Xcoins Review: Is It Safe to Purchase Your Crypto Through Xcoins.com?

While the crypto industry has been quite popular for around a decade, we only recently got clear rules and regulations. Some exchanges, like Xcoins, decided to follow the rules, while others, like VoltCoins, decided against it.

If you’re considering purchasing crypto and wondering which exchange to choose, this Xcoins review might help you. We’re outlining all the relevant details here.

Is Xcoins a Legit Crypto Service Provider?

Xcoins is owned and operated by CF Technologies Ltd. The company has been in the virtual currency business since 2016, while it obtained a regulation in 2021. The firm is registered as VFA Service Provider with the official authority of Malta, MFSA. This gives them the authority to run legally in the entire EEA zone.

However, on Xcoin’s website, you can find information that they also offer services in the US, Canada, and Australia. Yet, their US-registered domain, xcoins.io, is currently out of service. On top, each of these countries has its own rules regarding crypto exchanges, and we found no proof that Xcoins complies.

All in all, you should be careful when dealing with this crypto service provider.

Where Does the Exchange Operate?

As mentioned, the exchange is operating in most of the world. According to traffic analysis, the majority of their clients come from:

• US,
• Nigeria,
• Germany,
• India,
• UK.

The first domain, xcoins.io, was registered in 2016, while the second one, xcoins.com, has been in business since 2019. However, the company only obtained a license in 2021, five years after it started soliciting investors.

User Feedback and Experience

Of course, this review wouldn’t be complete if we didn’t check what investors have to say. At the time of writing, there were only 8 Trustpilot comments, 75% of them being 1-star. From what we can tell, the exchange is closing customers’ accounts without a valid explanation.

At reviews.io, the situation is somewhat better, with the exchange being rated well. However, this site is directly connected to the exchange’s website, meaning there might have been some interference from the company side. Since the company has US business, we checked BBB and found several customer complaints.

Sitejabber.com has 12 Xcoins reviews, with the platform rating negative. Finally, users on Quora also stated that they had withdrawal issues, which is a significant drawback to consider.

Xcoins Trading Features

Xcoins is not your typical exchange that offers the possibility to trade. You can buy and sell crypto through the platform, and that’s about it. There’s no leverage and the only fee is a purchase charge of 4-6% of the purchase amount.

The company offers you to buy various digital coins, including:

• BTC,
• XRP,
• ETH, etc.

Note that a purchase limit depends on your account verification level. The higher the amount, the more documents you will have to submit. There’s no account verification up to a $150 purchase.

Xcoins Mobile App

The website can be accessed through a web browser on any desktop or mobile device. In addition, you can install Xcoins mobile app on your Android or iOS device and enjoy a convenient login. You can enable 2FA, meaning that every time you wish to make a transfer from your mobile app, you’ll have to verify it using the 6-digit code.

Affiliate Program – What Can I Get?

The minimum deposit with Xcoins is $50. However, you have a chance to increase this amount if you join the affiliate program. Essentially, you need to promote the exchange and earn $10 for every customer that registers through your affiliate link.

Furthermore, you can get a 20% lifetime revenue share per user. The affiliate program is available in all countries where the exchange offers services.

Xcoins Withdrawal – How Can I Get My Money Back?

Here’s a list of available payment options:

• Debit/credit card,
• Bank transfer,
• Apple Pay,
• Google Pay,
• Faster Payments – works only in the UK.

Note that every withdrawal has exchange rate fees, and you may incur additional charges from the payment provider. However, the reviews indicate that getting money back from Xcoins might be a hassle. In this case, you can contact our CipherTrace experts for help.

Key Information About Xcoins to Consider

Xcoins is a Maltese-based, regulated virtual services provider. However, the company operates outside of the EU without displaying appropriate licenses. This may lead to potential problems.

Let us know if you experience any trouble with Xcoins or your crypto wallet. Our CipherTrace analysts may help you track and trace your coins and prepare a detailed report for the authorities. Book a free, non-obligatory consultation today!