Xapo is a global online platform offering both wallet and storage services for cryptocurrencies. Xapo Wallet is a hybrid wallet for storing Bitcoin, which uses unique technologies to ensure security. Unlike many other web wallets, Xapo uses offline servers that never connect to the Internet, which gives it a significant competitive advantage. This solution provides a high level of security thanks to multi-step protection procedures.

One of the key features of Xapo is its user-friendly and intuitive interface, which makes the use of the wallet accessible even for beginners. In addition to the standard security features, Xapo offers an additional layer of protection for storing bitcoins. The platform's storage supports cold storage of cryptocurrencies, which makes it ideal for long-term asset storage.

In addition, Xapo offers users prepaid debit cards that can be used at most Bitcoin retail outlets and ATMs, which greatly simplifies the process of purchasing goods and services for cryptocurrency. The platform also includes a peer-to-peer (P2P) exchange where users can buy and sell bitcoins directly with each other.

Xapo operates globally and supports a variety of currencies, making it accessible to users around the world. Originally founded in 2014 in Palo Alto, California, Xapo later moved its headquarters to Switzerland and then to Hong Kong in an effort to optimize its operations in a variety of regulatory environments.

The CEO of Xapo is Vences Casares, an experienced serial entrepreneur with more than 20 years of experience in creating and managing technology companies in the United States, South America and Europe. Xapo's management team includes professionals such as Ted Rogers, president of the company with more than 15 years of experience in business and finance, and Federico Murrone, Chief Operating Officer with significant knowledge in the field of technology. The high qualifications and reputation of the Xapo management team add additional legitimacy and trust to the business.

In 2017, the Government of Gibraltar granted Xapo an e-money license, which allowed the company to provide e-money storage and transfer services.

Among the main alternatives to the Xapo wallet are Coinbase, Electrum, Kauri.Finance, GreenAddress, as well as the BitGo platform and its wallet.

Functionality and technical specifications

Xapo Wallet is a hybrid bitcoin wallet that combines ease of use with a high degree of security. It is designed to allow users to easily manage their bitcoins, make transactions and store their assets on a long-term basis. 

Xapo uses a hybrid storage system that includes a hot wallet and cold storage. A hot wallet is designed for daily transactions and quick access to funds, whereas cold storage involves the use of offline servers to maximize asset protection. These servers are never connected to the Internet, which practically eliminates the possibility of hacking and theft of funds.

The Xapo platform is available both through the web interface and through mobile applications for iOS and Android, which makes it convenient for users with any level of technical training. The interface is simple and intuitive, allowing you to easily manage your funds, view your transaction history and exchange bitcoins for fiat currencies right inside the application.

Special attention is paid to security by offering multi-factor authentication (2FA) to protect accounts. All user data, including private keys, is encrypted using modern cryptographic technologies. The platform also provides the ability to use a Vault with additional layers of protection, such as physically storing keys in secure underground bunkers.

Xapo also provides debit cards that allow you to spend bitcoins at real stores that support Visa and Mastercard, as well as withdraw cash from ATMs. This card automatically converts bitcoins into fiat money with each transaction. In addition, users can manage multi-currency accounts, storing funds in currencies such as USD, EUR and GBP, and make transfers between them with minimal fees.

The platform offers favorable conditions for internal transfers between Xapo accounts, which are carried out instantly and without commissions. At the same time, a fixed commission is charged for bitcoin deposits, and withdrawals can be accompanied by standard or priority fees, depending on the speed of transaction processing.

Xapo operates in various countries around the world and supports transactions in several fiat currencies, which makes it convenient for users from different regions. The platform also offers round-the-clock support via email and live chat, which ensures a high level of customer service.

Overall, Xapo Wallet combines advanced security technologies with ease of use, providing users with a powerful tool for managing and storing bitcoins.

Supported Cryptocurrencies 

Currently, Xapo supports only one cryptocurrency — Bitcoin (BTC). Since its inception, Xapo has focused exclusively on storing and managing bitcoins, and still does not offer support for other cryptocurrencies.

If you need to work with other digital assets such as Ethereum, Litecoin or other altcoins, you should consider alternative wallets such as Coinbase, which support a wide range of cryptocurrencies. 

Xapo also offers additional banking services, including debit cards and US dollar accounts, which allows users to conduct transactions in both cryptocurrency and fiat.

