Xapo Question

[BTCCalifornia]

Hey Guys and Gals,

Long time lurker....first time poster.  

I am hoping that some of you have experience or thoughts on the insured vault program at Xapo.

I am considering moving some of my BTC out of Coinbase and to the vault at Xapo.  I'm considering this because of the increased security (maybe just perceived?) and peace of mind that comes with having my BTC insured through Xapo's vault program.  I'm just wondering if you guys think it is any more secure than what I already have in place at Coinbase?  Is the additional security and insurance at Xapo worth the fee they will charge?  

Does anyone know if Xapo actually provide you with an insurance policy that lists you and your BTC as insured?  

I do not want to print my keys and keep them in cold storage and am looking for the next safest place.  

I appreciate any thoughts or comments.

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[Baitty]

They do not offer any insurance for loss of Bitcoin I can tell you that now.

[BTCCalifornia]

What is your basis for saying that?  Of course that goes against everything they say on their website....or at least my understanding. 

[ferabytes]

Hi BTCCalifornia -- Fernando from Xapo here.

We would welcome the opportunity to store your bitcoins.  As for Coinbase, we don't comment on other companies' offerings but know that 1) secure bitcoin storage is a core of our business, not an added feature and 2) all of the bitcoins you stored in our Vault would be insured.  The only exception is if the coins were stolen due to negligence on your part.  "Negligence" is a standard of care that a reasonable person would take under similar circumstances. In other words, use 2FA, a strong password, don’t leave your pin written on your fridge door, etc.

If you want to continue the conversation feel free to ping me on Twitter (@ferabytes) or post your email and I will contact you directly.

Thanks very much.