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Topic: Why do people hate Xapo? (Read 812 times)

legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
May 10, 2016, 08:23:43 AM
#23
Personally, I had a bad first experience with them. There was a promo back then (on one of the websites) that if xapo based BTCitcoin address were used, there will be some good extra rewards and I created one and availed the reward but the next time I logged back, there was a message saying my account was blocked due to my geographical location therefor I wasn't able to use it fully but they tend to control every action (more like centralized nature) but others don't.
hero member
Activity: 714
Merit: 528
May 09, 2016, 01:12:22 PM
#22
People don't hate xapo its like they feel more insecure in web wallets. Most of the people use coinbase and blockchain.info as online wallet and their service is enough however xapo lack some promotion and to get big investor like coinbase and other wallet. I remember i have one xapo account without any bitcoin in them.
Xapo is pretty secure because they requires 2FA from your phone for every transactions made, which is one of the most secure protection available right now Wink

I personally don't recommend Xapo because of their customer support availability, most of the time their support took few days just to answer a simple questions Tongue

One day my phone got stolen along with my Xapo 2FA in it, and it took me 2 days for the support to answer my problem and then I never heard another reply from the anymore, guess they gone somewhere Grin

Luckily I managed to transfer my mobile phone number to a new SIM card from my provider and I received the 2FA via SMS message instead, I withdrawn all of my coins and store it inside desktop wallet instead, more secure and I don't have to deal with it anymore

legendary
Activity: 994
Merit: 1000
May 09, 2016, 12:55:26 PM
#21
People don't hate xapo its like they feel more insecure in web wallets. Most of the people use coinbase and blockchain.info as online wallet and their service is enough however xapo lack some promotion and to get big investor like coinbase and other wallet. I remember i have one xapo account without any bitcoin in them.
legendary
Activity: 2436
Merit: 1804
guess who's back
May 09, 2016, 10:36:13 AM
#20
many people from my country had troubles with Xapo , which is totally against the main purpose of bitcoin
so that's why I hate Xapo , coinbase and such other sites , the US are totally controlling them with the rules and as I said bitcoins shouldn't work like this
I tried to register in coinbase just to use their wallet services ( I don't want to use the bank thing ) , and a message popped up saying that they don't accept people in my country
legendary
Activity: 1288
Merit: 1087
May 09, 2016, 09:43:16 AM
#19
Have a read through their terms and conditions. Sit back and feel the hate rising up and through your body.
member
Activity: 70
Merit: 10
Check my CyberSecurity Shop
May 09, 2016, 07:04:54 AM
#18
Just to clarify Coinbase and Xapo aren't the only ones in the game there also:

CoinsBank
Circle
BitoEX
Changetip
Magnr
Coinapult
sr. member
Activity: 294
Merit: 250
May 09, 2016, 02:35:42 AM
#17
I don't really hate Xapo... I just feel like that my coins aren't secure.

The idea of that only if you own the private keys, do you own the bitcoins themselves is very important and true for me. Like, Xapo can also do a runner with all the bitcoins they have got. Even if you go to court with them, I doubt you'll get any of your coins back.

Also the verification process is pretty unnecessary. To send any coins, you've gotta verify your phone number... Why do you need to verify your phone number if you just want to send a few thousand satoshis?

They've got their upsides, though. They pay the transaction fees for you, which is always good. But still, their service isn't that different from Coinbase's.
hero member
Activity: 784
Merit: 500
May 09, 2016, 02:32:04 AM
#16
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

