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Xcoins Exchange Review: Just the Basics With Expensive Fees

Review Updated
Lyle Daly

Our Cryptocurrency Expert

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Xcoins is an easy-to-use exchange that lets you buy cryptocurrency using your credit or debit card. It's also customer-friendly, with 24/7 support and more ways to get in touch than most of its competitors. Unfortunately, those good points can't make up for extremely high fees. Read our full Xcoins review to learn more about its pros and cons.

Ratings Methodology

Bottom Line

Xcoins offers quick and convenient crypto purchases, but transaction fees are costly. This exchange is also lacking in terms of features and its cryptocurrency selection.

Fees:

4%-6% purchase fee, 3.9% card processing fee

Account Minimum:

$30-$50 minimum order size depending on the cryptocurrency

Full Xcoins review

This cryptocurrency exchange is a good fit for: Investors who want to buy crypto using credit or debit cards and don't mind paying extra fees.

Pros

  • Buy crypto with a credit or debit card
  • Sell crypto with a bank account transfer
  • Easy to use
  • 24/7 customer service

Cons

  • High fees
  • Small cryptocurrency selection
  • Limited features

Top perks

Easy to use

The main selling point of Xcoins is how simple and straightforward it is. It gives you two options, buying and selling cryptocurrency. Once you choose, you just follow a few steps that take you through the buying or selling process.

24/7 customer service

Customer service at most crypto exchanges is mediocre at best. Many don't have phone support available and can take days to respond to messages.

Xcoins is a breath of fresh air. It provides 24/7 phone, email, and chat support. To be honest, I was skeptical that it actually had phone support available around the clock. When I called one night to test it out, a representative picked up in seconds.

Supports XRP

XRP (XRP) is the native cryptocurrency for the Ripple payment protocol. Although it's one of the largest cryptocurrencies in the world, most U.S. crypto exchanges stopped selling it when the SEC filed a lawsuit against Ripple in 2020. If you're looking for a place to buy and sell XRP, Xcoins is an option.

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What could be improved

High fees

It's very expensive to buy crypto on Xcoins. The exchange states that it typically charges 4% to 6% of the purchase amount, which is already a massive amount. There's also a 3.9% processing fee on credit and debit card payments, and that's the only way to pay for U.S. customers.

The grand total is between 7.9% and 9.9%. Good crypto exchanges charge much less, with many of the best options charging 0.5% or less in trading fees.

COMPARE TOP OPTIONS: See The Ascent's Best Crypto Apps and Exchanges.

Small cryptocurrency selection

Xcoins isn't the place to go if you want to check out all types of cryptocurrency. It has less than 10, so it's only suitable for investors who want to dabble in a few of the biggest coins.

Limited features

This is a basic exchange where you can buy and sell crypto. It doesn't offer any other features, such as crypto lending programs that allow you to earn interest, wallet services for crypto storage, or advanced investing tools.

Alternatives to consider

If you want low fees: FTX.US is a much more affordable option than Xcoins. Its trading fees are low, so you can keep costs to a minimum when buying crypto. This exchange also has advanced trading features for more experienced investors.

If you want access to a wide range of cryptocurrencies: Coinbase supports over 200 cryptocurrencies, allowing you to buy and sell everything from the heavy hitters to up-and-coming projects. Like Xcoins, Coinbase is a beginner-friendly exchange, as it has a great design and ample educational content.

Offer


Rating
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Commissions
N/A
Variable fees (Coinbase), 0%-0.60% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
Next Steps

How Xcoins works

Xcoins is a crypto exchange where you can:

  • Buy cryptocurrency with your credit or debit card
  • Sell cryptocurrency and have the money sent to your bank account by ACH transfer

To use Xcoins, you need to sign up for an account by providing your email address and mobile number.

Xcoins lets you buy up to $150 of cryptocurrency without verifying your identity. For larger amounts, identity verification is required. U.S. citizens and residents must provide one of the following types of ID:

  • Passport
  • Driver's license
  • State-issued ID card

You'll also need to take a selfie while holding your ID and a handwritten note with the day's date and the word "Xcoins." After you've completed the requirements, Xcoins will start the verification process within a few minutes.

Fees overview

Xcoins typically charges a fee of around 4% to 6% of the purchase amount when buying cryptocurrency. It also charges a 3.9% processing fee on credit and debit card payments. New customers get a 0% processing fee on their first purchase.

U.S. customers can also buy cryptocurrency on Xcoins using Apple Pay. Xcoins doesn't provide information on whether there are any service fees with this payment method.

Cryptocurrency selection

Xcoins has a limited selection of less than 10 cryptocurrencies. You can buy Bitcoin (BTC), as well as some other big coins. This is also one of the few U.S. exchanges that offers XRP, the native cryptocurrency for Ripple.

Compared to other platforms, Xcoins' small lineup is a weak point. There are quite a few popular cryptos it's missing, including:

You also won't have access to any stablecoins on Xcoins.

Is your cryptocurrency safe with xcoins?

Xcoins doesn't offer crypto storage. When you buy crypto on this exchange, it requires you to enter a wallet address. It will send the cryptocurrency you buy to the wallet address provided.

This means that storing your cryptocurrency will be your responsibility. You'll need to have your own crypto wallet and keep it safe.

In terms of account security, Xcoins offers two-factor authentication (2FA). If you enable this security feature, Xcoins requires that you provide both your password and a code sent to an authenticator app on your phone to log in. This helps prevent unauthorized access to your account.

Looking for a place to store your crypto? Check out The Ascent's picks for the Best Crypto Wallets.

Xcoins is right for you if:

  • You want to buy cryptocurrency using a credit card, debit card, or Apple Pay.
  • You want to have 24/7 customer support available.
  • You're okay with spending extra on fees.