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
- WebTrader
- Support for 11 blockchains
- DeFi integration
- Cross-chain swaps.
Our Evaluation of WOOFi
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
WOOFi is a high-risk cryptocurrency exchange with the TU Overall Score of 2.35 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by WOOFi 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.
WOOFi is an online platform offering extensive opportunities for crypto traders and investors within the DeFi ecosystem. Its deep liquidity and variety of instruments make it a great choice for those seeking new ways to earn from cryptocurrencies. However, users should be aware of the lack of regulation and support for fiat currencies.
Brief Look at WOOFi
WOOFi, a decentralized exchange (DEX) launched in 2021, operates on 11 blockchains. As part of the WOO Network ecosystem, it offers a range of DeFi (Decentralized Finance) services including crypto trading, staking, and liquidity provision. As a DeFi platform, WOOFi is not regulated by traditional financial authorities. Its native token is WOO.
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- Deep liquidity and competitive cryptocurrency exchange rates;
- Integration with various DEXs and liquidity pools for a wide choice of trading and investing instruments;
- No KYC (Know Your Client) verification;
- Transparency and security ensured by smart contracts and blockchain technologies.
- Lack of regulation by official supervisory authorities;
- No support for fiat currencies or other traditional payment methods.
TU Expert Advice
Author, Financial Expert at Traders Union
WOOFi offers a comprehensive suite of services for cryptocurrency enthusiasts, with deep liquidity, support for 11 blockchains, and integration with various decentralized exchanges. It allows traders to engage in cryptocurrency trading, staking, and liquidity provision without the need for KYC verification. Its user-friendly interface supports cross-chain swaps and provides opportunities to earn through decentralized finance products.
However, WOOFi lacks regulation by recognized financial authorities and does not support fiat currencies, which may not appeal to those prioritizing regulatory oversight and traditional payment methods. Therefore, while WOOFi's offerings are attractive for crypto-native users and experienced traders seeking alternative investments, it may not be suitable for individuals who require more stringent regulation and fiat support.
WOOFi 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: | Proprietary WebTrader |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Digital currencies |
| 💵 Deposit / Withdrawal: | Crypto transactions |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:50 for perpetual futures |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Commission: |
Spot: 0,03%-0,06% Futures: 0,03%-0,06% |
| 🔧 Instruments: | Futures, Perpetual contracts, NFT. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Through browser |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Proactive market maker |
| ⭐ Trading features: |
Support for 11 blockchains; DeFi integration; Cross-chain swaps. |
| 🎁 Contests and bonuses: | Yes |
The WOOFi basic version features three tabs: Swap for cryptocurrency exchange, Stake for earning from WOO staking, and Earn — for optimizing yield through automated investment management. Leveraged trading is available only on WOOFi Pro for trading derivatives.
WOOFi Key Parameters Evaluation
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Regulation and safety
With a 5.75/10 score, WOOFi 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.
- 2FA
- Investor protection fund
- No successful hacks history
- Cold wallet storage
- Not tier-1 regulated
- No facial recognition
- Not U.S regulated
WOOFi Security Factors
We also compared WOOFi against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| WOOFi | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | No | Yes | Yes |
| Investor protection fund | Yes | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is WOOFi a regulated crypto exchange?
WOOFi is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean WOOFi 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 WOOFi?
Yes, KYC verification is mandatory at WOOFi. 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 WOOFi available?
WOOFi 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, Iran, Islamic republic, France, Italy, Poland, Belgium, Norway, Czech Republic, Japan, Finland, Bulgaria, Korea, Estonia, Austria, China, Denmark, Germany, Lithuania, Ireland, Slovakia, Hungary, Libyan Arab Jamahiriya, Syrian Arab Republic, Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact WOOFi support.
Is WOOFi available in the USA?
Yes, WOOFi 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.
WOOFi commissions and fees
WOOFi received a 6.5/10 score for its trading fees. While WOOFi is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- Spot fee below industry average
- No deposit fee
- Futures fees above industry average
- Withdrawal fee may be applied
What are WOOFi trading fees?
We analyzed WOOFi’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.
WOOFi trading fees vs competitors
| WOOFi | Binance | Bybit | Industry average | |
| Spot, maker fee (%) | 0,03 | 0,1 | 0,1 | 0.15 |
| Spot, taker fee (%) | 0,06 | 0,1 | 0,1 | 0.194 |
| Futures, maker fee(%) | 0,03 | 0,02 | 0,02 | 0.024 |
| Futures, taker fee(%) | 0,06 | 0,05 | 0,055 | 0.053 |
What are WOOFi deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | Network fees |
Does WOOFi offer P2P trading?
No, WOOFi 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
WOOFi received a 2.5/10 rating for its deposit and withdrawal services. WOOFi offers limited funding options and may charge fees, which could be inconvenient for many users.
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- No support for bank card payments
- Withdrawal fee applies
Deposit and withdrawal options
WOOFi supports the following deposit and withdrawal options: Crypto.
WOOFi Deposit and withdrawal options vs competitors
What is WOOFi minimum deposit?
The minimum deposit at WOOFi is 1 USD/USDT or 0 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
WOOFi minimum deposit vs competitors
| WOOFi | OKX | Kraken | |
| Minimum deposit, USD or USDT | 1 | 10 | 10 |
| Minimum deposit, BTC | 0 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 1 | 0,00001 | 1 |
Does WOOFi support fiat money?
WOOFi does not support fiat currencies; only cryptocurrencies are accepted.
Supported coins & markets
WOOFi received a score of 4/10 in this category, indicating a modest offering of assets and markets. While WOOFi covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Staking available
- NFTs available
- Yield farming available
- Copy trading not available
- Fiat currencies not supported
WOOFi supported coins and markets vs competitors
We compared WOOFi 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.
| WOOFi | OKX | Kraken | |
| Supported coins | spot not available | 329 | 278 |
| Futures/Perpetual contracts | Yes | Yes | Yes |
| Options | No | Yes | No |
| NFTs | Yes | Yes | Yes |
WOOFi passive income options vs competitors
We also compared WOOFi 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://fi.woo.org/ |
|---|
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