XCOINS.IO Automates the Process of Making Money with Bitcoin [OFFICIAL]

[xcoins-io]

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

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[OrangeSeller]

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?

[Babayega31]

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.

[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?

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.

[xcoins-io]

are they selling gold? Selling real estate?

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.

[xcoins-io]

The official press release on CoinDesk:

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

[crazyivan]

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.

[xcoins-io]

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.

[Sierra8561]

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.

[xcoins-io]

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.

[BurtW]

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:

Why a secured loan is better than a regular sale?

Bitcoin transactions are irreversible like cash. In contrast, credit card, debit card, and PayPal payments can all be reversed. When you sell bitcoin to someone, you have a risk that a dishonest buyer will perform a chargeback and get his money back from you.
Secure lending solves this problem by giving bitcoin as a loan. A borrower has to pass a verification process and a credit risk assessment. The borrower also signs a legally binding loan agreement, according to which he or she needs to return bitcoin within one day, if his security deposit payment is cancelled.

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:

What are the risks?

Lending bitcoin has risks associated with it. Like with any lending, there is a certain percentage of bad loans. You should expect a portion of your interest income to be lost due to payment reversals. At xCoins, we carefully vet borrowers to keep the losses low. We are proud to say that the bad loan ratio in our system is in low single digits, which allows our lenders to receive double-digit profits!

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

This is a very interesting tidbit:

What happens, if bitcoin price changes?

Because of bitcoin price volatility, all loan amounts are denominated in US dollars. You will need to return the amount of bitcoin equivalent to the amount you received in US dollars.

Here is the crux issue:

How much does it cost?

xCoins is free for lenders. The borrower pays the interest fee to the lender. The borrower also pays the loan origination fee (xCoins commission) and the PayPal processing fee of 2.9% + $0.30 on top of the loan amount and interest.

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.

[Ryan Dugan]

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.

[xcoins-io]

"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!

[xcoins-io]

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.

[Sharma]

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

[BurtW]

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.

[gmgame]

all fiat funds will be clawed back up to a year after the transaction

Why is that?

[BurtW]

all fiat funds will be clawed back up to a year after the transaction

Why is that?

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

[Sharma]

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?

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.

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?

[gmgame]

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.