Why do people hate Xapo?

[Y.Job]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

[keyscore44]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

[onlinedragon]

I use XAPO on mine iPhone and so far I like it didn't face any real problems so far. Also ordered there Debit card when I want to get money from any atm. There app is also really handy only point I saw the most were complaining about the customer support. They are answering really slow in the past and that is something they really need to improve.

[Arrakeen]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

So why isn't Coinbase hated as much?  Or is it?  I don't follow people's opinions on such matters, for logical reasons

[angaper]

It is not my case. I am a Xapo user and I have no problem with its platform and its concept, although I have to admit that I hate its excessive advertising, but I don't like to test too many options.

[Y.Job]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

Thanks, good to know.

[keyscore44]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

So why isn't Coinbase hated as much?  Or is it?  I don't follow people's opinions on such matters, for logical reasons

Here you have right.. Coinbase have similar way of functioning, but Xapo is in my opinion too insistent, and even spamming their services everywhere.

[cpfreeplz]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

It's very centralized where Bitcoins are decentralized. It's an online wallet, which I personally never use because of security purposes. They're the most likely wallet to have your funds stolen from. I would go with anything that's not an online wallet.

[bitbaby]

No hate but being a wallet-service-provider they don't give you access to your private keys, which is why they're considered un-safe, if tomorrow the site is down for whatever reasons, users who keep their funds there will not be able to access them, and that is what is being suggested/warned about them.

[DOGE12321]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally, I never used it.

Xapo and Bitcoin run on two opposing ideas. Bitcoin is fighting with decentralisation, but Xapo is trying to do the opposite; creating a bank in cryptocurrencies.

[DOGE12321]

No hate but being a wallet-service-provider they don't give you access to your private keys, which is why they're considered un-safe, if tomorrow the site is down for whatever reasons, users who keep their funds there will not be able to access them, and that is what is being suggested/warned about them.

The fact that BTC and Xapo are running with conflicting underlying ideas can also trigger some dislike towards Xapo.

[alani123]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

I wouldn't say that people hate xapo, it's just certain aspects of their business that are generally disliked. For example, the advertise as a bitcoin wallet but to many account verifications are required to open a wallet that it's very inconvenient to open a wallet there, they're more of a bank rather than a bitcoin wallet.

[Superhitech]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

I wouldn't say that people hate xapo, it's just certain aspects of their business that are generally disliked. For example, the advertise as a bitcoin wallet but to many account verifications are required to open a wallet that it's very inconvenient to open a wallet there, they're more of a bank rather than a bitcoin wallet.

Yes, I feel that you need to provide way too much personal info to have an account with Xapo, you have to provide your phone number, and more. I feel that this defeats the purpose of bitcoin, which is anonymity. That's one of the reasons I turned away from Xapo, I was tempted to join at one point due to all the promotions they were having.

Other than that, I think Xapo has a good interface and design.

[BitcoinSupremo]

You can download a desktop wallet and install it on your PC without any verification at all, while Xapo looking for some documents to verify you which is in 100% conflict with the anonymity of bitcoin itself, why they should know who I am and how many bitcoins I have ? Anyway I would rather stay away from any online bitcoin wallet as chances are high you may get hacked, or the wallet service may have Ddos attacks and losing your coins.

[Herbert2020]

generally i don't like them because of the fact that they are going to keep the private keys of your wallet and you only have access to your funds through their site and your account, so in case they decide to ban your account you are screwed.

[sirohige]

Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

maybe because user can't accest his privekey and he lost his money if xapo end his service. but im never hate xapo, im use it everyday for micropayment, the zero fee feature make me comfort to send small amount.

[Cyaren]

I don't really hate Xapo... I just feel like that my coins aren't secure.

The idea of that only if you own the private keys, do you own the bitcoins themselves is very important and true for me. Like, Xapo can also do a runner with all the bitcoins they have got. Even if you go to court with them, I doubt you'll get any of your coins back.

Also the verification process is pretty unnecessary. To send any coins, you've gotta verify your phone number... Why do you need to verify your phone number if you just want to send a few thousand satoshis?

They've got their upsides, though. They pay the transaction fees for you, which is always good. But still, their service isn't that different from Coinbase's.

[Y.Job]

Just to clarify Coinbase and Xapo aren't the only ones in the game there also:

CoinsBank
Circle
BitoEX
Changetip
Magnr
Coinapult

[European Central Bank]

Have a read through their terms and conditions. Sit back and feel the hate rising up and through your body.

[SyGambler]

many people from my country had troubles with Xapo , which is totally against the main purpose of bitcoin
so that's why I hate Xapo , coinbase and such other sites , the US are totally controlling them with the rules and as I said bitcoins shouldn't work like this
I tried to register in coinbase just to use their wallet services ( I don't want to use the bank thing ) , and a message popped up saying that they don't accept people in my country