Bitcoin Forum

Greetings,

Today, we would like to announce xCoins.io, a more efficient and simple way to make money with bitcoin.

https://xcoins.io

There are several peer-to-peer bitcoin trading platforms, where bitcoin sellers earn high premiums for exchanging bitcoin for dollars. The main advantage of xCoins is its speed and simplicity.

xCoins is an automated system. We also perform all required user verification and pre-transaction and post-transaction support. The process is 100% hands free. Investors can earn money by simply depositing bitcoin and hitting start.

Main Features

• 100% automated
• Flexibility: set your own commissions, limits, ranges, ratings and more
• We do approvals & support

High Earnings

Investors earn 15% - 30% per each transaction.

Other Advantages

- No arbitration! Payments are tracked automatically. There is never a question about whether or not someone made a payment or sent bitcoin.

- High volume. Users, who receive bitcoin, love the system, because of its speed, simplicity, and reliability. Investors are able to quickly turn large amounts.

- Reliability and fast support. xCoins is a US-based website, hosted on Amazon AWS with stellar uptime. We respond to most inquires within 24 hours.

Easy to Start

There is no special knowledge required to use the system. Investors can begin with as little as $20 to see how it works.

For more details, visit:

https://xcoins.io/investors

Sincerely,

The xCoins Team
https://xcoins.io

So it require to deposit money first to get paid? Mean it is just an hype type of site and possibly a ponzi site.
all these type of sites I've used before scammed me. they require you to invest some money and give you some interest on daily or monthly bases, but at the time they don't pay.

what is the specialty of your site?

Their specialty is to scam nothing else more and how could they give 15-30% generate commision in their site are they selling gold? Selling real estate? Or anything have cost and make them a lot of money. And this thing is surely one of the existing fraud attemp here so we'd better be more aware and stay out of this scheme.

No, we do not pay you interest. Each transaction is similar to trading bitcoin over the counter. You make the "spread," as you would at an exchange. Except, the spread at our site is 15% - 30%. People, who need bitcoin, pay that much for convenience, because they need it quickly.

So, people pay to you directly. The process is:

1) Someone makes a payment to you directly for the amount of bitcoin plus the spread.
2) You give them bitcoin.
3) You keep the difference in price.

There are actually a few sites like that, and people have been making a lot on them for the last couple of years with OTC trading. The difference with ours is the automated process. The transactions are not manual.

This is a purely bitcoin operation. The value for end users is being able to receive bitcoin quickly/instantly. The value for you is to earn transaction fees.

We do not handle your money either. When you sign up, you enter your PayPal address. We quickly check that your PayPal account supports the payment methods that are needed. Then, the money in dollars is paid directly to your PayPal account by people, who receive bitcoin from you. The process is completely transparent.

Your money does not go through us. We do not even have access to your PayPal account. People pay to you directly.

The official press release on CoinDesk:

http://www.coindesk.com/press-releases/xcoins-io-automates-process-making-money-bitcoin/

Why would anyone pay 30% premium on Bitcoin price when it s quite easy to get BTC anywhere nowadays. Cant believe you can find suckers for this operation.

Hi crazyivan,

It is true that there are many sites, where one can get bitcoin. Few of them are truly instant though. Some do advertise that they are "instant," but they usually mean "instant" after you do "this" and perform "that."

We offer a truly instant process of getting bitcoin. A user makes a payment with credit card or whatever, and the bitcoin is in their wallet. That's it! A user does not need to look through offers, negotiate a price, or take selfies and ID photos for each seller.

If you want to earn on our site though, I would not expect to make 30% every time. A typical commission is closer to 15%. Although, some investors do have a strategy of setting 20% - 30%, which only gets triggered, when there are supply shortages.

I have tried it and so far so good. I think they must have a surge of lenders. It's been tough loaning my btc. but the transactions have been instant payment to my paypal account.

Yes, we had an unusual influx of investors, because of the post on CoinDesk. But, most are just trying the system with only a few BTC. We expect things to go back to normal within a couple of days.

How do you handle charge backs and fraud?  What if the "borrower" uses a stolen credit card or hacked PayPal account?  Your FAQ entry regarding this question is inadequate:


How on Earth does calling the transaction a "loan" solve charge back and fraud issues?  What if the borrower simply does not return the bitcoin after the chargeback?  Ah, I see:


You should also add "After enough payment reversals you might also expect PayPal to cancel your account"

This is a very interesting tidbit:


Here is the crux issue:


By charging the "borrowers" 15% plus your "loan origination fee" [It can be 5% of the loan amount or higher] plus 2.9% plus $0.30 for the bitcoins you almost guarantee that the only people to use this service as a "borrower" will be scammers who will most certainly use stolen credit cards, stolen identities, and hacked PayPal accounts.  In this case I will lose my Bitcoin, all fiat funds will be clawed back up to a year after the transaction and, as an "investor", I will almost certainly lose everything.

15-30% per transaction ? You lying. -_- If you could do that your would offer us 1% and take the rest. How can you pay 15 - 20 % also then make money for yourself ? It cannot be. Another very new account that you have. It has at least comments.

"Lying??" There are plenty of peer-to-peer bitcoin trading sites, where one can sell bitcoin at high premium of 15%+ over the spot rate. And, yes, the trader gets to keep the bulk of the proceeds, not the trading platform. Actually, kind of surprised you haven't heard of them.

The difference with ours is the automated hands free process. We do the approvals, support, and payment tracking. So, it is less manual work for the investors.

