Topic: Xapo holding my bitcoin hostage for seven days!!! (Read 984 times)
Yes. I admit to trying to draw attention to this thread with my title.I get a bit defensive and could use some practice accepting constructive criticism. Thanks again to everyone. Glad to have a Legendary member here.
I would suggest reading through the thread before commenting. It wasn't about my inability to access my funds as clearly stated in my second post. It was about the sudden change in policy that happened without proper notification. As it states in their ToU's, they are able to change their terms at any time without the need for users to re-accept them. It also states that they must notify users of any change in the terms. They told this to me. Apologized. Then they changed how their notifications were going out to users. They even reworded it, thanks to this thread. I'm a ToU junky. I read those for fun.
Good for you. I've actually also fallen into trouble due to inaccuracies in the ToS major services (namely Coinbase) but they were professional enough to privately notify my of the newer updates I should be aware of and let me go with a warning in spite of having breaken the newer version of their ToS. Admittedly your title is a bit clickbaity but if you say that Xapo changed their ToU because of it then I guess that it served a special purpose.
I would suggest reading through the thread before commenting. It wasn't about my inability to access my funds as clearly stated in my second post. It was about the sudden change in policy that happened without proper notification. As it states in their ToU's, they are able to change their terms at any time without the need for users to re-accept them. It also states that they must notify users of any change in the terms. They told this to me. Apologized. Then they changed how their notifications were going out to users. They even reworded it, thanks to this thread. I'm a ToU junky. I read those for fun.
You call that holding bitcoins hostage? You were given a couple of perfectly viable options to recover your funds fully, I don't really understand what the issue it. Xapo is a private company and their ToS clearly states that they reserve the right to do this.
Yes I was. My situation was very complicated too. It took about 24 hours and many, many, steps to prove myself. But customer support was helpful and answered most emails within an hour. I inserted links to thread in every email.
I will check out your recommendations. I really appreciate all the help from this community. There is no other like it.
If you want to try another bitcoin forum with less spammers and scammers come to forum.bitcoin.com, it's still a growing community of bitcoin enthusiasts.Yeah, I was using it daily. Then out of nowhere, one morning I was unable to even see my wallet. They were helpful in the sudden verification process and because of this thread, they changed the way they notify their users and reworded the emails they were sending out.
Thanks to BitcoinTalk.org we are able to bring light to these situations. Thanks to the community.
Were you able to move your funds? Thanks to BitcoinTalk.org we are able to bring light to these situations. Thanks to the community.
Xapo has strenghten their policy very much because of anti money laundering policies and other obligations they have. If you want to use their services you have to be fuly verified, there is not other choice and they will not make exceptions.
Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
I don't know and no one send me email that we needed to full verified using xapo now. Last time I use xapo a month ago and I donot have any problem using it. But if they need to be fully verified I will not use it again for sure.Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
Yeah, I was using it daily. Then out of nowhere, one morning I was unable to even see my wallet. They were helpful in the sudden verification process and because of this thread, they changed the way they notify their users and reworded the emails they were sending out.
Thanks to BitcoinTalk.org we are able to bring light to these situations. Thanks to the community.
Xapo has strenghten their policy very much because of anti money laundering policies and other obligations they have. If you want to use their services you have to be fuly verified, there is not other choice and they will not make exceptions.
Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
I don't know and no one send me email that we needed to full verified using xapo now. Last time I use xapo a month ago and I donot have any problem using it. But if they need to be fully verified I will not use it again for sure. Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
I will check out your recommendations. I really appreciate all the help from this community. There is no other like it.
Thank you all for your insight on this topic. Since I opened this thread I've taken control of MY Bitcoin by getting it out of the online wallets (mostly, I admit to keeping a small amount I in my Coinbase wallet) and into my own. Thanks for chiming in everyone.
There should be nothing wrong with keeping a small amount in an online wallet and can be quite helpful if connected to a bitcoin debit card, just never use it to store the bulk of your funds.For cold storage a Trezor would be a good option or a ledger hardware wallet, KeepKey also looks like a good choice.
