Bitcoin Forum

hello there

i have been reading threads of Bitcointalk forums lately before making any decisions. but sadly I have to state my experience with xapo

I initiated an upload using my card on xapo before 4 days, the amount successfully uploaded and came into my account, but the withdrawal process is taking forever, I purchased it when bitcoin was around $20k and now it's between 18.xk, its a great loss. not only that It is taking forever to reply XAPO, and what is the use of selecting high priority option when it's going to take ages. it is still under approval. very Unprofessional

EDIT: Just converted the bitcoins into USD for time being to avoid any further loss, lost $200 in this entire process as of now! still waiting to hear from XAPO.

With bitcoin's recent price increase, a lot of bitcoin related services has been receiving a high traffic and it can cause a much slower time of response from their support compared than usual. This surely applies to xapo as it is as popular as blockchain.info to newbies. Since you've already sent a support ticket, there's noting you can do except from waiting.

Next time, don't ever use a web wallet especially when they don't give you an access to your private keys. I recommend these:

You shouldn't panic while bitcoin will correct like this, you should now buy back bitcoin at current dumped price which is also a new floor/bottom price for next pump.

Other alts have already started to dump so those money might flow back to bitcoin.

Bitcoin transaction fee is at sky right now because miners have started to mine bitcoin cash and left bitcoin mining.

Bitcoin needs to find a way to come out of this issue faster.

Nothing you can do apart from playing the waiting game. My personal experience with Xapo was extremely bad, so bad that i had to request my account to be closed because i didn't want to verify myself and they never said anything about verification in the first place.

And even when I requested that my account be closed, after i withdrew all my money, it took them like 3 days to respond to my ticket.

So they're definitely not very responsive based on my personal eperience and i have on idea why your transaction is held up. Perhaps they are reviewing for a large withdrawal for safety or something. But definitely no need for this long of a delay...

An absolutely disgusting service. I can't withdraw my funds either.

Update:

I had to wait 18 days for the withdrawals, then after a month, i gave another shot. it was working fine for 2 transactions than again bhoom

experienced same (validating) issue 3 more times. After the 2nd experience, the 3rd and 4th withdrawal delays were back to back. 2nd took 3 days, and then 3rd and the 4th delay was 2 days. there is no use of selecting high fee for fast withdrawal.

(Note: this delay was not from blockchain confirmations. Xapo team were not releasing the withdrawal by their side) once Xapo accepts/validates withdrawal, then the additional standard blockchain confirmation time is 30 to 60 minutes that too because of the high withdrawal fee. (when Xapo takes days to release the withdrawals then paying high withdrawal fee is a joke) (The weird part is this experience repeats during the bitcoin price drops (It's not a scam (yet), but definitely BTC kidnapping)

I will be avoiding them until they fix this issue.
(but as per their chat support' this is not an error/issue, it happens auto by their security software, so they can't promise instant withdrawals for future transactions).