We now have a lot of satisfied investors!

BurtW, to answer your question, fraud is always a concern. But, we do not get a lot of incidences of people, who pay with stolen credit cards or hacked PayPal accounts. We are very good at screening all of them out. We do have some incidences of "friendly fraud," people who use their own card, but then fraudulently report the payment as unauthorized to their credit card company.

We use third party consumer data vendors and blacklist databases to screen for friendly fraud risks. We have also developed effective procedures for disputing chargebacks with credit card companies and have a good win rate.

Our investors do not lose money. Average profit margins (their interest fees less chargebacks) are usually 80%+, which we think is very good.

We also have a profit margin guarantee for our investors. If their profit margin drops below 50%, we pay for their chargebacks! We offer it, because we are confident in our ability to keep the fraud percentage low.

By reading op i thought it was some kind of trading platform where users can trade bitcoins but your homepage gives entirly different idea.there is no mention of it anywhere on your homepage about trading or how and where to invest.It come across as simple bitcoin wallet

If you read the whole site and this whole thread it is pretty obvious what they are doing.  You just did not bother to read any of it.

But, of course, you are not really interested in anything here - you are just spamming crap for your signature campaign.  Prove me wrong.  Read the thread, visit their site, come back with something interesting and constructive to say.

Also, learn to spell.

Why is that?

In the case of fraud a credit card can charge back the funds received up to one year after the transaction.

Unless we find a buyer,where will our bitcoins be kept? Will we have to submit our bitcoins to your site before posting a sell order?
How is buyer protected if he pays directly to seller and seller,in turn,doesn't send him bitcoin?Do you escrow in all transactions?

Once Bitcoins are deposited in a Xcoins wallet, you're able to set the types of offers you're willing to make (i.e. loans up to $100 worth of bitcoins at 15% interest) There is a also a parameter to let you set a required "level of trustworthiness" of the borrower, but i am not sure what it specifically means.
 
The rest is automated. When the system finds a match, a transaction is made upon approval of payment. Yes, there are potential chargebacks, and according to posts on their forum, it does happen often. But hey, isn't it normal that such high margins commands a fair amount of risk?

The one thing that I find more bothersome is the lack of transparency on the company itself. Apart from a press release, there is very little to no information on xcoins or who's behind it.


 

It does actually work... but it's not perfect yet.

I've been using xCoins for nearly a month now and I've cashed out profit. It's a pretty good system - you can fully automate your "lending" (read: selling) with minimal effort for around 15% ROI on all BTC passed through the system.

Charge-backs are indeed an issue and can wipe out your profits. However, as mentioned above, xCoins have recently introduced a scheme where they automatically cover all losses due to charge-backs/fraud until you are back to at least 50% profit. This can be considered insurance, designed to cover any early stage lenders who are unlucky enough to hit get with a charge-back early on, prior to making much profit. xCoins say most people who have been using the system for a while are in profit anyway as the CB rate is relatively low.

Other risks include PayPal closing your account due to "high risk" activities. This risk is decreasing with time, I think, as PP now has relationships with Coinbase etc. now and seem to be softening their stance on BTC. Still, it's recommended to start lending in low volumes, and slowly increase it so as not to raise flags/alarms. Also, don't withdraw big sums from PP immediately - always leave enough $ in the PP account to cover possible CBs - this will goes some way to re-assuring PP.

I know that it is a top priority of xCoins to find another payment processor that is more BTC friendly and doesn't allow CBs (or at least provides decent seller protection), but in the meantime 15% ROI on all BTC that you sell via xCoins is likely worth the risks.

Finally... counter-party risk. As always, don't store lots coins on the exchange. Transfer a small amount of BTC and start lending. Replenish balance when empty.



TLDR:
xCoins seems legit, and there's potential for an easy profit - but start with small volumes, assess the risk/reward ratio, read the forums and decide for yourself.

Oh, and use the following promotion code when joining up for up to 25% discount off all commission fees: jbh184 ;D

I love this site and it has not been faulty in anyway! For 2 months straight, every amount i have put in has paid 15% to my Paypal.  Thank you for providing a service to generate extra income for me and my family. Thank you! I would also like to tell the people above who comment without knowledge of the product to do some research before saying something is a scam!

Used xcoins many times without issue until I had an issue with one order where I paid and nothing happened. Contacted support and they responded quickly saying I should contact PayPal as the order didn't go through. Okay! I did that and PayPal says it did go through. That was 6 days ago. I have no money and no bitcoins. Terrible customer support. Do not use this site! I am about to report them to every legal authority I can. Scammers!

Looking for a company that can provide this service.
Was just about to use this service but after seeing the last reviewer and his experience now I thinking i will not right now.

This seems really fishy be aware guys!  ::)

Well this does provide more info but I d like to hear more reviews from people who have tested this service. Especially from people with higher trust and post count. Nothing against you personally but I have my doubts when reading stuff from people who re still relatively green in crypto. So, anyone else who s been using this? Images? Proof?

