XinFin Network (XDC) Price

XDC

Buy

Before trading any crypto asset, it is important to understand the risks. This overview summarizes certain risks associated with this asset. No securities regulatory authority has issued an opinion regarding this asset, including an opinion that it is not itself a security and/or derivative.

Investors in Canada are reminded that no securities regulatory authority or regulator in Canada has assessed or endorsed any Crypto Contract or Crypto Asset made available through the Uphold Platform.

Token Description & Project Background

The XDC Network (formerly XinFin Network) is an interoperability-geared, proof-of-stake  Layer-1 blockchain that leverages its public/private hybrid architecture to allow governments, banks, companies and other entities to discreetly connect with one another as well as to the wider crypto ecosystem. 

Its overarching use case is centered on international trade finance, specifically making capital exchanges among institutions much more fluid.

In 2017, XDC was launched by XinFin, a blockchain development firm cofounded by Ritesh Kakkad, a well-known tech entrepreneur with experience in cloud computing, and Atul Khekade, an engineer who helped build a blockchain network on behalf of a consortium of Asian banks. 

XDC is the network’s native currency. It powers/secures the network by way of validator staking. Consensus is reached via a delegated proof-of-stake (dPoS) mechanism. Thus, XDC is considered extremely energy efficient and scalable for commercial-grade use; it’s also global, open-source and Ethereum Virtual Machine (EVM) compatible.

Risks of XDC

Like an investment in other crypto assets, there are some general risks to investing in XDC. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform,   please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in XDC is subject to the following specific risks:

  • The Layer-1 blockchain space faces significant competition. Any potential success will depend on the extent of XDC’s adoption by enterprises and developers. 
  • Similar to Ethereum, XinFin raised capital with an ICO and developed into a decentralized community run project that no longer relies on significant managerial efforts. The success of the network is therefore dependent on the global community of miners and developers contributing to the network.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with XDC. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The XDC community and core team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of XDC have no recourse to XDC’s founders, current team, core developers, or Uphold if XDC declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing XDC on the Uphold Platform, Uphold performed due diligence on XDC and determined that XDC is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of XDC, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of XDC.
  • Marketing materials put forward by the XDC social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with XDC, including any code defects, security breaches and other threats concerning XDC and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with XDC, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of XDC. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 2, 2023.

How to buy XinFin Network (XDC)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Get more coin for your coin

0% withdrawal fees

Low spreads

Learn more