Xend finance Review: Legit or Scam? Everything you need to Know
In this post, we will be looking at xend finance reviews, we will talk more about what xend finance is and how it works including the xend token, so if you want to know about this, make sure you read this article all the way to the end so that you get to decide if xend finance is the right choice for you when it comes to investments and I will also give you my personal opinion whether it is a good way to invest.
With the increase of finance platforms, one would be confused about which one to choose. Many finance platforms have crashed in the past costing people their money, so the risk of investing with online-based finance platforms is even higher nowadays.
Xend finance seems to be a very interesting platform to save and invest in, but people are still sceptical about it, which is the reason many people are searching online to know if xend finance is legit or a scam. So without wasting any time, let's dive right into the main part of this post.
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What is Xend finance?
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| Xend finance website. |
Xend finance is a leading global crypto bank, with Xend finance, you can save and invest in Defi (decentralised finance). they also have the Xend finance token which is available in many crypto exchange platforms like Binance, xend finance token has been performing quite well according to the statistics on coinmarket cap
Xend finance allows its users to convert their local currencies into crypto or US dollars and if they do this, they will be getting an annual interest of 15%, this sounds like a great way to invest your money without having to do any actual work, but before you make this type of decisions it is advisable that you do some background research to know if it is worth it.
Xend finance has risen in popularity in Nigeria and some major parts of the world, more and more people are investing with the platform because of the steady growth they have been experiencing since its launch.
Is Xend finance legit or scam?
Xend finance is a legitimate crypto bank founded by Ugochukwu Aronu in 2019, the platform has experienced a spike in popularity and value, aside from that, the company has been featured in the Google Launchpad, Xend finance token "$XEND" is also listed on coinmarket cap and also available on Binance, so yes, Xend finance is in fact legit.
How does it work?
Xend finance works in a very simple and straightforward manner, they simply allow their users to convert their local currencies into crypto and or US dollar and then enjoy a steady annual interest rate of 15%. This is boldly written on their website and all their social media platforms, and I personally believed that it is the reason that many people are considering the platform.
By looking at this, many people ask, "how does xend finance make money?" this is a very reasonable question to ask when trying to invest with a platform you don't totally know about. Well, xend finance makes its money by staking the capital invested by its users, then at the end of the year, they share the profits with their users.
Xend finance token price
Apart from just investing your money and expecting an annual return, Xend finance also has a token that people can purchase, xend finance token is also performing really well over the past few months since its launch, the price of Xend finance token is 0.0282 as at the time of writing this article
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| Xend finance token price listed on coinmarketcap |
And by looking at the price chart of Xend finance token, you can tell that the token is experiencing an uptrend, which means holders of the token are making profits simply by buying and holding the token.
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| Xend finance price chart on coinmarketcap |
this is also one of the reasons that caught people's attention about the platform and also the reason they are kind of a good way to go.
How to sign up on Xend finance
If you are ready to start using Xend finance, signing up for the platform is the second thing you should do after making some research about the platform, signing up on Xend finance is straightforward and easy, you don't even need a computer to do that as they have apps you can use on your Android or IOS devices.
To sign up on Xend finance, you should first of all download the app on your Android or IOS device, install the app on your phone and create your account by submitting some basic information about yourself such as your name, date of birth, country, mobile number and email address, when you sign up with all the information, you will be asked to verify your email address and phone number and after that, your Xend finance account will be ready for use.
Simply login into your account after signing up, then add your bank details if you wish to, because you will need them when you want to convert your local currency to crypto or US dollar.
Is it advisable to invest in Xend finance?
Investing in Xend finance is a great choice because they have good customer reviews and also a great user experience, apart from that, their token is performing quite well on coinmarket cap, aside from that, they are also partnering with Google which is a good sign that their business is legit and run by real people. Although you should also do your own research before finally making a decision.
Who is the founder of Xend finance?
The founder of Xend finance is Ugochukwu Aronu, a Nigerian entrepreneur, he was born and raised in Enugu state in Nigeria by his parents, he studied electronic engineering at NSUKA (the university of Nigeria), he developed an interest in Blockchain in 2016 and started writing some codes and creating his first DApps.
He founded Xend finance in 2019 when the pandemic was just starting, according to him, starting Xend finance was difficult because not many of his colleagues know about Defi.
How to withdraw money on Xend finance
You can easily withdraw your money on Xend finance with a few clicks of the button, all you need to do is to open the Xend finance app and locate the coin wallet button, click on the coin wallet option and you will see some features, select how you want to withdraw your money, either through crypto or Xend bridge.
If you chose to withdraw with crypto, all you need to do is to enter the amount you want to withdraw, and if you want to withdraw everything, click the max option to automatically enter your entire balance after that, enter your crypto wallet and click "Continue"
And if you want to withdraw to your bank account, just enter the amount you want to withdraw and click withdraw, and the funds will be sent directly to the bank account you added to your xend finance account in the beginning.
Final thoughts on Xend finance review
So that's all you need to know about Xend finance, now you can make your decision to either invest with them or not, I hope you find this article helpful, if you do, please share this article with your friends on social media, and if you have any questions regarding this post, leave your thoughts in the comment section and I will take my time to reply to you. Thanks for stopping by today, have a nice day.
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