How to Buy XDC Crypto: A Step-by-Step Guide

The XDC Network is a Layer 1, open-source, hybrid blockchain platform built for enterprise-use in trade finance and the tokenization of real-world assets. It aims to provide a secure and scalable solution for businesses, potentially offering fast and low-cost cross-border payments, faster transactions and enhanced transparency and traceability. 

Its native cryptocurrency, XDC, powers transitions and applications built on the platform. This digital asset is available on CEX.IO, an established exchange that offers multiple avenues to buy crypto, including XDC. Here's how to buy XDC cryptocurrency with a credit or debit card.  

What is XDC coin?

XDC is the native cryptocurrency of the XDC Network blockchain. This token is used to pay for transactions and smart contract execution on the XDC network. 

The network’s token plays a role in facilitating activities associated with traditional trade finance by eliminating intermediaries and automating tasks, which potentially reduces costs and friction..

There's a hard cap of 37.7 billion XDC tokens, with some allocated for the founding team, ecosystem development, and circulation. Out of this total supply, around 14.9 billion XDC are currently available.

Can I stake XDC?

Crypto enthusiasts can stake XDC with several cryptocurrency exchanges and DeFi platforms. This method allows participants to delegate their XDC holdings to a validator on the network and potentially earn rewards based on the amount they stake and the platform's terms. 

Another way to potentially earn crypto rewards is to run a masternode, which could offer potentially higher rewards. However, this method requires a much larger amount of XDC, typically around 10 million coins, and more technical knowledge. In turn, this route may incur additional costs. 

Those looking for a more beginner-friendly approach to potentially earn crypto staking rewards can utilize our staking program. While CEX.IO does not support XDC, eligible customers can explore other stackable cryptocurrencies, including Solana (SOL), Polygon (MATIC), and Tezos (XTZ). 

How does the XDC Network work

XDC Network is a Layer 1 blockchain, meaning it is an independent blockchain, not built on top of another existing one, like Ethereum. However, it can work with Ethereum Virtual Machine (EVM) tools and applications, making it familiar to developers who already work on the Ethereum network. 

It uses a delegated proof-of-stake (dPoS) consensus mechanism, where a limited number of validators secure the network, chosen by delegators who stake XDC tokens. This could help the XDC Network potentially achieve fast transaction speeds (around 2,000 transactions per second) and low fees. 

Potential Use Cases for the XDC Network

TradeFinex, built on the Trade Finance Distribution Initiative (TFDi), utilizes the XDC Network for invoice discounting and factoring by streamlining the process and potentially making it more transparent and secure. 

Furthermore, InFactor, a platform that allows businesses to receive faster access to cash flow by selling their unpaid invoices, utilizes XDC Network's smart contracts and wallet functionality to automate these processes. 

In addition to streamlining certain elements of trade finance, XDC Network's capabilities could extend to supply chain management. 

Similar to VeChain (VET), companies can use XDC Network to track the movement of goods throughout a supply chain, ensuring transparency and efficiency. XDC's smart contract capabilities could help businesses automate tasks like triggering payments upon delivery confirmation, or initiating recalls for defective products.

How to buy XDC with a credit card

Curious participants can buy XDC on CEX.IO through Instant Buy. This functionality allows eligible customers to seamlessly connect their credit cards with a crypto wallet, courtesy of CEX.IO, and obtain XDC.

In addition to the XDC Network's native token, verified users can buy Ethereum, Bitcoin, Solana and 200 other cryptocurrencies. 

Here are the steps to acquire XDC through Instant Buy: 

1. Create a CEX.IO Account: If you're new to the platform, start by registering and verifying your identity. This is a standard step for most cryptocurrency exchanges.
2. Head to Instant Buy: Once logged in, locate Instant Buy from the dashboard. 
3. Choose Your Currencies: Select USD (or your preferred fiat currency) as the method of payment. Then, find XDC from the list of cryptocurrencies available for purchase.
4. Initiate the Instant Buy: Confirm your selection and proceed with the Buy Crypto Instantly.
5. Specify the Amount: On the Add Funds page, indicate how much you want to spend on XDC. You can enter a custom amount, or choose from predefined allotments.
6. Pick Your Payment Method: Select credit/debit card as your preferred way to fund your XDC purchase.
7. Enter Card Details: Carefully enter your card information, including the card number, expiration date, and the CVV code (usually on the back of the card).
8. Link Your Card: Click Add Card to include your credit card in your CEX.IO wallet. This will likely involve a verification step from your bank.
9. Finalize the Purchase: Once everything is linked and confirmed, complete the transaction to acquire XDC.

