Tag Archives: exchanges

PRESS RELEASE: FinLab enters the cryptocurrency world with an investment in the real-time bitcoin gold exchange Vaultoro Ltd.

Frankfurt/London, September 8, 2017. FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR) is set to make a seven-figure investment in London-based Fintech Vaultoro Limited, the leading real-time trading-platform for Gold and Bitcoin in the world. Vaultoro will invest these new financial resources in further expanding its Bitcoin/Gold platform into a multi-asset platform, which will include the addition of a Euro/Gold pair and several additional cryptocurrencies like Ethereum. Vaultoro will invest in additional people and increase the marketing budget to facilitate continued strong growth.

Vaultoro is the fastest and most cost-effective way in the world to open a Swiss vaulting contract and buy physical allocations of gold against Bitcoins. This enables anyone to secure their savings outside of the banking system without losing liquidity. The goal is to allow anyone to hedge their savings in gold and bitcoin but spend it in any currency down to the cent using an internet vaulting app, and a gold backed Debit Card. Vaultoro enables anyone to trade into allocated gold instantly and secure that gold in a professional top-tier audited & insured vaulting facility based in Zurich, Switzerland.

The innovative asset platform pushes banking possibilities to the next level, enabling everyone from the unbanked in developing countries, to high net-worth individuals in the western world, the opportunity to trade and own investment grade allocated gold, anytime, anywhere.

In spring 2017, Vaultoro graduated from Techstar’s 2017 Berlin program, an accelerator program, which empowers entrepreneurs to bring new technologies to the market. Thus, Vaultoro was given the opportunity to connect with community leaders, founders, mentors, investors and corporate partners to facilitate innovation.

“With investment from a serious, fintech focused VC like FinLab, we can materialize our vision and mission a lot faster by rolling out technology over the coming months; technology that we have been building behind the scenes since our foundation. This includes the world’s first real-time gold based debit card, so that anyone can save in allocated bullion and spend it anywhere credit cards are accepted”, says Vaultoro co-founder, Joshua Scigala.

“We are excited about Vaultoro’s innovative real-time trading platform, that allows people from all over the world to trade and invest instantly into physical allocated gold, currently via their bitcoin savings and with other currencies like the Euro and Ethereum in the near future”, says Stefan Schütze of Finlab. “We are looking forward to supporting the ambitious Vaultoro team with our know-how, network and financial resources in order to develop Vaultoro into a leading multi-asset exchange platform.”

About Vaultoro Ltd.:
Vaultoro is a rapidly growing enterprise offering a secure alternative to traditional banking, merging gold’s long track record as a globally recognized store of value with the speed, transparency and divisibility of the Bitcoin blockchain. Vaultoro currently has over 7,500 clients from 94 countries that hold more than 12 million Euro worth of bitcoin and gold through the platform. In 2017, Vaultoro joined Techstars, one of the largest and most prestigious global investors in startups.

Press contact:
Vaultoro Limited:
Joshua Scigala
Phone: +44 20 3389 9643

About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies (“FinTech”) sector. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Press contact:
FinLab AG:
Phone: +49 69 719 12 80 0

Interview With Sergey Nikitin of xcoins.io

xcoins logo

Sergey Nikitin has about twenty years of information technology experience. He holds a BS, Computer Science degree from UCSB and an MBA degree from UCLA. After graduating, Sergey was recruited to work at Microsoft. He later formed a software development outsourcing business. Sergey is passionate about cryptocurrencies and believes that they are the future of money. He wants xCoins to ultimately become a one stop shop for all cryptocurrency needs.

BitcoinDood: So what exactly is xcoins.io? I get the impression that it’s an exchange, but you guys are doing things a little differently. Could you explain a little about how xcoins.io works, and what separates you from other exchanges like say Coinbase or Gemini?

Sergey Nikitin:  xCoins is the leading destination for instant access to bitcoin . XCoins is one of the qucikest and easiest ways to get bitcoin and has one of the highest paying affiliate  programs in the world that pays in bitcoin.

We are different in two ways:

  •  From the client’s perspective, we are quicker and we accept payment methods such as credit cards and even PayPal.
  • From the business model perspective, we are a marketplace as opposed to an exchange. In other words, we do not sell bitcoin. Instead, we have users, who provide bitcoin to other users.

BitcoinDood:  Getting set up on an exchange in the U.S. can be a daunting task. Do customers have to get verified before they can use the service? How does your verification process work, and after signing up, how fast can a user begin buying and selling?

Sergey Nikitin: It takes about 30 minutes for first-time users. The subsequent transactions are instant. If you’re signing up for the first time at xCoins, you will need to upload an ID and a selfie while holding your ID with xCoins and the date written on a piece of paper.   This is then sent to our approval team that does a detailed yet rapid cross-check of necessary information.  While the speediness of our verification system is a huge advantage for new users and something very valued at xCoins, we do take security very seriously, and make sure we only approve individuals that have passed our verification criteria.

