XCARD AND ITS WORKING METHODS
How to Open an XCARD Account & Verify Identity
XCARDis taking all the necessary steps in ensuring the safety of their consumers who are using this platform. XCARD assists you with providing support for both your business and personal accounts.
Any illicit activities, which include, money laundering etc. has always been kept far out by XCARDas the platform uses corporate policies while registering their users and implement anti-money laundering methods which are thoroughly followed.
Before finalizing the account, XCARDvalidates all the information provided by the user by checking the documents given to open the account, and only after being sure of the user's authenticity XCARDinitiates the acceptance of the account.
How to Connect Your Card with XCARD
All you need is an XCARDApp, this is the first step. As soon as you have your XCARDapp handy, for connecting your existing card there are various methods you can follow. It's as simple as a snap. While trying to connect, just fill out your existing payment card into the XCARDapp, such as your International Bank Account Number (IBAN), the one which is associated through the payment card, Original Credit Transaction (OCT) for card types such as VISA Cards and Money Send if using Master Card.
Just provide with your Card Number (the one which you wish to make payment through) and other details, or else you can also Scan your existing card. This gives IBAN authority to obtain your Bank Statement or Credit Card information to get connected. XCARD also pops its user with the determined payment method to avoid confusion and find out the most supported or convenient method while topping up Credit to the user's card.
How to Get A Loan using XCARD
Just in case you don't wish to make any purchase using your Crypto, or you don't wish to use your Crypto at all, you can always try to get a loan through XCARDusing your Crypto as collateral. While doing so, your cryptocurrency will untouched, not be spent and it'll allow you enough time to pay back given Credit without converting your Currency.
Be informed that there are monthly rate interests that are charged according to market condition however this is levied if the loan is taken for more than one day. If you are taking the Credit only for one day, you don't have to pay anything extra here.
Even here, you have an option to either pay back using your FIAT Currency, or, if you don't wish to do that, then you can pay back or settle your Credit using crypto collateral.
Cryptocurrency with an equivalent value needs to be deposited while considering Credit/loan from XCARD as it will play a lead role as your collateral and will also increase the chances of getting a loan through risk-cover ratio (usually marked at 20%). The collateral value of the same is totally dependant again on the Market condition, and it may change along with the Market fluctuations. All the information you need to get a loan from XCARDwill be provided while topping the card.
How to Top the CryptoCurrency
Once you connect your existing card with XCARD, you can simply top it upright through the App. Firstly, you should send Bitcoin or Ether or any other cryptocurrency which is accepted into your wallet of the XCARD app. After that, you can choose the cryptocurrency to get converted into any amount as your spend limit. It is very much likely that the App will accept over 200 crypto-currencies and around 150 FIATS. If in case you are using XCARD issued payment card, then you don't need to wait up, as you can do the transactions without having to top up your existing card. If, in case you need to spend your FIAT Currencies, then you will need to top up your XCARD wallet before initiating any kind of transactions immediately. XCARDgives you direct access to your FIAT Currencies once it has converted them to your card using their transfer gateways.
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