Most cryptocurrency exchanges are places where users can either sell or buy Bitcoin. xCoins is somewhat different, as it is a peer-to-peer marketplace that lets its clients to lend or borrow digital money. This may sound weird or complicated, but here is what you need to know: the whole process of obtaining Bitcoins at xCoins is much faster than trading at any exchange you may be used to. It only takes a couple of minutes for the amount of Bitcoins you want to borrow to be transferred to your xCoins wallet, as it has already been previously deposited by a lender. And if you already own some of this cryptocurrency, the site offers you a great chance to earn some passive income from it rather than keep it lying in your wallet.

Another great thing about this service is that you can use PayPal, which is rarely supported by cryptocurrency exchanges. So if you haven’t heard about xCoins exchange before, we strongly advise you to consider it.


xCoins is a relatively new platform since it was launched in August 2016. Nevertheless, its unique and secure service drew enough attention to help it gain certain popularity and a solid customer base. As of now, xCoins welcomes clients from the USA, Canada, Australia, and the European Union. There does not seem to be an xCoins app for mobile devices, and the only supported currency is Bitcoin, but there are some useful features that help to improve the experience and make sure everything is safe.

Creating an Account

Signing up and creating an xCoins account is a matter of a few minutes. You will have to enter your first name, last name, and email. There is, however, an ID verification required when you make your first purchase, and this process may take several hours. This is why it’s best to submit your first order during xCoins business hours, which are 08:00am – 18:00pm PST. All subsequent purchases will be instant.

To make sure your xCoins login is well-protected; a two-factor authentication is applied, which is a standard measure nowadays.

How It Works

There are certain reasons why obtaining Bitcoins at xCoins is called a secured loan despite the fact that the whole thing reminds more of a usual purchase. Using PayPal as a payment method can be considered one of those reasons. Another one is the option that a buyer has after he gets Bitcoins he has paid for. He can use them in any way he wants, but should he decide to get his dollars back after some time, he can just pay back the loan including the generated interest. Considering that all loans are calculated in USD and the agreement dictates that a lender returns your collateral upon your request, this could be a beneficial move for the borrower if Bitcoin grows in value over time.

So, for a buyer, the process looks as follows:

  • Enter the amount of Bitcoin you would like to buy
  • Pay using one of the available methods
  • Check you xCoins wallet for newly received Bitcoin
  • Transfer the money to your own virtual wallet and use it for whatever purposes you need

If you want to lend Bitcoin, there is nothing complicated about it either:

  • First, you will have to link your PayPal account
  • Make a deposit in Bitcoin that you would like to lend
  • Create a listing with your preferred interest rate
  • Receive payment to your PayPal account when someone makes an order

We have to mention that there have been cases when lenders’ PayPal accounts got frozen because of the nature and frequency of transactions. xCoins has introduced limiting the lending amount for beginners to minimize the risks of PayPal recognizing these payments as suspicious, but that is something to keep in mind.

Available Currencies and Fees

xCoins only supports Bitcoin, which can be purchased with USD. You can deposit money using a credit/debit card, bank account (ACH or eCheck), or PayPal.

If you need to buy Bitcoin and PayPal is your only option, be ready to pay some fees for such a rare opportunity. Besides the loan interest fee (15%-30%) that goes to the lender, you will have to pay 7.5% to xCoins for their services, and a standard fee for processing PayPal transfers (2.9% plus 30 cents).

This website is much more attractive to lenders, who are not charged any fees.


The wallets with users’ money are properly encrypted, making all the transactions on xCoins secure. There are also constant checks for frauds, and the ill-intentioned users are eliminated with the help of an ID verification process.

There has been a hacking attack in 2016, but xCoins has reimbursed all the users who lost their money, and the security was improved since.

Customer Support

xCoins support is one of the reasons the platform often receives negative feedback. It is, however, mentioned on the site that customer support service is available during certain working hours and they reply to clients within 24 hours from submitting a question to Help Desk. And even though it’s difficult to complain about it when we have been properly informed, it would be nice to have constantly available support.

The good thing is there is a well-written FAQ section that can answer most of the questions about the site’s operation unless you have some serious issue that needs individual approach.

The Bottom Line

xCoins exchange certainly deserves attention due to its unique idea, which potentially offers both lenders and borrowers a chance to earn more than they initially pay. However, it is natural that only one side will succeed in the end, making the whole thing seem a bit like a gamble. If you need a simple cryptocurrency exchange, there are plenty of those online and with a better reputation. xCoins could use some improvement to gain more trust from clients, particularly by adding a live chat and guaranteeing that the lenders’ PayPal accounts will not get frozen. The platform has already managed to resolve some issues and become much more reliable, and there are also a lot of happy lenders and borrowers who keep using the site. You may want to give it a shot and become another satisfied customer.

Check Also

How to Acquire Bitcoin in Canada

This manual will provide comprehensive information on a number of options allowing you to buy …

Leave a Reply

Your email address will not be published. Required fields are marked *