Xcoins is a cryptocurrency exchange platform established in 2016, operated by CF Technologies Ltd. in Malta. Its primary goal is to simplify the process of buying and selling digital assets, making it accessible even for those new to the crypto world. The platform is designed with user-friendliness in mind, offering a streamlined experience from registration to transaction completion.
Key Features of Xcoins
Xcoins distinguishes itself with several notable features that cater to both beginners and experienced traders. It holds a Class 3 Virtual Financial Asset (VFA) License from the Malta Financial Services Authority (MFSA), underscoring its commitment to regulatory compliance and security.
- Diverse Cryptocurrency Options: The platform supports trading for six major cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), and Dogecoin (DOGE)—paired with six fiat currencies: GBP, USD, EUR, TRY, CAD, and AUD.
- Transparent Fee Structure: Xcoins maintains clarity in its pricing, displaying both Processing and Network fees during checkout. Users can choose between normal and fast transaction speeds, with the latter incurring a higher Network fee. New users benefit from a 0% processing fee on their first purchase.
- Swift Delivery: Crypto assets are delivered instantly, typically within 15 minutes of payment approval. If delayed, the next transaction is fee-free.
- Minimal Verification: During promotional periods, users can purchase up to $150 worth of crypto without verification. For larger transactions, a straightforward Know Your Customer (KYC) process is required.
- 24/7 Customer Support: The platform offers round-the-clock assistance through live chat, email, and phone channels.
- Xcoins Payments: Merchants can accept payments in over 10 cryptocurrencies, receiving settlements in major digital assets or fiat currencies like USD, EUR, and GBP within seconds.
- Referral Program: Users can earn $10 and a 20% revenue share from referred users who exceed $200 in purchases.
These features collectively make Xcoins a robust and accessible platform for crypto enthusiasts.
Pros and Cons
| Pros | Cons |
|---|---|
| No verification for small purchases | Limited cryptocurrency and fiat options |
| Beginner-friendly interface | Restricted payment methods |
| Non-custodial platform | No dedicated mobile app |
| Competitive exchange rates | Browser-only experience |
| Fast transaction processing | |
| Responsive customer support |
How to Trade Crypto on Xcoins
Trading on Xcoins is designed to be fast and intuitive. The platform is available in 167 countries, and the process involves a few simple steps:
- Sign Up: Create an account using your email and basic details.
- Check Prices: View real-time prices for supported cryptocurrencies.
- Select Amount: Choose the quantity you wish to purchase or sell.
- Choose Payment Method: Opt for credit/debit cards or bank transfers (SEPA or Faster Payments).
- Complete Transaction: After payment, crypto assets are delivered to your wallet within 15 minutes.
For beginners, it’s essential to set up a cryptocurrency wallet beforehand. Xcoins transfers assets directly to your wallet, so understanding how to access and manage it is crucial. If you're unsure, consider using a reliable wallet setup guide to get started.
Selling crypto follows a similar process: select the ‘Sell’ tab, choose Bitcoin, specify the amount, and receive fiat currency within minutes.
Verification Process and Tech Support
Xcoins features a minimalist interface that prioritizes ease of use. The verification process is tiered:
- Level 1 & 2: Require only email and phone verification, completed within seconds.
- Level 3 & Above: Involve submitting ID documents and a selfie with identification. While Apple users benefit from iCloud sync, Android and Windows users may need to use mobile browsers for smoother uploads.
During testing, document submission faced minor hiccups, but customer support efficiently resolved the issue. The support team, accessible via live chat, provided prompt assistance, ensuring verification was completed swiftly.
Transaction Limits
Xcoins imposes transaction limits based on verification levels, though these are not prominently displayed on the website. Users can view their limits under their profile settings. The tiered structure is as follows:
| Verification Level | Order Limit | Max Orders/Day | Daily Limit | Max Orders/Month | Monthly Limit |
|---|---|---|---|---|---|
| Level 1 | $10,000 | 3 | $10,000 | 20 | $25,000 |
| Level 2 | $20,000 | 6 | $50,000 | 50 | $50,000 |
| Level 3 | $20,000 | 10 | $50,000 | 100 | $100,000 |
| Level 4 | $20,000 | 50 | $50,000 | 400 | $200,000 |
| Level 5 | $3,000 | 3 | $3,000 | 15 | $15,000 |
Higher verification levels unlock greater transaction flexibility, making them ideal for frequent traders.
Our Verdict
Xcoins is an excellent choice for users seeking a quick and secure way to buy or sell cryptocurrencies. Its competitive exchange rates, low fees, and user-friendly design make it stand out. However, the platform could improve by expanding its cryptocurrency offerings and developing a mobile app. While suitable for most users, beginners should note that setting up a wallet is a prerequisite. Overall, Xcoins delivers a reliable trading experience with room for future enhancements.
Frequently Asked Questions
What cryptocurrencies can I trade on Xcoins?
Xcoins supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, and Dogecoin. These can be traded against currencies like USD, EUR, and GBP.
How long does verification take?
Lower-level verification (email and phone) is instant. Higher levels requiring document submission may take longer but are typically processed within hours with support assistance.
Are there fees for transactions?
Yes, Xcoins charges Processing and Network fees. The former is waived for first-time users, while the latter varies based on transaction speed.
Can I use Xcoins without a wallet?
No, you need a cryptocurrency wallet to receive assets. Xcoins does not provide custodial services, ensuring you retain full control of your funds.
What payment methods are accepted?
Credit cards, debit cards, and bank transfers (SEPA/Faster Payments) are supported. Note that options may vary by region.
Is Xcoins available worldwide?
The platform operates in 167 countries, though service availability may depend on local regulations and supported payment methods.