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CryptoUnits - 1539+ Best Cryptocurrency Websites & Bitcoin Sites List of 2023!

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Cryptocurrency Forensics 🚀🌑

Xapo Bitcoin Wallet 0

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About Xapo

Launched in 2014, Xapo offers users the ability to trade and store bitcoin, as well as purchase bitcoin with fiat currencies. Supported fiat currencies include EUR, USD, and GBP. However, Xapo's services are limited to bitcoin, making it less versatile compared to other wallet providers.

Security and User Control

Users using Xapo's digital wallet must give up control of their private key. Xapo does encrypt user data, enhancing security. Additionally, users are required to provide photo identification and proof of address.

Xapo Vault

A notable advantage of the Xapo web wallet is the option to transfer funds to the Xapo vault. The Xapo vault is a highly secure wallet where funds are stored in deep cold storage on offline encrypted servers. Transferring from the Xapo wallet to the Xapo vault incurs no extra fees.

Transaction Fees

Transaction fees are applied when sending or receiving funds outside of Xapo wallets, with a fee rate of 0.2% for these transactions.

Missing Features

Xapo's web wallet lacks certain key features, such as hierarchical deterministic wallets and open-source code for transparent security assessment. Additionally, there is no multi-signature functionality.

Enhanced Security Options

Users have the option to enable two-factor authentication (2FA) to add an extra layer of security to their Xapo account.

Accessibility and Usability

Xapo is accessible via web browsers, Android, and iOS platforms. Users have praised its easy-to-use and intuitive interface.

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Pros & Cons

  • Established since 2014
  • Supports EUR, GBP, and USD
  • Option to transfer to the vault exists for greater security
  • Users can enable two-factor authentication for a greater level of security
  • Supported on browsers, Android, and iOS
  • Easy to use interface
  • Limited to only bitcoin
  • Users give up control of their private key
  • 0.2% transaction fee for receiving or sending outside of Xapo wallets
  • The code is not open-source
  • No multi-signature functionality
  • Users are required to submit personal documents

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