Date   Site Transaction #:           PayPal Payment ID:   Paid2PayPal:  Purchase    Bitcoin Paid:   Profit:
                     
09/23/16   CYBUKGNN4H      89S45048XT658210N   $12.92   $10.00       0.01798922        $1.50
09/30/16   LAGJB9J2Y4   Noelle     0XG29860A4006022E    $20.49   $16.00       0.0283969        $2.40
09/30/16   Y7JY5REZTK           35418514LH368245N    $56.30   $44.38   0.07821504      $6.66
10/01/16   E5IF4TPT3W           0CA49768B1743150Y   $63.39   $50.00   0.0875507        $7.50
10/03/16   4K2C28LXNR       0BS39368KT402160Y    $50.77   $40.00   0.07043291      $6.00
10/03/16   HST6EVEE8G           26K18565AP016012N    $44.47   $35.00   0.06173093        $5.25
10/03/16   FUPOWQGI9D           02C203536K346831R    $45.73   $36.00   0.06334293        $5.40
10/03/16   O3TRHLHKNJ      3AN90351G7393082W    $31.84   $25.00   0.04395002        $3.75
10/03/16   6AIU8XUMV4       63W81688J86635311    $38.16   $30.00   0.05280998        $4.50
10/04/16   J68PZAITRE                   19U51794C7946150J    $38.16   $30.00   0.05307244        $4.50
10/04/16   H97WWR9UVJ       1VU04504KS008824A    $126.47   $100.00   0.17684702      $15.00
10/04/16   LU1OC1K9JU      423941954C700813S    $24.28   $19.00   0.03363857        $2.85
10/13/16   GM6T5X1FU0           46W9416940128753P    $31.84   $25.00   0.04231017        $3.75
10/13/16   5CFCP9JPMN           2BY58305PC0941449    $12.92   $10.00   0.01692407        $1.50
10/13/16   9AM2VVZQQ1           6WJ98356TB390733C   $50.77   $40.00   0.06762708        $6.00
10/13/16   DIGRCNST5Z           8NU78120EV264101A    $19.24   $15.00   0.02545665        $2.25
10/13/16   OS0RDMXL4J           2M2108989P2705057    $63.39   $50.00   0.08458573        $7.50
10/13/16   CETTVJ4QW2      1SA0979483131553X    $25.86   $20.25   0.03423675        $3.04
10/13/16   DUHJQHVUQP      1N385045HB699132K    $76.00   $60.00   0.10144221        $9.00
10/13/16   G9BISODNJC      45T07579CP3174733    $43.95   $34.60   0.05855359        $5.19
10/14/16   VFCY60F4TG      5GD330905V4800815    $63.39   $50.00   0.08477918        $7.50
10/14/16   OQOZ6O3NER      5RV9930563929913H    $12.92   $10.00   0.01696173        $1.50
10/14/16   2FLNZK2N5L      1UB40667S0926000T    $101.24   $80.00   0.13412351        $12.00
10/15/16   1GTG7PVL4I      2RG70340WR2993908    $40.68   $32.00   0.0537584        $4.80
10/15/16   OKT73K0CRZ      6YS53796X3328053K    $151.70   $120.00   0.2019443        $18.00
10/15/16   T20NODFTXN      29T31588YW3555354    $12.92   $10.00   0.01688685        $1.50
10/18/16   1PTB7YIQEZ      7EB25905HH128561E    $19.24   $15.00   0.0253937        $2.25
10/19/16   KCAASCXW7V      9GU29007PV788340D    $38.16   $30.00   0.0507874        $4.50
10/19/16   DWDK0VLQS4      9SP883140D477301E    $33.11   $26.00   0.04465569        $3.90
10/19/16   BKGLMOL2D7      56711569HT323782U    $12.92   $10.00   0.01688924        $1.50
10/19/16   KT2AHY15FP      65E57038WV8450813    $50.77   $40.00   0.0685401        $6.00
10/19/16   FCOQ5YSIQ4      6HS87002SY6316428    $82.31   $65.00   0.11126947        $9.75
10/19/16   2MTTV962L6      25H506807V757490D    $31.84   $25.00   0.04279527        $3.75
10/19/16   T8UH2JEJY3      6DM23982RD721510Y    $31.85   $25.00   0.04292925        $3.75
                     
                     
                                                            $1,560.00   $1,228.23   2.110827        $184.24

Here is my transactions without any problems.  Im glad people are staying away!  More sales for me :)

I understand that you may not trust my review, no offence taken. It's true that I don't have a high post count. However, I've been a member/lurker here for nearly 3 years now and I bought my first Bitcoin 4 years ago, so I'm not exactly "green", but nor am I a grizzled old veteran. I just don't post unless I feel I can contribute (there is far too much white noise on this site). I'm linking a screen grab of some of my xCoins transactions - perhaps that may suffice to convince you that I'm not a shill.

http://imgur.com/a/SbAXg (http://imgur.com/a/SbAXg)

Anyway, bear in mind that I'm not necessarily recommending xcoins.io, but my experience has been mostly positive (I've been luckier than some). Also, I'm more knowledgeable about this platform than most, as I'm an active lender and member of both the private lenders forums and chat channels. Personally, I'm convinced it's not a scam site, but it is new and it is not yet as professional as it could be.

As I mentioned before, there are several obvious risks involved, so, as always, do your due diligence. xCoins fees are higher than you may be used to (as I said, you can use the promotion code jbh184 on registration to mitigate this). Also, customer service at xCoins is definitely lacking; xCoins seem to be under-staffed in that department, but they seem to be trying pretty hard and the system is mostly automated and effortless (when it works as it should).

