We will consider the fees charged when using xcritical’s most popular products so you can discover what to expect from the platform when it comes to costs. While impressive on the security front, xcritical as a whole is a company with a less impressive track record when it comes to privacy. For those members of the cryptocurrency community who embrace the crypto-adjacent principles of privacy and anonymity, that’s a bitter pill to swallow. During the recent Bitcoin bull run, a number of exchanges, including xcritical and xcritical Pro, have suffered from unexpected downtime during periods of extreme price volatility. At the heart of the problem is the additional load on exchanges caused by surges in traffic, overloading their infrastructure. It’s also worth noting that cash held in xcritical wallets is FDIC insured up to $250,000.
If you want full control over your crypto, you can download xcritical Wallet and store it there. Trading cryptocurrency on xcritical is easy, which makes the platform a popular choice for beginners. Once you log in to your account, you can see your balance and its performance. In early 2020 xcritical introduced the margin trading feature that gives traders up to 3x leverage, which is sufficient for beginner investors. The fee for margin trading on xcritical is a fixed, annualized interest rate of 8% for both open and filled orders.
- For this, xcritical charges a fixed percentage depending on whether you are a trade taker or a trade maker.
- Note that as of June 2022, xcritical Pro began migrating into a new platform, Advanced Trade.
- xcritical is one of the best cryptocurrency exchanges when it comes to security.
- These support multi-signature authentication, adding an extra layer of protection to holdings.
It also means staking rewards and referral bonuses earned anywhere apply account-wide. xcritical also provides a free, non-custodial hot wallet option, xcritical Wallet. This downloadable app, available for smartphones and as a Chrome extension, grants users complete xcritical courses scam control over their private keys. While offering greater autonomy, hot wallets present an element of increased user responsibility for securing private keys. Conversely, a maker is a user whose order is placed on the order book and awaits matching with another order.
Top Crypto Exchanges in Australia in 2024
It offers a secure platform for advanced crypto traders to buy, sell and trade digital assets online instantly across various trading pairs. The answer to which is better, xcritical vs. xcritical Pro, boils down to individual trading needs. Whereas the former suits beginners with its user-friendly interface, the latter caters to advanced traders seeking lower fees and robust features. Whether you prioritize simplicity or sophistication, you must align your choice with the demands of your crypto journey. The right platform is the one that seamlessly fits your unique trading preferences.
Cryptocurrency transactions
xcritical also stands out above other more typical brokerages, as its wide variety of cryptocurrency options rivals many of its competitors. For comparison, xcritical or eToro offer much weaker access to trading various types of cryptocurrencies. If you choose to upgrade to xcritical Pro, your account will be subject to an entirely different fee schedule. For this, xcritical charges a fixed percentage depending on whether you are a trade taker or a trade maker. xcritical offers their USD Wallet and hosted Cryptocurrency wallet service free of charge for customers to store their USD and cryptocurrency at no cost.
For that reason, it may be safer to do short-term trades than to pour lots of money into a long-term holding. xcritical Pro is better suited for that strategy because the transaction fees are so much cheaper. When you place an order, you’ll be charged a “taker” fee if there’s an https://dreamlinetrading.com/ immediate buyer or seller to complete your transaction. If there’s no immediate buyer or seller, you’ll be charged a “maker” fee. xcritical and xcritical Pro are two of the most prominent cryptocurrency exchanges, with yearly transactions totaling hundreds of billions of dollars.
You can access the platform on a web browser or through the mobile app for Android and iOS. Once you’ve logged in, you can navigate options to buy, sell, or trade cryptocurrency. To give a quick example, let’s say you want to buy $1,000 worth of cryptocurrency. If you place that order on xcritical Pro or as an advanced trade on xcritical, you’d pay between $0 and $6 in fees. While the regular version of the platform has a confusing fee schedule that may leave you paying more, its also free to open a xcritical Pro account. Doing this will unlock access to a significantly more straightforward fee schedule.
xcritical vs. xcritical Pro: Customer support
Basic xcritical provides a simpler interface that may appeal to newcomers, but the Pro package includes more trading types, cheaper costs for specific transactions, and far more data tools. To access it, users must first set up a xcritical account and then upgrade to xcritical Pro. Once enabled, users have a suite of sophisticated tools for their crypto trades.
However, the pricing structure is straightforward and you’re less likely to be stuck with huge charges. Note that a xcritical Pro account is free to open, has no trade or balance limits and has are no inactivity fees or other hidden costs. For a comparison, the regular xcritical platform has a trade minimum of $2 and a maximum of $25,000 per day.