Xcoins Review

Review of Xcoins. Is it legal way of buying bitcoins or not?

Xcoins service becomes more and more popular. More websites advertise it, therefore, people start wondering what it is and how to use it. This service calls itself a Bitcoin lending service which allows to purchase bitcoins through PayPal service or with the help of a credit card.

How to buy bitcoins via Xcoins?

It was quite tough to buy bitcoins via Pay Pay before because it did not provide an option to chargeback. However, a new service that is called Xcoins claims that it can provide such option. Instead of selling bitcoins, the service lends them. Actually, this is a credit or it also can be called an ambiguous sell.

A buyer has to come to the service and say that he or she wants to loan some bitcoins. After a short process of checking a buyer’s ID, the service will offer a buyer to deposit the USD equivalent of how much a buyer wants to borrow plus credit card or PayPal processing fees and a fixed amount that acts as the interest rate on the loan.

The interest of the loan is absent as long as the sum is a one-time payment. In most cases, fees come to more than 20%.

First, you will have to check whether your country supports Bitcoin purchase to be able to get them through the service. When you visit Xcoins website, you will see that they have competitive fees as long as lenders compete against each other. This gives the maximum interest. If you register as a lender, your interest will be fixated at 15%. This is not a big number, however, it depends on a rate. Still, it is much higher than other Bitcoin exchange services can offer.

Also, the site says that you can repay the loan at any moment and get back your deposit in USD minus fees. If you are going to take the deposit back, you need to keep in mind these two details:

All loan amounts are in USD. You will have to return the amount of bitcoin equivalent to the amount you received in USD. It means that if you took $100 when Bitcoin was $1,000 then you get 0.1BTC without a fee. If Bitcoin is $2,000 it means that you have to give back only 0.05BTC.

You will have to contact the lender directly if you want to arrange paying the loan back. You will need to trust someone whom you do not know to respect this agreement and actually give you a refund.

Reviews about the Xcoins service from users

Some customers say that Xcoins’ page on BitTrust does not exist. However, we have found cached copy and read extra reviews from the users. In general users say that it is easy to register, the access to purchasing bitcoins is very easy if you used CC with PayPal, and if you want to take less than 20 USD, there are no issues.

However, customers also explain some shortcomings. They say if you want to take more than 20 USD, you will face errors when make a payment, therefore, you will have to send Xcoins customer support a message and explain your problem. Another disadvantage of service is that refund can take up to a week or even two weeks. Also, if you keep sending customer support messages about purchasing bitcoins but not receiving it from a lender, you may be banned from buying bitcoins again through the service. One more problem that was noticed is that the customer support does not work around the clock. If you send your issue, expect a reply in 2 days minimum. Finally, the biggest problem is when you buy bictoins but a lender does not send them, you still have to pay for them.

There are a lot of positive and negative feedbacks that youc an find and make up your mind. However, we provided you the most common reviews. There are a lot of reviews about Xcoins service at Reddit and BitcoinTalk, however, yoy may find it difficult to differ honest reviews from those were written on purpose to attract the audience or push customers away.


Xcoins service does not look very impressive and stable yet to make bitg payments. It also seems like fees will be too high compared with other exchange service. However, if there is only one way to get bitcoins through PayPal and you are willing to pay the set price, then you may consider using the service that is called Virwox.

For sellers of bitcoins the ROI can be too high, therefore, it is not smart to use the service for the selling purpose. However, if you do not care about your PayPal account to be shut down, you can try again and maybe you will have another account to see your bitcoins and earn money.

Before you start using the service, review FAQ page and explore every possible issue.