Menlo Park, CA, August 22, 2016 – xCoins.io announces the official launch of its innovative peer-to-peer bitcoin platform after three months of beta testing.
Peer-to-peer bitcoin trading websites have become very popular with bitcoin buyers, because they provide what most bitcoin exchanges do not, quick access to bitcoin. Instead of waiting for a bank transfer, which may take several days at a regular exchange, users can arrange a quick person-to-person trade through a peer-to-peer website.
But, peer-to-peer bitcoin websites have their own pitfalls and shortcomings. Users have to invest time and effort to use them. They have to sift through offers. Buyers have to communicate with sellers and agree on terms. Then, they have get “approved” by each seller. Finally, a payment is made and the buyer has to rely on the seller to confirm the receipt of funds and release bitcoin. The platforms do not track these payments and only step in, if there is a disagreement between the parties.
xCoins has addressed these shortcomings by creating a one of a kind automated system, which allows users receiving bitcoin instantly and without the effort required at other peer-to-peer websites.
According to the xCoins team, a user just needs to enter the amount of bitcoin and hit search. The system automatically finds the best offer for the amount needed. The user then makes a payment directly to the person supplying bitcoin. And, here is where the magic happens. xCoins tracks this payment and releases bitcoin automatically to the user. There is no manual effort of any kind required from either party involved in the transaction.
As a result, xCoins transactions are truly instant. The exception is the very first transaction at the site, when the user needs to submit a photo ID for approval. But, unlike the other peer-to-peer platforms, it is only done once. After the user is approved, he or she can receive bitcoin instantly from any supplier.
xCoins team tries to keep the approval time for first-time users to under one hour, but it can be longer at peak hours or on weekends.
Because payments are tracked automatically, payment disputes, frequent at manual peer-to-peer exchanges, do not exist at xCoins. According to the xCoins team, old-style systems rely on human mediators to resolve disagreements, the process also known as “arbitration nightmare.” At xCoins, there is never a question about whether or not a payment was made, so payment disputes do not ever arise.
As Jon C., one of the xCoins users, wrote: “This site is incredible. Transactions are instant and they are very upfront about fees. Easily one of if not the best ways to by BTC. Hats off to the xCoins team - you guys have done a superior job.”
xCoins users can make payments with a variety of payment methods, including major credit or debit cards, bank account (ACH), PayPal balance, PayPal credit, and eCheck.
xCoins.io is a privately held company based in Menlo Park, CA. By leveraging crypto currency technology and implementing exceptional user experience, xCoins.io makes bitcoin available to anyone at fast speed and superior convenience.