Waterhole is a combination of a bitcoin wallet, a social messenger, an escrow service, and a marketplace. Find out everything you need to know about Waterhole today in our review.
What is Waterhole?
Waterhole, found online at Waterhole.io, is an app available for free for iOS and Android. The app lets you perform a variety of cryptocurrency-related tasks – including finding local brokers for your bitcoins and conducting international money transfers. In addition to working as a cryptocurrency wallet, Waterhole has a full-featured social network and escrow services.
Waterhole was made by Waterhole io LLC. The company lists offices in Texas, Beijing, and Hong Kong.
You can use Waterhole to perform a variety of cryptocurrency tasks. You can transfer money to friends and relatives internationally with a 0% fee, for example. Meanwhile, market makers pay a 1% fee and market takers pay a 0% fee.
The Waterhole mobile apps come with all of the following features and services:
Bitcoin OTC Trading: Waterhole offers a platform for trading multiple currencies over the counter (OTC).
Scalable: The Waterhole platform can be expanded to any market. It works as a platform for multiple currencies.
Buy Goods and Services for Cryptocurrencies: You can securely exchange bitcoin and other cryptocurrencies for goods and services.
Escrow: Waterhole’s escrow services ensure your trading and messages are protected. You also get real-time picture and video verification during transaction to prevent image alterations. Plus, there’s geo-location verification for cash deposits at the branch.
Find Local Traders: You can sort through a list of local traders to find people in your local area willing to buy or sell bitcoins.
Transfer Money to Friends and Family Globally: You can use Waterhole to transfer bitcoin and other cryptocurrencies to contacts anywhere in the world. It’s all done through a simple messenger interface.
Unified Dashboard: From the dashboard, you can view all trading activities and the status of your trades and transactions.
Social Networking: Waterhole is a full-featured social networking app that offers single chats and group chats. You can also share voice messages, pictures, and videos through the app.
Picture and Video Proof in Transactions: Request picture and video proof from buyers and sellers during a transaction. Once again, this is performed in Waterhole’s messenger-like interface.
Ultimately, Waterhole makes your bitcoins and cryptocurrencies more useful. You can easily and instantly transfer payments to friends and contacts around the world. You can also trade your coins for products and services in a peer-to-peer marketplace. Or, you can use Waterhole as a LocalBitcoins-like marketplace to find local buyers and sellers.
Many of Waterhole’s features revolve around the messenger – which looks almost identical to WhatsApp’s interface.
The Waterhole app is free to download. However, like most money transfer services, you’ll be paying a small fee when transferring money. Here’s how the fees break down:
- Market Maker: 1% per trade (ad posters pay 1%)
- Market Taker: 0%
- Family and Friends: 0%
- Smart Contract: 0 to 10% per escrow
The “Family and Friends” rate is for non-trading relationships. You can send gift packs to friends and family in BTC worldwide.
Waterhole was developed by Waterhole io LLC. That company consists of a team of developers based at three offices worldwide. There’s one office in Katy, Texas, for example, along with offices in Beijing and Hong Kong, China.
Key members of the Waterhole team include Ziqi Chen (CEO), Yang Yang (CTO), Jason Nguyen (COO), and Tony Wang (HR and Business Development). You can view full details about the team, including their Android, iOS, and web developers, here.
The Waterhole app was launched in December 2016. Today, the app is available in English, Arabic, French, German, Italian, Japanese, Korean, Portuguese, Russian, Chinese, and Spanish.
You can get in touch with the development team by email at email@example.com.
Waterhole is a marketplace, a messenger, a social network, and a cryptocurrency wallet all rolled into one app for iOS and Android. The app was launched in December, 2016. It’s available in a surprising range of languages and allows you to access a wide range of cryptocurrency features. You can find local traders who are willing to buy and sell bitcoin in-person, for example, or you can access the Waterhole marketplace to exchange your cryptocurrencies for real-world goods and services.
Whether you’re engaging in OTC bitcoin trading or you’re looking for a full-fledged marketplace, Waterhole may be worth checking out.