With the bullish momentum of the Bitcoin, many prospective individuals have started showing interest in using cryptocurrencies. The benefits such as effective and efficient transaction methods, make it a more reliable option over the existing traditional methods of transactions.
Inline with this, many individuals wary about digital assets due to recent hack attempts and Ponzi schemes. For eliminating the chances of fraud attempts, the majority of the crypto exchanges have started digging deeper into security space so that users can be safeguarded.
Xcoins, one of the unicorn crypto exchanges, has incorporated several safety measures so that users can safely purchase Bitcoin, utilizing Visa or MasterCard. Analyzing the rising demand of the crypto around the globe, Xcoins was initiated with the idea of providing user-friendly services to all the users. This has been the core idea since its inception in the year 2016 when it was founded by Rob Frye, Steve Williams, and Brian Prince.
This fact was evident from the exchange’s wider user base, present across 167 nations. Moreover, the exchange had been used by the crypto hobbyists and enthusiasts for trading cryptocurrencies worth over $250 million.
The exchange offered services for major cryptos such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and Bitcoin Cash (BCH). It is an important point for the prospective individuals who want to start their crypto journey- it takes a few moments for completing the transactions.
Xcoin’s roadmap includes several user-centric services so that even average Joe can carry out the task of transferring digital assets.
Advantages of using Xcoins:
- Data security – Data is entirely encrypted, adding a layer to the data reduces the vulnerability to a great extent.
- Faster transactions – Currency is released as soon as it is approved.
- Preference of payment methods – Users are empowered to pay using all the major credit as well as debit cards.
We recently had an interview with Rob Frye, CEO of Xcoins, where we questioned him all different aspects such as customer support, KYC and AML policy and third-party services.
1. What makes Xcoins better than other market competitors which facilitate similar services in the current crypto market?
There are quite a few options in the space currently, but aside from being able to fully verify most customers in less than a minute and the simple fact that most providers will delay the delivery of order for hours or even days, I would say that our personalized support is what makes most users choose Xcoins. We have a great team that is available 24/7/365 to personally answer your questions or help you with any issues. You look around at the industry and typically see a very low level of customer satisfaction – This is one of the ways we have been able to stand apart and grow our business while others have struggled.
2. One of the key advantages of Xcoins is its fast delivery of token to the user’s wallet. How is the company dealing with transactions with regards to Bitcoin, which sometimes takes over an hour to get confirmation?
While we can’t control the speed while the blockchain confirms transactions, we can control how fast we send your order and the network fee that is applied. Our system automatically adjusts the network fee to allow for the transaction to confirm in 1-3 blocks.
3. Xcoins allows users to use Credit/Debit card to access cryptocurrencies. However, in certain countries where crypto is illegal, users may fall into trouble with the Credit/Debit Card issuer, due to repeated transactions for virtual assets. How is xcoins.com dealing with that scenario?
Well, first of all, as a licensed exchange provider, we are unable to offer services in areas where local regulations restrict the purchase of cryptocurrencies. In areas where we are able to offer this service though, we are finding that the purchase of digital assets using a credit or debit card has actually gotten much easier. While banks typically don’t like dealing with cryptocurrency directly when you are making a purchase using funds from your debit card there are generally no restrictions. We occasionally experience issues with a credit card as many banks don’t like the idea of allowing the purchase of anything they consider to be speculative on credit – but even this has gotten better as we are now processing credit transactions from the Big 5 US banks without issue. While we have found that the actual purchase of Bitcoin with a credit card has gotten easier, we like to remind our customers that many banks will now charge a cash advance fee when using credit so it is best to stick with a debit card to avoid these potential fees.
4. Xcoins offers its user-base free transaction fee if it is unable to send the purchased Bitcoin within 15 minutes. How does the platform handle high traffic and maintain efficient services in that aspect?
We are quite comfortable offering this guarantee because we know that we have the ability on a very large scale to fulfill orders within these limits. As a result, we rarely have to rebate fees because as a policy we send all orders immediately after they are approved. As long as we are able to fulfill our obligations to our customers, we will continue to offer the guarantee.
5. Xcoins completed 6 years of activity in 2019. What are its future plans of operation? Will Xcoins be offering its customers additional products and services moving forward?
We have never been more exited about the future of Xcoins as we are today. We started out with the goal of making the instant purchase of Bitcoin as fast and easy as possible. We figured that if we were able to do this one thing and do it well, that the business would follow – and we were right! Today we have over 250,000 customers who continue to use us for their cryptocurrency purchases. This growing ecosystem of customers who like the service and trust us with their crypto purchases is giving us the opportunity to roll out some exciting services that we find are either not available or are poorly done. I won’t say too much, but just after the first of the year, we will be launching our CryptoAnywhere payment product that will allow users to spend their crypto online or in stores at millions of locations without having to sell their digital assets first. This is a real opportunity and we are looking forward to bridging the payment gap between crypto and fiat.
We also plan to launch a new platform that will give users the ability to securely buy, sell, store, and spend their cryptocurrency without having to give up control of their private keys.
Disclaimer: This is a paid post and should not be considered as news/advice.