Positive expectations for the future of crypto currencies have led many to invest heavily in these new digital assets. Investors also need to protect these non-physical digital assets. Because nowadays, being a crypto currency billionaire makes the target of the hackers who are in the eye of rich investors.
But there is a crypto presence fortress located on the edge of a damp Swiss mountain: Xapo. Run by an Argentinean financial technology entrepreneur, this sheltered castle of Xapo focuses on the popular crypto currency, Bitcoin.
Step into the center of Xapo, you’ll cross kalın cold rooms dolu filled with encrypted computer servers connected to offline devices to protect you from the danger of hackers, crossing thick, reinforced concrete corridors and guards, retina scanners.
Offering high-security storage and wallet service for Bitcoin, Xapo offers a complete offshore bank service for Bitcoin in this sense.
Protector of everything coin
Xapo was created by Wences Casares, also known as Bitcoin’s zero patient zero ”among the Silicon Valley elites.
Casares has made millions with a series of financial technology startups, such as Patagon, a Latin American financial services website that was sold for $ 529 million in 2000.
Xapo, now a 4-year-old company, is undergoing a large-scale transformation under the management of Casares, both with investments in the company and the rise of crypto currencies.
Although Xapo is a 4-year-old company, it has managed to invest millions of dollars from the important names of Silicon Valley. Yahoo’s founder Jerry Yang, Linkedin’s founder Reid Hoffman and Mail.ru Group’s investor Yuri Milner are among the famous names who invested in Xapo.
According to Xapo in the future Bitcoin
Xapo, which serves as a bank for Bitcoin, provides storage and digital wallet services, is said to hold $ 10 billion at the moment. This amount corresponds to 7% of Bitcoin supply in the world.
Xapo has now established a network of storage cellars on 5 continents and focuses exclusively on Bitcoin. Because according to Casares, only Bitcoin will be the currency of the future.
There are safe ways of protecting crypto assets, especially hardware wallets, but following the likely high value increases, we will see more crypto asset banks such as Xapo in the coming years, and investors are likely to prefer these banks to protect their assets. For now, Xapo is a pioneer in this field.