Please note: U.S. residents are currently restricted from buying XDC on our platform. However, users based in the U.S. can buy BUSD, Bitcoin, Ethereum, or any of our 30 other supported digital assets. 

How to buy XDC with a debit card

In some cases, debit card transactions might be processed slightly faster compared to credit card purchases that require authorization from the issuer. This does not affect the overall process though. Those who prefer the security and budgeting benefits of a debit card can complete their XDC purchase following the same steps mentioned above. 

Where to buy XDC?

The best way to buy XDC online in the U.S. is to find a reputable exchange that supports this cryptocurrency. However, before choosing a platform, it's important to consider factors such as fees, security, and supported payment methods. Users may also want to check the trading volume of XDC on each exchange to ensure they can buy and sell it efficiently.

Should I consider obtaining XDC?

Individuals seeking XDC should decide based on their investment goals and risk tolerance. Before diving in, it's crucial to Do Your Own Research (DYOR) on XDC. Factors to consider before buying XDC with a credit or debit card could include: 

• Market Conditions: Research the current market sentiment and trends for XDC. Is the price stable, or is it experiencing high volatility?
• Project Roadmap: What are the development plans for the project behind XDC? A clear and well-defined roadmap can indicate potential for future growth.
• Team Background: Who is behind the XDC project? A strong and experienced team inspires confidence in the project's success.
• Token Utility: What purpose does the XDC token serve within the project's ecosystem? The more utility a token has, the more valuable it might become.
• Risk Tolerance: Cryptocurrencies could be inherently risky purchases. Are you comfortable with the potential for significant price swings?

Unfavorable market conditions? Consider alternatives

If research suggests unfavorable market conditions for XDC, users might consider a stablecoin like USDT (Tether) as an alternative. CEX.IO allows risk-averse enthusiasts to buy USDT, USDC, BUSD, GUSD, and MUSD with a wide variety of payment methods. 

Stablecoins are cryptocurrencies pegged to a stable asset, like the U.S. dollar, offering a potentially less volatile trading experience. While USDT might not enjoy the same high growth potential as XDC, it can provide a more reliable store of value in the cryptocurrency market. Stablecoins are also readily available for purchase on CEX.IO, unlike XDC. 

The decision whether to purchase XDC tokens rests solely with the individual. Understanding the inherent risks associated with digital currencies is crucial for informed decision-making. Once research is completed, enthusiasts can dive into the crypto market by learning how to buy XDC Network coin through a reputable exchange.

Alternative payment methods for acquiring XDC

Besides credit and debit cards, eligible customers can buy crypto with bank transfer (SEPA, SWIFT), e-wallets (Skrill, Neteller, PayPal), mobile payment processors (Google Pay and Apple Pay), and other cryptocurrencies. 

Please note: The availability of specific payment methods may differ between jurisdictions. For example, only U.S.-based users can buy crypto with PayPal. We advise all interested parties to conduct thorough research before purchasing on CEX.IO. 

How to store XDC tokens

XDC holders have multiple avenues to store their tokens. Those who value quick access and plan to actively trade XDC can keep them on the exchange where they were purchased. For example, CEX.IO provides users with a free crypto wallet, which allows them to buy, sell, store, and trade XDC against USD, EUR, and USDT on Spot Trading. 

Alternatively, XDC token holders can store their crypto on hardware wallets, physical devices resembling USD drives that store crypto private keys offline. However, these storages are generally more expensive than exchanges and losing them can result in permanent loss of access to XDC. 

FAQs

How to track the value of XDC?

For those curious about XDC's current standing in the market, our crypto prices page provides valuable insights. Here, users can track the real-time price of XDC, gauge its overall market size and capitalization, and understand the level of trading activity in the past 24 hours. This comprehensive information empowers enthusiasts to make informed decisions as they explore the potential of XDC.

Does CEX.IO Savings support XDC? 

Currently, CEX.IO Savings does not support XDC. However, users can still explore earning rewards with other cryptocurrencies. For example, eligible customers can buy USDC and deposit it into a Savings account to potentially earn rewards on their holdings. 

What is the CEX.IO Bitcoin calculator? 

Those looking to buy Bitcoin can explore our Bitcoin calculator. This straightforward tool allows users to effectively convert between BTC and fiat currencies, like USD, EUR, and GBP, as well as USDT stablecoin. By using live market data to provide the most up-to-date conversion rates, the Bitcoin calculator ensures our customers get an accurate idea of how much they'll receive when converting their currency.