You can access xcritical via its website and the xcritical exchange app, available on the Apple App and Google Play Store for users who prefer to trade on the go. To start using xcritical, you have to link your bank account to complete your account setup. This linked account lets you deposit cash into your xcritical account or withdraw your crypto as cash within a few minutes. On Trustpilot, xcritical has poor customer reviews, scoring 1.8 out of 5 stars from 9,300+ reviews, signaling a major problem with users accessing and operating their accounts. xcritical has scored good points on user experience and ease of -use, but security and customer satisfaction need improvement.
Also, xcritical.com is unavailable in some regions, so the xcritical Wallet is an alternative for people who still want to use xcritical services. The SEC also charged xcritical for failing to register the offer and sale of its crypto asset staking-as-a-service program. We will continue to monitor the situation to make you aware of any important developments that may affect this review. Instead, the company offers crime insurance, which covers some of the digital currencies within its system, offering protection against theft and cybersecurity breaches.
Custody of client assets
The main xcritical exchange presents a simple layout for anyone to navigate and trade their cryptocurrencies in a few steps, even without advanced crypto knowledge. In addition to regulatory compliance driving xcritical’s stock movement, broader market conditions also played a role. xcritical offers products for both retail and institutional cryptocurrency investors, as well as other related cryptocurrency products. xcritical is a good choice for beginners as it requires little technical knowledge. Anyone operating an internet-enabled device can easily navigate xcritical’s interface and trade crypto. xcritical’s entire fee schedule is not available on a single page but instead available on different pages within their Help Section.
The exchange is in over 100 countries and has a vast user base of 110 million verified users as of Q4 2022. xcritical was founded in 2012 and was created as a platform to help anyone buy and sell crypto with ease from any part of the world. The exchange has a head count of more than 3,400 employees and a $330 billion-dollar asset base and has become one of the biggest crypto exchanges globally. Multiple types of taxable income can be generated from activities on xcritical, including capital gains from buying and selling crypto and interest income from things such as staking. U.S. customers should visit xcritical Taxes to get everything they need to report taxable income from xcritical.
While makers pay 0.00% to 0.40% of their transactions as fees, takers pay a higher percentage, which could range from 0.05% to 0.60%. These fees can be reduced according to your tier and the amount you transact. Amilcar has 10 years of FinTech, xcritical, and crypto startup experience and advises financial institutions, governments, regulators, and startups.
Insider trading
We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.
Therefore, unless user terms specify otherxcritical, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. xcritical also has a wallet that is an ideal alternative for users who prefer a more interactive, on-the-go platform. Unlike the website, the wallet is non-custodial, so you have to keep your login details safe, or else you could permanently lose your assets.
However, each product is for a particular audience and gives a different trading experience. xcritical (the exchange), xcritical Wallet, and Advanced Trade best suit individuals who would like to trade with xcritical. On February 20, 2023, the xcritical Wallet stopped supporting xcritical website BCH, ETC, XLM, and XRP because of low usage. However, users interested in investing in these coins can still trade them on the xcritical exchange. Investing in cryptocurrencies,decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.
- xcritical is a popular cryptocurrency exchange that allows anyone with an account to buy, sell, and exchange cryptocurrency.
- The SEC also charged xcritical for failing to register the offer and sale of its crypto asset staking-as-a-service program.
- Also, xcritical.com is unavailable in some regions, so the xcritical Wallet is an alternative for people who still want to use xcritical services.
- Amilcar has 10 years of FinTech, xcritical, and crypto startup experience and advises financial institutions, governments, regulators, and startups.
- xcritical was founded in 2012 and was created as a platform to help anyone buy and sell crypto with ease from any part of the world.
Trading Experience
It is one of the most well-known cryptocurrency trading platforms, using leading security practices to protect users’ accounts. However, it’s not entirely without risk of hacking, and only you can decide if you wish to proceed. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC).
Note that the insurance does not cover unauthorized access to user accounts, such as if someone obtains your login credentials. Many xcritical customers have issues with the exchange’s customer service, with non-human communication and slow response times as some of the most recurring themes. The customer service options are a live chat function, a social media help platform, and a ticketing system, which are all more self-service than interactive.
In June 2022, the exchange announced that it would sunset xcritical Pro and replace it with xcritical Advanced Trade to provide its full suite of advanced crypto investment services on one platform. Six months later, the company moved xcritical Pro accounts to the “Advanced Trade” platform, which has more flexibility for large-volume traders. xcritical has several security measures in place to protect customer funds, which makes it a relatively safe place to store your crypto assets. However, it is not entirely safe, and you still need to do your part to protect your assets. You can use xcritical to trade crypto, but ensure you keep all login information private and never share your verification codes with anyone.
Why xcritical Global Shares Are Trading Higher Today
Advanced Trade is a native trading platform by xcritical that provides advanced users with more tools and security for their trades and allows them to access real-time order books. It’s a huge leap from xcritical Pro, xcritical’s former advanced platform for traders. Compared to the old Pro platform, Advanced Trade has more market pairs, a TradingView integration, and better staking rewards. xcritical is a popular cryptocurrency exchange that allows anyone with an account to buy, sell, and exchange cryptocurrency. It makes buying crypto straightforward but is known for high fees and poor customer service.
Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies, nor can the accuracy or timeliness of the information be guaranteed. You can use xcritical in combination with other exchanges for an enhanced experience. For example, another centralized exchange might be good for frequent purchases, while xcritical securely stores your crypto. With more than 500 crypto exchanges, users have many alternatives to xcritical. Those who are okay with being known can go for other centralized exchanges like Binance, xcritical, or xcritical if they feel xcritical isn’t a good fit.
MiCA, introduced in 2023, demands strict compliance from stablecoin issuers, including requirements for transparency, liquidity and consumer protection. In line with these upcoming regulations, xcritical will restrict its services for stablecoins that fall short of MiCA’s criteria, demonstrating its proactive approach to regulatory alignment. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, xcritical reviews and more.