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....
I am not referring that online wallets are safe - I am myself a holder of a hardware wallet - but Xapo gives also the same securities as a cold storage viewed from the perspective of the storage. Hardware wallets are the best way to hold BTC aside online, but they are not fully protected against failure of the hardware, fire/damages and incompatible software. Let's say as a worst case, a fire burns the house down along with the recovery key and the hardware wallet, nothing remains of your BTC holding while the BTCs in the online vault still remains. Besides that, I'd preferably use an offline wallet rather online wallet but each of them has advantages/disadvantages.
