I am one of those beginners whose initial choice to get my first satoshis were the faucets. At that time Xapo was instituted as the wallet preferred by beginners because it did not charge fees, allowed very small transactions and was the most popular wallet among faucet managers.
But over the course of this couple of years all those attributes that made it advantageous have been gradually disappearing and has become an expensive and especially risky wallet since Xapo is the sole owner of our private keys. The disadvantage of this matter has now come to light more than ever because it has not given us options to collect our portion of the corresponding Bitcoin Cash.
That is why I wonder if anyone in the forum still sees some advantage for which it is convenient to continue depositing our coins in Xapo?
As far as my own experienced is the basis, Im happy to continue dealing with XAPO exchange. Im not new to bitcoin anymore and knows the risk of using online wallets but unlike many other web wallets around, there are some good things that I encountered in Xapo and one of those is their ability to handle customer concern. It's not like that I have to wait for many days but I get a response in no time compare to other exchanges (especially trading platforms) that eats almost over a couple of weeks.
About the fees, then I found it high since bitcoin price is increasing but furthermore it's all about the congestion in bitcoin network so not just XAPO but every web exchanges also have some "high" fees above our what we used to be in the past.
If ever they will turned to fraud? Then up to them. This is the risk when using online exchanges as we don't know what will happened next.
