Bitcoin-Powered Whaleclub Crosses $1B in Total Trading Volume
The Hong Kong-based Whaleclub is a bitcoin trading platform that has amassed over 15,000 traders since it started in January of 2016. The trading engine is offered in over 190 countries worldwide and just recently surpassed US$1 billion worth of trades on the platform.
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Whaleclub Sees Significant Growth
Whaleclub started last year by creating a trading platform that allows the trading of foreign currency, stocks, and more using bitcoin as a payment vehicle. The company states that by utilizing a digital currency to power the trading it allows for significantly lower costs than fiat currency does.
The trading platform – led by CEO Perry Steegen and COO Petar Zivkovski – has seen significant growth over the past year. Furthermore, the company added a broad array of new features last month. Whaleclub now boasts over 15,000 traders and believes it is because of its sophisticated trading technology, low spreads, and fast execution throughout the system.
Bitcoin.com spoke with Whaleclub’s Petar Zivkovski. He told us the company’s unwavering focus on customer satisfaction propelled the trading platform this year.
Our goal is to make it incredibly easy for anyone to start trading, and bitcoin helps us achieve that. Fiat systems are sluggish and just a pain to deal with. Bitcoin enables a global, low-cost, fast, and private trading experience, and that’s what people get when they use Whaleclub.
Over $1 Billion Traded
Using the Whaleclub platform is pretty straightforward as users simply deposit bitcoin and choose a market they would like to trade in. For instance, customers can decide to trade crude oil shares, stocks like Apple or Amazon, precious metals, and national currencies. The platform runs 24-7, but some markets like stocks are closed for the weekends.
The interface has technical charts, and users can also opt to submit long and short positions on the platform. There are many options to choose from such as turbo trading, and a mobile trading application, as well. Whaleclub’s Petar Zivkovski believes the benefits of Bitcoin has primed the company’s success:
Crossing $1B in total trading volume is indeed an incredible milestone for the company, especially given the fact that we’ve been around for just over a year. It’s a testament to the utility and usefulness of bitcoin too – Whaleclub runs entirely on Bitcoin and is a textbook use case for the digital currency.
Mr. Zivkovski concluded: “It’s also a testament to the great opportunity that lies ahead. Whaleclub never touches dollars, fiat, or banks because we think those belong to the past. Our mission is to build a future powered by digital currency and I think we’re just getting started.”
Have you ever tried the Whaleclub trading platform? Let us know in the comments below.
Images via Shutterstock, and the Whaleclub website.
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