The poster above who claims it is a scam is 100% wrong - that incident is most likely a result of poor customer service, not intentional fraud, and that poster is just frustrated and venting. There are no genuine incidents of fraud that I'm aware of (and I'm paying close attention - my money is at risk). I don't blame the poster though, there definitely have been periods lasting for several days with no word from customer support. Usually, they come back and launch a new feature they have been working on, then they deal with the outstanding support issues (hardly an ideal way of doing business). However, I opened a support ticket today and had a response within 30 mins, so things seem to be improving.

Hope this all helps a little.

I second this post.  This service rocks, but like has already been said, it has occasional glitches, but is definitely not a scam

Just to clarify this.... I mean that I've encountered no incidences of fraud by xCoins.io. There are indeed incidences of scammers looking to steal Bitcoin by initiating a dispute with PayPal after receiving their BTC to try get their $ back through charge-backs. However, the buyer verification process on xCoins is pretty good.

It appears that PayPal accept the evidence package provided by xCoins (photo ID, digitally signed contract, blockchain transaction details etc) and sides with the seller in many of the disputes. Whether the scammer wins or loses the dispute, they will be banned permanently from xCoins and will probably have their PayPal account flagged as a potential fraudster, thereby limiting their chances in future. Occasionally a report will be filed with local police/authorities and legal proceedings may ensue. All this helps to make the platform unattractive to fraudsters, as I don't think they can do well at xCoins, and results in an acceptably low (personal opinion) charge-back rate. It will happen though. xCoins will refund some of the disputes that you lose (as part of their 50% profit margin guarantee program), but sellers need to consider the implications of this.

For buyers, there is almost no risk IMO. Buyers pay by convenient methods such as credit card or PayPal. xCoins acts as an escrow service - once the seller receives the PayPal payment, xCoins releases the Bitcoin. The lender cannot prevent this and it is mostly automated (the funds are generally captured automatically in PayPal and the BTC released). This makes the system particularly safe for buyers.

I believe it was because the seller did not manually release from PayPal.  I told him to send an email to the seller.  Haven't heard back from him so maybe that was it! :)

Interesting service, might check it out. The whole chargeback thing worries me though.

Has anyone had to deal with a charge back that can detail the steps they took to win the case as an investor?

Yeah you made it right. It is high advisable that one shoud avoid all this kind of ponzi schemes because they are very professional in the way they create things that will convince you they are really hiding themselves from not showing that they are fake. It is good to make a very wise thinking before you consider them.

I've asked many users that question myself. Usually they describe following exactly the same process (i.e. using the same email template response and providing the same package of evidence), but with completely different outcomes. I've heard of some people winning all their disputes and others losing all theirs.

PayPal seems to be very inconsistent on these matters. It appears it may be dependent on which rep you get. However, I also expect that there are other variables that make a big difference, such as how long you have had the PayPal account and whether your account just displayed a massive spike in volume (do not let that happen).

Hmm. No offence, but it appears you don't really know what xCoins is. Or what a Ponzi scheme is.

15-30% -_-
Ya that is going to happen.
It is more like 1-3% which is alot as well.
Otherwise pm me and prove me wrong. Lets see some facts and figures here son.
I see no reason for you to just keep my bitcoin and I never see or hear from you again. How must I trust your website? Why should I ?

In what way does it seem to be an unreliable way to buy bitcoins?
There is alot of proofs posted that show their claims that this is an efficient way to purchase using a peer to peer method of doing it at a not so high rate.

My situation was FINALLY resolved yesterday. The site is decent. It just has a few bugs and flaws. I can recommend it, I suppose!

Lol @ all the shill accounts saying how great this is without even giving any info about the  investment just blethering on about its greatness. We all know this is crap and no ammoint of shilling is going to change that fact. But you do try at least so I give you that.

Not sure if that guy considers me a shill, but I don't care. Definitely not a shill. Definitely not recommending this site, either. It is absolutely terrible. I am now having a different problem and they are ridiculously unhelpful. I expect it to take 2 weeks to fix this problem as well and that is insane. I can't withdraw my coins! :/

How does this service actually work? If you buy with paypal I thought you get to send the coins that you bought to any address. It sounds like you have to send it to the account wallet then you will be able to withdraw them from there is what I am getting from the above poster.

Paypal has Charge Backs and how do you handle the price fluctuations and differences every minute or seconds? Would you be able to make a profit?

Yep. It is not sent to the wallet you want it sent to. It is sent to an account wallet, then you withdraw it from there. My problem is STILL not fixed and will likely take 2 weeks again. Hate this site so much right now.

PayPal allows chargebacks, true. Often they resolve the dispute in the seller's favor. Sometimes this is automatic (i.e. requiring no input from the seller) and sometimes it is necessary for the seller to present the digitally signed contract and photo ID of the buyer. It does happen that the buyer (read "scammer") wins the dispute. In this case, the 50% profit guarantee program kicks in, the seller is reimbursed (up to a point) and the fraudulent buyer is perma-banned from xCoins. It is impossible to eliminate charge-backs using the current system, but the risks can be managed.

Regarding price fluctations, unless the price moves by >15%* between when you buy and when you sell, you profit. Best to think of this as an arbitrage system - I would recommend users pay at least some attention to what's happening and maybe keep enough $ on an exchange to re-purchase what you sell.

* I say 15%, but in reality, due to fees and commissions, your profit will be a little lower. You can use this promotional code when signing up to reduce your fees: hel7ly

Hope this helps a little.... happy to answer any other questions if I can....

