How are wallets like XAPO earning money? - page 3.

Elwar

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

Quote from: Elwar on June 08, 2015, 07:45:08 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.

BlackJacky

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Quote from: Elwar on June 08, 2015, 07:45:08 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?

buysellbitcoin

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https://www.zebpay.com

Basically they do not earn any money on storage of your bitcoins. But services like that will work hard to give you options where you can spend your coins ( any use case where you either directly pay,send, spend bitcoins or convert it to fiat for the same reasons ). That is where they will make money, if any.

Also its too early stage at the moment and every such is focused on customer feedback, maturing product and gaining market share on use cases.

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Some of them also partner with companies and various other services.

https://bitcointalksearch.org/topic/how-does-blockchaininfo-make-money-238637

Elwar

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Quote from: AtheistAKASaneBrain on June 08, 2015, 07:47:34 AM

Quote from: Elwar on June 08, 2015, 07:45:08 AM

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

So it's actually the opposite? OP makes it sound as if you can make money off having your BTC stored there like a bank gives you some interest.

His question was:
"How are wallets (e.g. Xapo) actually earning money?"

AtheistAKASaneBrain

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Quote from: Elwar on June 08, 2015, 07:45:08 AM

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

So it's actually the opposite? OP makes it sound as if you can make money off having your BTC stored there like a bank gives you some interest.

Elwar

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

BlackJacky

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Quote from: Erza on June 08, 2015, 07:35:27 AM

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?

What do I know is that every wallet can't do the earning. It just the same as blockchain just to stored your bitcoin there. If you want to earn bitcoin

you can do some trading, signature campaign, faucets (which I dont recommended it) and gambling

I think you misunderstand my question. I would like to know how a wallet provider like Xapo is earning money to cover the costs?

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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?

What do I know is that every wallet can't do the earning. It just the same as blockchain just to stored your bitcoin there. If you want to earn bitcoin

you can do some trading, signature campaign, faucets (which I dont recommended it) and gambling

BlackJacky

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Activity: 237

Merit: 100

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?

Topic: How are wallets like XAPO earning money? - page 3. (Read 2690 times)