xCoins Review

xCoins is a P2P crypto lending platform. Instead of buying and selling, customers can borrow and lend BTC here. The company was established in 2016 in California. Today, the xCoins exchange has a bit outdated site and mixed reviews but promising functionality.

xCoins Fees and Limits

xCoins fees come in the form of interest that lenders set. Generally, they vary from 15% to 30%. Thus, borrowers pay this interest plus at least 5% as the origination fee. xCoins limits are strict: the min loan amount is $10, while the max one is $1,000.

Is xCoins Safe?

You should note that the xCoins scam accusations appear regularly. The site was hacked back in 2016 and 2017. As well, the company behind this exchange doesn’t disclose its public info. But the site itself doesn’t participate in P2P deals, so the xCoins fraud may come only from users.

xCoins Exchange – Q&A

To know how to work with the platform, let’s continue our xCoins review 2020 with the most popular questions and answers:

  • How to buy on xCoins? Technically, you can’t buy but can borrow BTC. To do this, register, find a loan offer you like, and send USD to the chosen lender.
  • How to use xCoins? Using your xCoins login, enter the site. There, you can either borrow crypto or lend it to earn interest.
  • Is xCoins legit? Sadly, many xCoins reviews mention that the site is unreliable. Still, most often, participants face problems with other users, not the platform itself.
  • What is an xCoins alternative? Cryptocurrency lending is a popular trend in DeFi. You can find alternatives on Compound and NUO, for instance.
  • Where is xCoins located? According to the official info, the xCoins support team and the main office are located in Santa Monica, California.
  • Which pairs are available? As for now, the exchange offers only one pair – BTC/USD. Other coins and fiat currencies aren’t supported.
PROS
  • Over 60 different assets
  • Fully transparent holdings and storages
  • Its own virtual card coming soon
  • Prices locked in pre-trade, no hidden fees
  • Works in 184 countries
  • Zero-fee system for all operations
CONS
  • Poor Uphold support
  • High exchange Uphold fees in the web app
  • Small fee included in the price, around 0.5-1%
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