What is XBO.com and How to Use It to Buy and Sell Cryptocurrencies?
XBO is one of the world’s largest crypto social trading platforms, with thousands of its users after a few days of its launch. XBO is known for offering its services in a wide range of countries, and this flexibility in terms of remote regions gives this top crypto brokerage firm an advantage. The crypto exchange has partnered with Onchain Custodian to ensure the security of its client’s assets.
Traders from all around the world can access customer care 24 hours a day, seven days a week on the platform. With the moniker XBOND, XBO offers its own crypto asset. This leading altcoin exchange allows you to trade over 400 different cryptocurrencies.
Is XBO legit or a scam?
In actuality, XBO is a legitimate bitcoin exchange. Two-factor authentication and industry-standard encryption are used by XBO. The company claims to have set up a fund to reimburse losses incurred by hackers.
To secure the crypto assets kept on its exchange, XBO has teamed with Onchain Custodian. This includes Lockton coverage for hacking and other cybercrime. It also runs a bug bounty programme to encourage ethical hackers to reveal security flaws in the system.
The XBO exchange uses industry-standard security methods to protect your account, and you can use two-factor authentication if you want to.
XBO is believed to keep client assets in cold storage, making them more difficult to hack. However, it is unknown what fraction of the population is kept online. It needs to retain some money in online hot wallets so that consumers may make withdrawals and trades, but knowing what percentage is where would be helpful.
How to buy and sell the cryptocurrencies using the platform
Open your XBO.com Account
Opening an account is straightforward, and you can do so over the phone or via email. Once you’ve generated login and password and verified your account with a code, you’re ready to begin.
If you don’t want to go through the account authentication process, you can trade cryptocurrencies with just an email address. However, as previously said, in order to take advantage of its advanced features, you must first confirm your account.
You can also prove your identity by going through a simple process and providing proof. After completing these procedures, you’ll have access to higher withdrawal limits and trading options that you wouldn’t have had otherwise.
Execution
To execute your trades, you can use XBO’s trading bot. To sell high and purchase low, you can use the Classic Grid. You can invest small amounts on a monthly basis instead of a large quantity. Trading bots can purchase and sell your cryptocurrencies for you, eliminating the need for you to keep an eye on the market at all times.
There’s also Futures Grid, where you can leverage and sell if you believe the price of a coin will fall or long if you believe it will climb, and Smart Rebalance, which rebalances your positions to maintain your portfolio percentages the same.
Deposit Fees
Trading fees on XBO are extremely cheap compared to those on Binance, the market leader. Investors can also obtain a discount depending on their average monthly holdings of XBOND, the platform’s native token, or their previous month’s trading volume. Customers can save an additional discount on their prices by paying with XBOND.
Like most cryptocurrency exchanges, XBO has a great fee structure, which means you pay different fees depending on whether you’re a maker or a taker. Given Bitcoin’s present volatility, investors must meet rapidly changing conditions in relation to other exchanges to qualify for a volume discount. XBO’s fees may be less expensive than those of most other exchangers, even before discounts.
XBO does not charge deposit fees, however, when you withdraw your coins from the exchange, you will be charged a fee based on the coin. An equal pay requirement may also apply to you. Here are some examples of withdrawal costs based on the token you choose. Due to price fluctuations, minimum quantities and pricing may vary.
Makers increase exchange liquidity by providing new public orders for others to fill. By satisfying maker orders, takers, on the other hand, reduce liquidity. Until your order arrives, you won’t know whether it’s a maker or a taker. As a result, you won’t know how much it will cost until it arrives.
Bottom Line
If you’re a seasoned cryptocurrency trader searching for features not available on top exchanges, such as access to hundreds of altcoins not available on other exchanges, XBO is a wonderful option. You can buy cryptocurrencies with fiat money using XBO, but only via a third-party app.
If you’re a seasoned crypto trader looking to earn more tokens by lending yours to others, XBO might be a good fit. Because the UI isn’t intuitive, this exchange isn’t suggested for newcomers or non-crypto enthusiasts.
