XBrick exchange review 2018 | Features, fees and more | finder.com

XBrick cryptocurrency exchange review

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A beginner’s guide to the XBrick global cryptocurrency exchange, including its features and fees.

Founded in 2017, XBrick is a global cryptocurrency exchange that allows crypto enthusiasts to buy and sell more than 10 digital currencies.

Based in Sydney and owned by blockchain technology company X Blockchain Pty Ltd, XBrick aims to offer fast and convenient access to bitcoin (BTC), Ether (ETH) and several other cryptocurrencies.

Product Name XBrick Cryptocurrency Exchange
Fiat Currencies -
Cryptocurrencies BTC, USDT, ETH, EOS, AE, BTO, BTS, CAN, HLC, SEER, XAS
Deposit Methods Cryptocurrency
Trading Fee Maker: 0.05%
Taker: 0.05-0.1%
Deposit Fees
Withdrawal Fees

Pros

  • Simple and straightforward user interface
  • Mobile trading apps available for extra convenience
  • Two-factor authentication and trading password for extra security
  • Partial cold storage of user funds
  • Fast and easy signup process

Cons

  • New exchange launched in November 2017, so limited information available
  • Limited range of coins compared to some other exchanges
  • No live chat support
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

What is XBrick?

XBrick is an Australian cryptocurrency exchange that allows users to buy and sell digital currencies.

It offers 24/7 trading access through distributed cluster servers, bank-grade SSL encryption and a platform engine that employs memory matching to process more than 2 million orders per second. XBrick also claims to partition cold wallets from hot wallets to provide added security for user funds.

One of its unique offerings is its points system, which allows users to earn points for completing specific tasks, such as verifying their account details or logging into their account. The more points you earn, the lower the fees that apply to your account.

Which cryptocurrencies can I buy/sell?

At the time of writing (2/21/18), XBrick allows you to trade a wide range of cryptocurrencies, including:

  • Bitcoin (BTC). Note: Bitcoin is traded on the platform in millibitcoin (mBTC). 1 mBTC = 0.001BTC.
  • Ether (ETH)
  • Aeternity (AE)
  • Bottos (BTO)
  • BitShares (BTS)
  • BitCNY (BITCNY)
  • CanYaCoin (CAN)
  • Eos (EOS)
  • HalalChain (HLC)
  • SEER (SEER)
  • Asch (XAS)
  • Tether (USDT)

Available countries

XBrick is a global exchange that offers its services to users in countries around the world, including the US.

Which payment methods are accepted?

You can deposit funds into your XBrick account using the following cryptocurrencies:

  • BTC
  • ETH
  • BITCNY
  • USDT

To make a deposit, log into your XBrick account and click on the “Assets” navigation header. Click on “Deposit”, select your desired cryptocurrency and click “Deposit” on the right under the “Action” column. It’s then a matter of following the provided instructions to copy the relevant wallet address.

The time it will take for your funds to arrive varies according to the network confirmation time of each available cryptocurrency.

XBrick account levels

As you can see in the table below, XBrick offers six account tiers based on the number of points you have earned.

Account levelsPoints
VIP-1≥1
VIP-2≥10,000
VIP-3≥40,000
VIP-4≥100,000
VIP-5≥300,000
VIP-6≥800,000

Points are earned by performing a range of tasks, as outlined in the next table.

TaskHow oftenPointsLimit
Binding email sign-upOne-off only+1,0001,000
Google AuthenticatorOne-off only+1,0001,000
Set trading passwordOne-off only+1,0001,000
Real name verificationRecurring+2,000Unlimited
First depositOne-off only+2,0002,000
LoginDaily+2Unlimited
Trading volumeRecurringTrading volume x currency points ratioUnlimited

How much will it cost me to use XBrick?

When you place a trade on XBrick, maker and taker fees apply. While the maker fee always remains the same, taker fees vary based on your account level – the higher your account level, the lower the fees.

For example, the table below shows how fees differ when trading mBTC against ETH.

mBTC Trading Fees

VIP levelMaker feeTaker fee
VIP-10.05%0.1%
VIP-20.05%0.09%
VIP-30.05%0.08%
VIP-40.05%0.07%
VIP-50.05%0.06%
VIP-60.05%0.05%

However, no deposit or withdrawal fees apply at the time of writing.

Are there any transfer limits?

There are no transfer limits listed on the XBrick website, but you may wish to contact XBrick directly to find out whether any limits apply to your account.

Is it safe to use XBrick?

Before you’re allowed to deposit funds and start trading on XBrick, you’ll need to set up 2-factor authentication on your account and provide your name, address and date of birth. XBrick also claims to use bank-standard security measures to protect the security of user information, such as SSL encryption.

However, as this is a new exchange, there is little information available online from other account holders about their experiences with the safety and security of this platform.

Customer support

If you have a problem with or question about your XBrick account, you can submit a support ticket online. There’s also a handful of answers to frequently asked questions in the support center, plus a support email address.

However, at the time of writing, neither phone nor live chat support are offered.

Pros and cons

Pros

  • Simple and straightforward user interface
  • Mobile trading apps available for extra convenience
  • 2-factor authentication and trading password for extra security
  • Partial cold storage of user funds
  • Fast and easy signup process

Cons

  • New exchange launched in November 2017, so limited information available
  • Limited range of coins compared to some other exchanges
  • No live chat support

Next steps

If you’d like to sign up for an account with XBrick, click on one of the “Go to site” links on this page. You’ll then be taken to the XBrick website where you can provide your email address and create a password to register.

You’ll also need to verify your email, set up 2-factor authentication and confirm your name, address and date of birth before you can deposit any funds.

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