If using a paper wallet just make sure you creat it on an offline computer, if not created safly then your funds may always be at risk.
Good luck!
Xapo has strenghten their policy very much because of anti money laundering policies and other obligations they have. If you want to use their services you have to be fuly verified, there is not other choice and they will not make exceptions.
Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
Their debit card is great to use but it has it's price, a part of your privacy. But if they want to run a legitimate business they have to ask you all this data.
Thank you all for your insight on this topic. Since I opened this thread I've taken control of MY Bitcoin by getting it out of the online wallets (mostly, I admit to keeping a small amount I in my Coinbase wallet) and into my own. Thanks for chiming in everyone.
Well i think we must use online wallet and offline wallet and never put bitcoin on one place, personality i used online wallet just for short time ( usually for trading and small amount ) and i used offline wallets for save my other coins, so i have the private key.
I completly agree with you, i personally holding small amount on my blockchain account for spendable purpose, and the rest i mean huge amount on offline or hardware wallet like paper wallet, i won't store my bitcoin either in xapo or coinbase since i had bad experience with them, better to storing your bitcoin where you can controll your own private key. Sorry to say but i only had to read the first line to see where you went wrong, you used an online wallet to store bitcoins.
Not every online wallet is the same. Only Xapo, Coinbase and Circle have history locking users account, asking for verification and tracing transaction.This kind of problem never happened to anyone who used blockchain.info - mainly because. Don't be baited by Xapo's "no transaction fees" marketing.
that is correct but still it doesn't mean using blockchain.info is a safe thing. a web wallet in the least unsafe wallet of all choices and making it like blockchain.info means you only control the private keys aka have access to them but it still does not mean you are safe from hacks, you password being cracked, or having a keylogger that steals your sensitive information.
Well i think we must use online wallet and offline wallet and never put bitcoin on one place, personality i used online wallet just for short time ( usually for trading and small amount ) and i used offline wallets for save my other coins, so i have the private key.
Sorry to say but i only had to read the first line to see where you went wrong, you used an online wallet to store bitcoins.
Not every online wallet is the same. Only Xapo, Coinbase and Circle have history locking users account, asking for verification and tracing transaction.This kind of problem never happened to anyone who used blockchain.info - mainly because. Don't be baited by Xapo's "no transaction fees" marketing.
that is correct but still it doesn't mean using blockchain.info is a safe thing. a web wallet in the least unsafe wallet of all choices and making it like blockchain.info means you only control the private keys aka have access to them but it still does not mean you are safe from hacks, you password being cracked, or having a keylogger that steals your sensitive information.
Sorry to say but i only had to read the first line to see where you went wrong, you used an online wallet to store bitcoins.
Not every online wallet is the same. Only Xapo, Coinbase and Circle have history locking users account, asking for verification and tracing transaction.This kind of problem never happened to anyone who used blockchain.info - mainly because. Don't be baited by Xapo's "no transaction fees" marketing.
~snip~
You are right, that's the disadvantages of no fee transaction of those web wallet services. And for all bitcoin users of coinbase and xapo just be aware and be careful that this site are only waiting their users that once you've done that is not right from that site's TOS then your coins will be locked up as the exchange of no fee transaction just my opinion. 
Sorry to say but i only had to read the first line to see where you went wrong, you used an online wallet to store bitcoins.
Not every online wallet is the same. Only Xapo, Coinbase and Circle have history locking users account, asking for verification and tracing transaction.This kind of problem never happened to anyone who used blockchain.info - mainly because. Don't be baited by Xapo's "no transaction fees" marketing.
I have the similar problem with Xapo. But I cant contact with xapo support service. There are no acceptable email. Maybe you post here an email address that you use to contact to xapo support. Thanks.
Just follow and complete their 'contact us' page : https://tpi.xapo.com/contact-us/?lang=en#You will be contacted through your email most of the time within 24 hrs. when I faced problems with my Google authentication, they come up with right root cause of my problem.
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