Platforms facilitating the trading of Bitcoin are in high demand, as traders all over the world are looking for reliable solutions. Moreover, as Bitcoin gains more positive attention, it attracts novice traders who want to their hand at figuring out the trading game as well. WhaleClub is one of the market-leading platforms in this regard, as they offer strong security at zero fees. We had a chance to sit down with the WhaleClub Director of Operations and Director of Partnerships, and ask them a few questions about their platform.

Also read: Ethereum Technical Analysis for 03/14/2016 – 0.0335 Turns Into Major Pivot Level!

JP: What is Whaleclub?

(WC): Whaleclub is a global zero-fee trading platform. Customers can start trading in seconds by using the bitcoin they deposit directly as margin for their trades – there is no need to link a bank account. It is pretty much the easiest way on Earth to trade bitcoin.

Here’s more about us: https://www.whaleclub.co/about

JP: How does Whaleclub work?

(WC): It’s very simple. You create an account, you deposit some bitcoin, and then you can go long or short the BTCUSD market with up to 10x leverage. You don’t have to use leverage if you don’t want to. You don’t provide any personally identifying information because we have no links to banks or fiat currencies. If you go long, and the price goes up, you make money; if you short and the price goes down, you make money. We wanted to make trading extremely simple while still providing a pro experience.

Here’s more about our business model: https://www.whaleclub.co/about/business-model

JP: Why should people choose you over other platforms?

(WC): We have many things that most other platforms don’t have, including:

– zero trade fees and full order execution;

– it’s very easy for anyone to start trading in seconds;

– full-featured demo trading

– automated trading performance tracking

– first-class customer and trading experience

As traders, we found a lot of problems with bitcoin trading platforms, and we wanted to fix them. We know fees can quickly take out profits, so we offer zero-fee execution on all orders, meaning market and limit orders are executed without any fees, contrarily to platforms which charge up to 5% fee per trade, which is enormous.

We also provide full order execution, meaning all your orders are executed instantly and fully. So market orders are executed in full at the best price available, and limit orders are executed in full at exactly the price you specify. This means there is no slippage, compared to other platforms, where you enter at market and your order hits multiple prices because of low liquidity, or you place a limit order, and your trade is only partially executed. These are two of the largest sources of losses for traders, and we eliminated them on Whaleclub.

Also, what you see is exactly what you get. If you see your active position’s return is +5%, and you click “Close” at market, you will receive exactly +5% – not like other platforms where you click close on a +5% position, and you receive a smaller return.

Here’s a full list of Whaleclub features: https://www.whaleclub.co/why

And here’s how we compare vs. others: https://www.whaleclub.co/vstherest

JP: Whaleclub is well-known among the Bitcoin community, but have you experienced any outspoken negative feedback from people, either before or after going private? Did this surprise you?

(WC): Whaleclub has been around since 2014. We have never really received piercing negative feedback – it has almost always been constructive. We think the reason for that is that we are very close and attentive to the bitcoin community’s needs.

Our live trading platform has been around for six months but opened to the public this January, and we are incredibly happy with the response and growth so far from the community.

JP: Can you tell us a bit more about how Whaleclub has evolved since its inception?

(WC):  Whaleclub was originally started by a TradingView chat member. It launched as a simple, real-time feed of bitcoin trade ideas. Trading signals were added soon after and this allowed people to subscribe to traders to receive real-time long or short signals among other things.

When we took over operations, we expanded trading with a greater interface. We started with demo trading, open to the public; in private, we had built and were testing live market trading.

We started Whaleclub out of frustration with the status quo and a love of bitcoin and the bitcoin community. It is strict company policy never to touch political currencies. We don’t touch banks.

We were also frustrated with all the substandard products and businesses that take advantage of their customers. For example, exchanges that provide 100x leverage and then slap a 0.5% fee (which is essentially 5% fee for every order execution). This sets customers up for long-term loss – whereas Whaleclub’s goal is to help clients make as much of a return as they can.

Whaleclub’s full history and evolution: https://www.whaleclub.co/about/story

JP: What are the long-term plans for Whaleclub? And how can Bitcoin community members help you achieve that goal?

(WC): Our mission is to make financial markets globally accessible through bitcoin. What this means in practice is to let anyone in the world trade any asset by using bitcoin only. To us, that is a powerful idea, and we are committed to making it a reality.

We listen very closely to what customers have to say, and we act on every piece of feedback.

The Bitcoin community has been very supportive all along. Many of the features currently on Whaleclub were built based on suggestions from them. We are in permanent contact with community members through Twitter, email, and other channels, and we hope to add more integrated community features on Whaleclub soon.

We expect nothing short of excellence from our team, and we are working seven days a week to bring the best products to our customers. We’re extremely happy with the great positive customer feedback that’s been coming in.

JP: I assume Whaleclub has taken notice in other interesting projects outside of Bitcoin. Could you shed some light on what makes a – not necessarily one in particular – digital currency project worthwhile to your company?

(WC): Our priority along with great security is customer satisfaction, so we are always focused on that. That is our north star. In everything we do, we want to improve customer satisfaction: better trading conditions, better UX, better support, more trading options, lower spreads. We work extremely hard on this.

So if we were to take on a project or add a digital currency pair to our trading offerings, we want to make sure that this is something that will provide a meaningful increase in customer satisfaction long-term. That is pretty much the only criterium we look at.

Our plans are to improve our current offer to our customers and start expanding into different assets including forex, equities, and indexes.

The Merkle would like to thank Jessica and Petar of WhaleClub to take the time and answer all of our questions.

Website: https://whaleclub.co

Images courtesy of WhaleClub Press Kit

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