XT.com Crypto Exchange Review

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Written by

Heath

https://decentralised.news/

1 year ago

What is XT.com?

XT Exchange was originally founded in 2018 and headquartered in Hong Kong before moving its headquarters to Dubai. The platform is registered in Seychelles and has operation centres in Japan, Singapore, South Korea, Spain, and other countries. XT is owned by BZ Limited and XT.com is a strategic partner of ZB.com and the XT Group operates the XT Exchange, XT Capital, XT Labs, and XT Academy. XT is described as the world's first socialised digital asset trading platform. The exchange platform is available on desktop and mobile, both iOS and Android.

The platform is reported to have more than 3 million registered users and around 300,000 monthly active users. XT.COM is a full-service trading platform that supports over 500 digital assets and more than 800 different trading pairs. The exchange enables investors and traders to carry out a range of transactions including currency transactions, credit card purchases, leveraged transactions, OTC transactions, and contract transactions.

Features of XT.com Exchange

XT crypto exchange offers spot trading, p2p trading, OTC trading, margin trading and contract trading. It is a pioneer when it comes to offering interest-free margin trading with low service fees. The exchange also offers tokenized assets with leverage as high as 1:30 depending on the asset. Users can utilise different trading strategies such as scalping on the platform and the exchange provides good charts and trading tools including stop loss and take profit functions. XT provides multi-language community groups and 24/7 support.

XT.com offers a proprietary platform token called XT token based on the ERC20 standard of the Ethereum blockchain. Users of XT can trade digital assets such as Bitcoin (BTC), Tether (USDT), Cardano (ADA), Chainlink (LINK), Compound Finance (COMP), Balancer (BAL), and many others.

Trading on XT.com Exchange

Derivatives Markets on XT.com Exchange

XT offers derivatives trading including USDT settled perpetual contracts. They offer a demo futures market where users can participate in simulated futures trading. Coin-M futures are perpetual contracts that are paid with crypto and also offered by XT. Quanto futures are perpetual contracts settled based on BTC and ETH price indexes.

Payment Methods on XT.com Exchange

XT offers a variety of different payment methods including Visa Card, Mastercard, Apple Pay, Google Pay. XT.com has fiat gateway partners including Banxa, Mercuryo, Advcash and Simplex an EU licensed financial institution.

Fixed & Flexible Savings Products on XT.com Exchange

XT platform aims to offer high-quality staking projects to users. Projects will typically issue a coin with a fixed quota in return. Users are then able to access the proceeds of the project party through the pledged asset. XT releases sale events periodically. Users have the ability to deposit assets by participating in the events and earning related rewards. The rewards generated at the same time of interest calculation will be distributed on T+1 basis. A user will receive the savings assets as soon as the event expires.

XT Flexible Savings makes it possible for users to earn interest from the liquid assets deposited. With this program users can subscribe & redeem at any time and automatic transfers are enabled. Once a user subscribes, they will receive Flexible Savings assets, and its interest calculation starts on the second day.

Fixed Savings typically provides higher returns when compared to Flexible Savings. Additionally, they cannot be withdrawn during the locked period. Users are able to deposit assets and gain earnings regularly providing them with added benefits for holding different digital assets.

Users can invest over 50 kinds of crypto assets. The time to distribute earnings varies from product to product. The total interest daily will be distributed within 24 hours. If the earnings are not distributed in time, a user has the option to contact XT online support. Users can also transfer their earnings to another account.

XT.com also has other passive income generating offerings including cloud mining.

XTStarter - Launchpad on XT.com Exchange

XTStarter is described as a social driven launchpad and it is the token launch platform of XT.COM. It was introduced to help blockchain powered projects raise funds and increase their reach. Users of XT have the opportunity to participate in the token offerings through the platform. XTStarter is also a full advisory service for projects. The focus for XTStarter is fundraising services, discount subscription services, airdrops, etc.

XT.com Exchange’s NFT Marketplace

XT also has its own NFT marketplace hosting some popular collections that users can exchange or trade.

Source: https://www.xt.com/nft/marketplace

Fees on XT.com Exchange

Deposit fees on XT.com are determined by the chosen payment method and gateway. For instance, Mercuryo charges 3.8%; Banxa charges 1.96% for VISA/MasterCard and Apple Pay; Advcash and Simplex charges vary for VISA/Mastercards. What’s good is that crypto deposits are free.

The trading fees on XT.com starts at 0.05% for makers and 0.2% for takers. Users can lower the fee if they have greater trading volumes or hold the native exchange token of the XT Exchange platform i.e. XT Token.

XT works with a third-party merchant Banxa to enable users to withdraw their fiat currencies from the exchange by selling their BTC in exchange for fiat currency. Banxa charges 0.0006 BTC for each withdrawal. They pay out only in AUD, GBP or EUR.

Crypto withdrawal fees are not fixed since these depend on minimums and the different blockchain networks used for the transactions.

XT Smart Chain

XT Smart Chain (XSC) is described as a smart contract compatible, decentralised, energy-efficient public chain. XT token is the ecosystem token which adopts the HPoS consensus mechanism and offers benefits and features that include low transaction costs and latency plus high transaction concurrency.

XSC supports EVM programmability and smart contract compatibility to reduce development or migration costs. It also supports meta transactions, fee reduction, and cross-chain asset transfers. Users can simply install a web3 wallet such as MetaMask, purchase XSC tokens and you’ll be able to view projects on the XT Smart Chain.

XT Labs

XT Labs is a venture capital firm that is focused on providing resources to companies building in the blockchain, digital assets and cryptocurrency space. They offer trading, branding, marketing, and other activities. They work across most niches in the crypto space.

Conclusion

XT.com offers basic and advanced crypto offerings through its platform. The exchange has good daily trading volumes and a wide reaching user base. It is a growing exchange competing with other exchanges such as Gate.io, Hoo, MEXC, Whitebit, Mandala, BKEX, AAX, BitYard, among others.