to U.S. persons or other restricted jurisdictions as disclosed on the website.
Can you Buy Crypto on Woo Network?
Users can easily buy cryptocurrencies using various payment methods on the WOO Network. To purchase crypto, the platform supports multiple fiat currencies, including GBP, EUR, and USD. Woo Network works only with verified and trusted partners to give you a secure and seamless crypto-buying experience.
What are the Fees on the Woo network?
On the spot market, the fees are as low as 0.05% for makers and 0.08% for takers, with the chance to reduce expenses down to 0% for both makers and takers. For futures trading, fees are set at 0.02% for makers and 0.03% for makers, with the chance to reduce expenses down to 0% for makers and 0.005% for takers.
Crypto withdrawal fees depend on the coin and selected blockchain network. You can check out the outline of the fee structure for each coin and blockchain network on the website.
Does Woo Network require KYC?
Yes, Woo Network requires users to verify their identity through the KYC verification process before depositing funds and trading on the platform. The process usually requires uploading a valid ID and taking a live selfie.
Is KYC mandatory on third-party provider platforms when buying crypto with Fiat on Woo Network?
Before depositing by fiat, you must complete identity verification on WOOX. Additionally, the first fiat deposit with each service provider will require another KYC verification.
