Topic: itBit and Xapo (Read 960 times)

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I didnt like either those xapo i only use because the games i play work and has a payment lower then other way soo its an option to cashout faster but i didnt use it i just got my account there nothing else ,but being able to store more then one coin for sure its good .

I also LOVE Xapo!  It is extremely easy to use and there are no transaction fees!  It does mandate SIX confirmations for deposits but that just shows how serious they are about our money....the zero transaction fees more the make up for the time it takes for the six deposit confirmations.  Having said that, most of my bitcoin is held in cold storage and I only use the online wallet for daily spending and receiving activity....it's just a very cheap and convenient intermediary for my day to day transactions.

I like xapo a lot. It works well, has some good features (direct paying faucets, games, shop) and is free to use. Only think that pisses me off a little is the demand to use second factor authentication even if you don't want to. I went to live in other country and now I cannot access my old account as it requires for me to receive an sms on my phone to enter or to use a second factor App that stopped working on my old iphone 4. Made a new account and solved the problem (the first one just have some satoshis), but even that way I am forced to use second factor.

Other than that, very good as I say.

If those ceo left chapo maybe means that paypal has something in mind to reduce the fees or start some similiar project as xapo project,paypal is getting an eye into crypto world by this time as banks thinking to use some of the technology involved.

I am using xapo for bitcoin, upto now it is going better. But if his CEO really gone to paypal then we must have to be alert about it, I am also waiting for the source and truth what the "@TKeenan" told.

Yeah, I heard the same thing but I forget where.  In any case with Xapo you don't control your private keys if I'm not mistaken.  I have a Xapo wallet but just for their faucets and I transfer everything out of it and into Mycelium as fast as I can.  I don't trust them one bit.

Yes that's one of my main uses, I think Xapo is great as a "hot" wallet where you can use relatively small amounts to buy some goods, services, gambling, small trades and such and avoid fees. For the rest, perhaps the majority of your savings or BTC investment you can always use a cold wallet.

being on a board does not mean much.. its basically a backseat consultant that turns up to a meeting once every 3 months.. it doesnt stop that person doing other jobs.

EG UK members of parliament have there fingers in many pies, but that doesnt stop them being MP's
EG US senators can have 'private interests' where they sit on boards of other businesses while still heading up the senate

Wow, didn't see this one yet. Thank you for the heads up!

http://fortune.com/2016/01/13/paypal-adds-wences-casares-to-board

I was just talking about this on another thread on how paypal is leveraging it's self to beat down on bitcoin, now I see it is doing something with all this hiring that is going on.

Xapo is very good for e-wallet. And if you want you can have a btc debit card as well.

They completed the monetary chain of btc. Also their cold storage system seems to be secure (They are partnering with insurance company)

I have used Xapo for 3 months or so.  I like the interface, easy to use.  I have not had any issues with it and feel quite safe with it.

i used xapo as a wallet before, it was pretty good imo, mainly because of the free transactions. i cant say how their exchange is though.

i recommend xapo to any new bitcoiners because theyd save alot from those freee transactions.

I love Xapo and plan to keep using so I'm glad to hear that (if you are saying the truth, this is the internet after all!). I also have high hopes that a Bitcoin/Paypal integration is in the works, that would be amazing and a truly game changer in the business. Bitcoin will definitely get all of the lights finally and people will start taking it much more seriously.

(note i am not suggesting any company is in financial trouble. i am just saying for people to know what is possible IF a company had issues in the future i personally hope bitcoin services never stop serving customers and never have problems)

but here are some general points to make. not just about xapo
1. dollar funds are insured. not bitcoin holdings..

2. if they declare bankruptcy, the dollar holders get reimbursed.. (technically already reimbursed as the dollars are already on the debit card. which people can run to an atm and withdraw..) but the bitcoins will get locked into the bankruptcy and then sold off to pay solicitor fees and bankruptcy admin costs.

again no matter how legit a company is.. they can still end up filing bankruptcy and running off with the bitcoin.

another thing
xapo can easily amputate their arms and still live. EG put xapo Limited(hong kong) into bankruptcy and put Xapo Inc(USA) into bankruptcy. while keeping Xapo Holdings Limited free and clear and holding the profits.


the same has happened with cryptsy.. killing off cryptsy while not harming 'project investors inc' where project investors can run with the funds and keep their Fincen status while leaving cryptsy customers holding an empty bag of nothing and have no asset value to recover as cryptsy holds no value.. project investors does.

the same has happened with MTGOX.. yet tibanne originally was safe.. but many found that the amputation of mtgox was a meaningless shell game so people redirected to then go after tibanne..
it wasnt simple or fast and 2 years after getting screwed by mtgox and a year after tibanne aso got hit people have not yet been repaid.

research "shell game" and you will understand better to never trust any third party to hold funds long term or to hold more funds then your willing to risk as recovery is not guaranteed or easy. (dont rely on their promise of insured funds)

Hi Folks -- Wences didn't leave Xapo, he is very much our CEO and as involved as ever (I report to him).
We are committed bitcoiners for the long haul -- we won't be going away or pivoting to a "blockchain but not bitcoin" business
Thanks and best to all,
Ted Rogers

Xapo is being used by some faucets and new games working with them soo they fail i guess wont happen atleast not now .Itbit i never heard about it ,but if it is a USA exchange well sure they will wanna to control the people who play the crypto world.Thats why the most exchanges arent alive because such control,they wanna know who is playing with btc..... makes no sense ,but there is a reason is that bitcoin is allowing some to get weekly or montly income without people know from where that money came from.

Concerning itbit, is it odd that they require your social security number in order to verify your account?

Their response was:



Unfortunately there's no other way to create an account. Similar to a stock brokerage account, we're required to perform the required background checks on our customers before allowing them to trade. This is to ensure no fraudulent activity is occurring on our exchange.

My last comment was about itbit. I forgot to add the name. Xapo isn't an exchange. You'll be about as safe as possible with itbit.

They're probably the only bitcoin exchange having banking license in USA.