FAQ

About Wunderbit

Wunderbit is one of the world pioneers in licensed cryptocurrency trading. We are an accredited and regulated financial institution that allows its clients to buy and sell Bitcoin safely and securely.

Established in Estonia in 2018, Wunderbit is run by a passionate team of experts from the fields of finance, trading, anti-money-laundering, and software development.

You can acquaint yourself with our certificates, licenses, and accreditations here.

How do I get started with Wunderbit?

All you need to sign up for a Wunderbit account is to provide a valid email address and create a password. After creating your account, you will need to go through a short verification procedure to confirm your identity. Once you are verified, you will be able to start trading immediately.

If you will want to expand your trade limits in the future, you will be able to do that by going through additional levels of verification.

Wunderbit only asks for, stores, and uses data which is strictly necessary to provide you with its service and to comply with applicable laws and regulations

What is Bitcoin?

Often called ‘the future of money’, Bitcoin is the world’s most popular and widely-recognized digital currency. Unlike traditional currencies, Bitcoin is not controlled by any government or central bank. Instead, Bitcoin runs on a decentralized, peer-to-peer system secured through advanced cryptography. 

While traditional currencies are inflationary and are designed to depreciate in value over time, Bitcoin is a deflationary currency with an eventual supply limit of 21,000,000 coins. This lack of designed inflation makes Bitcoin a good option for storing wealth.

What is Blockchain?

The blockchain is an innovative technology that serves as the backbone of Bitcoin. At its simplest, the blockchain can be explained as a multifaceted, digital record-keeping system that secures, verifies, and stores data on all Bitcoin transactions. The blockchain is not stored on any central server, but is instead distributed through a decentralized, peer-to-peer system. Bitcoin’s blockchain is completely open and transparent, which helps ensure its security and protect users from fraud.

How to buy Bitcoin?

In order to buy Bitcoin, you have to register a Wunderbit account and go through the verification procedure. Once you are verified, you will be able to buy and sell Bitcoin using several payment methods.

How to sell Bitcoin?

In order to sell Bitcoin, you have to register a Wunderbit account and go through the verification procedure. Once you are verified, you will be able to buy and sell Bitcoin using various means of payment.

Is it possible to buy Bitcoin without verification?

Wunderbit is an accredited financial institution that complies with all the rules and regulations governing the cryptocurrency sector. In order to meet legislative requirements and provide our clients with a safe and reliable service, we cannot offer users to buy or sell Bitcoin anonymously. 

Our registration process is quick and simple. We only ask for and store the bare minimum of user data necessary to ensure our service. Wunderbit is GDPR compliant, ensures top-grade data security, and will never disclose your data to any third party without your express consent.

To find out which documents are required for specific levels of verification, please consult the dedicated section of our website.

How to get verified?

Once you have registered a Wunderbit account and confirmed your email, you will be able to gain Level 1 authentication by:

  • providing your full name and address;
  • uploading a high quality scan of a personal identity document;
  • uploading a high quality photo of yourself holding the same document.

In order to gain Level 2 authentication, you will need to:

  • upload a high quality photo of your bank account statement in which your name, surname, the name of the bank, and your account number are clearly visible;
  • upload a high quality photo of yourself holding the same bank statement.

Please not that we only ask for and store the bare minimum of user data necessary to ensure our service. Wunderbit is GDPR compliant, ensures top-grade data security, and will never disclose your data to any third party without your express consent.

What are the limits?

Your transaction limits and available means of payment depend on the verification level of your account:

Level Requirements Payment methods Minimum amount Limits
0   Payment Card 50EUR daily: 20 000 EUR
monthly: 50 000EUR
1 Personal info
Address
Personal identity
Payment Card 50EUR daily: 20 000 EUR
monthly: 50 000 EUR
    Skrill 200EUR daily: 3 000EUR
monthly: 15 000EUR
2 Bank statement
Proof of address
Payment Card 50EUR daily: 20 000EUR
monthly: 50 000EUR
    Skrill 200EUR daily: 3000EUR
monthly: 15000EUR
    Bank transfer 500EUR daily: 50 000EUR
monthly: 50 000EUR

You can check your current limits here.

What are the fees?

The fees and commissions differ depending on the type of transaction. They made include a:

  • bank transfer fee;
  • debit/credit card processing fee;
  • Bitcoin transaction fee;
  • Wunderbit’s commission.
What is the Bitcoin price at Wunderbit?

The price of Bitcoin at Wunderbit is equivalent to the price of Bitcoin on the largest cryptocurrency exchanges. Unlike many of our competitors, who attempt to hide their fees in manipulated exchange rates, we at Wunderbit are open and transparent about the commissions we charge. 

You can check the current Bitcoin price in your Dashboard

Is it possible to open a corporate account at Wunderbit?

Please contact us at info@wunderbit.co for more details.

Which countries are supported?

For various payment methods banned country list differ.

To buy bitcoin with payment cards

Banned FATF Countries:

1. Afghanistan 2. Bosnia and Herzegovina 3. Region of Crimea 4. Cuba 5. Iran 6.Iraq 7.Democratic People’s Republic of Korea  8. Lao People's Democratic Republic 9.Serbia 10.Sri Lanka 11.Sudan 12.Syrian Arab Republic 13.Trinidad and Tobago 14.Tunisia 15.Uganda 16.Vanuatu 17.Yemen

Banned Virtual Currency Countries:

1. Algeria 2.  Bangladesh 3. Bolivia 4.Cambodia 5.China 6. Kyrgyzstan 7. Macedonia 8. Nepal 9.Nigeria 10. Thailand

To buy bitcoin with Skrill

Following countries are banned:

Afghanistan, Angola, Barbados, Benin, Burkina Faso, Cape Verde, Comoros, Crimea, Cuba, Djibouti, Eritrea, Faroe Islands, French Polynesia, Gambia, Greenland, Grenada, Guadeloupe, Guyana, Iran, Iraq, Japan, Kyrgyzstan, Lao People's Democratic Republic, Libya, Macao, Martinique, Namibia, New Caledonia, Niger, North Korea, Palau, Reunion Samoa, Sudan, (North and South) Suriname, Syria, Tajikistan, Togo, Turkmenistan, United States of America