1 Level
40 Review
24 Karma
Review on Xapo Wallet by Aniruddh Ravel
XAPO
Xapo is an online wallet and exchange platform where you can stash and purchase coins. It starts as vault service provider but added exchange services as well. The owner of the platform is Wences Casares, who holds the position of CEO within the company. The platform is based in Zurich, Switzerland and offers debit cards as a means of payment when it comes to cryptocurrency exchange.
Its services are available for all traders, regardless where they live, with exception of Xapo’s debit card. The payment system is available only for European countries while US investors would not be able to order the card.
Xapo, since its beginning, was set to support bitcoins only and have not added any other cryptocurrencies or fiat money to the wallet services. You cannot trade with bitcoin cash or with bitcoin gold at this platform either, as exchange services are also limited to BTC.
Pros
- Vault has good security functions, including cold storage of coins
- Offers debit cards as a payment method (available in Europe only)
- Privacy allowed
Cons
- Platform available only as a mobile app
- Verification is required to send and receive bitcoins
- The reputation of the company is largely negative
- Fees might be high for traders that use a few coins
- Only bitcoins are supported by Xapo’s wallet services
