Xtheta Global Review
Xtheta Global is a cryptocurrency exchange registered in Singapore. It has been up and running since 2020.
Xtheta Global has a large number of different trading pairs. Many of the more exotic altcoins are supported here as well. There are of course "two sides of the same coin" here. On a positive note, a large number of supported cryptos means that even the most exotic altcoin trader can stay at this platform and will not have to look elsewhere to cater for all his/her specific trading needs. On the flip side, however, this might also mean that there could be scam coins available for trading here, unbeknown to the platform. Exchanges with a smaller number of supported cryptos generally only support the bigger crypto projects, which have all been subject to numerous due diligence processes and that are – in most cases – properly vetted. A more recently launched altcoin has not been subject to the same scrutiny.
The following picture shows all of the cryptos that were possible to trade at Xtheta Global on the date of first writing this review (10 February 2021):
Xtheta Global Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. Unfortunately for them, Xtheta Global is not yet available in mobile format. However, according to information on the platform's website, an application for Android and iPhone is "coming soon".
Xtheta Global has an affiliate program with 6 different levels. Through this program, you earn between 20% to 45% in commissions on the trading fees generated from the contracts and spot trading of your referrals and your referrals' referrals. If you have invited 1-9 users, you will be a level 1 referrer, meaning that you only receive 20%. In order to receive 45%, you will need to have referred more than 250 people. The various levels are set out in the below table:
Xtheta Global allows you to trade contracts. As with most exchange that allow for contracts trading, you can also trade with leverage here. This means that you can receive a higher exposure towards a certain crypto’s price increase or decrease, without actually holding the necessary amount of assets. You do this by “leveraging” your trade. In simple terms, this means that you borrow from the exchange to bet more. We have not been able to ascertain what the maximum level of leverage is at this platform, but we will update the review as soon as we do.
For instance, let’s say that you have 100 USD in your trading account and you bet this amount on BTC going long (i.e., going up in value). If BTC then increases in value with 10%, you would have earned 10 USD. If you had used 100x leverage, your initial 100 USD position becomes a 10,000 USD position so you instead earn an extra 1,000 USD (990 USD more than if you had not leveraged your deal). However, the more leverage you use, the smaller the distance to your liquidation price becomes. This means that if the price of BTC moves in the opposite direction (goes down for this example), then it only needs to go down a very small percentage for you to lose the entire 100 USD you started with. Again, the more leverage you use, the smaller the opposite price movement needs to be for you to lose your investment. So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
Xtheta Global Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Xtheta Global:
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
According to information from the exchange, US-investors are not permitted to trade here. Japanese investors are also prohibited from trading here. If you're from the US or Japan and want to find an exchange where you can trade, just use our Exchange Filters and we'll help you.
Xtheta Global Fees
Xtheta Global Trading fees
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. Normally, exchanges distinguishes between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.
At Xtheta Global, the standard trading fees are 0.15% for takers and the same (i.e., no discount) for makers. 0.15% is in line with, or even slightly below, the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. According to the latest empirical study on the subject, the industry average taker fees were 0.217% and the industry average maker fees were 0.164% (for spot trading). Consequently, Xtheta Global's fees are well below both of these industry averages.
For contracts trading (perpetuals), Xtheta Global's fees are comparatively a bith higher: 0.075% for takers (average is 0.064%) and 0.02% for makers (average is 0.014%).
Xtheta Global Withdrawal fees
We have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. As soon as we receive information on the withdrawal fees at Xtheta Global, we will update this review and post them here.
In addition to depositing cryptocurrency to the platform, Xtheta Global also lets you deposit fiat currency. However, only through wire transfer (not credit or debit card).
Seeing as fiat currency deposits are possible at this trading platform, this platform qualifies as an “entry-level exchange”, making it an exchange where new crypto investors can start their journey into the exciting crypto world.