Today’s article lets us study the characteristics, how it works, and the advantages and disadvantages of the XT.com exchange to find a new option for investors and traders. According to some experts, XT.com – reputable cryptocurrency exchange should try.
Names like Binance, Huobi, or Crypto.com are too familiar to users. Still, you should diversify your trading points, don’t focus your capital in one place, and look for new exchanges to enjoy new offers and experiences. Therefore, XT.com will be one of the choices you can consider.
What is XT.Com?
The XT.COM exchange was founded in 2018 and is registered in the Seychelles. Its operating headquarters are located in Dubai. It has operations centers in Singapore, Europe and other countries and regions, and its business covers the world.
The platform owns the global top-level domain www.xt.com and currently has over 3 million registered users, over 300,000 monthly active users, and over 30 million users in the ecosystem.
XT.COM is a comprehensive trading platform that supports over 500 high-quality tokens and 800 trading pairs.
It has rich trading types such as token trading, margin trading, OTC trading, futures trading and buying crypto with credit card. We provide users with the safest, most efficient and professional digital asset investment services.
Services and Features
Buy and sell cryptocurrencies
The Xt.com exchange offers users the opportunity to buy and sell crypto BTC, ETH, USDT, LINK, BNB, XRP, MATIC, AAVE, and about 30 other coins directly using various payment methods. Active users can use third-party payment channels or P2P to buy and sell those coins.
Third-party payment channels: The channels used on the platform are Banxa, MercuryO, and AdvCash. These payment channels accept Visa cards, MasterCard, Apple Pay, and Google Pay to buy cryptocurrencies. If you want to sell crypto directly into fiat, you can only use the bank transfer option through Banxa.
P2P: Short for peer-to-peer transactions, this payment method involves direct transactions between merchants and buyers to purchase USDT, ETH, and BTC.
Spot trading
This feature allows users to trade cryptocurrencies against one another. To make navigation easier, the spot trading pairs are divided into sections, namely USD pairs, BTC pairs, ETH pairs, Alts, Metaverse, Web3.0, Layer 2, DeFi, etc.
There are two types of spot trading on Xt.com. The standard spot trading presents users with basic charts and trade functions and is meant for traders who are not so experts. On the other hand, there is Pro spot trading which presents users with more complex features like a more detailed graph function and deeper order books.
Futures trading
There are three types of futures trading on Xt.com. They are:
- USD-M Futures contracts: The contracts are denominated in USD as the base currency. Thus, profit and loss are denoted in dollars. This option is the futures contract with the most amount of coins.
- COIN-M Futures contracts: These are contracts denoted in the cryptocurrency as the base currency. Thus profits and losses are calculated in that particular coin, not in dollars.
- Quanto contracts: Also known as Quantity-adjusting option, this contract option takes it a step further than the first two. Thus, it is a combination of three currencies where two currencies are traded against each other, but profit and loss, as well as margins, are settled in a third currency.
On Xt.com, there are currently three Quanto options open. They are BTCXWC, BTCTP, and ETHXT.
Margin trading
There are 39 coins currently traded on the margin on the exchange. These coins include XT, BTC, ETH, EOS, XRP, etc. The leverage options range from 3x to 20x. As is customary in crypto exchanges supporting this feature, Xt.com includes a warning for prospective margin traders of the need to consider the risks together with the rewards.
Just as in spot trading, there are two types of margin trading on the exchange. They are the standard and pro trading options. The differences between the two are the same, as explained earlier under spot exchange features.
ETFs
Exchange-traded funds are crypto equivalents of mutual funds that closely track the price of an asset and allow traders to trade that asset without having to own it. On Xt.com, the ETF page opens one to 121 leveraged tokens instead. Leveraged tokens are simply spot-traded tokens that are multiplied in value. Examples are BTC3L(BTC 3x Long), BTC3S, etc.
Savings
XT offers some sales events from time to time where users are rewarded for saving some tokens like Sol, XT, etc., on the platform. The savings are divided into fixed and flexible savings with juicy rewards on both.
Staking
This is similar to the savings feature but not in that the coins are not saved with the exchange but are saved with the cryptocurrency protocol behind the coin itself. Thus, this service is available for coins like XTZ, ETH, TRX, KAVA, XWC, XRP, USDT, XT, and SHIB. The staking period is from 30-90 days, and rewards are distributed regularly.
Pool
The pool feature opens up traders to the possibility of mining DeFi coins under the oversight of the XT exchange.
ETH 2.0 staking
The Ethereum network is migrating to a more advanced version of its initial setup. This migration already started and should be completed by the end of 2022. After this migration is done, the network will become more scalable, sustainable, and secure as it works on a Proof-of-stake system.
Users can stake their Ethereum tokens on the ETH 2.0 launchpad to support its launch. Staked ETH will not be retrievable until ETH 2.0 has been fully launched. However, even now, stakes are rewarded with benefits as they await the launch of the proposed upgrade. This function is also available on the XT exchange.
XT Smart Chain Features
XT Smart Chain is a decentralized, energy-efficient public chain. It is compatible with smart contracts and supports high-performance transactions. The endogenous token of the XT smart chain is XT, which adopts the HPoS consensus mechanism, which has low transaction costs, Features such as low transaction latency and high transaction concurrency.
The mission of XT Smart Chain is not only a public chain, but also focuses on discovering and supporting high-potential developers and innovative projects. Relying on the world’s largest trading ecosystem, XSC is committed to becoming the birthplace of innovative technologies and innovative businesses. , To build a complete ecological cycle of technology development, application promotion, and trading.
Features
- An open and decentralized network to maintain the security of the network and assets.
- Support EVM programmability and smart contract compatibility to reduce development or migration costs.
