Topic: XAPO blocked my account with no reason (Read 1802 times)

Hi Hazir,

Please read my above comment about why backup PDF's of your master seed are a much less risky way in handling your bitcoins.

Hopefully the above comment answers your other questions as well.

Feel free to ask more questions if not.

Thanks

Blocktrail provides HD wallets for your safety and privacy. You can create an unlimited number of addresses to help protect your privacy without the need for multiple private key backups. Our system will also generate new addresses for change and fund requests automatically.

When you sign up to Blocktrail, we give you a backup PDF (which you should definitely store safely) is your "complete ownership" to your underlying coins, with the backup PDF you can always recover your bitcoins when necessary, even when Blocktrail would be offline.

You can do this with our recovery tool (https://recovery.blocktrail.com/ source: https://github.com/blocktrail/wallet-recovery-tool), read more about it here: https://blog.blocktrail.com/2015/11/blocktrail-wallet-recovery-tool/

The recovery can also easily be ran locally.

The reason why exporting private keys doesn't make sense anymore with most modern wallets is because they are HD (hierarchical deterministic), the fact that exporting private keys is such a horrible backup solution is actually the whole reason why HD wallets were invented.

You now have 1 future-proof backup that doesn't need when you create new addresses (which for privacy reasons you should be doing for every transaction).

Another reason is that the Blocktrail wallet is a multi-signature HD wallet, so recovering your bitcoins using a different wallet isn't as simple as just importing private keys, the wallet which would import the privatekeys would need to have some extra code to understand how the multisig HD is structured and the same for other multisig HD wallets (because they're all slightly different).

Hope this answers your questions, let me know if you have any more.

Thanks

This condition can happen to me and all users, but after I readed your comment, some my balance in XAPO was move to Coinbase wallet and Blockchain, but I hope this is not happen to me

And why exactly I need to create and submit to your rules when I can simply download a software wallet and keep my private keys forever on my machine?
Is there any benefits of having online wallet like this, while software wallets could do exactly the same but in a less risky way?

From where we can know if we have private keys in blocktraill wallet?
I want to know, how do we can refunds if they close (through the site address)?
Why, if no transaction received but my wallet address always change?

Blocktrail wallet, unlike some web wallets does not control the private keys for its users. It means that they have no control over its user's keys and they cannot freeze anything. Even if they close down, the user can easily recover the Bitcoins via a backup. This also means that the transaction fees are fully paid by the user, deducted from their balance.

Aside from XAPO thing, that's why you shouldn't store your life savings in an online wallet. They can grab your money and get away without saying anything. They may say it was for security reasons bla bla bla... When you reach a certain amount, just withdraw your money.

And for XAPO, I never use an online wallet which gives ads to faucets.

cloud you give me the reasons, why will never close our account? besides XAPO right now I also use coinbase, is this also good and safe to save my bitcoin? and how much for transaction fee?

bad news and unbelievable, I also used XAPO wallet about 1 year until now. But after readed your information, I will move my bitcoin. Maybe I will move to coinbase or blockchain.info

Oh, how I like topics like this. What is scary thought they are popping out very often recently. In times like this I would always advise to read XAPO ToS.
Evaluate your recent action according to information you will find there. Because Xapo is adding more crazy rules almost everyday - ToS Last Updated: July 5, 2016

Mainly please read excerpt entitled Prohibited Activities. https://xapo.com/terms/

Another story of Xapo blocking some ones account without any specific reason.
I was also using xapo for over 7-8 months but i have heard some more stories here of xapo blocking the wallet either the funds coming from gambling sites or without any reason so i stopped using xapo since then and i guess i have dont the right thing.
Bro all you can do is to wait and wait for their email response and do whatever they say.

Switzerland  request a financial license for this kind of activity too. You are free to provide your IDs to any stranger(as XAPO is) from internet. It's your choice...

I don't know all details about Xapo. But it's Switzerland based company, their main office in USA. I didn't knew that they don't have right to require documents of users. But if you already decided to use Xapo, you have to accept their rules, no matter how it's bad and can be against laws of USA.

legal company? they are outlaw for sure. they are based in USA, they work with clients from USA but they are not a licensed MSB. they request papers from their clients in an illegal way because they have no right to store/review identity documents.

I'm using Xapo for more than 1.5 years and never got problem. Sometimes I use it with big btc amount. For really big amounts of bitcoin they requires to prove your identity. It's necessary, because Xapo is legal company and they have to follow laws.

I have heard this happen numerous times and because of this is rarely use my xapo wallet now. When I first discovered the xapo wallet I was very impressed because I could send small amounts without any fees, luckily I only ever sent small amounts from that wallet so I was never at any risk of losing too much. I think its best if people avoid xapo unless they understand what may happen.

It seems they are implementing new rules. And seeing so many users on reddit complain can't be good.
Hope they won't do a DOX. Just in case i advised my friends to withdraw their money from there.

www.blocktrail.com will NEVER close your account. NEVER!

You are not alone. I have seen a lot of other topics regarding the same issue, XAPO blocking accounts in an arbitrary way. I guess no other option is left for you but to use some wallet that is not supervised by a central authority which is also the core philosophy of bitcoin itself to not be supervised and be decentralized. MultibitHD is such a wallet.

Honestly i experience of many issue about xapo thats why i stop using it better to use electrum  or other trusted wallet..
Xapo right now is so weird the login is delay and the verification is delay it takes a long hour before you will and the verification should be put before the 1-5 minutes expiration.