Today, we will be covering another bitcoin platform – known as Xcoins. And by the end of this review – you will fully understand the premise of their site – as we show you the variety of investing opportunities and advantages that they have to offer you, and necessary information that you must know before you invest with Xcoins.
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X really does marks the spot after all….
If you have already decided that bitcoin trading is not for you, but are still interested in the advantages of investing in bitcoin – then Xcoins has the perfect solution for you.
You could officially buy bitcoins easily….with your own credit or debit card.
That’s right, you could put back that pricey product that you would have had charged to your credit card – and put it to good use – by investing it bitcoin and other cryptocurrencies.
At Xcoins, any user can be a borrower or a lender. When a borrower requests a bitcoin loan, the platform matches the borrower with a lender. The process is automatic and seamless. No communication between the borrower and the lender is required. The borrower makes a payment directly to the lender on the lender’s PayPal payment page. After the payment is made, bitcoin is automatically transferred to the borrower’s wallet.
How Does It Work?
It’s just like an exchange, but better!
The process of receiving bitcoin is exactly the same as at an exchange. First, you give money to the lender. Then, he or she gives you bitcoin. But, as an added bonus, should you decide you do not need the bitcoin anymore, or you found a better exchange rate, you can return the bitcoin to the lender and get your deposited amount back!
Secured lending is just like exchanging, only better. It allows you to get bitcoin quickly. Most bitcoin exchanges do not allow payments with credit cards or make you wait several days before receiving bitcoin. In contrast, Xcoins is instant! The entire process takes only a few minutes.
Buying Bitcoin with your credit card is as simple as 1…2…3!
1. Step One: Sign Up – Sign up for an Xcoins account to get started. The process takes only a few minutes.
- Before you even come to Xcoins, some lenders already signed up and deposited bitcoin to their Xcoins wallets. The bitcoin is now available to be borrowed by you.
2. Step Two: Make A Payment – Specify an amount of bitcoin you need and make a payment with your preferred payment method.
- In step 2, you arrive to the site, select an amount of bitcoin you need, and make a payment directly to the lender with a credit card, debit card, or your PayPal balance.
3. Step Three: Receive Bitcoins – Quickly receive bitcoin to your xCoins wallet. Spend your bitcoin on anything you like.
- As soon as Xcoins gets a notification that the payment is made, they take bitcoins from the lender’s wallet and move it to your wallet. The transfer is instant. You can now withdraw your bitcoin and use it in any way you like.
To withdraw your bitcoin, click on “My Wallet” in the main menu and select “Withdraw Bitcoin”.
Xcoins Vs Normal Bitcoin Exchange
Bitcoin transactions are irreversible like cash. In contrast, credit card, debit card, and PayPal payments can all be reversed. To protect themselves from charge backs, exchanges make clients wait for several days to get bitcoin, not allow credit card payments, set low limits on trades, or often, do all of the above.
Secure lending solves this problem by giving bitcoin as a loan. There is no waiting period to get bitcoin, and borrowers can pay for the security deposit and fees with their favorite payment method.
At Xcoins, lenders compete with each other to offer the lowest interest rates to you. The interest fee for a loan is paid as a one-time payment together with the loan security deposit. The interest payment amount does not depend on the loan term. In addition to the interest fee, the borrower also pays the loan origination and payment processing or bank transfer fees.
The interest fee for a loan is paid as a one-time payment together with the loan security deposit. The interest payment amount does not depend on the loan term.
Lenders decide what interest rates to offer to borrowers. When you enter the loan amount and click “Get Bitcoin”, Xcoins fetches the best offers matching the amount you requested. Out of all available offers, the system displays the one with the lowest interest fee.
Because only one offer is displayed for each amount, lenders compete with each other to offer the lowest interest rates to you.
In addition to the interest fee, the borrower also pays the loan origination and payment processing or bank transfer fees.
Xcoins Refund Policy
You may request a refund at any time from the lender (you are paying directly to the lender). The lender will issue a refund for the full amount less the loan interest, loan origination fee, and payment processing fees. To request a refund, please contact the lender directly. You will need to transfer the amount of bitcoin back to his or her bitcoin wallet.
Overall, Xcoins is a great platform for those who want a more simpler approach to investing in bitcoin.
The process of receiving or borrowing bitcoins is efficient – making it a breeze to finally access bitcoins.
And unlike all other bitcoin exchanges, Xcoins allows you to use various methods of payments in addition to direct bank transfers (ACH) – which can take up to a few days to process transactions.
And lastly, you can finally return or refund any bitcoins that you receive via their platform – another unique feature that all bitcoin platforms lack, since all bitcoin transactions are considered to be non-reversible.
Xcoins is definitely worth checking into if you want to give their service a try.
If you are interested and would like to learn more about this platform, click here to sign up.