What Is WOO Network?

About WOO Network (WOO)

WOO is a utility token of the WOO Network. The network was created to connect traders, crypto institutions, DeFi platforms and to provide the best liquidity and low-cost trading.

The WOO token has several use-cases:

1. Governance
   
   Token holders can participate in voting for governance decisions.
2. Staking
   
   WOO staking unlocks a lot of options, such as reduced trading fees, daily fee withdrawals, increased referral rebates, and others. Trading institutions can also participate in staking and get lower fees in return.
3. Yield
   
   WOO owners can stake their tokens to earn yield from swapping and paying fees.
4. Borrowing and lending
   
   In some cases WOO tokens can be used as collateral.

The use cases listed above are not final. The utility of the WOO token is planned to be expanded. It will have more trading opportunities and more discounts available for stakers. The value of the WOO token is maintained by burning. The whole burning schedule can be found on the official website.

Where did WOO Network come from?

The WOO network started in 2018. It grew from Kronos Research, a trading firm. Kronos Research co-founders managed to turn a small two person company into a global trading one. Their Kronos experience helped them to bring lots of instruments to the platform. By 2022 the company had 12 offices all around the world. Its partners include Binance, Gate.io, and many others.

What are the advantages of WOO Network (WOO)?

1. Low trading fees
2. An opportunity to lower fees to 0%
3. Various financial instruments
4. Availability of DeFi and CeFi platforms
5. Different staking options
6. Interesting referral program

What are the disadvantages of WOO Network (WOO)?

1. No opportunity for fiat withdrawal
   
   Since the WOO network is a trading company, it is crucial for customers to be able to withdraw their funds in a fast and convenient way. Some clients of this platform draw attention to the fact that it is impossible to withdraw fiat currency.
2. Inconvenient support
   
   Some people claim that there is no way to contact a support team in real time. It may be inconvenient if the problem is urgent.

How to buy WOO?

We are happy to help you to become a part of the WOO Network community. To purchase the WOO token please follow the instructions below:

1. Let's say you would like to exchange BTC for WOO. Choose the currency you want to exchange (BTC) in the first drop-down list. Enter the amount you would like to swap.
2. Select WOO in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address. WOO will be sent to this address. Be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

You are always welcome to exchange crypto and fiat currencies on SimpleSwap!

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.