- Meta transaction function: fee reduction, effectively reducing the cost of developers and users on the chain.
- Support cross-chain asset transfer and optimize user experience.
Reward
XT Smart Chain’s mining rewards are only commissions. The distribution rules are as follows:
- 10% to backups (10% is evenly distributed to ordinary validator nodes).
- 40% validators share by vote (40% is distributed to active validator nodes in proportion to the pledge weight).
- 50% validators share (50% is evenly distributed to active validator nodes).
For any account, you can pledge any number of coins to the validator, If you want to cancel the mortgage, you need to do the following:
- Send unstaking transaction to validator management contract;
- Wait for 86400 blocks and then send a withdrawal transfer to the validator management contract.
Each validator node can individually set the percentage of the current block reward to be distributed to users. Staking users get rewards based on the percentage. Ordinary validator nodes can also be distributed to staking users.
Advantages of XT.com exchange
- Reasonable transaction fee: XT.com exchange charges a trading fee that fluctuates at 0.1% for maker and 0.2% for taker, depending on the number of transactions increased, this fee will be reduced.
- Fiat trading support: XT.com allows users to buy and sell coins with fiat currency such as USD, EUR, JPY and GPB.
- Support OTC trading: OTC trading means you can buy and sell directly with other users without going through orders, giving yourself the desired price, but at XT.com to trade OTC you have to do currently trading at least 100k USD.
- Cross-platform support: In addition to trading on the web, you can use Bitfinex through a mobile app, available for iOS and Android.
- Allow Margin Trading: As mentioned, XT.com allows users to trade on margin with 3.3x leverage.
- Support many types of orders: In addition to normal trading orders (Limit), XT.com also has other orders such as Market, Stop, Trailing Stop, Fill or Kill, etc.
- Security and safety: XT.com always respects the security of customers’ information and assets, in history XT.com has been hacked and then until now they have continuously improved the problem. Regarding security, XT.com provides many security features such as 2FA, Email encryption, withdrawal confirmation,…
- High liquidity: With a trading volume of billions of USD, XT.com is obviously very liquid.
Development milestones of XT.Com
With more than 4 years of development, XT.COM deserves to be a reputable exchange for investment.
- April 7, 2021: XT.COM was invited to attend the 2nd TOKYO Expo Blockchain.
- April 21, 2021: XT.COM CEO Weber attended Casper show – Hangzhou.
- September 9, 2021: Opening Ceremony of XT.COM 3rd Anniversary – Metaverse Adventure.
- December 22, 2021: XT.com Kicks off the Christmas Party with a Mystery Box and a Limited Mascot NFT First Launch.
- January 20, 2022: XT.com Exchange releases XTStarter platform, $5 million registration event.
- January 27, 2022: XT.com exchange launches an index product with a prize of 10,000 USDT.
Instructions for depositing and withdrawing money and trading on XT.Com
Instructions for depositing and withdrawing money on XT.Com, I will take as an example USDT, you can do the same with other coins/tokens on the XT.Com platform.
Deposit money on XT.Com
Step 1: In Assets, select “Total Assets“.
Step 2: Click on Deposit.
Step 3: Select the coin you want to deposit.
Step 4: For example, I choose to load USDT, select Network.
Step 5: Immediately the wallet address corresponding to the network will be displayed. You can deposit money to the correct address of this wallet.
Withdraw money on XT.Com
Step 1: In Assets, select Total Assets.
Step 2: Click Withdraw.
Step 3: Select the coin you want to withdraw.
Step 4: For example, I choose to withdraw USDT, select Network.
Step 5: Then enter the Address (Receiving wallet address), Amount (Withdrawal volume), secure password. Then check the box I agree to use internal transfer to enjoy 0 transfer fee and quick transfer service. Finally press Submit.
Instructions for trading on XT.Com
Step 1: In the Trading section, select “Standard Spot“.
Step 2: Select the coin pair you want to trade.
Step 3: Enter the purchase price, selling price, quantity, and then press Buy or Sell depending on your purpose.
XT.com Fees
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 tokens
XT.Com (XT) is the token of XT.Com exchange used to reduce transaction fees and use in exchange events.
Specifications:
- Token: XT.
- Token Name: XT.Com
- Blockchain: Ethereum.
- Contract: 0x4be10da47a07716af28ad199fbe020501bddd7af.
- Standard: ERC-20.
- Total supply: 1,000,000,000 XT.
- Supply of circulation: Updating…
XT Token is used for the purpose of reducing transaction fees, rewards in programs (Staking, Saving) and events of XT.Com floor such as Voting, Listing, etc.
NFT Marketplace
April 8, 2022 – XT NFT, powered by XT.com, is officially launched. The new Non-fungible Token Platform (NFT) intends to bring together NFT artists, creators, and enthusiasts around the world. It is a digital marketplace that allows NFT buyers, sellers, creators and collectors to trade digital assets with minimal costs on a secure platform. Traders can also easily connect with a large global community with unique features and exclusive collaborations.
The XT NFT marketplace will support multiple NFT formats, such as audio, video, and images, providing users with a wide variety of NFTs to list on its platform. The XT NFT Marketplace aims to redefine the NFT trading experience by providing the best minting, buying and selling experience, leveraging the XT chain infrastructure for scalability and speed as well as consolidation XT community.
Conclusion
Above is an article introducing XT.Com floor as well as information such as advantages, disadvantages, transaction fees, etc. about XT.Com floor. In addition, instructions such as registering an XT.Com account, depositing and withdrawing money and trading on XT.Com.
Hopefully, through here, we can understand the operations & transactions on XT.Com safely and investors will have more choices about reputable exchanges.
Let us know your suggestions in the comments section to improve the article.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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