WOO Network Review 2022

WOO Network Review 2022

Robert McDougall 

August 8, 2022

Cryptocurrency

What is WOO Network?

WOO Network is a deep liquidity cryptocurrency exchange that provide services to empower individuals, corporate users, and even other cryptocurrency exchanges. Established in 2018 and currently based in Taipei City, WOO Network provides reliable, secured, safe, and superior trading experience with instant execution, thanks to their immense liquidity.

The rapidly expanding exchange aims to bring advancement and revolution to the blockchain industry. WOO Network was incubated by Kronos Research, a trading firm that specializes in high-frequency trading and averages over $5 Billion in daily trading volume.

One exceptional thing about WOO Network is that they have divided their exchange into three different categories that service institutional users, casual traders, and Defi users separately according to their preferences, requirements, and likings. But the features they offer can benefit all types of crypto users who can trade on the platform as well as swap their cryptocurrencies, stake them, or start earning through liquidity pools. If you want to trade, simply register on the WOO X version of the platform. WOO Network supports users from all over the world, except for a few territories and regions. But if you want to get started instantly, you can connect your wallet to WOOFi and start swapping, investing, and earning.

  • Web Address:  www.woo.org/network
  • Main Location: Taipei City
  • Cryptocurrencies: BTC, ETH, WOO, SOL, XRP, BNB, MATIC, and 90+ more
  • Fiat Currencies: GBP, EUR, USD, BRL, VND, and JPY
  • Mobile App: For Android phones and iOS devices
  • Payment Methods: Credit/Debit Cards, Cryptocurrency
  • Deposit Fees: Crypto: free, Fiat: fee charged when purchasing crypto through payment merchants
  • Withdrawal Fees: Varies for each coin
  • Trading Fees: 0.03%. If you stake 1,800 WOO coins, you can trade with zero fees

My Overall Thoughts on WOO Network

There are some businesses, entities, and platforms that are solely focused on the betterment and advancement of the industry they are working in; WOO Network is one of them. Aside from changing the concept of crypto trading, the platform is also making things easier, better, and more efficient. Their exchange is designed explicitly for three different types of users, enabling them to trade, invest, earn, and swap in one place, without facing major issues.

WOO Network is also one of the very few crypto exchanges to offer an almost-free crypto trading experience. Traders are also provided with deep liquidity to make their experience hassle-free and smooth. But do you know what I love the most about them? Take a look below:

1) Buy and swap cryptocurrencies: With a front-end trading interface, users can purchase a variety of cryptocurrencies through their fiat assets. Through their Defi exchange, they can swap their assets by selecting a particular network, slippage tolerance, and transaction deadline. These features allow the traders to easily and efficiently get their hands on whatever assets they want.

2) Premium trading interface and layout: The trading interface of WOO Network is unquestionably superior due to its features. First, they allow the traders to choose between standard, professional, and customized versions of their layout. Then you get to experience a fast, reliable, and accurate interface where you can implement your own settings and play with the available features to enhance your experience.

3) Earning with staking and liquidity poolsBy staking WOO, you not only get to earn great interest rates, you also get countless benefits on the platform, making your trading experience cheaper. With liquidity pools, you can earn up to 16% APY by providing liquidity to the suitable pools.

The only aspects that WOO Network has to focus on are their customer support and the addition of more payment merchants. Otherwise, they can be an excellent choice for all types of traders and investors.

Key Features and Advantages of Woo Network

With its modern exchange design, WOO Network seeks to bring innovation, revolution, and transformation in the blockchain industry. There are very few crypto exchanges available on the internet that serve standard users and bring a solution for Defi users as well as institutional-grade traders. Not only that, they are working endlessly to provide their users complete freedom by letting them customize the layout and interface just as they want. WOO Network also claims to be one of the very few crypto exchanges with literally no or very low trading fees along with deep liquidity.

You can trade professionally and explore their endless features. And, of course, the Defi version is a cherry on top for those who want to invest, swap, and earn with their digital assets. But there is more to WOO Network, and you can check out their key features below:

Negatives and Disadvantages of Woo Network

There are a few negatives and disadvantages of WOO Network that you should keep in mind:

What Services Does Woo Network Offer?

An institutional-grade cryptocurrency exchange claiming to be offering their services for zero or low fees that, too, with deep liquidity, sounds too good to be true, right? Not the case with WOO Network. They actually provide their trading services for a very low fee and for free to those who hold a small amount of their native token. The exchange brings diversity in their trading services and allows the users to opt for front-end exchange, Defi exchange, and institutional version.

You can trade professionally, customize your experience, invest your digital assets, swap your cryptocurrencies, and create a workflow in a safe and secured environment with unbelievably low prices. But that is not all that WOO Network has to offer to their users. You can take a look below to see what services the exchange offers.

Separated into three different categories: One of the unique things about WOO Network is that they have separated their platform into three different categories. One is suited for the traders who are looking for a front-end trading experience, one is designed for Defi users, and the third one is for institutional-grade traders or entities.

