Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Pros & Cons
- 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.
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.
TU Expert Verdict
WOOFi carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Crypto Exchanges Traders Prefer
WOOFi User Reviews
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WOOFi Commissions and Fees
Score:This category evaluates trading costs and the transparency of deposit and withdrawal charges according to the Methodology. It covers spot and futures trading fees, P2P exchange costs, deposit/withdrawal fees, and tiered fee structures. The assessment ensures that fees are competitive and clearly disclosed, avoiding hidden or excessive costs. Each factor is scored based on defined criteria, contributing to the overall rating.6.5 /10WOOFi 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 Nexus Trade CoinMetro Industry average Based on the evaluation of over 100 leading crypto exchanges Spot, maker fee (%) Maker fees are charged when liquidity is added to the order book. This occurs by placing a limit order below the current market price for buy orders, or above the market price for sell orders. 0.03 0.22 0.1 0.15 Spot, taker fee (%) Taker fees are charged when liquidity is removed from the order book. This typically happens when a trade is executed at the market price. 0.06 0.22 0.2 0.194 Futures, maker fee(%) 0.03 0 0 0.024 Futures, taker fee(%) 0.06 0 0.053 What are WOOFi deposit and withdrawal fees?
Deposit fee, % Important! Even if an exchange does not charge fees for deposits and withdrawals, there can also be fees from the payment system or cryptocurrency network used by the user. For example, the network fee for USDT TRC20 is typically around $1. 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.
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Regulation and Safety
Score:Our evaluation encompasses several key factors, including government regulation, two-factor authentication (2FA), cold wallet storage of client assets, investor protection funds, KYC protocol adherence, year of foundation, and history of security breaches. Read more in our Methodology5.8 /10With a 5.8/10 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
- No successful hacks history
- Cold wallet storage
- Investor protection fund
- Not tier-1 regulated
- Not government-regulated
- No facial recognition
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 Security Factors WOOFi Coinbase Kraken Tier-1 regulation NoYesYesGovernment-regulated NoYesYesInvestor protection fund Provides compensation to users in case of financial loss due to unforeseen circumstances on the platform. YesYesNo2FA YesYesYesFacial recognition NoNoNoCold wallet storage The majority of user funds are held offline, reducing vulnerability to online attacks. YesYesYesSuccessful hacker attacks We review publicly available information on past security breaches to assess the exchange's security track record. NoYesNoIs WOOFi a regulated crypto exchange? Regulation is crucial for the security and legitimacy of a cryptocurrency exchange. We assess the exchange’s regulatory status and its impact on platform reliability.
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.
Is WOOFi available in the USA?
WOOFi is not available in the USA due to regulatory restrictions. In some cases, access might differ by state, so we recommend confirming details with the platform’s support or checking the official website for the latest updates.
You may also consider the top 3 exchanges that are available in the USA and rank highly based on our methodology: Coinbase, Kraken, OKX .
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Deposit and Withdrawal
Score:We evaluated the deposit and withdrawal experience, considering several key factors such as the range of available methods, transaction processing speed, minimum deposit requirements, and associated fees. Read more in our Methodology.2.5 /10WOOFi 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.
- Many cryptocurrencies for deposits and withdrawals
- No deposit fees
- No PayPal option
- Withdrawal fee applies
Deposit and withdrawal options
WOOFi supports the following deposit and withdrawal options: Crypto.
WOOFi Deposit and withdrawal options vs competitors
WOOFi Coinbase Kraken Bank transfers NoYesYesBank card NoYesYesCrypto YesYesYesPayPal NoYesYesWhat 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 Coinbase Kraken Minimum deposit, USD or USDT 1 10 10 Minimum deposit, BTC 0 1 1 Minimum trade amount, USD/USDT 1 2 1 Does WOOFi support fiat money?
WOOFi does not support fiat currencies; only cryptocurrencies are accepted.
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Supported Coins & Markets
Score:Evaluates the range of available cryptocurrencies, fiat currencies, and markets, as well as investment tools like staking, farming, and other yield options. Read more in the Methodology section.3.5 /10WOOFi received a score of 3.5/10 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.
- Crypto futures available
- Staking available
- Yield farming available
- Fiat currencies not supported
- Copy trading not available
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 Coinbase Kraken Supported coins - 400+ 400+ Futures/Perpetual contracts YesYesYesOptions NoNoNoNFTs YesYesYesTokenized Assets Digital tokens representing real-world assets, such as stocks, bonds, commodities, or real estate. NoYesYesTradFi Perps Perpetual futures contracts linked to traditional financial assets, such as stocks, indices, or commodities. NoYesYesPrediction Markets Markets where users trade contracts based on the outcomes of future events. NoNoNoOther Assets NoPre-IPO Forex, IPO 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.
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Customer Support
Score:We evaluated Customer Support at WOOFi based on the availability of live chat, email, phone support, ticket systems, help center resources, 24/7 assistance, multilingual support, and response time. Our assessment focuses on support accessibility and responsiveness. Learn the assessment criteria5.5 /10WOOFi offers a moderate level of customer support, covering basic communication channels and assistance options.
In TU testing, the exchange showed mixed results in support accessibility and responsiveness. Certain limitations in contact options, availability, or support resources may make it less convenient for users requiring immediate assistance.
- Comprehensive help center available
- 24/7 customer support available
- Live chat support available
- Limited language support
- No dedicated support ticket system
WOOFi Support Channels vs Competitors
WOOFi Coinbase Kraken Live Chat YesYesYesEmail Support NoNoNoPhone Support NoNoNoTicket System NoYesYes24/7 Support YesYesYesHelp Center / FAQ YesYesYesMultilingual Support NoYesYesContacts Official site https://fi.woo.org/
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FAQs
How safe is WOOFi as a cryptocurrency exchange?
WOOFi has a safety score of 5.8/10, indicating a moderate level of security and regulation. The exchange uses cold wallet storage, an investor protection fund, 2FA, and has no history of successful hacks, but it is not government-regulated, not tier-1 regulated, and does not offer facial recognition.
What fees does WOOFi charge for trading, deposits, and withdrawals?
WOOFi charges spot maker and taker fees of 0.03% and 0.06%, respectively, and the same 0.03% maker and 0.06% taker fees for futures trading. Deposits are free, while withdrawals incur network fees, and the exchange does not support P2P transactions.
What are the deposit and withdrawal conditions at WOOFi?
WOOFi has a deposit and withdrawal score of 2.5/10, reflecting limited funding options and potential fees. The exchange supports only cryptocurrency for deposits and withdrawals, charges no deposit fees, and does not offer PayPal, bank transfers, bank cards, or P2P transfers.
Which markets and passive income options are available on WOOFi?
WOOFi has a markets and tradable assets score of 3.5/10 and offers core features such as crypto futures, perpetual contracts, NFTs, staking, and yield farming. It does not support crypto options, tokenized assets, TradFi perpetuals, prediction markets, or copy trading.
How does customer support work at WOOFi?
WOOFi has a customer support score of 5.5/10, providing a moderate level of assistance. Users can access 24/7 live chat and a help center/FAQ, but there is no email, phone, ticket system, or multilingual support.
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