XT.com

What is XT.com?

Founded in 2018 and headquartered in Dubai, XT.com is a global-centralized cryptocurrency exchange with over 7.8 million registered users, servicing more than 1 million monthly active users across 40+ markets :contentReference[oaicite:8]{index=8}. XT.com supports 800+ tokens, 1,000+ trading pairs, and offers a full suite of services including spot, futures, margin, copy trading, OTC, structured products, and an aggregated NFT marketplace :contentReference[oaicite:9]{index=9}.

The platform emphasizes institutional-grade security with 2FA, cold storage, multi-sig wallets, and continuous monitoring—demonstrated by its prompt response to a November 2024 breach and deployment of Merkle-tree proof of reserves :contentReference[oaicite:10]{index=10}. XT.com also delivers deep liquidity, low trading fees, and diverse order types (limit, icebergs, stop), while offering simplified UX for retail investors.

Key Features

• Diverse Trading Options: Offers spot, grid, futures (USDT-M & Coin-M), margin trading up to 125x, OTC, copy trading, and structured savings products :contentReference[oaicite:11]{index=11}.
• Security Controls: Implements 2FA, cold storage, multi-sig infrastructure, bug bounties, and pen-testing. Post-breach improvements include Merkle-reserves :contentReference[oaicite:12]{index=12}.
• High Liquidity & Low Fees: Supports large trading volumes with competitive taker/maker rates, and uses aggregated price feeds to reduce slippage.
• User Tools & Mobile Access: Includes mobile/web apps, copy-trading socially integrated workflows, and responsive UI for Pro and Basic users :contentReference[oaicite:13]{index=13}.
• Global Compliance: Registered under BZ Limited, holds MSB registration, and enforces KYC/AML, with presence in Singapore, Europe, and the Middle East :contentReference[oaicite:14]{index=14}.

Accounting & Reporting Benefits

• Real-Time Trade Ingestion: API/CSV feed includes trade IDs, pairs, price, volume, margin details, and timestamps—ideal for cost-basis, WAC, and digital asset P&L.
• Futures & Margin Reporting: All leveraged positions, funding fees, and liquidation events are tagged correctly for finance tracking.
• Expense & Loss Tracking: Margin interest, fees, and withdrawal costs appear as line-item expenses in ledger software.
• Security Event Logs: Balance adjustments, reserve updates and breach-response records are captured in accounting history.
• Enterprise Integration: Supports exports compatible with ERP platforms like NetSuite, QuickBooks, Xero, and Sage via Cryptoworth integration.

With deep liquidity, advanced financial instruments, and institutional-grade security enhancements, XT.com is positioned as a full-service platform for both retail and institutional clients—and its data is fully compatible with Cryptoworth’s accounting software for robust reporting and reconciliation.

Frequently Asked Questions

Can Cryptoworth calculate cost basis from XT.com trades?

Yes. Cryptoworth ingests spot, margin, futures P/L, and funding fees from XT’s API/CSV feeds—including timestamps and rate data—to calculate weighted average cost and supply structured journal entries.

Are future and margin positions tracked for P&L?

Absolutely. Cryptoworth imports each futures or margin trade, funding, and liquidation event, enabling continuous unrealized/realized P/L reporting under GAAP/IFRS standards.

How do security events impact accounting records?

XT.com’s post-breach reserve adjustments and Merkle‐proof rollouts are captured as corporate expense or equity events. Chronological logs are synced to Cryptoworth for transparency and compliance.

Does XT.com support enterprise ERP workflows?

Yes. Cryptoworth maps XT.com export formats into generalized ledger entries compatible with ERP tools like NetSuite, QuickBooks, Xero, and Sage—simplifying month-end close and audit prep.