That's very annoying - sorry to hear you've had to put up with all that hassle. The system works so well.... until it doesn't. Then you have to deal with xCoins support, which can take days. It appears, since they are a new platform, they are mainly focusing on buyer vetting and feature development, but leaving themselves understaffed in the support department. Not a good idea if you want to retain customers, but you'll get your issue resolved. In my experience, everyone does (eventually).

Well, I tried them and havent had one glitch. Now using their service exclusivly. Over 30 Buyers in a week... not one chargeback, I had an ebay auction where every buyer was fraudulent and ebay still charged me $160 for the listing. You can literally buy bitcoin at markey value, deposit it and make 15% in a day or 2. I see a few users in the forum complaining about a few things but I think there are many more happy customers.

How do you make profit just by depositing bitcoins and keeping your fingers crossed? Sounds too good to be true.

Yes, definitely I have some questions about this service. Which is more interesting it seems that almost everyone who tested this service are newbies.
Literally, there is no one with higher forum status to post any kind of review or opinion about this service. Weird.
I am not gonna try Xcoins now - I will wait, if this service will survive +1 year I will take my chances with it.

A fairly new system like this it is best to wait for a year just as you subscribe to do especially when it has to do with paypal. Charge backs can be done up to 6 months so why risk it with a business that has been around for 3 months? :-\  Since late July/August I believe.

I actually joined this site to discuss xCoins.io, so my account is indeed new. I also want to disclose that I like the xCoins platform and I wish them success for trying something new and innovative. Therefore take that into account when considering the value of my advice and comments about the platform. However, none of that should actually matter, because you can (and should) independently fact-check my points below.

If you are interested, try it out with a very small amount of BTC and be clear in your mind about the risks. If you know the risks, it is actually quite safe to try it out.



The risks (for sellers only) that would have the most serious outcomes are:

xCoins exit scam: running off with your balance.
Always a possibility with any new site. Never keep a significant balance at xCoins. Transfer small amounts, sell, repeat.

xCoins exit scam: Huge influx of chargebacks initiated by xCoins.
Highly unlikely, probably impossible IMO. This would require all buyers to be either fakes or acting in unison with xCoins. Lenders actually get photos and IDs of the borrowers. It would be difficult to create fake people that on that scale.



Other risks include:
Occasional chargebacks from fraudulent buyers.
This happens, no avoiding it. Just the cost of doing business. Factor it into your profits. Scammers who make it through the vetting process get perma-banned once they try this. You will win some PayPal cases and lose some.

PayPal closing your account
Again, this happens to some users and is one of the biggest concerns. Try to avoid spikes in volume passing through PayPal. There are ways of reducing this risk, so make sure you read up on them before lending. xCoins are implementing alternative payment processors soon though, so this will no longer be an issue, I hope.



For buyers, there are almost no risks. You pay and receive your BTC to your wallet quickly. Since this is irreversible, you are particularly safe. The only issue is when the BTC are not automatically released due to a bug/glitch. This happens some times (you hear about it on the forums), and is always resolved. Sometimes this takes a while; xCoins is a new platform and support can be frustratingly slow at times.

This is the result of my experiences on the platform so far and I think covers it (though I may have missed something). I'm happy to answer any other questions that you may have.



If you think any this has helped you, feel free to tip or use the promotional code hel7ly when registering at https://xcoins.io/?r=hel7ly (https://xcoins.io/?r=hel7ly)

This still working?

Yup

Where is the owner or PR staff of the xcoins.io ?
They sure had a lot of people asking, but no one's coming here to clarify .-.

Seems fishy

I don't think they visit here very often. Their PR staff don't seem to be very active online and I get the impression that most of their efforts are going into development. You can read all the good and bad stuff from users on various online forums, including the xCoins user forum: https://xcoins.io/forum/ (https://xcoins.io/forum/)

One thing I do know, however, is that they are implementing a new payment processor very soon as an alternative to PayPal. As I understand it, you will be able to use either or both processors to cash-out your earnings. I'm not a big fan of PayPal, so this is good news to me.

But how do i know if the members in their forums are not fake accounts of their staff or something like that ?
Maybe they pay people or smth else .-.

I guess you don't know for sure, just the same as you shouldn't really trust anything you read online. But I don't see why that matters. What you're looking for is info. You can get some info there (and elsewhere) and make your decisions. Even if someone misleads you, you're only risking what you hold on the platform at any given time (see my post above). Buy 0.1 BTC with your credit card and withdraw it to your wallet. Or transfer 0.1 BTC, sell it and bank your profit. At the end of your first transaction, you will have a balance of 0 on xCoins.

That way, you'll see how it works and you only risk 0.1 BTC. Then, you can decide whether you should continue. This is exactly how I started on the platform, and I've done a few $K in volume now with no problems so far (though like I say, I've been lucky).

I use Xcoins and make exactly what they claim, 15% on any amount I deposit. I have been using it for 3 months now. I keep my selling limits at $50 and have not had one chargeback. You can have more than one offer running at a time depending on how much you have to sell. I literally buy bitcoin and turn around deposit it and within 2 days or so I get the payments in my paypal account. Its completly legitimate. I see in the forums people having chargeback issues so I guess the scammers dont want to lose their opportunity over $50. I have even made $31 on referrals.

I previously had nothing but problems on ebay with literally 95% unauthorized users.

You have the choice to choose what level of borrower you choose to sell to 1-5 5 Being the highest so I stick to that now. I have sold most of my bitcoin at level 1, I think it moves faster but not entirely sure about that. You put yourself at more of a risk but it hasent caused me any problems.