maybe because user can't accest his privekey and he lost his money if xapo end his service. but im never hate xapo, im use it everyday for micropayment, the zero fee feature make me comfort to send small amount.
legendary
Activity: 1946
Merit: 1137
May 09, 2016, 02:29:35 AM
#15
generally i don't like them because of the fact that they are going to keep the private keys of your wallet and you only have access to your funds through their site and your account, so in case they decide to ban your account you are screwed.
copper member
Activity: 1442
Merit: 529
May 09, 2016, 01:22:39 AM
#14
You can download a desktop wallet and install it on your PC without any verification at all, while Xapo looking for some documents to verify you which is in 100% conflict with the anonymity of bitcoin itself, why they should know who I am and how many bitcoins I have ? Anyway I would rather stay away from any online bitcoin wallet as chances are high you may get hacked, or the wallet service may have Ddos attacks and losing your coins.
legendary
Activity: 1064
Merit: 1000
May 08, 2016, 10:41:12 PM
#13
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.
I wouldn't say that people hate xapo, it's just certain aspects of their business that are generally disliked. For example, the advertise as a bitcoin wallet but to many account verifications are required to open a wallet that it's very inconvenient to open a wallet there, they're more of a bank rather than a bitcoin wallet.

Yes, I feel that you need to provide way too much personal info to have an account with Xapo, you have to provide your phone number, and more. I feel that this defeats the purpose of bitcoin, which is anonymity. That's one of the reasons I turned away from Xapo, I was tempted to join at one point due to all the promotions they were having.

Other than that, I think Xapo has a good interface and design.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
May 08, 2016, 10:01:33 PM
#12
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.
I wouldn't say that people hate xapo, it's just certain aspects of their business that are generally disliked. For example, the advertise as a bitcoin wallet but to many account verifications are required to open a wallet that it's very inconvenient to open a wallet there, they're more of a bank rather than a bitcoin wallet.
sr. member
Activity: 378
Merit: 250
May 08, 2016, 09:19:25 PM
#11
No hate but being a wallet-service-provider they don't give you access to your private keys, which is why they're considered un-safe, if tomorrow the site is down for whatever reasons, users who keep their funds there will not be able to access them, and that is what is being suggested/warned about them.
The fact that BTC and Xapo are running with conflicting underlying ideas can also trigger some dislike towards Xapo.
sr. member
Activity: 378
Merit: 250
May 08, 2016, 09:17:38 PM
#10
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally, I never used it.
Xapo and Bitcoin run on two opposing ideas. Bitcoin is fighting with decentralisation, but Xapo is trying to do the opposite; creating a bank in cryptocurrencies.
hero member
Activity: 812
Merit: 1000
May 08, 2016, 09:08:11 PM
#9
No hate but being a wallet-service-provider they don't give you access to your private keys, which is why they're considered un-safe, if tomorrow the site is down for whatever reasons, users who keep their funds there will not be able to access them, and that is what is being suggested/warned about them.
legendary
Activity: 966
Merit: 1042
May 08, 2016, 04:04:29 PM
#8
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

It's very centralized where Bitcoins are decentralized. It's an online wallet, which I personally never use because of security purposes. They're the most likely wallet to have your funds stolen from. I would go with anything that's not an online wallet.
legendary
Activity: 2002
Merit: 1016
May 08, 2016, 03:56:36 PM
#7
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

So why isn't Coinbase hated as much?  Or is it?  I don't follow people's opinions on such matters, for logical reasons Smiley

Here you have right.. Coinbase have similar way of functioning, but Xapo is in my opinion too insistent, and even spamming their services everywhere.
member
Activity: 70
Merit: 10
Check my CyberSecurity Shop
May 08, 2016, 03:43:18 PM
#6
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

Thanks, good to know.
hero member
Activity: 966
Merit: 507
May 08, 2016, 03:42:03 PM
#5
It is not my case. I am a Xapo user and I have no problem with its platform and its concept, although I have to admit that I hate its excessive advertising, but I don't like to test too many options.
hero member
Activity: 532
Merit: 500
Offer escrow, receive negative trust
May 08, 2016, 03:23:03 PM
#4
Saw a lot of hate toward Xapo in the community, what don't you like about it.
Personally I never used it.

In a few words, people hate Xapo because of trying to create equivalent of a bank in cryptocurrencies world, but idea of Bitcoin is to fight with decentralization. This is the main conflict.

So why isn't Coinbase hated as much?  Or is it?  I don't follow people's opinions on such matters, for logical reasons Smiley
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