According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 1 USDT
- Web platform
- Websea mobile applications
- Two-level security system, support for multiple cryptocurrencies
Our Evaluation of Websea
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Websea is a high-risk cryptocurrency exchange with the TU Overall Score of 2.12 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Websea clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
Websea presents a promising opportunity for both active and passive cryptocurrency investors. Its intuitive interface, diverse earning options, and advanced trading features make it an attractive choice for both beginners and experienced traders. However, potential clients should carefully consider the platform's relative newness and regional restrictions before engaging.
Brief Look at Websea
Websea, a cryptocurrency exchange launched in August 2023, offers a user-friendly platform for trading digital assets. Catering to a global audience of young investors, crypto enthusiasts, and experienced traders, Websea provides a comprehensive suite of tools including spot trading, futures trading with up to 100x leverage, Launchpool, Launchpad, copy trading, cryptocurrency buying and selling, and P2P trading. The platform also enables clients to earn passive income by staking idle funds.
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- User-friendly interface for both beginners and experienced traders.
- High-security level with two-factor authentication.
- Futures trading with leverage up to 1:100.
- Support for P2P trading without intermediaries.
- As a new platform, it has yet to establish long-term reliability, which may raise concerns for more cautious investors;
- Certain regions may face restrictions or difficulties in fund withdrawals, requiring clients to carefully review conditions before registering.
TU Expert Advice
Author, Financial Expert at Traders Union
Websea, a cryptocurrency exchange established in 2023, provides spot and futures trading, copy trading, and staking for passive income. It supports around 300 cryptocurrencies, including BTC, ETH, and USDT, and features a user-friendly platform backed by a two-factor authentication security system. Leverage for futures trading is up to 1:100, and no fees are charged for deposits or withdrawals.
However, Websea's platform is relatively new, lacking long-term reliability, and it is notably not regulated by any government authority, nor does it have an investor protection fund. Furthermore, certain regions may experience restricted access, including withdrawal issues, which could be a concern for risk-averse traders. Overall, while Websea offers diverse trading tools and opportunities, it may better suit traders who are willing to navigate a newer, less regulated exchange environment.
Websea Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Web platform, Websea mobile applications |
|---|---|
| 📊 Accounts: | Spot Account (VIP 0-VIP 10), Futures Account (VIP 0-VIP 10), Fiat Account, Game Account |
| 💰 Account currency: | USD, EUR, HKD, SGD, THB and Cryptocurrencies |
| 💵 Deposit / Withdrawal: | Cryptocurrencies, Credit / Debit Cards, ACH, SEPA, Giropay, PIX, SPEI |
| 🚀 Minimum deposit: | 1 USDT |
| ⚖️ Leverage: | Up to 1:100 (futures) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: |
Spot: 0.01. Futures: minimum contract size. |
| 💱 Commission: |
Spot: 0,2%-0,2% Futures: 0,035%-0,06% |
| 🔧 Instruments: | 300 supported coins, Futures. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market, Limit, Stop Loss Limit, Market Price Stop Loss |
| ⭐ Trading features: | Two-level security system, support for multiple cryptocurrencies |
| 🎁 Contests and bonuses: | Yes |
Websea offers favorable conditions for traders, including spot and margin trading with futures contracts. The platform supports various cryptocurrencies, such as BTC, ETH, USDT, and its native WBS token. Websea leverages TradingView charts, supports multiple order types, and guarantees fast execution.
Websea Key Parameters Evaluation
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Regulation and safety
With a 5.5/10 score, Websea demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- Facial recognition
- Cold wallet storage
- 2FA
- No successful hacks history
- Not U.S regulated
- Not tier-1 regulated
- Not government-regulated
- No investor protection fund
Websea Security Factors
We also compared Websea against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| Websea | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | No | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | Yes | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is Websea a regulated crypto exchange?
Websea is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean Websea is unreliable, government-regulated exchanges are generally considered more reliable due to the added oversight and client protection they offer.
Is verification (KYC) mandatory at Websea?
Yes, KYC verification is mandatory at Websea. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is Websea available?
Websea complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Spain, United Kingdom, Australia, Canada, Israel, Cyprus, Sweden, Latvia, Romania, Portugal, Switzerland, Netherlands, Singapore, France, Italy, Poland, Belgium, Norway, Czech Republic, Japan, Finland, Bulgaria, Korea, Estonia, Austria, Denmark, Germany, Lithuania, Ireland, Slovakia, Hungary. For the most up-to-date information on regional availability, please contact Websea support.
Is Websea available in the USA?
Yes, Websea is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
Websea commissions and fees
Websea received a 5.25/10 score for its trading fees. While Websea is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- No deposit fee
- No Withdrawal fee
- Futures fees above industry average
- Spot fee above industry average
What are Websea trading fees?
We analyzed Websea’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Websea trading fees vs competitors
| Websea | Huobi Global | WhiteBIT | Industry average | |
| Spot, maker fee (%) | 0,2 | 0,2 | 0,1 | 0.15 |
| Spot, taker fee (%) | 0,2 | 0,2 | 0,1 | 0.194 |
| Futures, maker fee(%) | 0,035 | 0,02 | 0,02 | 0.024 |
| Futures, taker fee(%) | 0,06 | 0,05 | 0,05 | 0.053 |
What are Websea deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0 |
Does Websea offer P2P trading?
No, Websea does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
Deposit and withdrawal
Websea received a 4/10 rating for its deposit and withdrawal services. Websea offers limited funding options and may charge fees, which could be inconvenient for many users.
- Bank cards accepted for instant deposits
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- No withdrawal fee
- Bank transfers not available
- No Google Pay option
- No PayPal option
Deposit and withdrawal options
Websea supports the following deposit and withdrawal options: Bank card, Crypto.
Websea Deposit and withdrawal options vs competitors
| Websea | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is Websea minimum deposit?
The minimum deposit at Websea is 1 USD/USDT or 0,00001 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Websea minimum deposit vs competitors
| Websea | OKX | Kraken | |
| Minimum deposit, USD or USDT | 1 | 10 | 10 |
| Minimum deposit, BTC | 0,00001 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 1 | 0,00001 | 1 |
Does Websea support fiat money?
Websea does not support fiat currencies; only cryptocurrencies are accepted.
Supported coins & markets
Websea received a score of 6/10 in this category, reflecting a solid selection of tradable assets and markets. Websea supports 300 cryptocurrencies and basic trading types, although some advanced features or asset diversity may be limited compared to leading exchanges.
- Crypto copy trading available
- Crypto futures available
- Staking available
- Yield farming not available
- Fiat currencies not supported
Websea supported coins and markets vs competitors
We compared Websea with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| Websea | OKX | Kraken | |
| Supported coins | 300 | 329 | 278 |
| Futures/Perpetual contracts | Yes | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
Websea passive income options vs competitors
We also compared Websea with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Contacts
| Official site | https://www.websea.com/en/ |
|---|
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