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Full Review

In the old days (you know, 2015 or so), there simply weren’t that many ways to buy Bitcoin. Most of us were limited to sites like Coinbase or LocalBitcoins, each with their own pros and cons. Generally speaking, however, these limited options just weren’t that convenient. LocalBitcoins could cost an arm and a leg, with a service less than user-friendly, and Coinbase coin take ages to give you your coins after you had already spent your money.

Today, things are much more convenient. Not only are Coinbase and LocalBitcoins far from the only Bitcoin sellers on the block, there are now much faster ways to buy Bitcoin. Furthermore, even if you don’t have all the cash you need to buy Bitcoin, there are options (like the exchange/platform we’ll be talking about today) that can help you out in your time of need. We’re talking, of course, about XCoins.io.

What is Xcoins.io?xcoins.io review

Not to be mistaken for Xcoins.com, Xcoins.io is an interesting Bitcoin seller, which provides near instant access to new Bitcoins, as well as the opportunity to borrow and lend for Bitcoins. There are few places on the web we’re aware of that introduce this lending feature. We’ll go into much great detail throughout the rest of this Xcoins.io review.

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Is There an Xcoins.io Scam?

If you search for Xcoins.io on Google, you’ll quickly come across a number of people who talk about a Xcoins.io scam. And while it’s easy to throw around accusations about interesting economic models in the Bitcoin exchange universe, we find Xcoins.io legit claims to be credible. In short, there doesn’t seem to be a reason to think this Xcoins.io scam is real. Xcoins simply does what it says it does.

How Does the Xcoins.io Bitcoin Buying Process Work?

XCoins.io‘s Bitcoin buying process couldn’t be any simpler. For one, all they sell is Bitcoin. No Ethereum, no Dash, no ZCash, no Doge. Bitcoin is still the king of crypto, and XCoins.io knows that it can be best, sometimes, to keep things simple. That’s one thing that makes this exchange so easy to understand, at least from a straightforward buying perspective.

xcoins.io fees

If you want to simply buy Bitcoin with cash, go on over to Xcoins.io and create an account. This will be done the usual way, by adding a unique username and password, and by responding to all of Xcoins.io’s various prompts through email and the platform itself. This process usually takes just a couple of minutes. It’s even faster if you want to use credit card or paypal, rather than by linking your bank account (the Automated Clearing House option).

xcoins.io login

Once your account is launched and confirmed, all you need to do is make a payment. On this screen you’ll see that you have the option of Credit/Debit Card and Paypal. Xcoins.io also allows users to make a bank transfer using the Automated Clearing House (ask Xcoins.io support if you have questions). In most cases, however, Credit Card or Paypal will definitely be the most convenient options, and will get you onto the road to Bitcoin ownership in no time.

Xcoins.io is a wallet, but because it is also an exchange, it’s a good idea not to keep your Bitcoins on the Xcoins.io wallet for any length of time. Download a personal software wallet like the Exodus wallet, which supports a number of digital currencies, not just Bitcoin.

To transfer your Bitcoins to your Exodus wallet from Xcoins.io, just go to Exodus, click “receive” in the Bitcoin wallet portion, copy the address you see there, paste it into the “withdraw” form on your Xcoins.io wallet, and send withdraw your Bitcoins to your Exodus address. As always, make sure to double and triple check your addresses, as Bitcoin can usually not be recovered if sent to the wrong address.

xcoins.io review xcoins.io legit

That’s all it takes to buy Bitcoin on Xcoins.io. But this Xcoins.io review isn’t complete. Xcoins.io also has an interesting functionality whereby they let users lend their Bitcoins to other users (for interest and fees, of course), and for users to borrow Bitcoin, with the intention of paying back their loan and getting to keep their Bitcoin.

If you have learned all you need to know from this Xcoin.io review, feel free to leave the page now. If you are interested in learning how to lend Bitcoin for profit through Xcoins.io, or how to borrow Bitcoin for future ownership, read the second half of the Xcoins.io review, if you please. 

Lending and Borrowing Bitcoin on Xcoins.io

Welcome to the second half of this Xcoins.io review. You’ve already learned how to buy Bitcoin with Paypal or Credit Card through Xcoins.io, but we haven’t really scratched the surface of the interesting lending/borrowing option built into the Xcoins.io system.

Why Does Xcoins.io Allow Lending and Borrowing Anyway?

No matter the action on the site, Xcoins.io makes a little money in Xcoins.io fees. This is true for buying Bitcoin the conventional way, as it is with all exchanges, but Xcoins.io has found another way to make money while adding value to the end user by offering a lending and borrowing platform through the site.

The lending and borrowing that goes on on Xcoin.io is strictly Peer to Peer (P2P). Lenders put up Bitcoins that they wish to lend out with the hope of making a tidy profit, while borrowers who don’t have the money to buy all of the Bitcoin they would like can borrow this offered Bitcoin loan, and pay it back later plus interest and fees.

