The XREX wallet is the official cryptocurrency and fiat wallet of XREX, allowing you to access BTC, TWD, USDT, Ethereum, and more. It securely stores your assets and enables participation in several projects vetted by XREX’s team of world-leading experts in cybersecurity, fintech, compliance, and cryptocurrencies.
With the XREX wallet, you can deposit, withdraw, transfer, convert, or diversify your portfolio through an intuitive interface. The wallet is supported on both the XREX app and the exchange website.
This article will guide you through the wallet interface on the app and answer common questions from XREX users, ensuring you have the knowledge to operate it with ease.
What are net assets and how are they calculated in my wallet?
Net assets represent the actual value of what you own in your XREX wallet, calculated by subtracting any debts (like loans or margin trading) from your total assets (everything you own and assets you have). This figure tells you how much of your assets are truly yours, after accounting for any outstanding debt.
How are total assets calculated?
The total assets figure represents the cumulative value of all assets held in your XREX wallet, displayed as the USD (INR, TWD) equivalent. This total value is calculated by summing up the worth of each individual asset. Unlike net assets, total assets include any current debts you may have, such as loans or amounts owed from margin trading.
What does 'available' mean?
When we refer to 'available', we are talking about all the available assets in your XREX wallet that are readily accessible and can be utilized at any given moment. These assets are not currently locked or held up in any way, making them fully available for transactions or other financial operations.
What does 'locked' mean?
'Locked' refers to those specific assets in your XREX wallet that are currently tied up in trading or other financial services. They are called 'locked' because, at this moment of time, they cannot be used or accessed for any other purposes. This could be due to a variety of reasons such as ongoing trades, pending transactions, or certain financial services requirements.
How do different transactions affect total and net asset calculations?
To help you better understand your XREX wallet, we'll look at several examples. These will show how different transactions can change your total and net asset figures, making it easier for you to keep track of your assets.
Example 1: Spot Trading ETH with USDT
You buy 2 ETH using 6,000 USDT when 1 ETH costs 3,000 USDT each.
Total Assets: Remain largely unchanged as the value of the purchased ETH replaces the spent USDT, with a slight reduction due to applicable trading fees.
USDT Balance: Decreases by 6,000 USDT, used to buy ETH.
ETH Balance: Increases by 2 ETH.
Net Assets: Remain largely unchanged as there is no creation of new debt; the assets have merely been swapped, with a slight reduction due to applicable trading fees.
Example 2: Secured Loan Collateralized with BTC
You have 10,000 USDT and decide to borrow another 10,000 USDT to buy 1 BTC priced at 20,000 USDT.
Total Assets: Increase by 10,000 USDT since the borrowed funds allow you to acquire an additional asset. The total assets now amount to approximately 20,000 USD.
USDT Balance: Becomes zero after buying BTC.
BTC Balance: Increases by 1 BTC, now valued at 20,000 USDT.
Debt: Increases by 10,000 USDT (the amount borrowed).
Net Assets: Remain unchanged initially because the value of the newly acquired BTC offsets the borrowed amount. However, this value can change if BTC's price fluctuates.
Example 3: Margin Trading with 3x Leverage (Shorting BTC)
You decide to short 0.1 BTC when the price of BTC is 60,000 USDT per BTC.
Collateral: You place 2,000 USDT as collateral.
Leverage and Debt: Using 3x leverage, you borrow 4,000 USDT to short the equivalent of 0.1 BTC.
Total Assets: Increase by 4,000 USDT to 6,000 USDT, reflecting the borrowed funds added to your total assets.
Debt: Increases by 4,000 USDT, which is the amount borrowed to open the short position.
Net Assets: Remain unchanged initially at 2,000 USDT, since the increase in total assets due to borrowing is offset by the equivalent increase in debt. However, the net value can change if BTC's price fluctuates, affecting the value of the short position.
What does "Assets" refer to in my wallet?
"Assets" in your wallet is a section where you can see all the different assets supported by the XREX wallet. Here you can see the value of all the holdings you have, including cryptocurrencies like Bitcoin (BTC), fiat currencies like USD, and any borrowed assets such as USDT.
How does the value of my assets relate to "Total Assets"?
The value of the different assets in your wallet equals the "Total Assets" displayed. This includes all your holdings, whether they are in cryptocurrency or fiat, and any assets you've borrowed.
What is the "Portfolio" section in my XREX wallet?
The "Portfolio" section categorizes your assets based on the products or services they are associated with.
What is the definition of Margin value in the Portfolio section?
The margin value represents the investment amount, which is the sum of collateral used in margin trading. It also displays the unrealized Profit and Loss (P&L) associated with your margin positions.
Example for how the Margin value is calculated: If you collateralize 100 USDT to long BTC in margin trading and the BTC price remains unchanged, the value will approximately equal to 100 USDT (the worth of BTC minus the debt). If the BTC price increases, the net asset value goes up accordingly, and vice versa.
What is the definition of Grid bot value in the Portfolio section?
The Grid bot value represents the investment amount, which is the sum of the total investment amount used in grid bot trading. It also displays the total Profit and Loss (P&L), including both unmatched and matched P&L.
Example for how the Grid bot value is calculated: When grid bot is used in spot trading, where there are no liabilities, as the total value of grid bots is fetched.
What is the definition of Earn value in the Portfolio section?
The Earn value represents the sum of the total locked value in the service, indicating the amount of assets currently being used in earning activities.
Example for how the Earn value is calculated: If you're participating in Earn projects, the value would represent the total locked value in the service. This can include assets locked for DeFi staking and/or XREX Rewards.
What is the Secured loan value in the Portfolio section?
The Secured loan value represents the sum of the collateral value associated with any secured loans you've taken from the platform. This service allows you to collateralize cryptocurrency assets like BTC or ETH to access liquidity without selling your holdings.
Example for how the Secured loan value is calculated: Suppose you collateralize BTC valued at $10,000 to secure a loan. Based on your chosen loan-to-value (LTV) ratio of 50%, you'd be eligible for a loan amount of $5,000 USDT. In this case, the Secured Loan value in your portfolio would be $10,000, representing the collateral value.