byt411
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June 08, 2015, 05:20:50 PM |
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Xapo has a long term storage service that they charge their customers for.
That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo? If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year. really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on... this is really a step backward, compared to fiat... Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays. For a normal account, interest is 0.0005% per year right now, or something like that.
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adidas
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Americans do it better
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June 08, 2015, 05:20:56 PM |
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XAPO don't earn from advertisements they earn from their premium service like highly secured cold storage, or some trading mostly newly found companies invest their money to earn the customers and takeover the market then later they find a way to earn the money
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Amph
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June 08, 2015, 07:35:56 PM |
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Xapo has a long term storage service that they charge their customers for.
That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo? If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year. really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on... this is really a step backward, compared to fiat... Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays. For a normal account, interest is 0.0005% per year right now, or something like that. yeah i know, but those are not fees on deposit, they are fees that come from their credit/debit card(when you buy one for example, you pay something, then you pay every year another additional fee to mantain that card) or comes from withdrawal but i made that post because with my bank i don't pay anything, zero on everything, thus my conmcern on that
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byt411
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June 08, 2015, 07:59:19 PM |
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Xapo has a long term storage service that they charge their customers for.
That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo? If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year. really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on... this is really a step backward, compared to fiat... Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays. For a normal account, interest is 0.0005% per year right now, or something like that. yeah i know, but those are not fees on deposit, they are fees that come from their credit/debit card(when you buy one for example, you pay something, then you pay every year another additional fee to mantain that card) or comes from withdrawal but i made that post because with my bank i don't pay anything, zero on everything, thus my conmcern on that Strange. Banks here give you some nice monthly fees, maintenance fees, deposit fees, "money storage" fees and other bullshit.
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Phildo
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June 08, 2015, 08:07:36 PM |
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don't know about them in particular, but I've found lots of bitcoin companies (especially the no-fee types) make money via the bitcoin spread. They buy a bitcoin for 200 and sell it to you for 205, etc.
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Indamuck
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June 08, 2015, 09:08:33 PM |
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For example, Xapo ... they have some minor income streams as people mentioned, but these are not 'paying the bills' anytime soon.
Xapo investors have deep pockets, and they are building a franchise for the long-term, with potentially very lucrative income streams that are not actionable yet. For example, in the future perhaps they can facilitate safe and secure, recurring micro-payments for consumers and businesses. Anyway I'm not sure what their long-term strategy is ... but I'm sure their profitability is mapped for sometime in the distant future.
Note that Amazon.com is not even profitable yet ... because they also are still 'building the franchise.' Anyway, you can see how a business like Amazon can secure a very high valuation (multi-billion USD) without any near-term prospect of profitability.
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Mikestang
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June 08, 2015, 09:20:23 PM |
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Note that Amazon.com is not even profitable yet ...
You (and almost everyone who uses Amazon as an example) misunderstand Amazon's "no profit" business model. You think they've been losing money the past 20 years? They are very profitable, they reinvest almost all of it and forgo reported profits for market share..
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Indamuck
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June 08, 2015, 09:56:23 PM |
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Note that Amazon.com is not even profitable yet ...
You (and almost everyone who uses Amazon as an example) misunderstand Amazon's "no profit" business model. You think they've been losing money the past 20 years? They are very profitable, they reinvest almost all of it and forgo reported profits for market share.. Not by any traditional measures. Amazon is not profitable, and cannot sustain indefinitely in its current state. This is a bald fact, that is plain for anybody to see in their reported earnings. Now if you want to be creative, and start calling 'free shipping' a type of 'investment' rather than expense as it is properly reported, then perhaps you can make such a statement.
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Mikestang
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June 08, 2015, 10:12:58 PM |
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that is plain for anybody to see in their reported earnings.
And you further illustrate my point that you fail to understand their business model. They will never have reported earning, they've said as much from day 1. Rewind back to 2013 and read this: http://www.businessinsider.com/amazons-profits-what-people-dont-understand-2013-10Or google "amazon profit" and you'll figure it out eventually.
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Indamuck
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June 08, 2015, 11:57:17 PM |
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I'm a professional Mike ... and I've heard it all before. Enjoy your kool-aid while it lasts.
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tedmrogers
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June 09, 2015, 01:38:04 AM |
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Just fyi -- Xapo doesn't currently charge for storage.
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SirLolicon
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June 09, 2015, 02:30:30 AM |
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They earn money from fees ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Amph
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June 09, 2015, 06:36:46 AM |
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Xapo has a long term storage service that they charge their customers for.
That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo? If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year. really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on... this is really a step backward, compared to fiat... Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays. For a normal account, interest is 0.0005% per year right now, or something like that. yeah i know, but those are not fees on deposit, they are fees that come from their credit/debit card(when you buy one for example, you pay something, then you pay every year another additional fee to mantain that card) or comes from withdrawal but i made that post because with my bank i don't pay anything, zero on everything, thus my conmcern on that Strange. Banks here give you some nice monthly fees, maintenance fees, deposit fees, "money storage" fees and other bullshit. yeah it sounded strange for me it, i'm with deutsche bank now and their card account(noo bank account it work without it, you just have your page with credentials and nothing else, to see your heritage, movements ecc...), don't know if you know about it, but it is a very good card(iban included)
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examplens
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Crypto Swap Exchange
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June 09, 2015, 09:14:48 AM |
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Xapo is for long time business. Stable operations (builds confidence) and a large customer base will give a good price for the service.
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BlackJacky (OP)
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June 09, 2015, 09:47:55 AM |
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yes, so far as I know they are not charging anything for the storage. I think like many others here... They are investing for the long-term and building up a franchise. Earning money is not the most important question for Xapo. First, they want to offer a service which has a high demand
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johnyj
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Beyond Imagination
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June 09, 2015, 10:54:18 AM |
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All those bitcoin start ups have huge amount of bitcoin holding, promoting the bitcoin service will raise the value of bitcoin, thus raise the value of their assets, the service is like advertisement
Anyway this is still a very new branch, everywhere is almost empty, like internet in 90s
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biggbox
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May 27, 2016, 01:40:09 AM |
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Can I confirm there is no transaction fee when sending out BTCs from Xapos wallet?
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1Cr9iLWm2dSGH8259VQd2wDzpkR63jGVjW
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gentlemand
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Welt Am Draht
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May 27, 2016, 12:33:43 PM |
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NeuroticFish
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Looking for campaign manager? Contact icopress!
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May 27, 2016, 12:38:22 PM |
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Hi all,
recently I had a discussion with a friend where I tried to convice him on Bitcoin.
He asked the question. How are wallets (e.g. Xapo) actually earning money? I had no real answer...can you help?
Since people keep money there they can: a. optimize the transactions - the transactions xapo to xapo will be only changes in their database - the transactions on blockchain can be sent out bulk. b. use a chunk of the money for various investments, loaning, trading (basically what the banks do with your money when they keep it). c. various services (eg vault) that cost money.
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samcoin
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May 27, 2016, 12:48:33 PM |
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All Bitcoin wallets earn money from trasaction fees which is differ from wallet to another ,for example , blockchain.info transaction fee is more than XAPO as I know , but blockchain wallet provides better and faster service than others , so its fee is higher , further more , blockchain wallet has some advertsement spaces which are not free for sure ...
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