XBO.com Review – Is it a Safe Crypto Exchange?

After FTX Collapse, Crypto users are looking for reliable and secure alternatives to trade and store their cryptocurrencies. While people think that DeFi is the future, this will take time. CEXes offer a better user experience for newbies than DEXes. This XBO.com review will give us a complete idea of XBO.com, i.e., a simple yet powerful crypto exchange platform.

 Xbo.com Review
XBO.com

Summary

  1. XBO.com is a centralized crypto exchange where users can easily trade cryptocurrencies.
  2. Available on Android and IOS
  3. XBO.com loyalty program provides users who actively use the platform with crypto rewards and improved trading and exchanging conditions.
  4. Each level gives users’ additional perks and rewards.
  5. Users can unlock the full potential of their crypto investments with an XBO.com payment card.
  6. It uses software and APIs provided by Fireblocks to ensure highly secure conditions for storing users’ digital assets.
  7. It uses iSpiral for KYC and compliance automation services.
  8. PROCRYPTIC SP. Z O.O., a company incorporated under the laws of Poland, with a registered address at Hoza 86, Suite 410, Warsaw, 00-682, Poland, is responsible for the protection of the privacy and the safeguarding of clients’ personal and financial information.
  9. It provides crypto exchange services under the laws of the Republic of Poland.
  10. The platform uses iSpiral for KYC and compliance automation services.

XBO.com: Introduction

XBO.com is a centralized crypto exchange where users can easily trade cryptocurrencies. Here is the list of some features offered by the platform are:

  • Wide Selection of Coins
  • High Transparency with no Hidden Charges
  • Multiple Payment Methods to Deposit Crypto or Fiat
  • User-Friendly Verification Process
  • Low Transaction Commissions
  • Dedicated Support Team to Resolve User Queries
  • Fast Order Execution
  • High Tech Security Promises
  • Loyalty Program Rewards

XBO.com: Trading

In this article, we will be using XBO.com’s Android App.

  • Step 1: Install XBO.com ‘s Android App. After installation is completed, we will see an option to Create Account & Sign In.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 2: Existing users can use the Sign In Option. New users will click on Create account. Users will now have to submit their email id and password.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 3: Now, when users click on Create an account. They will get a confirmation mail in their mailbox. In addition, they will receive an automatic entry in XBO.com ‘s Silver Tier.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 4: After we click on Confirm email. It’s time for the user to add their phone number. Click on Confirm.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 5: As we can see, the user’s Occasional Verification is completed. He can now deposit unlimited crypto, but there is a withdrawal limit. In addition, there are full restrictions on fiat deposits and withdrawals.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 6: To raise fiat limits, a user has to continue their verification.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 7: But with the basic tier, there are still some restrictions to deposits and withdrawals. So, users must complete their verification to get unlimited deposits and withdrawals.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 8: Users will have to fill in their address to get access to the basic tier perks.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 9: Users will have to provide at least one of the listed documents below to verify their identity in the pro tier perks.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 10: UI/UX design and experience of XBO.com is pretty smooth. Users can trade cryptocurrencies with one click.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 11: Users can deposit fiat quickly via credit card and bank transfer.
Xbo.com Review - Is It A Safe Crypto Exchange?
  • Step 12: XBO.com ‘s mobile app also provides daily news and insights of the Crypto Market.
Xbo.com Review - Is It A Safe Crypto Exchange?

XBO.com: Loyalty Program

XBO.com loyalty program provides users who actively use the platform with crypto rewards and improved trading and exchanging conditions. The program is based on collecting experience points (XP). Users can get them for performing various actions on the platform, such as passing verification, installing the app, exchanging cryptocurrencies, etc.

When a user collects enough XP, they move up one loyalty level. Each level gives users additional perks and rewards. The platform has five loyalty levels:

  • Silver: Starting Level awarded to User after Successful Registration
  • Gold: Requires 10,000 XP
  • Platinum: Requires 65,000 XP
  • Diamond: Requires 650,000 XP
  • Black Diamond: Requires 2,100,000 XP

Here are a few benefits offered by XBO.com loyalty program:

  • Cashbacks
  • Free Crypto Withdrawals
  • Free Fiat Withdrawals
  • Spot Trading Fee Reduction
  • Crypto Rewards
  • XBO.com Payment Card
Xbo.com Review - Is It A Safe Crypto Exchange?

XBO.com: Referral Program

Users can earn a reward by inviting new people using their referral link to XBO.com. They can find it on the left side of the desktop platform or under Menu on your XBO.com app.

Click Invite a friend, copy the referral link, then share it with those who are already not registered on the platform. After they join, complete basic verification, and make a trading volume of $5000, the existing user will earn a crypto reward of $50.

XBO.com: Payment Card

Users can unlock the full potential of their crypto investments with an XBO.com payment card. As a member of the platform’s loyalty program, users will be entitled to a card with the following features:

  • No Inactivity, Monthly, or Annual Fees
  • Automatic Conversion to Local Currencies
  • Accepted by 40M+ Merchants Worldwide
  • Up to 2% Instant Cashback on Any Purchase
  • Custom Design Depending on Loyalty Tier
  • Additional Free One-Click Virtual Cards
Xbo.com Review - Is It A Safe Crypto Exchange?

XBO.com: Security

XBO.com is a secure platform and provides crypto exchange services under the laws of the Republic of Poland. They comply with Anti-Money Laundering (AML), Countering the Financing of Terrorism (CTF), General Data Protection Regulation (GDPR), and Data Protection Act (DPA) regulations. They also perform diligent customer checks and implement military-grade data security screening. XBO.com uses Two Factor Authentication to protect users’ accounts.

Also, all withdrawals from users’ accounts require SMS OTP confirmation. XBO.com uses iSpiral for KYC and compliance automation services. Lastly, XBO.com uses Refinitiv, i.e., financial software and risk solution.

Xbo.com Review - Is It A Safe Crypto Exchange?

XBO.com uses AWS to keep data safe from breaches and leaks. It also uses Cloudflare for protection against DDoS attacks and other malicious interference. All XBO.com operations are secured with SSL.

Besides, FUGU helps XBO.com in a secure and user-friendly verification process. By adhering to PCI DSS, it guarantees the highest level of security for card transactions. They apply CCSS level 3 security standards for crypto storage and transfer. Ledger ensures the security of XBO.com crypto wallet.

Further, all its operations concerning client data protection follow the requirements of the SOC 2 compliance framework, which is ensured by the AICPA reports. Lastly, it uses software and APIs provided by Fireblocks to ensure highly secure conditions for storing users’ digital assets.

PROCRYPTIC SP. Z O.O., a company incorporated under the laws of Poland, with a registered address at Hoza 86, Suite 410, Warsaw, 00-682, Poland, is responsible for the protection of the privacy and the safeguarding of clients’ personal and financial information.

XBO.com: Conclusion

XBO.com has also secured a license and is now registered in Australia. Furthermore, to boost the platform’s impact across various markets, it has partnered with PayRetailers group to expand operations in Latin America. Through the partnership, Latin American users can trade and invest cryptocurrencies on the XBO.com platform and exchange fiat for crypto. XBO.com has also partnered with blockchain data platform Chainalysis to enhance its compliance capabilities, support anti-fraud protocols, and monitor risk. All credits of images and information used here belong to XBO.com.

Yash Kamal Chaturvedi
Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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