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Xtheta Global is a newer exchange launched in July 2020 in partnership with Blue Helix that aims to service users outside of Japan, unlike Xtheta Japan a domestic exchange which is restricted to just citizens of the land of the rising sun. At first glance, it offers crypto-to-crypto trading, OTC trading, and perpetual contracts up to 100x leverage. Digging deeper we see robust security, deep liquidity and some other exciting features with more on the way.
Let’s take a deeper dive and see what this exchange is all about.
At a glance:
- What is Xtheta Global?
- Exchange Interface & Usability
- Liquidity & Trading Pairs
- Ease of KYC
- Advanced Features
What is Xtheta Global ?
According to CoinMarketCap, Xtheta Global was launched in July 2020 out of Singapore, lead by Japanese native Koji Muto in conjunction with Blue Helix – “the world’s leading blockchain financial information technology service provider.” Koji Muto, the CEO of Xtheta Global may be more famous in Japan, where he leads Xtheta Japan, a local licensed crypto brokerage but hopes to take on the global scene.
In a recent AMA, Muto explains that Xtheta Global was created to service the global markets and offer different services to users outside of Japan. Presently Xtheta Global is exploring offering a new range of services from Staking to developing its very own exchange token.
I must say, given that Xtheta Japan is licensed exchange in Japan, even though Xtheta Global is a different organization, that gives Xtheta Global a lot of weight in terms of credibility in a sea of exchanges that seem to pop up out of no-where.
Exchange interface and Usability
At first glance, Xtheta Global appears to have a standard yet sleekly branded interface. The homepage displays leading trading pairs, new announcements, and allows for quick navigation to all the exchanges services.
Without logging in, we are able to see the trading interface with ease, a point I see too many exchanges fail at. Just let me see the exchange! Xtheta Global does this well. On the left we can switch between trading pairs, in the center is a standard trading view chart which can be saved, on the right is the order book, and on the bottom we can see the order form, which allows for spot limit and market orders. Below the trading interface we can check our open orders and balances at a glance.
After a quick log in and inputting my 2FA, we can see the user page. From here we can check balances, deposit and withdraw crypto assets, complete KYC, and access trading pairs.
Depositing is fairly straight forward, simply click deposit next to an asset and send to the address generated for you from you wallet.
Liquidity and Trading Pairs
A problem for many starting exchanges is liquidity and available tokens.
Immediately we are warmly greeted with thick order books, and reasonable spreads – making it easy to fill your order at market price or better. Taking a look at CoinMarketCap we can see the Xtheta Global appears to rank top 10 by volume too, however this is surely not all their volume as its no secret its an aggregated market – meaning they share order books in a vast network of exchanges to create professional level liquidity immediately useable by even financial institutions. The volume and liquidity reported by the API within the network is real however how much of it is generated by Xtheta Global is bound to be much less.
Available tokens seems to include the top 20 assets and taking a peak at their twitter and announcements we can see that new and popular altcoins and DeFi tokens are added often several times a month. Project managers can even apply for listing within the listing form found on the homepage and the exchange explains listing aims to be as cheap as possible.
Know your customer ( KYC )
Xtheta Global claims to be committed to fighting money laundering and complying with relevant know your customer laws. That being said, users may trade and withdraw up to 2 BTC per day without submitting an ID, which is similar to other exchanges such as Binance. Users that wish to move large sums of value around will however need to submit their ID, and selfie holding a paper with the submission date where it will be analyzed by the customer support team.
While casual traders will find the spot exchange more than adequate, advanced features are always welcome to an experienced trader.
Pro users have the ability to take part in derivative perpetual contracts up to 100x leverage. Diving into the perpetual contracts, more order types can be found, such as stop limit, fill or kill.
Technical Analysts will be right at home with the save-able Trading View charting software.
And those looking to sell direct can find a peer-to-peer OTC feature built right in.
Xtheta Global offers a competitive list of products at its launch:
- Crypto-to-crypto trading with deep liquidity and low spreads
- OTC peer-to-peer trading
- Perpetual Contracts up to 100x leverage
- Downloadable mobile app
- Pro-charting tools
- Complete API for data and trading software
- Listing connection to Japan (For projects looking to list their token in the Japanese market too.)
And is planning:
- Unique native exchange token
- Staking for earning interest on holdings
- Unique integrations with partner projects
- Fiat railway
- Adding dozens of new pairings
But why use it over other exchanges offering similar services?
When it comes down to it, most retail crypto traders simply need a reliable market with liquidity. Xtheta Global offers this and then some. Some users will enjoy the ability to trade without KYC, while others looking to fill larger orders will enjoy the deep low spread order books. Registration to trading is a snap and users can get to trading within minutes.
- Xtheta Global is a new exchange still proving itself in the crypto ecosystem, some people may prefer a more established well known exchange.
- Token pairings are far fewer than places like Binance
- No Options
- Staking and Exchange Token are not live yet
- Higher than average fees at 0.15 % for spot and 0.075% for contracts
Bash Capital gives Xtheta Global an above average 8/10 in terms of exchanges as it fulfills the needs of nearly most retail traders. It offers spot trading, perpetual contracts up to 100x leverage, OTC trading, and all assets are backed on Blue Helix cloud custody. Order books are liquid and Deposits and withdrawals work fast in a largely automated system. Its drawbacks include slightly higher than normal fees, lack of off the shelf botting support, and features like staking that have become popular on major exchanges. That being said, the team seems to be committed to implemening more and more features to remedy its current drawbacks which points to a lot of potential.