I recommend anyone that wants to test what Im saying to do a simple $20 deposit and see for yourself. Follow my advice and it will be very unlikly you will have any issues with chargebacks etc.

To be a lender you dont need to give any verification, you just sign up with name and email, they dont verify lenders, deposit your bitcoin to a wallet address they supply you with upon joining. You add your paypal address and wait for the $, it is as simple as that.

One note - When the payment comes thru they inform you in your account wether to capture the payment if necessary, or they tell you to wait. Usually it all goes thru without you needing to do anything. From my experience, if you follow their simple guidelines you shouldnt have any issues.


Below is a copy/paste directly from my account stats. Ill provide an image if anyone would like to see one.

I hope this helps shed some light on the whole process. I have actually begun to promote the service on my website also. (hence the $31 I made on referrals)

There have been days when I didnt get one sale but it always cleans me out within a week. I ususally deposit about $200 at a time, you can deposit any amount but the lowest your account can go is $20.

Lending volume   $1,075.29   100.00%
Interest fees   $161.29   15.00%
PayPal reversals   –   
PayPal reversal fees   –   
Refunds   –   
Net profit   $161.29   15.00%
Profit margin      100.00%

No specialty ? I assume OP has one more specialty other than scam, probably he also own a Golden Hen which gives everyday 2-3 Golden eggs? Or maybe he has a magical money tree in his gardan that generates 50-70% return but he gives us only 15%-30%  >:( Sad.

Im confused by what the question is?

All you do is deposit btc to your wallet then you get $ in your paypal for the amount plus the fee they charge the borrower. The 15% comes from the fee's they add. its very simple nothing ponzi about it.

I have no affiliation with them other than being a lender. But ill gladly try to explain anything I understand about it.

Yeah, I get the impression you haven't tried the site and are uninformed regarding how this business model works. However, if you were to spend an hour reading up on it, you would gain some insight into why it is possible to sell Bitcoin above spot price (hint: ebay, localbitcoins).

While everyone is entitled to an opinion, I usually wait until I have a little information before I comment. Up to that point, I generally ask questions - that way I can get to the point where I can form a coherent, informed opinion which I'm not embarrassed to share. But, again, that's just me....  ;)

To be honest, the only real downside to this platform is the support response time, which is truly dismal. Do not start trading on this site and expect your issues to be dealt with in a timely manner, because it's unlikely that they will be. However, there is a decent user community who are generally willing to assist and advise newbies.

Edit 1: BTW, it is only possible to consistently get a 15% premium (which is the minimum) as a seller - the competition of rates means that, in reality, anything above 15% is not realistically achievable.
Edit 2: Sorry about the smart-ass tone, I just dislike unhelpful, uninformed and troll-ish comments.... must try to be more patient in future :)




You can use this promotional code when signing up to https://xcoins.io/?r=jbh184 to get reduced fees: jbh184

This is Ponzi you know. It is dangerous for me to have a definite profit.
This is not my style. If the winners are happy.

If this is a Ponzi, then so is Localbitcoins. It's actually a very similar business model.

I encountered this site very early in my Bitcoin journey (which obviously wasn't long ago).

At that time I was looking to buy. I chose not to because I wasn't in a hurry and I am a cheapskate (Coinbase is 1/10 the price if you are willing to wait a week).

I later considered it again as a seller/lender. My biggest concern is that selling bitcoin violates Paypal's TOS.

If you take payments from buyers they consider it operating a money exchange, and that isn't permitted. Coinbase can do it because when you use coinbase you are not soliciting customers, you are selling to a business who is in that business. That is why Coinbase will pay out in Paypal, but doesn't accept Paypal for deposits.

I would use this site gladly if they made one of two changes:
 1) switched to a seller friendly processor for outgoing payments; or
 2) If they became an intermediary in the paypal transaction (i.e. the customer pays them and they pay you).

Jacob

Thanks for sharing that info.

A few answers that you may find helpful....

1. Their accounting is actually correct, but only from their perspective. There's a reason for it, but it seems backwards from a user perspective though and confused me at first.

Their maths goes like this: (Amount USD - xCoins fee) x % profit margin = Your profit (lenders fee)
After that they add the PayPal fees to get the total USD amount that is sent to your PayPal account.

2. I don't think that they vet the sellers. There's no real need other then standard KYC (BTC transfers are irreversible).

3. That's unusual. Check your BTC balance to see if your account was debited. The buyer may have cancelled the transaction.

To ALL

really instantly buy Bitcoin with PayPal balance?

Yes. Or you can use your credit/debit card if you prefer.

Not cool, I'm hit with someone who's trying to pull a reversal. :-\  
"Under review" from Paypal but I think there's no hope of winning, even with what Xcoins provide (text + proof of delivery). Paypal doesn't like digital "stuff".  
I can try to contact directly the buyer but I'll just wait for the moment.

Lending volume   $411.66   100.00%
Interest fees   $52.00   12.63%
PayPal reversals   $-65.00   -15.79%
PayPal reversal fees   $-20.00   -4.86%
Refunds   –   
Net profit   $-33.00   -8.02%  

So yes, be careful people, you can lose. 
What do you guys do to avoid that ?

Im not sure I understand what this service is. I am new to the service section by the way.

But to me, it seems like you deposit money and let it grow over time? Almost like a loan?