BitcoinDood: Reading over your faq, your company accepts major credit cards, as well as ACH and PayPal. Many bitcoin exchanges are leery about dealing  with credit card companies and PayPal out of fear of chargebacks where the customer disputes the charge and the credit card company refunds their money. Does xcoins.io protect its users from the chargeback problem? Also, are there any benefits the customer might receive by using their credit card?

Sergey Nikitin: The main benefit of using a credit card or PayPal is that it is possible to get bitcoin instantly, as opposed to waiting a few days for ACH (bank transfer).

The core competency of our company is mitigating the chargeback risks. In fact, we are so confident that our users, who provide bitcoin, will be protected from them that we even have a profit margin guarantee, which means that we will reimburse a user out of our pocket, if his/her profit margin falls below 50% with us. No one else in our industry or anywhere else for that matter offers anything similar.

BitcoinDood: OK, lets say I’m a first time user. I sign up on xcoins.io, go through the verification process and decide to buy some bitcoin. Could you give us a brief summary of the process?

Sergey Nikitin: That’s the great thing about xCoins!  It’s super easy and convenient.  You enter the amount of bitcoin you would like to receive and then our alogrithm does its magic.  The bitcoin instantly appears in the user’s wallet, after he makes the payment.  Simple as that.  The ease and convenience of getting bitcoin is what xCoins is known for.

BitcoinDood: From what I read, the selling process seems a little different than the average exchange as well. I logged into the site and didn’t find an order book with buy and sell walls like most exchanges offer. Could you explain a little about how the selling process works and might differ from other exchanges?

Sergey Nikitin: That is correct.  xCoins is not an exchange, we are a Peer to Peer Marketplace.  Users can give their bitcoin to other users and receive a high premium of 15% for each transaction.

BitcoinDood: I see your exchange also  offers a referral program. My readers and
I are always interested in ways to earn extra bitcoin. How exactly
does the referral program work? Do you payout in bitcoin?

Sergey Nikitin:  You can earn money in three different ways. They can refer borrowers, lenders, or other affiliates (also called sub-affiliates) to the site. The commission is calculated as percentage of the xCoins loan origination fee, which can be 5% or higher of the transaction amount. Commissions are paid instantly in bitcoin to the xCoins wallet, and all affiliate commissions are paid for the lifetime of the customer. All you have to do is  sign up for an xCoins account to start referring clients. It only takes a few minutes. No approval needed.  Then you just refer users, and once they place a transaction, you receive the commission!

BitcoinDood: Well that covers just about all my questions. Thanks for being the
first exchange to be interviewed by The Dood. I really appreciate your time. Do you have anything you want to add that wasn’t already addressed in the interview? Any company news, promo offers or special features we haven’t talked about already?

Sergey Nikitin: Glad you asked!  Now we have an ACH Payment method in select states, which allows getting bitcoin for only 1.5% fee. User can also instantly add their bank account payment method!

BitcoinDood: I always end my interviews with pretty much the exact same question. Cryptocurrency is a fairly new industry that seems to be growing by leaps and bounds every day. If you had a crystal ball in front of you, what do you think we would see in the future for
cryptocurrency in general? Any thoughts, predictions, or trends you could share about the future of cryptocurrency and the direction the industry may be heading in?

Sergey Nikitin: Sure. We will see significant changes in many aspects of our lives because of cryptocurrency and blockchain technology in general. Banks will lose the monopoly on financial services. The financial services will become peer-to-peer, such as lending for example. There will be less financial fraud! Bitcoin is irreversible, plus there will be smart contracts. There will be less other type of fraud, as important information, title deeds for example, can be stored on blockchain. Finally, all goods and services will be cheaper in the future because of cryptocurrency, as it has smaller processing fees and there are no chargebacks. So, the technology will profoundly benefit everybody.  We are living in an exciting time.

Thanks to Sergey Nikitin for taking the time to answer The Dood’s questoins. The Dood wishes him and the entire xcoins.io team the best of luck on this project and all their future endeavors.

If you’re interested in finding out more about xcoins.io you can check out their website here.



The Dood is currently not affiliated with xcoins.io in any way. I may become involved in the affiliate program sometime in the future.  Please do your own due diligence before sending money or bitcoin to any company. The Dood has never used this service. I met the xcoins team on twitter, we got to talking and they agreed to do an interview  If you currently use xcoins.io or have in the past, please feel free to comment and tell us about your experience. Thanks for reading and happy trading everyone!

Coinwallet.co Is Closing.

Shortly after writing my review about Coinwallet.co the company suffered a data breach and although they didn’t suffer any losses decided it might be best to close the service. They’ve asked anyone with coins in their wallets to remove them as soon as possible. The site will close its doors May 1st of 2016 . Here’s a screenshot and a link to the message.

If anyone is interested in taking over the project you can contact them at

coinwallet co is closing

Coinwallet co closing notice found on their website.