Commissions and fees

Fees and charges in Xapo depend on the type of transaction and the payment methods used, which is important to consider when managing your funds on the platform. Let's look at this in more detail.

When it comes to fiat currency transfers, Xapo deducts a percentage fee, which may vary depending on the payment system used. For example, when depositing funds via Visa and Mastercard bank cards, users face a commission that can reach 4.25% of the transaction amount. This is due to the fact that the payment systems themselves impose additional fees for such transactions. 

If you decide to top up your account through electronic payment systems such as NETELLER or Skrill, the fees will be even higher. Transactions via NETELLER are charged a commission of up to 6.25%, and deposits via Skrill are charged up to 7.70%. These fees can significantly affect the total amount that you will receive to your account after depositing.

When withdrawing fiat funds, Xapo, unlike many other platforms, does not charge an additional fee for the operation itself. However, users should take into account that the payment systems used to withdraw funds may impose their own fees. Thus, even if Xapo does not charge a withdrawal fee, the final amount that will be credited to your account may be reduced due to fees charged by third-party services.

Xapo also sets certain fees for bitcoin transactions. The platform charges a fixed commission of 0.00001584 BTC for bitcoin deposits. This means that regardless of the deposit amount, the user will pay the same fixed amount to replenish his bitcoin wallet.

When it comes to withdrawing bitcoins, users are given a choice between standard and priority fees. The standard commission is 0.00001813 BTC, and it is suitable for those cases when there is no urgent need for a quick completion of the transaction. If it is important for the user to process the transaction faster, he can choose a priority commission, which is 0.00004039 BTC. The choice between these two options depends on your priorities and the speed with which you want to complete the operation.

It is important to note that bitcoin transfers between accounts within Xapo are free of charge. This means that users can transfer funds between their accounts or accounts of other Xapo users without additional costs. However, when sending bitcoins to external wallets, a transaction processing fee is charged, which is determined by the Bitcoin network. This fee may vary depending on the current network load, and users can choose a standard or priority fee to speed up the operation.

The minimum amount of bitcoins that can be sent from the Xapo wallet is 0.000055 BTC. This restriction is set to ensure effective transaction management and prevent transfers that are too small, which may be unprofitable in terms of network fees.

The fees for incoming transactions in Xapo vary depending on the amount you receive. These rates are not fixed and may change depending on current conditions. To find out the current fees for incoming transactions, users can refer to the information available on the official Xapo website. It is important to keep in mind that a difference in fees may also exist between transactions carried out through a wallet and through a vault.

Thus, Xapo offers flexible conditions for working with fiat and cryptocurrency assets, but users must be attentive to commissions and fees in order to effectively manage their funds and minimize transaction costs.

Safety

Xapo Wallet provides a high level of security and protection of user data through a number of thoughtful technical solutions. One of the key components is the built-in two-factor authentication (2FA) service. This service is available in the "Profile — Second Factor" section and allows users to log in on other devices, adding an additional level of protection when accessing the account.

Xapo uses a unique data segmentation system that ensures the security of transaction information and private keys. During the segmentation process, the data is first split and hashed, and then stored on various servers. After that, the system re-segments the already encrypted data, which significantly increases the level of protection, since the hashed information is stored in different places. This approach minimizes the risks of hacking and theft of funds.

Additional security is provided by the notification system, which sends push notifications to users every time funds are withdrawn. This allows you to quickly track the movement of funds and immediately respond to suspicious transactions.

In case of loss of funds due to the company's fault, Xapo guarantees compensation for losses, but this applies only to fiat deposits insured for amounts up to € 100,000. However, there are no such guarantees for cryptocurrencies. Xapo uses banking protection systems, although specific technologies are not publicly disclosed. 

It is important to note that Xapo Wallet is not an anonymous repository. To create an account and use wallet services, users are required to provide extensive personal data and go through the verification process. The Privacy Policy describes in detail what data is collected and how it is processed. 

As a custodial wallet, Xapo stores users' private keys on its centralized servers, and customers do not have direct access to them. This means that users cannot create backups of their wallets on their own. Instead, they only have access to the account recovery function, which is explained by the centralization of the Xapo system. 

Thus, Xapo Wallet offers a thoughtful balance between ease of use and a high level of security, which makes it a reliable choice for users focused on storing and managing bitcoins.