Would love if you explained how it works and why it is trustworthy, Thanks! ;D

Ye I'm interested too. If we can buy btc with paypal it would be awesome

Basically, it's like selling on localbitcoins but it's automated and they try to deter scammer buyers and "support" sellers. Xcoins takes care of verifying users and their engine matches buyers and sellers.
If you guys join, you can use my code : yypjxv 
It would be great though if they could use a more bitcoin friendly processor.

What kind of anti-fraud practices have you set in order to combat fraudulent purchases such as credit-card fraud which targets tons of these paypal, credit card exchange sites and I personally think their is little you can do to fight it.

But, I'd like to hear what you have to say about it.

Buyers have to upload their ID, kinda like the KYC practices of exchanges. After that, sellers can also filter buyers by "levels", the highest level being a buyer than never did a reversal or something like that for a while. Xcoins also normally ban bad buyers for life. 
By the way, the person that tried to claim back money as been rejected by Paypal. So I won ! Back to profit :).

Unfortunately this service is just support for Paypal
the problem with Paypal not all of users use it and
supports of Paypal are bad  this service is not suitable for me
except the owners supports for skrill and netteler.

You can ignore the borrowing/lending wording in the FAQ. I'm pretty sure that is just semantics to avoid regulatory issues.
It is a little unclear from the FAQ, but what really happens is as follows:

1. The seller transfers BTC to their xCoins wallet and select what margin % they are willing to sell for
2. Verified buyers purchase via credit card from sellers (the system matches buyers & sellers)
3. The $ arrive in the sellers PayPal account and signals (via API) that this event has occurred, then...
4. The BTC is released to the buyer

So xCoins essentially acts as a facilitator/verifier/escrow service. Sellers make profit by cycling their BTC through the system for a profit each time, not by earning 'interest'. You must be able to buy BTC elsewhere cheaper to make this work for you....

There are some issues with the system, e.g. if selling, expect to deal with charge-backs occasionally. However, I have won most CB attempts, since it is pretty obvious when someone is trying to scam you (and you have the verification documents). Scammers get banned instantly too, so I doubt it's profitable for them to try (there are much softer targets out there in the cryptosphere), but you'll always get some idiots who try it anyway. There are other issues you may encounter, but, for the sake of brevity, I will not detail them here, so read the forums etc first, as you should not go into this blind or you will have problems.

For buyers, the system is pretty much risk free and, because of the automation, is simple and quick to use. It is quite possibly the easiest place around to purchase BTC with credit card quickly.

Hope this helps clarify the model used. I've been a user for many months now and I know the system well by now, so feel free to ask any other questions you may have and I'll try to help....

Also, if you are signing up, you can use this promo registration code: hel7ly

...or this link: https://xcoins.io/?hel7ly

I have had a few charge backs nothing serious, about 3%

Lending volume    $1,094.35    100.00%
Interest fees    $158.90    14.52%
PayPal reversals    $-35.00    -3.20%
PayPal reversal fees    $-40.00    -3.66%
Refunds    –    
Net profit    $83.90    7.67%
Profit margin       52.80%

So far so good im liking this service =)

u can use code above or f7doeq =P

These are my current stats:

https://i.imgur.com/sFfDQVr.png

Have around 64 transactions. 0 Chargebacks so far.

I would recommend everyone to NEVER do big amounts on a single transaction.

You should set Lending Offers and remove Rating 1. You don't want to deal with new Rating 1 borrowers. Just remove it from the page.
Only deal with Rating 2, Rating 3, 4 and 5.

My Lending Limits:

https://i.imgur.com/77FCQo8.png


You should pretty much expect chargebacks only from persons aged between 12-25 years old (damn kids with mum&dad's credit card & PP account).

I highly doubt that a decent mature person would do a chargeback after he received his Bitcoins. A couple of borrowers are aged well over the age of 40 years old. Even had a 70 years old lady due to her ID picture. Those are decent borrowers.

Here's my suggestion:

There would be a great idea if xCoins made it possible so that we can choose with who we are dealing with first before we accept them as borrowers. It would be nice for the Lenders to first receive a picture of the face of the borrower and if he's just a kid and/or looks sketchy in any way, you should be able to decline him as a borrower. I believe this would help and prevent alot of chargebacks, if we can see and choose the one that we're dealing with. This should be available only for the Lender. It's just an idea.

Well this is a good promotional segment to use because I was very hesitant to even try them out until now. Being over 8 months later right? To see how many chargebacks there would be initiated on a members account after using their service.
That was the only thing that kept me from trusting in their service cause of anything dealing with paypal and bitcoins you are taking a risk with and we all know this to be true!
You should be the poster child (man if your the age above 40 like you say are the one's who won't initiate a chargeback cause it is "their own account" and not mama or papa's) lol!

This business is not a ponzi by all standard but the only thing i dont like about them is the paypal as the only withdrwer method.
This business could go higher if they add another withdrawer method like payza, perfectmoney, okpay etc

Xcoins is usually a favorite for me, in spite of enormous fees, for the pure simplicity of the transactions. 
Today, darn it XCOINS I NEED YOU!
I have asked multiple times via Help Desk,
Try actually
looking at this one:


 Ticket #23-3268-8561 

 ???

Please address this ticket, it is minor but it is tacky to ignore me going on 24 hours.  You are my favorite Coin spot,  dont change my mind....


 

Their model of working is more like a ponzi.They may not have scammed anyone yet but there are lots of ponzi websites which are online for years and disappear when they stop getting new victims.

