WonderFi (OTCQB: WONDF) is one of Canada’s fastest growing crypto companies. WonderFi was launched back in January 2021 and since then, they have broken into the world cryptocurrency, giving everyday folks a fair and accessible way to access finance opportunities.
WonderFi aims to give everyone an easy way to access DeFi in the smartest and most secure way possible. Through their exceptional tools, superb product range and easy to access platform, WonderFi are taking major strides in the world of cryptocurrency, will this company be the next giant in the industry? Read on to find out..
The WonderFi Service
Moreover, by recently merging with CoinSmart and Coinsquare, will be one of the largest regulated crypto trading platforms in the world, and the only crypto asset trading platform licensed in Canada.
WonderFi is steadily trying to reshape the future of finance. The platform offers an easy way to access decentralized and regulated centralized crypto trading platforms.
With its 2 core products in Bitbuy and Coinberry, WonderFi has cultivated a crypto trading ecosystem that is ideal for both the novice and advanced crypto trader alike. Bitbuy and Coinberry both offer unique trading possibilities that cater to every kind of crypto trader.
WonderFi are more than just a little familiar with getting in on the action before any of their competitors. Since they got their start in 2021, WonderFi has become a company of firsts. They were the first publicly traded crypto platform on the Toronto Stock Exchange while also achieving the largest merger and acquisition of Bitbuy in Canadian history, for a staggering $206M.
In terms of their offering, WonderFi has been on the forefront of providing users with the best possible finance conditions and solutions. From providing users with the first regulated staging solution to offering 1:1 Bitcoin backed insurance on crypto holdings, WonderFi have always looked to grow and improve.
“This is a very important transaction for WonderFi’s future,” Kevin O’Leary on acquiring Bitbuy”
Charles Wright, Energy Analyst
The WonderFi Product Range
How is it that WonderFi are able to so capably offer crypto trading opportunities to both novice and advanced crypto traders? The answer is simple, they provide users with two different crypto trading platforms in Bitbuy and Coinberry, both of which cater to varying levels of crypto trading experience.
BitBuy
With over 400 thousand registered users, $5B+ in trading volume and more than 1.5k corporate clients, Bitbuy has been growing exponentially since its launch. Bitbuy is Canada’s premier crypto trading platform and is designed to cater to your more advanced trader. Bitbuy offers both corporate solutions and the ability to manage private wealth with their on hand account management services.
The diversity at Bitbuy is where the platform really shines. There are more than 30+ trading pairs and hundreds of different cryptocurrencies to buy and sell on the platform right now. It’s not just the sheer range of cryptos on the site that entices new advanced traders though, it’s the quality of the tools as well. The platform incorporates the Bitbuy Pro Trade tool which serves as your live order book. In addition to this, traders can make use of the Bitbuy API for fast automated trading.
One of the biggest assets to the Bitbuy platform is users’ ability to stake their coins. By allowing Bitbuy to use your holdings to form new blocks in the blockchain. This way, you generate passive income through the interest you earn and Bitbuy is able to further increase the stability of the coin itself. It’s a win-win for all involved.
Coinberry
Coinberry is the other platform option for users who decide to join the WonderFi crypto revolution. It is ideal for beginner crypto traders who are looking to dip their toes into the world of digital currency trading.
Where Bitbuy is for the advanced traders, Coinberry makes the novice traders life much, much easier with their useful learning tools and easy to use UI.
While Coinberry may be the better option for novice crypto traders that does not mean that it is any less effective than its Bitbuy counterpart.
Coinberry provides its users with 35+ trading pairs and a fantastic learning center where Coinberry users can brush up on their crypto trading knowledge.
Your ability to buy and sell cryptocurrencies with Coinberry is exceptionally easy. The process of creating your account takes a few minutes at most and that includes the verification process.
From there, you can browse the cryptocurrencies on the platform where you will find detailed descriptions of each, as well as the pros and cons for each of them as well. Coinberry is actively trying to guide their users with solid data and information to allow them to make informed trading decisions.