These three different categories allow the traders to choose the option that suits their needs. You can also instantly switch between the CeFi and Defi versions of the exchange and perform your crypto activities without any restrictions. To trade, you have to sign up on the CeFi version of the exchange. To invest, swap, or earn, you can simply connect your wallet to the platform and continue your crypto journey. For the institutional version, you need to request a B2B demo and then see how things go.

It does not matter what type of trader you are or what you want to do; WOO Network has a solution for all your needs. 

Trade spot and futures with deep liquidity: The main highlight of WOO Network is that the platform comes with deep liquidity and provides their users with a seamless trading experience. Deep liquidity refers to how efficiently you can execute a trade at a stable price without affecting the market, and WOO Network is considered quite remarkable in this aspect.

WOO Network offers two trading markets. You can trade spots and trade futures, providing users with even more opportunities to earn and prosper. Spot trading comes with a fundamental formula for buying and selling assets, which is more suited to casual and beginner-level traders. On the other hand, futures allow the traders to leverage their trades and use margin to enhance the overall returns. However, futures also come with risks that users should keep in mind.

WOO Network offers trading opportunities for all types of traders, whether you are a low-risk trader, an advanced trader, or a complete amateur.

More than 90 cryptocurrencies are available: WOO Network offers more than 90 cryptocurrencies that users can trade on the platform. These include BTC, ETH, AAVE, MATIC, SAND, and many other names that are popular, along with the ones that are relatively new or are traded at a low price.

Having a great variety of cryptocurrencies to trade on a platform allows the traders to explore different markets and evaluate their chances of winning in different scenarios. They can also diversify their trading portfolio by investing their money in different markets. You can even get a better understanding of how markets move and how they can benefit you.

A considerable amount of cryptocurrencies to trade also does not limit the users to a few assets only. This might even help you lower risk and increase your chances of winning by investing in more than one market.

Customizable, advanced, and professional trading interface: The WOO Network trading interface is not like standard interfaces that just allow the traders to execute the trades or play with a few features. It provides three different options: standard, advanced, and customized.

The standard trading interface comes with many features, but they are more suited to the amateur trading community. The advanced interface serves the professional and experienced traders the best, whereas the customized interface gives traders a freehand to do whatever they want. The interface provides a fast, accurate, and responsive chart for every single asset or pair available on the platform. Along with the chart comes different features and options like integrating indicators, using drawing tools, or replacing the candles, time zones, and other such things that might offer you better insights. You can also go full-screen mode for ultimate focus or try out their compare feature for evaluation. The exchange also provides a separate order execution panel through which you can customize your trades and execute the orders accordingly.

You will never have to compromise on your trading experience ever again. With the features WOO Network offers, you can trade professionally, whether you are an experienced trader or a trader with only basic knowledge.

Mobile applications for Android/IOS devices: WOO Network also provides an excellent trading environment to mobile traders. It has developed mobile applications so that users can easily access their trading features anytime, anywhere.

You get all the trading features you would want on a mobile device. You can easily switch between different markets and check out their real-time data without any lag. You can monitor your active positions and evaluate your portfolios accordingly. You can even execute orders through your mobile phone whenever you want, thanks to their fast and responsive mobile apps.

You are always connected to your crypto portfolio and will never miss a chance to trade. WOO Network’s mobile applications are available for Android and IOS devices and can be installed through their respective application stores. You can also scan the QR code to install the applications quickly.

Popular wallets, networks, and bridges are supported: With the Defi version of WOO Network, the exchange supports several popular crypto wallets, networks, and bridges. There is an option to quickly jump between the networks or the bridges or connect to a different wallet within seconds.

Supporting several popular crypto wallets allow most of the users to easily connect their wallet with the Defi protocol and access their funds to swap or invest. WOO Network also supports four different blockchain networks along with three different bridges. You can connect Metamask, Walletconnect, and Binance Chain Wallet to the exchange to access your funds.

You won’t have to worry about moving your funds to a new wallet just because WOO Network does not support it. But you might face some problems if your funds are stored in a not-so-popular wallet as WOO Network currently only supports the popular ones.

Swap cryptocurrencies instantly with Defi: You can purchase a variety of cryptocurrencies through the trading platform of WOO Network, but fast and easy swapping can be done through their Defi protocol.

With the swapping option, you can instantly exchange your cryptocurrencies with other crypto assets without the hassle of manual trading. WOO Network also allows users to set a transaction deadline along with the option to choose slippage tolerance.

Without worrying about liquidity, efficiency, and high exchange fee, you can swap your assets with the swap option available at the WOOFi version of the exchange. 

Hold WOO and get benefits: WOO is the native token of WOO Network. It is embedded within the services offered by their CeFi and Defi versions of the platform. WOO comes with many benefits for those who simply stake it or hold it and keep it in their wallets or accounts.

One of the biggest benefits of staking WOO tokens is that you get to trade absolutely free on the platform. You just have to stake 1800 WOO on the platform, and you are entitled to receive your free trading package. WOO also provides great yield returns to the stakers as well as governance rights to the people who hold it. With the burning mechanism, the developers are hoping for the price of the token to go up in the future and benefit the holders even more.

