Brief information Xylobit
The Xylobit cryptocurrency exchange positions itself as an online platform offering a variety of features for growing capital. The website states that the exchange has been operating since January 16, 2022. According to the information on the website, it was founded in Europe and focuses on providing services related to the trading, exchange, and storage of digital assets. At the same time, its AML policy states that the company operates in accordance with the laws of the Republic of Seychelles.
The platform reports the following metrics:
more than 150 digital assets;
over 200 trading pairs;
support for more than three national currencies;
daily trading volume of approximately $10 million.
The organizers claim that 96% of client assets are stored in cold wallets and that a WAF is used to protect against attacks. The homepage also mentions a 1,000 BTC insurance fund, partnerships with more than 50 market makers, and regular reserve audits, though no official confirmation is provided.
The company reports holding MSB and NFA licenses; however, document numbers and links to registry entries are not provided on the website. The page containing regulatory information lacks details about the legal entity and the licenses issued to it.
Cryptocurrency selection on Xylobit
According to the exchange, more than 150 cryptocurrencies are available for trading, grouped into over 200 pairs. USDT is primarily used as the quoted asset.
The platform features:
Bitcoin;
Ethereum;
BNB;
Solana;
XRP;
Dogecoin;
Toncoin;
TRON;
Litecoin;
Cardano;
Tether; and other digital assets.
In the Markets section, you can track current coin prices, price changes, and trading volume.
Services and fees of Xylobit
The platform offers a variety of methods for raising capital. Customers also have access to:
spot and margin trading,
perpetual futures settled in USDT,
P2P transactions,
fast digital asset swaps,
perpetual contracts,
leverage of up to 1:200 is available.
staking;
crypto loans;
purchasing assets with fiat currency;
bank transfers;
a referral program;
token listings;
trading tournaments;
services for corporate clients.
The standard commission for a trade is 0.1%. The rate may vary for certain pairs; however, according to the website, it does not exceed this value. A daily fee of 0.078% is charged for the use of borrowed funds in margin trading and lending.
Creating a personal account and verification on xylobit.com
To register, you must provide an email address and create a password. In accordance with our AML/KYC policy, access to our services is granted after your identity has been verified.
Deposits and withdrawals with Xylobit
You can fund your account with digital assets, via bank transfer, or with a bank card. A P2P platform is available for purchasing cryptocurrency using local payment methods. The website also states that it supports fiat gateways for U.S. dollars and euros and allows withdrawals of these currencies to Visa and Mastercard cards.
The minimum deposit amount depends on the selected asset; for example, 50 coins for USDT and USDC.
The deposit fee for most of the listed cryptocurrencies is stated as zero. The withdrawal fee is calculated based on blockchain conditions and the asset’s value.
Conclusion about Xylobit
Information regarding the project’s place of incorporation and jurisdiction is ambiguous: the website states that the exchange was launched in Europe, while the AML policy indicates that it operates under the laws of the Seychelles. Additionally, the full name of the legal entity, the registered address, and the numbers of the claimed MSB and NFA licenses are missing. Before opening an account, it is recommended to verify the platform’s legal status, review the terms and conditions for financial transactions, and read reviews of Xylobit on independent websites.
