Is XT.com a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether XT.com is a good crypto exchange to start trading with. In this article you will learn whether XT.com is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker XT.com
The XT.com exchange is a platform for P2P exchange and cryptocurrency sales, including derivatives and margin trading. This is also an exchange for fiat funds. The peculiarity of the cryptocurrency exchange is that it issues its proprietary cryptocurrency and provides users with software for mining. Bitcoin, Ethereum, Litecoin, Tether, Tron, Ripple, and other cryptocurrencies are traded on the website, with over 120 instruments provided here in total. There are tokenized assets. The leverage can be up to 125x depending on the selected asset. Any strategy can be used on the cryptocurrency exchange, including scalping. There are stop loss and profit functions. The storage method for cryptocurrencies is cold. Replenishment and withdrawals are possible from bank cards and accounts to bank cards and accounts. A standard affiliate program and special bonuses for blockchain members are offered.
| 💰 Account currency: | Cryptocurrencies, fiat currencies |
| 🚀 Minimum deposit: | From $30 (depends on the asset) |
| ⚖️ Leverage: | Up to 125x |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
XT.com Pros and Cons
👍 Advantages of trading with XT.com:
•Cryptocurrencies and other varieties of currencies;
•Replenishment in fiat currencies;
•Favorable trading commissions;
•Leverage is up to 125x.
•Proprietary mining platform;
•Large trading volumes; high liquidity.
•Convenient trading terminal;
👎 Disadvantages of XT.com:
•No investment programs (only deposits);
•No training programs or study guides.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for XT.com Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. XT.com offers traders the following conditions.
| 💻 Trading platform: | Proprietary trading platform based on TradingView |
| 📊 Accounts: | Standard, derivative, mining, margin, fiat |
| 💰 Account currency: | Cryptocurrencies, fiat currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, cryptocurrency wallets |
| 🚀 Minimum deposit: | From $30 (depends on the asset) |
| ⚖️ Leverage: | Up to 125x |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution (market price), Limit Order |
| ⭐ Trading features: | Many cryptocurrencies, tokenized assets, currencies; proprietary mining platform; replenishment in fiat |
| 🎁 Contests and bonuses: | Yes |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of XT.com commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Commissions for foreign exchange transactions on XT.com depend on the trading level of the account. There are seven trading levels, including zero. The higher the level, the lower the commission. At the zero levels (P0) the maker's commission is 0.05%, and the taker's commission is 0.2% with a trading volume of up to 0.1 BTC within 30 days. At the highest level (P6), the maker's commission is 0.005%, and the taker's commission is 0.02% with a trading volume of 8 BTC within 30 days.
Commission rates for deposits and withdrawals depend on the specific asset. For example, the withdrawal fee is 1 XT.com (token) for the site's proprietary cryptocurrency, and for Bitcoin, the commission is 0.0006 BTC. The size of commissions and limits for each asset can always be clarified in the corresponding section on the cryptocurrency exchange website.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.05% per application | Yes |
Investment programs of XT.com
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. XT.com offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The XT.com broker doesn’t offer investment programs; however, any user can deposit cryptocurrency funds. Deposits differ in terms of conditions, as a rule, we are talking about a deposit for several months with a payment of fixed interest on top of the amount invested. The best rate so far is 24% for staking Tether stable coin. The minimum deposit is $100. Different deposits have their terms, their list is updated in the corresponding section of the site.
You can get extra passive income from the blockchain platform by mining the cryptocurrency of XT.com. Just install a mining application. In the future, you can act as a regular Node or a SuperNode of A and B categories. To become a SuperNode, just fulfill one of the terms specified on the corresponding page of the site. SuperNode status provides a discount on trades and increased income from referral programs.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
XT.com’s affiliate programs
Register and verify on the site to become an XT.com partner. After that, you will have access to a personal link and a QR code. Each user who registers on the exchange using your link or code becomes your referral. The referral brings you income as part of the commission on their trades.
The interest of referral commissions that you will get depends on your account referral level. There are seven levels in total, including zero. The levels are dynamic and change depending on two indicators – the number of active referrals and the volume of referral trades in BTC. The commission and payout discount are 0% at the lowest level (P0). At the highest level (P6) you will get a 90% discount on your commissions, and transaction income is 90% of your referrals' commissions.
Conclusion. Is XT.com good for beginners?
The XT.com cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, XT.com could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.