Xapo

pumpingiron22

Member
AnabolicLab.com Supporter
Xapo: Xapo is another newcomer to the Bitcoin scene, but they’ve been able to come up with two major features that could turn them into a big name. First, they have a vault option where you can securely store your Bitcoins for a small fee. This vault may not seem like a big deal at first, but it’s importance is amplified by the fact that the deposits into their vault are insured. The other main feature of this wallet is the addition of a traditional debit card. This would allow users to spend their Bitcoins at any merchant where major cards are accepted, and the most impressive aspect of this perk is that there would be no processing fees attached to the card for users.
xapo.com
 
Shame they charge for the card tbh. Great idea I just don't think people will be willing to pay until it has a solid operating history.
 

pumpingiron22

Member
AnabolicLab.com Supporter
I signed up. This is a good way to use bitcoin some times you need money in real life. I think this is a great option for people who don't have access to a btc ATM. Of course there are ways to get btc to pay pal but this can be a pain in the butt and some times sketchy. I look forward to testing this out and will keep evey updated at the moment I'm waiting for approval.
 
Look forward to seeing if it's worth the cost, I use bc allot and it looks like a good alternative. So long as I stay anon...
 

pumpingiron22

Member
AnabolicLab.com Supporter
With Xapo, Plutus and few others, who needs banks anymore?
Paypal as well. I run a services I wish all my customers would pay me. Digital wise. Unfortunately lots of business in my area are still old school and still pay with a paper check lol even with my QuickBooks you can by by card or ACH. If only I could just skip bank :( one day
 

acoll83

Member
Xapo: Xapo is another newcomer to the Bitcoin scene, but they’ve been able to come up with two major features that could turn them into a big name. First, they have a vault option where you can securely store your Bitcoins for a small fee. This vault may not seem like a big deal at first, but it’s importance is amplified by the fact that the deposits into their vault are insured. The other main feature of this wallet is the addition of a traditional debit card. This would allow users to spend their Bitcoins at any merchant where major cards are accepted, and the most impressive aspect of this perk is that there would be no processing fees attached to the card for users.
xapo.com

Have you ever done a wire transfer from your bank to xapo? Is it instantly? I've been using coinbase but they charge 3% to instantly transfer from my debit card which isn't alot but when you're transferring 3k it's $90, so I've been looking for a cheaper way to do it.
 
Is Xapo U.S. based?

Not anymore. They left US for Switzerland.

Xapo Moves to Switzerland Citing Customer Privacy Concerns
by Pete Rizzo - May 15, 2015 at 01:31 BST

Xapo has officially relocated its corporate headquarters to Zurich, Switzerland, citing the country's long history of neutrality and stability...

In interview, Xapo CEO Wences Casares sought to position the move as one that would appeal to customers who remain worried about oversight of their bitcoin holdings and transactions.

Xapo indicated that its company representatives would now face potential fines and prison time for revealing customer information without consent in all but select circumstances.

Casares told CoinDesk:

"This is not to facilitate crime, this is to protect privacy. There are some customers that will bring more balances if we do this and there are some customers who have said we will work with you if you do this."​

...

While Casares suggested that Xapo was primarily interested in promoting user privacy, he noted that the company must still follow Swiss law. This includes monitoring transactions for potential money laundering, illegal transactions and terrorist financing.

"If we cannot prove who you are, we won't open an account for you, and if you do anything that looks suspicious, we will report you," Casares said.
Read more: Xapo Moves to Switzerland Citing Customer Privacy Concerns
 
FYI, I'm not convinced Xapo's move to Switzerland really means much given that they still have a physically presence in the U.S.

The U.S. government may be able to use the Patriot Act to seize Bitcoin from Xapo in Switzerland since Xapo has a presence in California for U.S. customers.

A COMPANY UPDATE – A GLOBAL HQ FOR A GLOBAL FOCUS
May 14, 2015

"To better support and accelerate this focus we are moving our headquarters to the global financial center of Zug, Switzerland. Our primary deep cold storage vault is also located in Switzerland, and at the request of our expanding global customer base, now is the time to bring our center of operations closer to the heart of our security infrastructure. The country’s regulatory stability, international neutrality and its deep-seated tradition in global finance also factored into the decision. We will retain a small presence in Palo Alto, California to serve our U.S. customers."​

Read more: A Company Update - A Global HQ for a Global Focus
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Attorney General Eric Holder at the Organized Crime Drug Enforcement Task Forces and Asset Forfeiture Program's National Leadership Conference
Wednesday, July 22, 2009

"In that case, a task force led by the Rhode Island U.S. Attorney’s Office, the Asset Forfeiture and Money Laundering Section of the Criminal Division, and the Food and Drug Administration’s Office of Criminal Investigations obtained the forfeiture of $2.7 million from the accounts of GeneScience, one of the largest biopharmaceutical companies in China that had been involved in the illegal distribution of Human Growth Hormone into the United States. To accomplish this forfeiture, the task force employed a new statutory vehicle — 18 U.S.C. § 981(k) — which permitted the Government to seize the funds, physically located in China, from the corresponding accounts of Chinese banks in New York. This was the first use of section 981(k), enacted as part of the USA Patriot Act, against a Chinese entity, and its success has helped pave the way for subsequent investigations using this groundbreaking authority."​

Read more: Attorney General Eric Holder at the Organized Crime Drug Enforcement Task Forces and Asset Forfeiture Program's National Leadership Conference

via: United States Attorney General Praises Use of Terrorism Laws to Disrupt Illegal HGH Market
 

pumpingiron22

Member
AnabolicLab.com Supporter
@millard Great articles. I find it funny how they try to hit these companies up with money laundering when the same can be done with cash and has been since the dawn of time and I don't see them trying to rid of the almighty dollar. I believe it has to do more with the power of the 3 major banks and Federal Reserve which is owned by one and the same. They would hate to see people free there selves from the system. And giving them less power. They hate btc as it is a limited resource and can not be manipulated
 

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