I beg to disagree with you because if you claim they are like ponzi then it means that all crypto exchangers are ponzi because they all have profits at the end of the day with is the difference between buying and selling of the currency.
To the best of my knowledge this exchange only give high difference to bitcoin holders because they are trading against a reversible currency.

The back image of my id has been rejected 10 times although the front image of me holding my id and a piece of paper with the date that i took with one hand  (very difficult to do btw) was accepted. They keep saying image is too blurry which it is not.
 Customer service is available by message only and replys within 24hrs not good.

Hey Guys,

It's been a while and just wanted to check in and say hello!

BITCOIN is at an ALL TIME HIGH!  Hope everyone has had a great week :)

Just stopping by to say that I've been using your site for over a month now and I've earned nearly $70 profit by having a volume of $450. I haven't had any paypal dispute at all so thanks I guess!

So it' been over 180 days ergo six months past the required amount to file dispute to anyone doing a transaction to paypal for any of these type of transactions thru the site.

Any one receive a mass amount of chargeback disputes from these they have 'lended' out to yet? :-\

xcoins should improve it's approval on the verification documents.
I've checked the borrower documents once out of curiosity, I couldn't even read his document on his selfie.
Doubt PayPal would accept as a proof something like that.

Hi xcoin-io let me ask about this

If how we can earn high earnings about this can you give more details?

Just confuse  about the affiliate page i just saw 20% and 5%? here https://xcoins.io/affiliates

@ LLec,

There have actually been only a nominal amount of chargebacks and our goal is to minimize them as much as we can.  Our Lenders are quite happy with their earnings.  

Security within our platform is tantamount, and is of utmost importance.  The the verification procedure of our new clients is an extensive process and one that we take very seriously.

The thing is when you are a lender at xCoins our 50% profit margin guarantee will ensure that despite chargebacks, if your profit margin dips below 50%, we will issue refunds to get your profit margin back up to 50%.

No where else on the web will you find such a guarantee, and that is just one of the things that makes xCoins special.

There are actually two ways to make money with xCoins.io, you can be a lender and earn a premium commission, or you can be an affiliate.

If you choose to become a lender with xCoins, the transaction commission is 15% for lenders, as that it the optimal amount for profit for lenders and it results in a higher number of transactions.  


If you choose to become an affiliate with xCoins

There are two commission percentages you can earn: direct & indirect.

Tier 1 = 20% commission that you receive for users referred to the site by you (direct)
Tier 2 = 5% commission that you receive for users referred to the site by your sub-affiliates (indirect)

We are getting more and more users everyday, and we are growing quickly.  If you want a passive, steady income stream, look no further! xCoins.io (http://xCoins.io)

Alright then. I will take in your word for it. :)


I will give you this suggestion.

Why not start a signature campaign so you can reach a broader audience towards your service?
Your prime customers are all here. ;D

I hate this site. Never using it again. Any kinks in the automated system and you have to deal with their atrocious customer support agents give you generic responses without reading your email. **** you xcoins! Useless!

Totally agree, see my post here, where I explained what I had to went through, and never actually get BTC nor my money back... https://bitcointalk.org/index.php?topic=1957904 (https://bitcointalk.org/index.php?topic=1957904)...

Scam scam scam >:(

Don't use this website, you won't get any profit! The only profit you will make is to make them richer and you poorer.

I don't see any profit on my Paypal account, my balance show $127 + $1.54 on my xCoins balance, where's my 15% profit?

You can take a look at my screenshots

https://i.imgur.com/F21qWJV.jpg
https://i.imgur.com/eYlNozx.jpg

It’s more of a exchange you are trying to run with not your own money, but others' !
Another alert which is triggered is your words "100% automated" this is next to impossible when it comes to the money being invested somewhere to gain profits.
What if your automated systems do not recognize a well conspired scam ?

Why I couldn't access your site properly from my mobile device. Not optimized for mobile users ?
The payment structure is too low considering the bandwidth one has to spend in playing games online. Do you really believe it will help anyone in the long run or anyone will be really earning from this ?

I'm not really interested in the service as I want to earn BTC from my BTC, and I can't do anything with dollars, however I'm wondering what kind of earnings we're talking about, on average ? Without doing all the affiliate thing that looks ponziesque to me.

My affiliate commissions have stopped updating since 6/25/2017 (almost a month). I have contacted support twice and had no response as of yet. I have 600 level 1 referrals and was receiving multiple commissions per day, so it is most likely an error with their affiliate tracking software. This is unfortunate because their affiliate program converts well and was earning decent commissions.

I would not advise promoting this program or using their services until it is fixed.

i'm surprising to discover now this lending platform
anyone know a thread with all lending platform? can link me this?
i think exist few lending platform, but i'm surprising to found another one

Exactly, it doesn't look like lending, just a peer to peer exchange.

A funny paragraph found on their website regarding sellers:
"You may convert PayPal funds to bitcoin at any bitcoin exchange. Contact us, if you need help with finding exchanges. It is easy to get started. A lender may begin with as little as $20.00 worth of bitcoin."
So a seller who sold bitcoin for PayPal is advised to use another exchange in order to get bitcoin again.

Any updates till this day? Have your referral commissions went back to normal or is it still unfixed on xcoin's end?

My query is why xcoins is offering their service as a lending service when it is obviously a marketplace where sellers of bitcoin gets matched up with buyers of bitcoin(using solidtrustpay/paypal/etc.). What exactly is the reasoning for the "lending" story?

Other than that, i can see myself selling some coins on their site fairly soon.

did you try to sell coins there?