Coinberry is the clear and obvious choice for novice and retail traders to use. The learning center is the stand out aspect of the site, as Coinberry are clearly trying to aid new traders as best they can.
“Revenue growth and profitability are WonderFi’s top priority. By including the trading of equities, staking and yield products, access to sports betting and gaming, and other regulated offerings, we will dramatically bolster our average revenue per user,”
Dean Skurka –
Incoming CEO, WonderFi
The Future of WonderFi
WonderFi (OTCQB: WONDF) are not planning on resting on the laurels, as there are numerous features and updates that they have in the works. From gaming and sports betting to stock trading and cross selling. They are even plotting the release of their own centralized crypto wallet.
Stock Trading
There isn’t all that much information on the prospects of stock trading at WonderFi as of yet. What we do know is that it will be offered through their Bitbuy platform and it will be released sometime within the first half of 2023.
WonderFi will be partnering with Alpaca LLC, utilizing their broker API to give Bitbuy users real time fractional trading and instant settlements.
There is no indication as of yet in terms of what kind of stock opportunities will be available on the site. If they are anywhere near as diverse as the cryptocurrency range on Bitbuy and Coinberry, we can expect to see a host of stock trading opportunities on the proposed platform.
Potential release of a sportsbook
The idea is to launch their very own sportsbook that offers casino gaming as well by some time in Q4 2023. They are still currently in the process of establishing partnerships and selecting service providers for their games and software but the wheel is well and truly turning on this prospect.
WonderFi plan to start in Ontario and from there, expand into the rest of the Canadian gaming and sports betting markets. The current market projections for the WonderFi sportsbook by 2026 are currently sitting at an incredible $40M CAD.
It remains to be seen how successful this project may yet be but with the track record that WonderFi have shown with their trading platforms, there is no reason to believe that it won’t be a success.
Cross Trading
WonderFi are planning on ramping up cross selling to existing users on their platforms. This will involve some serious marketing increases and rewards for users in various aspects of the site.
For example, if a users crypto has increased by 10% in the past week, then the user may be offered a deal on using some of their profit to bet with the WonderFi sportsbook.
Another example that WonderFi have touted is that a user may win a bet of, let’s say $250 CAD, at which point they will be given the chance to convert their winnings into Ethereum and then stake the coins for an additional reward.
Exactly how WonderFi will approach their cross selling endeavor remains to be seen but they have treated their client base well so far so we are expecting to see some nifty rewards and opportunities for users to claim.
The B3 Wallet
WonderFi (OTCQB: WONDF) are planning on making their users lives even easier with the introduction of their B3 Wallet. The B3 Wallet is going to be a centralized wallet that will not only be able to access all of the WonderFi products but that will be able to access products from other platforms as well.
Users will be able to transact, buy, trade and bet all from their B3 Wallet with ease. The idea is to make the user experience with WonderFi that much easier. WonderFi users will need to be patient on this front though, as the expected release of the B3 Wallet is for 2024.
New Business Agreement
Most recently, WonderFi has joined forces with Coinsquare and Coinsmart in, what many are hailing, as a highly-strategic move to provide a large-scale crypto trading space for retail, and professional, traders.
In addition, Canadians will have access to advanced crypto payment services as well as sports and online gaming products.
Watch this space as the Combined Company will soon offer a variety of key transaction benefits that should appeal to a wider group of customers withinn the decentralized financial ecosystem.
Will This Stock Become the Next Major Player in the Market?
After thorough review of all materials related to WonderFi (OTCQB: WONDF), and taking into consideration the current market conditions and future plans, we believe WonderFi has the potential to become a major player in the market. Given the current trading price, we believe it presents a favorable opportunity.
It is important to thoroughly research and carefully evaluate any investment opportunity before making a decision. This can include reviewing the company’s financial statements, assessing its competitive landscape, and considering the potential risks and rewards. It is always advisable to consult with a financial professional before making any investment decisions.
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