How does the 100% deposit bonus work on bitcoin exchange WhaleClubCo?

[bitcoinmarkets]

There's a hot new bitcoin exchange out with zero trading fees (but 0.2% daily interest fee on any leverage trading borrowed funds). The promotion they are running right now is they will give you a 100% Deposit match. Use this link to get the bonus. It should show you a yellow bar saying that you are eligible for the bonus as in above.
Now all you need to do is sign up and you will be able to get a bonus on your 1st deposit amount. So if you deposit 1 BTC you will be able to get 1 BTC matched.

​But how does it work exactly? I deposited and tried it out so you could see my experience:



So I deposited 0.4 BTC to start, which credited as 0.3999 (but there is not supposed to be deposit fees). And the bonus is not available right away, but it shows that it is there. So basically you can't trade or withdraw the bonus, but it will release as you are trading on the platform. As it releases, you can use the money to withdraw or trade or do whatever you want. So it slowly credits as you have more trading volume. This is what they do for a fraud reduction measure. Here's the bonus terms:



If you are used to certain casino and poker promotiosn which offer a deposit match, perhaps you are accustomed to being able to gamble with the bonus right away. Not with WhaleClubCo though. You can't touch any of the bonus until you start trading with what you deposited. This may make the bonus less attractive to you, but it is important you fully understand how this deposit match works at WhaleClub.

Any questions? Leave a comment below or ask on Twitter @bitcoin_markets.

[Laosai]

I never used them and was always a bit afraid.

They don't communicate much. They don't talk on the forum and it's hard to know if they're legit...

I never had the opportunity to meet someone who had used their services!
If you have a feedback after that don't hesitate to communicate it ^^

[croato]

I will pass on this. It looks too good to be true and most possibly is. I dont see how they could possibly double your investment if they dont plan to run with coins at some point. It looks like ponzi to me.

[unholycactus]

What are the fees for trading? Getting 1$ back for every 250$ looks exactly like how much they would charge you as a trade fee.
If the trading fee was the same, you would net 0.

[coinzat]

It is my first time to see a thread talking about this site. Is it a new one ?
The bonus is good catch to trigger new users but it sound very difficult to obtain it for real  because of its conditions

[gentlemand]

Well, it's a slick site and more reassuring than some with links to whois information et al. It's still in a country far, far away and I've never heard of it. Sticking a bonus like that on top means I'll let others get their feet wet rather than me.

[Raimonn]

I didn't know that Whaleclub was an exchange, i thought that it was like a forum for traders a website to discuss on group to pump or dump some altcoins, and to predict if bitcoin will go up or will go down.
I have seen progressive bonus on some gambling casinos.

[odolvlobo]

Let me be the first to state it plainly:

WhaleClubCo.com is probably a scam. Please don't give them your money.