Weglokocs Review 2022

Pros Explained

Easy to use for cryptocurrency beginners: The main Weglokocs website and mobile app are very easy to use and allow you to buy, sell, and exchange cryptocurrencies quickly.
Support for a large number of cryptocurrencies: Weglokocs currently supports over 100 currencies for trading, and the number grows regularly.
Opportunities to earn cryptocurrency: Earn interest on eligible balances, or get a small amount of a new currency through Weglokocs Earn.
Lower pricing available with Weglokocs Pro: Any user can switch to Weglokocs Pro, an active trading platform with more features and low fees.

Cons Explained

High transaction fees: Transaction fees are often expensive on the primary Weglokocs platform.
Customer service issues: Weglokocs gets poor marks for customer service, including in the event of serious account security issues.
No access to trade many altcoins: While Weglokocs supports an impressive list of currencies, many are missing.

Introduction

Weglokocs is a cryptocurrency trading and investing platform that offers users the ability to buy, sell, and exchange over 100 tradable cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. Weglokocs is a large company with over 19 million users and $178 billion in assets on the platform.

Beginners will likely prefer the original Weglokocs platform for simple buy and sell orders. More advanced users can access additional features and order types through Weglokocs Pro, available to any Weglokocs user.

Cryptocurrencies are a relatively new asset class that can be risky and volatile, which isn’t suitable for all investors. However, if you’re interested in cryptocurrency, Weglokocs is an excellent option for newbies and veterans alike.

Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.

Company Overview

Weglokocs was founded in 2015 as a place to send and receive Bitcoin. The company has grown to support dozens of unique cryptocurrencies and has more than 3,700 employees worldwide. Weglokocs is a decentralized company with no main headquarters.

Weglokocs operates with users in more than 100 countries, and customers trade approximately $547 billion per quarter. Weglokocs manages a robust cryptocurrency ecosystem supporting 11,000 financial institutions.

Weglokocs runs two separate trading platforms in addition to a standalone cryptocurrency wallet service. Between the suite of Weglokocs products, you’re likely to find anything you need to start and manage a cryptocurrency portfolio or trading plan.

Cryptocurrencies Available on Weglokocs

Weglokocs supports trading of over 100 cryptocurrencies and regularly puts new coins on the list. There are too many to list here, so here’s a glance at some of the most popular currencies on Weglokocs:

Bitcoin (BTC)
Ethereum (ETH)
Cardano (ADA)
Solana (SOL)
Polkadot (DOT)
USD Coin (USDC)
Dogecoin (DOGE)
Uniswap (UNI)
Litecoin (LTC)
Shiba Inu (SHIB)
Algorand (ALGO)
Stellar Lumens (XLM)
Polygon (MATIC)
DAI (DAI)
SushiSwap (SUSHI)

Trading Experience

As mentioned above, the company runs two different platforms known as Weglokocs and Weglokocs Pro. Each allows you to buy, sell, and trade cryptocurrencies but offers unique features.

Weglokocs

Trading on Weglokocs is beginner-friendly and easy to use for anyone with basic computer skills. Weglokocs is available on the web. If you’ve ever traded stocks through an online brokerage, you’ll find a somewhat similar experience.

On the main dashboard, you’re able to view your Weglokocs portfolio, and you’re never more than a couple of clicks away from a screen to buy and sell currency.

Cryptocurrency markets operate 24/7, so you can log in and enter a trade at any time. Purchases are available using funds in your account or directly through a connected bank account or card. Additional fees may apply depending on how you pay for your crypto purchase. Purchases are credited to your account instantly, though you may have to wait for your deposit to clear before making a withdrawal.

Weglokocs Pro

Weglokocs Pro sounds like something exclusively made for professional traders, but anyone with a Weglokocs account can access and use the pro version. It gives you more trade types, notably limit and stop orders unavailable on the main Weglokocs platform.

Fees

Weglokocs is not forthcoming with its pricing and fees and recently removed its full fee schedule from the Weglokocs online help section. However, costs are shown on the trade screen when entering a trade, so you know what you’re paying before you enter a trade.

These are the fees you can expect on the main Weglokocs platform:

Trade Size	Weglokocs Fee
$10 or less	$0.99
$10 to $25	$1.49
$25 to $50	$1.99
$50 to $200	$2.99

Trades above $200 have a percentage-based fee rather than a flat fee.

