XT.com is a cryptocurrency exchange registered in Seychelles, active since 2018. As the first social-infused trading platform, it supports 11 languages, including the most recent additions of Thai and Vietnamese. As of the latest update on 26 September 2022, XT.com boasts an impressive user base with 6 million registered users, over half a million monthly active users, and more than 40 million ecosystem users.
Key Features of XT.com
1. High-Performance Matching Engine
XT.com highlights its high-performance matching engine as a critical advantage. This engine ensures that trades are executed promptly and without delay, providing a seamless trading experience for users. The efficiency of this matching engine is essential for traders who require quick and reliable trade executions.
2. Robust Security Measures
Security is paramount in the cryptocurrency world, and XT.com excels in this area. The platform employs multiple layers of security, including:
- Offline signatures
- Layered architecture
- Hot and cold wallet separation
These measures collectively enhance the security of users’ assets, providing peace of mind to traders who prioritize safety.
3. OTC Trading
XT.com offers Over-The-Counter (OTC) trading, allowing users to execute larger trades with quick settlement. OTC trading is beneficial for those looking to avoid slippage, which can occur when executing large orders on the open market.
Advantages of XT.com
Accessibility for US Investors
XT.com does not explicitly prohibit US investors from trading on its platform. However, it is advisable for US investors to verify whether their home state imposes any restrictions on foreign crypto trading. Despite the general accessibility, state-specific regulations may impact trading capabilities.
User-Friendly Trading View
The trading view is a critical aspect of any exchange, and XT.com provides a customizable and user-friendly interface. The trading view typically includes:
- Order book or part of it
- Price chart of the chosen cryptocurrency
- Order history
- Buy and sell boxes
Before committing to an exchange, it’s recommended to explore the trading view to ensure it aligns with your preferences.
Competitive Trading Fees
Trading fees are a significant consideration for traders. XT.com charges takers a fee of 0.20% and makers a reduced fee of 0.05% per executed order. These fees are competitive and even below the industry average, making XT.com an attractive option for cost-conscious traders.
Withdrawal Fees
XT.com’s withdrawal fee for BTC is 0.001 BTC, which is slightly above the industry average of 0.00053 BTC per BTC-withdrawal. Despite this, the overall fee structure remains competitive within the industry.
Deposit Methods
XT.com offers multiple deposit methods, including wire transfer and, since 19 December 2020, credit and debit card deposits through a partnership with Banxa, a reputable financial institution. Currently, XT.com supports 13 fiat currency channels, enabling users to buy digital assets using mainstream currencies such as BTC, ETH, LINK, LTC, XRP, and USDT.
Security Features
Offline Signatures and Layered Architecture
The platform’s security infrastructure includes offline signatures and a layered architecture, significantly enhancing the protection of users’ assets. These features are crucial for mitigating risks associated with online trading.
Hot and Cold Wallet Separation
By separating hot and cold wallets, XT.com minimizes the risk of asset theft. Hot wallets are used for daily transactions, while cold wallets store the majority of assets offline, providing an additional layer of security.
OTC Trading Benefits
Large Trade Execution
OTC trading on XT.com allows for the execution of large trades with minimal market impact. This feature is particularly useful for institutional investors or high-net-worth individuals looking to trade substantial amounts without causing price slippage.
Quick Settlement
The quick settlement process associated with OTC trading ensures that large trades are completed efficiently, providing liquidity and stability in the market.
User Experience
Language Support
Supporting 11 languages, XT.com caters to a diverse global user base. The latest additions of Thai and Vietnamese demonstrate the platform’s commitment to inclusivity and accessibility.
Customer Support
XT.com offers robust customer support, ensuring that users can resolve issues promptly and efficiently. This support is crucial for maintaining a positive trading experience and user satisfaction.
Conclusion
XT.com stands out as a comprehensive and secure trading platform with a strong emphasis on performance, security, and user experience. Its competitive fees, extensive language support, and advanced security measures make it a top choice for traders worldwide. Whether you’re a seasoned investor or new to cryptocurrency trading, XT.com provides the tools and features necessary for a successful trading experience.