Borrowing on the Xcoins.io Platform

If you want to buy Bitcoin but don’t have enough money to but as much as you would like Xcoins.io is for you. Borrowing (especially borrowing in order to invest) is always a risky proposition, but because of Bitcoin’s meteoric rise over the past several years, this option has worked out very well for thousands of Xcoins.io borrowers.

First of all, the would-be lender deposits some money to their Xcoins.io wallet. You can’t just borrow Bitcoin through Xcoins.io without putting down some collateral. This is called a “secured loan”. There are examples of secured loans in every type of financial industry sector. In addition, the borrower will commit to pay interest.

The borrower looks through a list of all of the active loan offers in the Xcoins.io platform. When they see one in the amount desired, and at a good rate of interest, they can lock in their collateral and get the Bitcoin on loan. The new borrower can pay back the loan at their convenience or at the rate identified in the loan. If they don’t repay, they lose their collateral.

Lending on the Xcoins.io Platform

If you have spare Bitcoins that you are holding as an investment, and which you have no intention of selling or spending anytime soon, Xcoins.io could be a great way to make some return on your Bitcoin through lending.

Whether or not you bought your Bitcoins through Xcoins.io, you can still deposit your Bitcoins purchased from other sources in the Xcoins.io wallet. Once your Bitcoins are present in your Xcoins.io wallet, you’ll be able to look at the P2P lending/borrowing market built into the Xcoins.io platform.

xcoins.io review

When you choose to lend your Bitcoin, you’ll be able to choose the rate of interest you’ll charge to your original borrower. Remember, if you charge interest at too-high a rate, no one will take your loan because it will be too expensive. However, if you choose too low an interest rate, you won’t make much money and you won’t be hedging your risk that your borrower just won’t pay.

When your loan is accepted by someone in the Xcoins.io P2P lending market, you’ll see that your borrower has some cash collateral set aside, which they won’t have access to until they pay back the loan. Think of it like a damage deposit on the house. If the were to flake on paying the loan back, you’d keep the deposit, plus any interest you had been paid up till that point.

By choosing loans carefully, you’ll be able to make solid double-digit returns on your Bitcoins, in return for the risk you took on in lending out and the inconvenience of having your Bitcoins “locked up” in the system.

Your loan can be considered mature when the user has paid back all of the cost of the loan, plus interest. In this case, your Bitcoins will become their property, and you will have made back the original cost of your Bitcoin loan, plus the rate that you decided.

In times when Bitcoin’s price is stagnant, like we are experiencing in the current January 2018 bear market, this passive return can give the Bitcoin investor some financial incentive for staking coins, rather than letting them sit in a wallet somewhere gaining no value at all.

The Pros and Cons of Xcoins.io

Xcoins.io is a strong platform that offers Bitcoin buyers speed and convenience of purchase, plus a solid lending and borrowing platform. It does, as they say, what it says on the tin. Because we like this project, we’ll start with the cons and then get into the pros, of which there are a greater number.

Cons of Using Xcoins.io

  • Expense. Xcoins.io will charge more than exchanges like Coinbase, because they offer greater convenience. Borrowers who use the service will pay more than the cost of a single Bitcoin order, because of the fees and interest. This, of course, is no surprise to any user and is simply how this kind of lending works.
  • No Xcoins.io app. For mobile users, Xcoins.io can be slightly inconvenient.

Pros of Using Xcoins.io

  • Instant access to Bitcoins. If you buy on Xcoins.io, you’ll have your Bitcoins in minutes.
  • Getting to use fiat dollars to buy Bitcoin. Most exchanges don’t accept US Dollars, making it difficult for new traders to get into cryptocurrency ownership. Xcoins.io solves this problem by accepting common payment methods like credit card and Paypal.
  • Passive profit. Lenders get to stake their Bitcoins and earn interest and fees that they wouldn’t have if there coins were simply sitting in a private wallet.
  • Access. People who can’t afford a large Bitcoin order will be able to get Bitcoin, then pay it back at their leisure.
  • An Effective Futures Market. People borrowing Bitcoin and paying it back when they can are basically buying a futures contract of sorts, one which will be profitable in the situation where future Bitcoin is worth more than it is worth today, hence making the borrowing process worth it. As already stated, Bitcoin’s long term upward trajectory have created many opportunities like this over the past several years.

Final Thoughts on Xcoins.io

Xcoins.io is a very convenient way to buy Bitcoin. But apart from that, it also provides a unique opportunity for Bitcoin owners to lend out their Bitcoin for profit, and for people who can’t afford to buy as much Bitcoin as they would like to borrow Bitcoin and pay it back as they are able.

New users should well understand this model and its demands before putting in their money, but it’s important to understand that Xcoins.io is legit and that their business practices are totally above board. If you’re curious, try it for yourself and see how your results go. We’d love to hear about it!

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