Topic: How are wallets like XAPO earning money? - page 2. (Read 2690 times)

Quote from: BlackJacky on June 08, 2015, 08:57:45 AM

Quote from: byt411 on June 08, 2015, 12:20:50 PM

Xapo has a long term storage service that they charge their customers for.

That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo?

If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year.

really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on...

this is really a step backward, compared to fiat...

Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays.
For a normal account, interest is 0.0005% per year right now, or something like that.

yeah i know, but those are not fees on deposit, they are fees that come from their credit/debit card(when you buy one for example, you pay something, then you pay every year another additional fee to mantain that card) or comes from withdrawal

but i made that post because with my bank i don't pay anything, zero on everything, thus my conmcern on that

Strange. Banks here give you some nice monthly fees, maintenance fees, deposit fees, "money storage" fees and other bullshit.

Amph

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Quote from: BlackJacky on June 08, 2015, 08:57:45 AM

Xapo has a long term storage service that they charge their customers for.

That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo?

If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year.

really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on...

this is really a step backward, compared to fiat...

Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays.
For a normal account, interest is 0.0005% per year right now, or something like that.

yeah i know, but those are not fees on deposit, they are fees that come from their credit/debit card(when you buy one for example, you pay something, then you pay every year another additional fee to mantain that card) or comes from withdrawal

but i made that post because with my bank i don't pay anything, zero on everything, thus my conmcern on that

adidas

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Americans do it better

XAPO don't earn from advertisements
they earn from their premium service like highly secured cold storage, or some trading
mostly newly found companies invest their money to earn the customers and takeover the market then later they find a way to earn the money

byt411

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Quote from: BlackJacky on June 08, 2015, 08:57:45 AM

Quote from: Brother Darkness on June 08, 2015, 11:28:37 AM

Xapo has a long term storage service that they charge their customers for.

That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo?

If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year.

really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on...

this is really a step backward, compared to fiat...

Wrong. Banks charge a crapton of fees to keep their business running, and a lot of European Banks now have more fees than interest nowadays.
For a normal account, interest is 0.0005% per year right now, or something like that.

Gultahin

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۩۞۩ secondstrade.com ★

Quote from: BlackJacky on June 08, 2015, 07:26:31 AM

Hi all,

recently I had a discussion with a friend where I tried to convice him on Bitcoin.

He asked the question. How are wallets (e.g. Xapo) actually earning money? I had no real answer...can you help?

I don't know about Xapo but blocklchain.info makes money from advertisements so I assume xapo has ads too.

no man xapo dont earn from advertisements..
if you use their vault they do take some charges..
mainly i think they earn by investing your coins..not sure about it. Sad

Brother Darkness

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Quote from: BlackJacky on June 08, 2015, 07:26:31 AM

Hi all,

recently I had a discussion with a friend where I tried to convice him on Bitcoin.

He asked the question. How are wallets (e.g. Xapo) actually earning money? I had no real answer...can you help?

I don't know about Xapo but blocklchain.info makes money from advertisements so I assume xapo has ads too.

Gultahin

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۩۞۩ secondstrade.com ★

I am very much satisfied with Amph that bank doesnt take fees to do transaction rather they pay you intrest ..like wise xapo collects your coins like bank do for money and invest them,i think so..so they exempt us from transaction fees..
btw they are revolutionary in idea.. Shocked

unamis76

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Besides their Vault option and the card fees, they also allow to buy Bitcoins and certainly charge something for such service... They probably even mine Bitcoin Wink

sakira

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all storage wallets like blockchain, xapo and others. certainly benefit from the transaction fee

BitUsher

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really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on...

this is really a step backward, compared to fiat...

Bitcoin being disinflationary and volatile makes it very dangerous to lend at the moment. Xapos business model is fine.

Amph

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Quote from: BlackJacky on June 08, 2015, 08:57:45 AM

Quote from: BlackJacky on June 08, 2015, 08:57:45 AM

Xapo has a long term storage service that they charge their customers for.

That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo?

If you use their "Vault" service which keeps your private keys in a very secure vault then you have to pay something like 1-2% per year.

really stupid, bank do not ask you money, to keep your money more safe, if xapo is anything like a bank they should earn profit by investing your money and when you need them they will burrow from another deposit and so on...

this is really a step backward, compared to fiat...

BitUsher

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They also charge fees on their card.

https://support.xapo.com/95219-What-fees-are-associated-with-the-Xapo-Debit-Card

A 1% purchase fee for bitcoin -

https://xapo.com/terms/

and are likely paying their current bills with venture capital funds at the moment while they grow.

The Sceptical Chymist

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OP, don't know the answer to your question, but I'll give you one guess as to how Elwar is making money.

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