Xapo is not your typical digital wallet, but it is one of the most trusted Bitcoin (BTC) cold storage wallets. The wallet has made a name for itself for providing top-notch security and convenience that Bitcoin holders cherish in the sector. In addition, it has simplified the process of acquiring, transacting, and managing Bitcoin.
Cold Storage Vaults
In the first half of the year, the startup network made headlines after it began storing Bitcoin on a mountainside in Switzerland. Deep inside the Swiss mountains is where the startup has found fortress for its cold storage services.
Ever since it moved from California, the startup has expanded its footprint to five continents. It has also enhanced its handling capacity to include coins from both private and institutional investors.
Signing up for an account is the first step to gaining access to Xapo’s storage services. Verification of an account should pave the way for one to gain access to its vaulted wallet. The wallet, in this case, acts as a checking account while the vault doubles up as a savings account.
The wallet is an ideal storage facility for bitcoins used in day to day spending. The vault, on the other hand, is an ideal storage facility for funds that don’t have an immediate use case.
Xapo Fees
While the Xapo Vault and Wallet are free to use, there are small fees depending on transactions. Xapo charges a standard fee of 0.0000024 BTC when transferring bitcoins to an external address. For expedited processing, paying a higher priority fee of 0.0000157 BTC will come into play.
Incoming Bitcoin transactions of less than or equal to 0.00000849 BTC are subject to a processing fee of 0.00000566 BTC. No fees apply to deposits of more than 0.00000849 BTC. The costs of sending transactions via the Bitcoin network are constantly changing. That said, processing fees on Xapo Wallet may also change from time to time.
Internal Bitcoin transactions between Xapo accounts, on the other hand, are not subject to any processing fee. Xapo only accepts Bitcoin deposits and does not offer support for other cryptocurrencies. Xapo makes it easy for people to access their Bitcoin holdings to buy, transact and spend. With no delays or geographical limitations, users can access their holdings regardless of location.
Accessibility
By linking the wallet to a Xapo Card, which is the world’s first Bitcoin debit card, users stand to enjoy one of a kind service. The integration means people can now spend their Bitcoin holdings at all online and offline establishments that accept VISA cards.
In addition to the Xapo Card, there is also a mobile app that people can use to access and spend their holdings. The Xapo Mobile app is currently available for both iOS and Android Devices. The firm is, however, yet to add support for Windows mobile phones and Blackberries.
Xapo is also running a referral program that allows people to earn bonuses by referring people to the wallet. Upon referring a friend, one stands to earn $10 USD for the first $100 USD deposit made.
Recent Tweet
Even better. The wallet creator wants to improve upon their product and offer better service to their customer. Don’t believe me? Just check out this recent tweet from their official handle, @xapo:
We're looking for people to take part in paid research sessions.
Your input can help us make Xapo even better!Interested? Details ?https://t.co/3aVBFWfIb5
— Xapo (@xapo) September 19, 2018
That’s pretty cool! They want to offer money to their customers to improve their products. Xapo doesn’t appear to be a company who want to maintain the status quo; they want to be the best.
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This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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