Your thoughts on Xapo Wallet

[affigne]

Hey guys,

Currently I'm using Xapo as my main wallet. Kinda works ok me, but I'd like to read your thought on this wallet and if there's any better.

Looking forward to your comments.

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[Cindy1983]

Too much fee )) I never use any wallet that I have to pay both deposit and withdrawal fee and Xapo is the only one ) I've tried Xapo for few months but never use it once again. If I do any mini task in this forum and receive small amount of Bitcoin about 0.0001 - 0.0003 it's only enough to pay for Deposit fee and I received nothing ). After that I changed to coinbase web wallet and I feel it's much better that Xapo.

[24core]

I recommend either electrum or exodus wallets.  I have used both for a long while and I have yet to have any issues.  Solid design and excellent to store your btc.

[sunsilk]

Hey guys,

Currently I'm using Xapo as my main wallet. Kinda works ok me, but I'd like to read your thought on this wallet and if there's any better.

Looking forward to your comments.

The only concern of everyone with xapo now is the fee. Their fees are now even higher and you can't start a small transaction with it because your small balance that you'll send will be eaten by their fees.

They still have some good service like the xapo debit card but it's now limited to those people that wants to use, the location of usage is only limited.

And if you want to know more about their fees try to read it https://support.xapo.com/how-much-does-it-cost-to-send-or-receive-a-transaction

[bitbunnny]

I use it as additional wallet because I have Xapo debit card so there I store Bitcoins I have the intention to spend. I use it for about two years now and have no remarks on the services or security. Also with the card I never had any issues. And if you transfer the coins to some else Xapo wallet there is no fee and for some time now they also have the feature that you can control the fees you use for external transactions. But to use it as a main wallet it might be a bit expensive.

[Xavofat]

Xapo is alright if you want a debit card, but it's not much of a wallet since you don't have control over your coins.

You also don't seem to have some of the basic functions of an acceptable wallet, like the ability to customise your transaction fees.  It's crazy that a wallet would be charging for receiving and sending when it could just act like a normal wallet and allow you to handle your coins however you want.

If they really want a user friendly experience, they should just warn you when you start accepting microtransactions.

[swogerino]

Xapo is a web wallet. All web wallets requires from the user to connect to their website in order to make payments or to check balance and anything else related to a bitcoin wallet. People can think that this is convenient as you can open your account anywhere without needing to use the seed HD wallets require to restore them if you need to use them far away from home. Now the problem is solved, Electrum for Android can be used anywhere on the go and without needing to rely on a third party in order to send or receive money.

I suggest Electrum for desktop wallet and Electrum for Android as your mobile wallet. You don't need anything else to have a full experience from a bitcoin wallet. Maybe Electrum is not that user friendly regarding the GUI but still understandable even for newbies.

[Chrisdstar]

I don't know much about it, but I think blockchain is still the best

[xskl0]

You don't have control of your private keys. Move to a hardware wallet if you can

[setifien19]

If I have to choose the right wallet ,then I won't pick up xapo as the best one , I'd prefer to use coinbase ( or even freebitcoin account as wallet ) since fees aren't that expensive and relatively good security

[bubblebit]

Before:
I always use this for we can transfer fund from faucet sites even just a single satoshi without fees. It easy to use and had no problem for it has instant transaction speed. It is transparent and hasn’t vault that can protect your bitcoin in any case. They’re security is still works amazing.

After:
When they change the transaction fees from free to tremendously high that you will be coursing if you have remaining funds on it. Everyone or maybe most of they’re clients leave them and that includes me. They’re popularity dissolve like an ice that is set on fire. That fast and I don’t know how they come up with that decision.

Conclusion: They can be back in old days if they want to but if only they get rid of that high transaction fees.

[blockman]

I don't know much about it, but I think blockchain is still the best

You still don't say that to blockchain.info since it is a web wallet and I don't mostly depend all of my bitcoins on web wallets. Still it's better for you to have a desktop wallet, xapo and blockchain.info wallets are good but don't try to put most of your bitcoins there as it is risky.

You don't have control of your private keys. Move to a hardware wallet if you can

Yes this is the risk that I'm telling, so if something did ever happened to your web wallet or to xapo and their bitcoins were stolen, sadly you can't recover it anymore.

[1Referee]

You don't have control of your private keys. Move to a hardware wallet if you can

By reading through all of the comments here, people don't seem to care since it's the convenience of an online wallet they choose over the security of offline storage. It likely means that 1) they don't care about storing their coins offline since they are going to cash out their coins relatively soon after receiving them. Or 2) they seriously believe that online wallets are a good way of storing their coins, which if that's really the case, it's horrible and delusional. As always, people only learn when they end up paying the price for it, that's the hard reality.

[jhenfelipe]

I've used XAPO before, no problem at all but I thought more of security so I switched to Electrum desktop wallet. TBH Hardware wallet is the best I could think of too but since it's a bit pricey you could use a desktop or any wallet that gives you control over your private keys (as mentioned by few above).

These might be helpful:
https://bitcoin.org/en/secure-your-wallet
https://bitcoin.org/en/choose-your-wallet

[tabas]

It's actually working but everyone's concern here is about their fees even how good they are if they will not consider the fees that everyone is affected with it, still we will stick to the web wallets that are allowing us to pay at low priority with lower fees. I hope they will do a comeback and will announce that everyone will be shocked and that will be about their fees switching back to the cheaper ones again.

[samlaode]

I've been using their services for about some years and good experience so far. I don't like to put all eggs in one basket, in addition to xapo I also use more coinbase and blockchain.

[mobnepal]

Don't use them if you want to store large amount of bitcoin there as they have hidden KYC policy and they might block your wallet at any point.
Either use electrum or jaxx as they are SPV wallets where you will have full control over your bitcoin and no any third party have access to your bitcoin.

[terrific]

Xapo is only good for bigger transactions to fit up their high fees, don't transact with smaller fractions of bitcoin to them.

I've been using their services for about some years and good experience so far. I don't like to put all eggs in one basket, in addition to xapo I also use more coinbase and blockchain.

I still like them for their service but it's not worth using them anymore with their higher fees. Blockchain.info has adjust their fees and many came back using them.

Don't use them if you want to store large amount of bitcoin there as they have hidden KYC policy and they might block your wallet at any point.

Yes I have read someone complaining about blocking his accounts even he did comply with their KYC policy.

[Salmen]

After reading some news about Xapo that they store the BTC in a bunker which was used during the World War 2, I believe that Xapo is for anyone who want to store large amounts of BTC like a cold storage. Despite, they have high transaction fees which raise a problem for most people who do not store too much BTC and are dependable on sending & receiving.

[richardsNY]

After reading some news about Xapo that they store the BTC in a bunker which was used during the World War 2, I believe that Xapo is for anyone who want to store large amounts of BTC like a cold storage.

What an utter nonsense. People should at all times avoid storing large numbers of coins in any online wallet service. If you want a proper form of cold wallet storage, buy yourself a Nano Ledger S hardware wallet, or a Trezor hardware wallet -- they don't cost a whole lot of money, and the best thing is that you can use Bitcoin to pay for it. It's a good way to invest your greatly in value increased coins -- security should at all times be top notch. People preferring online wallet services over their own offline storage method are just delusional. It's quite shocking that a legendary member has such a noobish way of thinking....