Xpence (Xpence.io)

16 July 2024

🔎 Review of the Xpence.io cryptocurrency wallet: reviews about the exchange, methods of withdrawing money and earning money

Xpence.io is a crypto wallet that presents itself as an innovative service for exchanging and storing all types of digital currency. The company guarantees a high level of security for transactions with funds from anywhere in the world. The project started in 2024.

📌 We will analyze the project in detail so that you can assess all the existing risks and advantages of cooperation with Xpence.io wallet.

📑 Claimed benefits of Xpens

Xpence.io provides a cryptocurrency management product called CoinGuardX, which has a number of features for effective use:

💻Understandable interface even for beginners.
💻Data encryption at a two-factor authentication level.
💻A variety of types of cryptocurrency pairs for payments, withdrawal, storage and exchange.
💻Instant financial transactions to send and receive money.

The site is stated to operate smoothly and provide 24/7 live chat support. Xpence.io’s entire emphasis is on security.

🗃 Checking the wallet security protocol: how to withdraw money from Xpence.io?

Cryptocurrency exchange through the Xpence.io wallet follows a standard set of actions:

✔️Go to the discord.com page.
✔️Authorization/registration on the platform.
✔️Verification if the account is new.
✔️Select a currency and submit an application for processing.

Funds arrive within an hour, but if the user made a mistake when entering data, the funds may freeze and there will be no possibility of withdrawal in the future.

It was not possible to find a license on the platform with permission to conduct financial activities. The company “screams” about regulating all issues related to the security of payment systems data, but does not provide the necessary agreements.

New cryptocurrencies that often appear on the platform cannot be used. They are not genuine, but test versions of tokens from partner companies. Because of this, trading with them can be negative. Especially when using the mining function, the probability of withdrawing coins is reduced to almost zero. This is happening due to the beta testing stage of new assets on the trading market on the Xpence.io platform.

🎮 Farming from Xpence io

Xpence.io allows customers to participate in pharming. There are 2 types of investments:

📉The first one has a farming duration of up to 10 days. The range of investment returns varies from 43% to 45% per month.
📉The second duration is up to 90 days, where the income range is from 51% to 51.66% per month.

The company promises timely payment of deposit income and breaks access into short-term and long-term periods.

📢 Exposing scammers: why is Xpence io wallet a scam and a scam?

During the verification of Xpence, many factors were discovered that, even without analyzing reviews, indicate a scam on the part of the developers. Among which, we would like to highlight the main ones:

✖️Direct access to the client’s wallet. The crypto wallet website has trust management of funds, which implies that the company carries out payment transactions without the confirmation of the trader. Thus, developers can withdraw currency from the account without consent and use it for trading.
✖️Virtual currencies in a crypto wallet are not tracked by other brokers and exchanges. We found that many digital assets are counterfeit, their rates are not fixed and are subject to frequent changes in volatility.
✖️Pharming does not have the ability to withdraw to banking details. Money can only be used inside the wallet for exchange, storage and mining.
✖️Technical errors on the site at the time of currency conversion. There is never any problem while replenishing the wallet deposit, but as soon as the client faces the reverse withdrawal process, the money gets stuck. The company argues that people make mistakes when entering data and does not take responsibility for the loss of client capital.

As it turned out, the goal of the crypto exchange is to attract new users, investors, and traders to the platform. So that in the future, a person will be tied to the system due to lost money during a transaction or pharming. In the hope of receiving funds, people continue to use the platform.

💰 The company’s reputation among investors: reviews of the Xpence.io wallet on the forums

Today, the Xpence exchange has exclusively negative reviews on websites and forums. The crypto wallet has received a massive outpouring of complaints that focus on loss of capital, unprofessional customer service, fictitious cryptocurrencies and weak data encryption code.

In addition, Kpens conducts a PR campaign on telegram channels of partners and bloggers, where gullible investors find referral links and promo codes. Subsequently

And why, they are faced with the impossibility of withdrawing, returning and even exchanging funds between two wallets of the organization itself.

📍 Verdict: Xpence io project is unreliable

We do not recommend the Xpence.io wallet for processing money transactions, as you will encounter a lot of different problems at the very beginning. The resource is at its maximum disadvantage and does not strive to develop towards legalizing its activities. After all, it is still unknown who is the developer of the system. The project also does not have social networks, so you can get acquainted with the functionality in more detail. We ask you to be careful when choosing crypto exchange and storage services. Write your reviews about Xpence.io in order to prevent other investors from ending up on the scam site. If it is difficult for you to independently assess the prospects of working with such projects, you can contact our experts for detailed advice. We will help you catch the scammer and even return your money.