What is XT.com?
XT.com is an exchange registered in Seychelles. It has been active since 2018. This exchange is the first social-infused trading platform that supports 11 languages (the latest being Thai and Vietnamese). On the date of last updating this review (26 September 2022), it claims to have 6 million registered users, over half a million monthly active users with more than 40 million ecosystem users.
XT.com Video Review
Tired of reading? No problem, check out our video review of XT.com here:
XT.com highlights three things as the reasons for picking XT.com’s trading platform as the platform to trade at. First off, they have a high performance matching engine. This means that you can be sure that any trades you want to do are executed promptly and without delay. Second, they have a number of strong security measures. These measures include offline signatures, layered architecfture, hot and cold wallet separation etc. Third and finally, they offer OTC-trading. In OTC-trading, you can execute larger trades with quick settlement. Trades that you for pricing reasons (also known as “slippage”) don’t want to execute on on the open market.
We have not been able to find any information that US-investors are prohibited from trading at this trading platform. However, if you are a US-investor, you should still always analyse whether your home state imposes any obstacles for your foreign crypto trading. Sometimes the exchange has opened its doors in spite of your own state prohibiting you from trading.
XT.com Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at XT.com:
XT.com Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.
XT.com charges takers a trading fee of 0.20%. Makers, on the other hand, trade with a substantial trading fee discount and only have to pay 0.05% per executed order. These fees are in line with industry average, even somewhat below.
XT.com Withdrawal fees
XT.com charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is slightly above the industry average, as the industry average according to the only empirical study performed on the subject that we know of, this one, is 0.00053 BTC per BTC-withdrawal.
XT.com offers both wire transfer and - as of 19 December 2020 - also credit and debit card deposits (through a cooperation with Banxa, a well-known financial institution). At present, XT.com has opened 13 fiat currency channels to support global users to buy digital assets. Users can buy 6 mainstream digital currencies including BTC, ETH, LINK, LTC, XRP and USDT on the page of Credit/ Debit Card.