This is an online platform through which cryptocurrency holders can convert their coins from one digital currency to another. Unlike many of its competitors, CryptoWolf does not require its clients to register an account. Instead, the customers provide the address where the currencies are to be debited and another where the converted money will be deposited. This is possible because this platform does not hold user's funds.
The safety measures employed by CryptoWolf are unassailable since they are internally implemented, as opposed to other systems where a third party oversees security. The processing sped is a good as the safeness of the platform, as transactions are usually finalized within five to twenty minutes, depending on the level of traffic.
Perhaps the most significant shortcoming of this platform, CryptoWolf exclusively accepts cryptocurrencies as the means of payment. This means that yarders cannot deal in fiat currency, a factor that makes the experience significantly inconvenient.
Another notable flaw within CryptoWolf is the lack of a mechanism to display the current exchange rate for various virtual currencies. As a result, investors are often left speculating, as the system determines the prevailing rates by executing the placed user orders against each other. Nevertheless, the platform seeks to solve this by having a fixed price at each specific time depending on market trends.
How to use CryptoWolf
As mentioned earlier, the only prerequisites for trading over the CryptoWolf platform are the two-address involved in the transactions. The receiving address input box specifies the wallet in which the exchanged funds will be sent. It is worth noting that once authenticated, transactions done on this platform are irreversible. Therefore, it is imperative to verify the recipient address before confirming any deal to avoid unnecessary losses.
The exchange rate on CryptoWolf is self-derived, depending on the market trends. Users can access the miner fees on the platform's website. In an instance that the transactions fail to go through, users are prompted to provide a refund address where the cryptocurrencies will be returned.
Regarding deposits, the minimum acceptable amount is the virtual currency equivalent of $100. If a user makes a lesser deposit, their transactions are automatically withheld until they meet the stipulated threshold. Typically, deposits reflect within a short time, but if they do not after 24 hours, the transactions are canceled and the funds sent back to the user.