Xapo · Bitcoin Wallet & Vault
Launched in 2014, Xapo enables users to both trade and store their bitcoin. Xapo also enables users to purchase bitcoin with fiat currencies. Fiat currencies supported include EUR, USD, and GBP. With bitcoin being the only cryptocurrency able to be purchased, the scope of Xapo's services is limited when compared with competitor wallets. Users give up control of their private key to Xapo when using their digital wallet. Xapo does encrypt user data which adds some security. Users are asked to provide photo identification and proof of address. One key advantage of the Xapo web wallet is the option to transfer to the Xapo vault exists. Xapo vault is a much more secure wallet where funds are held in deep cold storage on offline encrypted servers. There is no extra fee for transferring from the Xapo wallet to the Xapo vault. Fees are incurred when funds are being sent or received outside of Xapo wallets. The fee for these transactions is 0.2%.
In terms of features, Xapo web wallet is missing out on some key features. Wallets are not hierarchical deterministic. The code is not open-source so the level of security cannot be openly assessed. There is no multi-signature functionality. Users do have the option to enable two-factor authentication to add an extra layer of security to their account.
Xapo is supported in the web browser, Android, and iOS. It has also been noted by users to be easy to use. Xapo has been noted to be easy to use with a very intuitive interface.