XT.com Ranks 64th in Security Despite High Fees
2min read XT.com, a cryptocurrency exchange established in 2018, offers a range of advanced trading features including spot, futures, and margin trading, supporting over 800 cryptocurrencies and 1,000 trading pairs. The platform is headquartered in Seychelles and has rapidly grown to over 7.8 million registered users. It provides high-leverage futures trading up to 125x, staking, and an NFT marketplace, making it a comprehensive platform for both novice and experienced traders.
XT.com's main features include the xt.com mobile app, XT Earn, XT futures trading, and XT copy trading. The mobile app is user-friendly and supports multiple languages, allowing users to trade cryptocurrencies, access live market information, and utilize staking and savings options. XT Earn enables users to generate passive income through staking, savings, and mining, while XT futures trading allows users to speculate on future cryptocurrency prices with high leverage. XT copy trading lets users automatically copy trades from experienced traders, providing a hands-off approach to trading.
The platform offers extensive trading options, including spot trading, futures trading, and margin trading with leverage up to 20x. It also provides copy trading for beginners and passive income opportunities through staking and savings options. XT.com's trading commissions are slightly higher than its peers, with 0.2% maker and taker fees for spot trading and 0.04-0.06% for futures trading. The platform supports 12+ fiat currencies for buying crypto with credit or debit cards and offers a high-performance engine for fast trades with no latency.
XT.com's security measures include two-factor authentication (2FA), passkeys, anti-phishing code, proof of reserves (PoR) data, cold storage, penetration testing, and bug bounty programs. These measures ensure the safety of user funds and protect against cyber threats. The platform is available in over 100 countries but is restricted in regions such as the United States, Canada, and Mainland China due to regulatory compliance issues.
Despite its advanced features and security measures, XT.com faces criticism for its high trading fees, lack of regulatory compliance, and no-KYC trading, which increases the risk of money laundering. The platform's ranking among the top 20 crypto exchanges in terms of trading volume and liquidity, as well as its security ranking of #64 according to Certik, indicates its significance in the cryptocurrency market. However, the lack of regulatory licenses from well-known authorities like the FCA or SEC raises concerns about its legitimacy and recourse in case of losses or disagreements.
In summary, XT.com is a legitimate cryptocurrency exchange with advanced trading features and robust security measures. However, its high trading fees, lack of regulatory compliance, and no-KYC trading options pose risks for users. The platform's availability in over 100 countries and its support for multiple languages make it accessible to a global audience, but its restrictions in certain regions limit its reach. Overall, XT.com offers a comprehensive trading experience for both beginners and experienced traders, but users should be aware of the potential risks and limitations of the platform. 
