Xcoins is a digital platform that allows users to buy and sell cryptocurrencies. It has a policy of instant deliveries of purchases and takes a small fee of 4% – 6% of the value of currency bought. It also takes a processing fee of approximately 3.9% while working with debit or credit card payments. For new users, the first transaction is free. Xcoins also allows Apple Pay to purchase cryptocurrencies however this is restricted to customers based in the US. Let us know ‘Does Xcoins Accept Prepaid Cards?’.
Does Xcoins Accept Prepaid Cards?
You can buy cryptocurrencies like Bitcoin and Etherium on xcoins.com. Xcoins accepts prepaid and virtual cards, but they have to be 3D secure. These cards need to be verified by MasterCard SecureCode and by Visa. Xcoins is licensed by the MFSA, Malta Financial Services Authority. Under the Virtual Financial Asset Class 3. The acceptance of debit cards and various other online cards has made Xcoins one of the first companies in this space to offer such a service. Xcoins is open 24/7 and operates in 167 out of 195 countries. Debit cards can be used to purchase cryptocurrencies like bitcoin and many others.
Prepaid Cards
Prepaid cards are an easy and efficient way to pay money for services and products with money that you have stored in the bank. This money has to belong to you. To operate a prepaid card you first need to buy a card and fill it up with money as per your needs. Once the money in the card runs out, you can refill it with cash using your bank account. A big benefit of using such cards is that it is a good budgeting tool. It helps you keep the amount of money you spend in check as it is the money you have available. Unlike credit cards which need complicated proofs and procedures, prepaid cards have comparatively fewer processes. And it is easier to purchase with them.
Prepaid cards with cryptocurrencies
Using prepaid cards to pay for cryptocurrencies is often more expensive than using bank transfer as prepaid cards often charge a higher fee, However, there must be a reason for a famous platform like Xcoin to give customers the option of paying with a prepaid card. The reason behind opening the option of prepaid cards to pay for cryptocurrencies is that it is a safer means of investment.
While using other methods, investors often rely on the profit of the crypto industry to pay back their credit cards. This is very dangerous as there is no security for the rise of a cryptocurrency. If it suddenly falls, the buyers will be in a stew as they will not have the money to pay the credit card company with whom they bought the currency.
According to a survey done by LendEDU, one-fifth of investors who bought Bitcoin using credit cards did not pay for their purchases right after buying the currency. This shows how reliant the investors are on the prices of the currency to miraculously always stay up.
Using prepaid cards is more efficient and safe as it processes the payment instantaneously. Unlike credit cards which require a processing time of 3-5 days. Moreover, with prepaid cards, buyers know the exact amount they have available on their cards and they, therefore, make their purchases per their budget in limited quantity. This way if there is a loss, they will only lose money that they already owned and will not have to pay any third party.
Conclusion
Xcoins offers customers the option of accept prepaid cards to purchase cryptocurrencies, however, the cards must be legal and secured by third parties. The use of prepaid cards is beneficial as it tells a person how much money they have available to sell, and it allows them to make transactions on the spot.
FAQ
Q)What are the different fee rates of Xcoins and bank transfers?
A)Xcoins requires its customers to pay a fee of 4% – 6% of the amount they invested in a cryptocurrency. This fee is very high when compared to the fee for bank transfers which can be lower than 1%. For context, if you invest $2500 using a prepaid card you will get a cryptocurrency worth $2375. Whereas, if you use a bank transfer for the same purchase you will get currencies worth $2475.
Q)How to contact Xcoins support?
A)Xcoins is available for contact 24/7 via several platforms. They have live chat on their website, phone contact, and email contact. they have a policy of replying to messages on their website within 15 minutes. Their email address is help@xcoins.com
Q)How to Open an Xcoins account?
A)Opening an Xcoins account is simple and requires minimal effort. You need to provide your email address and mobile number. After confirming these, you will need to go through a verification process. For trading higher amounts and surpassing the daily or monthly transacting limits, you will be required a further verification ID process.
Q)Why is the Xcons account not accessible?
A)The account needs to be verified and activated before being used. You can do this by going to the email sent after the signup and clicking on the link provided there. If you can not see this email n your inbox then you should check the spam folder. It may have accidentally gone there.
