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What is Xcoins?
Xcoins.io is a digital lending platform that is characterized by person to person lending. It is important to point out that the platform does not exchange any Bitcoin and does not lead any funds.
In other words, the platform can also be described as a digital wallet that enables one to buy bitcoin or lend out Bitcoins to buyers. In addition, the platform has an affiliate program that can make it possible for you to earn passive income.
The platform facilitates Bitcoin exchanges through secured lending. Xcoins guarantees instant Bitcoin exchanges and allows credit cards when it comes to payments.
It only takes a few minutes to receive Bitcoin when using the XCoins platform. In fact, the platform is better than an exchange. Cryptocurrency exchanges are platforms allow customers to comfortable for customers to trade different digital currencies or conventional fiat money.
Exchanges are perfect intermediaries between sellers and buyers that deal in digital currencies. In fact, such platforms are similar to the traditional stock exchange when it comes to the operational model.
The Xcoins.io platform offers more services as compared to a normal Bitcoin exchange. Apart from offering a secure lending platform, lenders get some assistance when it comes to;
- Unpaid funds collection.
- Credit risk analysis.
- Borrower identity verification.
Many potential users have questions such as; is Xcoins legit? Is Xcoins Safe?
Can I trust Xcoins? This article provides comprehensive Xcoins.io review for interested traders and lenders.
As mentioned earlier, Xcoins is a peer to peer lending platform and this makes it different from a regular trading exchange. The company is located at Menlo Park, CA in the California State. Xcoins began its operations on August 5, 2016. Xcoins supported countries include; Australia, Canada, the United States, and the European Union. Xcoins does not have any limitations when it comes to selling amounts. The Buying payment methods include; PayPal, debit card, and credit card. Selling payment methods include credit card, debit card, and PayPal. The only available cryptocurrency is Bitcoin.
- Traders require some kind of verification and the platform uses a 2-factor authentication model where users are expected to provide their mobile number and email before account activation.
- For X coins, traders are only expected to pay the transactional fees. The loan security deposit is normally paid with the interest fee for the loan. In this case, the interest rates can be decided by lenders leaving a borrower with many options. The borrower has all the involved fees including the;
- PayPal processing fee.
- Xcoins commissions.
- Interest fee.
Also, the only available currencies for trading include Bitcoins and US Dollars.
- Examples of special features associated with this platform include; a straightforward website interface and a referral system.
Is XCoins Safe?
The Xcoins community trust is not as good as most people would expect considering the number of negative reviews it continues to receive in the Bitcoin community. Some of the complaints associated with the platform include; suspension of the PayPal account due to fraudulent activities and some traders being unable to withdraw funds.
Many potential lenders have been dissuaded from using the platform due to frustrations associated with the suspension of the PayPal account. Xcoins has been able to address some of the major challenges associated with withdrawals to restore community trust.
Security- encryption, HTTPS, how they keep themselves safe?
All the transactions that take place on the Xcoins.io platform occur through the digital wallets that are properly encrypted to guarantee the security of all transactions. The company tracks all transactions and manual transactions that are not allowed. For an account to be activated, users have to enter a series of codes for security purposes. In this case, one has to provide their mobile number and email.
The website has an elaborate FAQs section that provides answers to most questions that the traders may have concerning the platform. In the case, there are separate FAQs for lenders and borrowers.
Also, Xcoins has a discussion forum where one can post general questions or opinions on other issues that are not related to transactions. Other users are also in a position to view the posts and contribute to the discussions.
All the forum questions are normally answered by the platform. Finally, Xcoins has an active help desk that provides answers to some of the questions that may not have been answered on the discussion forum or the FAQ sections. The help desk is available for 24 hours and users are advised to include their transaction number for a quick response.
For Xcoins, users do not need to wait for days for their transaction to be complete as the platform allows payments to be made by using debit cards. In this case, users are able to get Bitcoin and it only takes a few minutes to for transactions to be completed. Therefore, Xcoins is considered as one of the most effective platforms when it comes to handling speed.
How to use Xcoins?
Xcoins is a platform where lenders are given money in exchange for Bitcoins.
- Sign up for an account on the Xcoins platform before you can engage in any transaction. Signing up makes it possible for Xcoins login. The signing up process only takes a few minutes.
- Make a payment for your specified amount of Bitcoin using a payment method of your choice.
- The borrower received Bitcoin in their Xcoins wallet. In this case, borrowers can give Bitcoins back and are also allowed to make payments using their favorite payment method.
Xcoins Review Summary
It is important to conduct more research on this platform to determine the positive and negative aspects of the website. Xcoins has a 2-factor verification process, a referral program, 24-hour support for users that might want to make inquiries.
The platform accepts PayPal and Credit Card for transactions. As a result, it takes less time for transactions to be completed as compared to other platforms. It is important for Xcoins to include some charts on the website to demonstrate transparency.
Thank you for checking out this review. Please visit our website for more reviews, articles, and guides about Bitcoin and other cryptocurrencies.