By simply holding or staking a little amount of WOO on the exchange, you can get immense benefits that can be worth it in the longer term.

Earn up to 16% APY with liquidity pools: There are a lot of liquidity pools available at WOO Network that you can check out and provide liquidity in order to earn. The liquidity pools mostly consist of two or more pairs having different cryptocurrencies, including stable assets along with the popular ones like BTC.

With the liquidity pools offered by WOO Network, you can earn a whopping 16% APY and grow your investments much quicker and more efficiently. Of course, the returns also depend on the pool size and provided liquidity, and might vary from time to time.

Providing liquidity to pools can be a great way to earn and make your idle crypto assets work for you. You can save your cryptocurrencies from devaluation and get the returns that would be worth it in the end.

Detailed guiding content is available: WOO Network has already made it very simple for traders by categorizing their exchange and letting users choose between beginner-friendly and amateur trading interfaces. Moreover, the platform offers detailed guiding content to users.

There is also a news blog that keeps you updated with the latest moves in the crypto industry. You can read all types of articles there and increase your knowledge and experience.

Even if you are a complete beginner without prior knowledge about the blockchain industry, the support center and the blog will help you go through all the phases with ease.

Things I Don't Like About Woo Network

WOO Network has some negatives that can affect your experience. Of course, the negatives mentioned below do not affect the whole community, but it is still a good idea to be aware of them before joining the platform.

Not the best customer support: The customer support offered by WOO Network is definitely not up to the mark and needs to be improved. The platform provides users with only one way to get in touch with them, which is too slow and inefficient. You cannot call or text them, and there is no live chat option either. The only way to contact them is to submit a support request and then wait for hours to get a response.

Meager variety of payment methods for purchasing crypto: WOO Network does allow the users to purchase cryptocurrencies. However, the third-party payment merchants they have partnered with are so few. In my particular case, there was only one payment merchant available, and they were only offering the payments through credit or debit cards. This means you won’t be able to use bank transfers, ACH, international wire transfers, or even Google/Apple Pay.

WOO Network need to bring more merchants to the platform or offer their own payment methods.

WOO Network Fees

WOO Network Deposit Fee

All crypto deposits are free on WOO Network. But if you are purchasing cryptocurrencies through third-party merchants, you have to pay a specific percentage as a fee to the providers.

WOO Network Trading Fee

The standard trading fee at WOO Network for takers and makers is 0.03%. But you can trade for absolutely free on the platform by staking 1,800 WOO coins. If you decide to stake more than 25,000 WOO, you will receive a rebate (get paid a reward!) when trading as a taker.

WOO Network Fiat Withdrawal Fee

Fiat withdrawals are not supported at WOO Network.

WOO Network Crypto Withdrawal Fee

All the crypto assets available to withdraw at WOO Network come with a specific fee. For instance, the platform charges a fixed fee of 0.0005BTC per withdrawal, whereas the fee for withdrawing AAVE is 0.1 AAVE. But users also get daily free withdrawals ranging from 1 to 50 depending on how much WOO they have staked.

Pros and Cons of Woo Network

Pros
  • Categorized in three different sections
  • Trade futures and spots
  • Customizable trading interface
  • Buy and swap crypto assets with ease
  • Stake and provide liquidity to earn
Cons
  • Below-average customer support
  • Less number of payment merchants are available

The Verdict

Change is achieved by those who try to do things differently by seeking what benefits others and how it can be useful for the industry. This pretty much sums up the vision of WOO Network that changed the dynamics of cryptocurrencies through their platform. Offering three different types of layouts is something new for crypto users, but it is probably one of the best things they have experienced in the blockchain industry. They provide users with a complete free hand with their DeFi protocol and a professional and advanced trading experience designed for beginners and experienced traders.

WOO Network claims that they have unified all the trading essentials in a single place, and that is how they are growing their ecosystem and attracting more and more users towards them. Be it their mobile applications, different versions of the exchange, or the features available, the diversity is remarkable and can be quite appealing for many. So, if you are looking forward to joining a professional and futuristic trading exchange, WOO Network is the place to go!

Woo Network is not available for US residents, so if you are from the US, you can read our article on the best crypto exchanges in the USA. There is also a quick comparison table below to help you with your decision.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Gemini
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Gemini
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, AUD, CAD, EUR, GBP, SGD, HKD
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, BCH, DOGE & 90+ more
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank transfer (ACH), Debit card, Wire Transfer, Cryptocurrency
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
From 0.25% (maker) and 0.35% (taker)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Does WOO Network provide their services in the US?

Unfortunately, WOO X is not available for users residing in the US. WOO Network also restricts users from other countries like China, Zimbabwe, and a few more. But WOOFI can be accessed by anyone with funds in the supported crypto wallet.

Can you earn money on WOO Network?

Yes, WOO Network provides several ways for their users to earn. You can either stake the native token of the platform to earn or provide liquidity to the pools to be eligible for rewards.

Is WOO Network a safe cryptocurrency exchange?

Yes, WOO Network is a safe and secured cryptocurrency exchange that has been in business for about half a decade now. With their security measures, you can always have peace of mind when trading or investing.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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