XCoins reviewToday, you can own Bitcoin thru an innovative peer-to-peer lending portal, called XCoins. This digital wallet serves as a link point between a lender and a borrow due to a chain of secure and safe loans. Besides, they say you can also get some passive gains with the help of their affiliate program. Sounds even too positive…Is it really so?

Let us get this thing straightened out. The company was established in August 2016 in Canada. The idea provider and the father of the project is Sergey Nikitin. This man has an experience of 20 years in Information Technology and actually was recruited by Microsoft after the graduation. Later, he started his own outsourcing trade.

Now, the main target of the innovator is to make the platform one and only stop shop for buying the cryptocurrency. And that is no wonder, cause XCoins makes it possible to purchase BTC faster and easier than in any exchange house.

Instead of trading the e-currency for money, you get the digital coins as a loan from the lender. The equivalent sum is to be paid as a pawn, after which the debtee obtains this very collateral along with a fee of yours, which amount was settled by the lender in advance.

Advantages & Disadvantages

Actually, the point is not in the price of BTC, the difficulty or the simplicity of the pursues, etc. The main thing is to examine the service, using which you will make this very splurge. Before you make up your mind and are on the edge of buying the e-money via XCoins, you should weight all pros and contras. And we will help you with that!

Advantages Disadvantages
  • Easy and fast verification (2 stages of authentication: email and phone)
  • Customer service of high quality
  • Instant acquisition of Bitcoin
  • Credit cards and PayPal accepted
  • 24 hours resolution via their technical support
  • Dented confidence is security (the service was hacked in 2017)
  • A good few of negative feedback about their productivity
  • The website doesn’t represent the idea of the service to the full extent
  • A low amount of the maximum loan sum

XCoins Exchange Feature

The interface of the site is pretty good to look at, though, it might provide more extensive features. All you see is the pages with getting BTC, how it works, investors, FAQ, and support. Well, to our mind, this is not enough for a peer-to-peer lending platform, which wants to gain more users and increase the trust-rate.

Nevertheless, starting using the service takes several minutes. First, you are to sign up and create your personal account. Pass the authentication process and enter the profile to ‘Get Bitcoin’. Before you join the portal, the lender is already there having deposited BTC to the wallet.

Now, you are to pick the sum you want to borrow and enter it in the special field. Make a direct payment to the loan holder using your CC, debit card or PayPal. Right when there is a notification about the successful transaction, the BTC is taken from the wallet of the lander and is credited to yours. After the instant transfer, you can withdraw the e-currency and use it as you want.

2FA on XCoins

Depositing and Withdrawal Methods

Another point to mind when joining XCoins is whether the list of allowed banking methods matches your liking or not. The portal lets you use all the payments accepted by PayPal. These are such mechanisms as some credit and debit cards (Visa, MasterCard, Discover and American Express).

Along with them, you can buy BTC from your bank account via ACH (Automated Clearing House). PayPal itself, Binance and eCheck – these are more alternative options to be utilized. Yet, before you select the one, examine also such points as limits and duties.

Payment Limits and Fees

Going back to the table with pros and cons, we have already mentioned that the max deposit amount is rather low. The min loan you can make is $20, while the max is no more than $1,000 only. It means, that you are not able to own 1 BTC with the current rate.

The website offers one Bitcoin for 10,086.85. All you can do is to transfer the thousand and receive back 0.1 BTC. This is what you can get as a result of one transaction. This is rather inconvenient for those, who want to obtain a higher amount of e-money.

Speaking about the fees, everything is free for lenders. Instead, the borrowers have to pay some taxes. When using PayPal – it is 2.9% + $0.30 atop. The front-end fee for the loan is 5% or more. BTC miner this time obtains 0.00025 BTC for the transfer.

Get Bitcoin on XCoins

Clients Support & Security

The question about the security of XCoins is a bit shaky. On the one hand, there are 2 ways of authentication. First, you are to add a code sent to your email address. The next stage is providing a pattern, which came to your phone number. Only then you can complete the registration and have your personal account.

Still, the service was hacked several months ago, and this is what makes the users be very careful. Cause what happened once can happen again. So, is the platform really so safe? Yet, the lost BTC was returned that time.

In order to satisfy the interest of the visitors, the portal offers its customer support in various forms. You can check FAQs for borrowers and lenders separately. Besides, there is a discussion forum including real users. What is more, you can turn to the Help Desk and get a relevant aid.

XCoins Referral Program

Remember about the passive profits? Yes, time to understand the system. Sign up for the referral program and share the link in social media or among your friends. That is when you will get a percentage of each transaction made by your referred associate. This is not a one-off, but a permanent benefit, which you get when others do their daily purchases.