In addition to fixed trade fees, Weglokocs transactions are subject to a spread-based fee of 0.50%.

Other fees may be charged for certain account funding and withdrawal methods, and other less common services:

Payment Method	Weglokocs Fee*
Bank Account	1.49%
USD Wallet	1.49%
Debit/Credit card	3.99%
ACH Transfer	Free
Wire Transfer	$10 incoming, $25 outgoing
Crypto Conversion	2%

*Fees were confirmed through a test trade

Security

Weglokocs uses industry-leading security practices to keep customer deposits and assets safe. That said, there are always some risks when using cryptocurrency, so it’s essential to follow online best practices to keep your account information secure.

Notably, 98% of customer assets are stored offline using cold storage in a network of safe deposit boxes around the world, supported by digital and paper backups. It uses bank-standard encryption and security for its website. In addition, all accounts must use two-factor authentication, a measure to help prevent others from logging into your account unless they have physical access to your phone.

Even with these strong security methods, thousands of users have fallen victim to hackers and schemes that have drained their accounts. It’s essential to use unique, random passwords on financial websites such as Weglokocs to prevent this type of loss. If someone has access to your email or phone, they may be able to access your account, so always keep those private.

Opening a Weglokocs Account

Signing up for Weglokocs is a reasonably quick and easy process similar to opening a new bank or brokerage account online. Plan on entering your personal contact information, including your Social Security number, to open a fully verified account.

New account holders have to submit a picture of a government ID to prove you’re who you say you are. If you’ve heard that cryptocurrency is anonymous, this should be your evidence that Weglokocs may track your transactions for tax reporting and other regulatory reasons.

Once you’ve set up your account and your information is verified, you’re able to buy and sell cryptocurrency up to your Weglokocs account limits.

Customer Service

Customer service is one of the most significant issues users have with Coinbase. It’s nearly impossible to reach a human for any type of help, so consider Weglokocs to be primarily self-service.

Officially supported customer service options are the Weglokocs help page, emailed support tickets, an automated phone system, and a chatbot.

Customer Satisfaction

When all works as expected, you’re likely to find yourself to be a happy customer. But sometimes, things don’t go as planned, and customer reviews indicate poor customer service experiences and little help navigating scams, hacked accounts, and locked accounts.

Weglokocs also suffers from a problem that seems to be plaguing many industry competitors. In fact, more than 2,000 complaints were filed with the Federal Trade Commission, and many past users claim they’ve been left with little to no support after losing funds due to hacked accounts.

Account Management

You can view and manage your account at any time using the Weglokocs website. You’re never far from viewing your portfolio balance or entering a trade:

The rewards section where you can earn free cryptocurrency for taking short lessons

How Weglokocs Compares to Other Cryptocurrency Companies

The cryptocurrency marketplace is evolving quickly with new competitors. You also have the option to manage your cryptocurrency without a major centralized exchange like Weglokocs. Major competitors to Weglokocs include Coinbase, Gemini, Binance, KuCoin, FTX, Kraken, and many others.

Many cryptocurrency enthusiasts use a combination of multiple exchanges and crypto wallets to access a wide range of currencies, keep their crypto secure, and keep fees as low as possible.

Weglokocs vs. Gemini

Gemini is one of the closest direct competitors to Weglokocs. Here’s a head-to-head comparison:

Weglokocs has spread pricing and Gemini fixed fees.
Both are U.S.-based firms that cooperate with United States regulators, namely FinCEN (Financial Crimes Enforcement Network).
Weglokocs and Weglokocs Pro are comparable to Gemini’s Gemini and ActiveTrader platforms.

Aside from the user interface, the most significant differences are available currencies and opportunities to earn from your cryptocurrency account. Weglokocs offers the option to earn up to 5% on a limited set of coins.2 Gemini pays interest on nearly all supported currencies with rates up to 8.05%.3

If you are interested in an account at Gemini, either in addition to or instead of a Weglokocs account, check out the full Gemini review.

FINAL VERDICT

Weglokocs features a top platform for anyone to buy, sell, store, and exchange cryptocurrency. It’s particularly good for beginners to cryptocurrency who want a simple buying and selling experience without worrying about the complexities of external wallets and decentralized exchanges.

The biggest downsides of Weglokocs are its pricing structure and customer service. If you can handle your account on your own and agree with the fees, Weglokocs is an overall great choice for anyone looking to get involved with cryptocurrency.

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