What are the benefits of a Xapo Wallet?

[Wicidith]

I am new to Bitcoin and I keep seeing Xapo Wallets mentioned in various places, fairly often. However, I just can't figure out what their benefits are or why someone would want one as opposed to any other type of wallet. Could you please enlighten me? Thanks!

[The Sceptical Chymist]

In my opinion, there are absolutely no advantages to having a Xapo wallet.  In fact I'd be willing to bet that folks who know more about bitcoin than I do would say that a Xapo wallet only has disadvantages.  If I'm not mistaken you don't control your private keys, but I could be wrong about that.  I really don't trust any online wallet anyhow--but I do have a Xapo for the faucets that deposit instantly to it.  But that's it.  I keep no bitcoin in my Xapo wallet.

[tobacco123]

Xapo wallet maybe used for collection of rewards from faucets, compare that the micropayment services that only pay out when you reach a threshold limit.

Other than that, no significant different between Xapo and other wallets.

[MyBTT]

Barely any faucets send payments to Xapo wallet. Just use like blockchain or something like that.

[SFR10]

Just like what The Pharmacist mentioned and to add up to it, some faucets only pay to Xapo wallets (only few of them out there as compared to those who pay to Faucetbox) and as result, their reward is a bit higher but also have this in mind that Xapo does have some countries on restriction or rather blacklist and when you use it, due to your geographical location, there is a chance that your accounts gets blocked in the future if the country your in, fall in to that list all of a sudden so it would be advisable to use blockchain.info wallet instead.

[Kakmakr]

Most people do not have a Xapo wallet, so their comments will be uninformed. If both parties in a transaction have a Xapo wallet, the transfer of any amount between them <off-chain> will be free. This is why most faucet operators use this wallet, because it is the ideal solution for micro payments.

They have a debit card option too, which gives them a bit of a edge over other wallet providers. The security is also very good, but I would still suggest someone to invest in a hardware wallet for bigger amounts of bitcoins.  

[OnTheMF]

Most people do not have a Xapo wallet, so their comments will be uninformed. If both parties in a transaction have a Xapo wallet, the transfer of any amount between them <off-chain> will be free. This is why most faucet operators use this wallet, because it is the ideal solution for micro payments.

They have a debit card option too, which gives them a bit of a edge over other wallet providers. The security is also very good, but I would still suggest someone to invest in a hardware wallet for bigger amounts of bitcoins.  

Thanks for the information brother, I was also thinking what will be benefits from Xapo Wallet. when we have to do the transaction for micro payments it will be best. please let me know what is the process to get a hardware wallet to keep big amount of bitcoins there.

[DimensionZ]

I heard Xapo stores your bitcoins in cold storage in something like a couple of bunkers around the world but I am not sure if it's 100% true

[justspare]

Barely any faucets send payments to Xapo wallet. Just use like blockchain or something like that.

Yeah I really don''t know why people even use a xapo wallet. An online wallet like coinbase is better.

[pooya87]

the only benefit of XAPO wallet that i can think of is the option to gather faucet dust, since there are few faucets that pay directly to your XAPO wallet. and also the fact that you are using an online wallet (if you count that as a benefit).

[pjsonowal]

Well it depends .If you are a normal bitcoin user and dont hit up faucet then no use of using that site.Most of the faucets are linked up with xapo.
One thing i like the most is XAPO Debit card which is very useful .The reason i like is that because it is the only one which provides debit card in india.

[Amph]

the only one is that the security is handled by them and not by you, if they have some form of insurance this can be good, otherwise not so much, since it would be like riskying your coin like they are on your desktop, if not worse

so only use webwallet with insurance like coinbase for example, they cover your money vs thief/hacker etc...

[MrGodMan]

I heard Xapo stores your bitcoins in cold storage in something like a couple of bunkers around the world but I am not sure if it's 100% true

I didn't heard about it . and if xapo wallet is used for cold storage then it will be good. but without confirmation we can't say anything about it at present.

[pooya87]

I heard Xapo stores your bitcoins in cold storage in something like a couple of bunkers around the world but I am not sure if it's 100% true

I didn't heard about it . and if xapo wallet is used for cold storage then it will be good. but without confirmation we can't say anything about it at present.

doesn't matter how they are storing bitcoin. you should only use online wallets if you really have to and only with small amounts.

i don't really see any difference between xapo as a wallet and all those exchangers that claimed they got hacked and people lost their money. they were all claiming to have their bitcoin in cold stored bunkers at first., now look where that got them.

[European Central Bank]

I'm not putting coins into any wallet that has 'terms and conditions'. Pain lies down that road. I've got the tools to look after them myself and I don't have to satisfy no one else.

[Laosai]

The only benefit I can see was it doesn't charge any fee when sending bitcoin to external addresses. It is also essential to faucet lovers cuz most of the highest paying faucets only pay directly to xapo wallet.

[ranochigo]

the only one is that the security is handled by them and not by you, if they have some form of insurance this can be good, otherwise not so much, since it would be like riskying your coin like they are on your desktop, if not worse

so only use webwallet with insurance like coinbase for example, they cover your money vs thief/hacker etc...

You are still risking your coins just like a desktop wallet. Coinbase insurance etc, does not cover hacking due to the user's negligence.
No transactions fee and that's it. Xapo and Coinbase are useful for users who receive lots of transactions and do not want to pay a huge fee to move everything. Eg. faucet users. Xapo, being a shared wallet, does not allow users to sign message using their addresses and does not allow users to control their private key. Xapo thus have the rights to freeze your coins and can even monitor your spending habits and Xapo users are no longer pseudonymous.

[Rizky Aditya]

Barely any faucets send payments to Xapo wallet. Just use like blockchain or something like that.

Yeah I really don''t know why people even use a xapo wallet. An online wallet like coinbase is better.

I only use a coinbase wallet and no xapo wallet. There is no point for it unless you do a lot of faucets.

[~Bitcoin~]

I am new to Bitcoin and I keep seeing Xapo Wallets mentioned in various places, fairly often. However, I just can't figure out what their benefits are or why someone would want one as opposed to any other type of wallet. Could you please enlighten me? Thanks!

I mostly use blockchain.info wallet rather than xapo as it is faster and easy to understand. The only service i use is mobile topup via direct bitcoin balance.

[onlinedragon]

I am new to Bitcoin and I keep seeing Xapo Wallets mentioned in various places, fairly often. However, I just can't figure out what their benefits are or why someone would want one as opposed to any other type of wallet. Could you please enlighten me? Thanks!

I mostly use blockchain.info wallet rather than xapo as it is faster and easy to understand. The only service i use is mobile topup via direct bitcoin balance.

So far the most transactions are fast processing. I use XAPO most of the time and so far I am really happy with them.